About the Course
Economics assumes human beings to be rational decision making agents who work to maximize their utility. These assumptions of rationality and utility maximization are meant to guide every action we take. But do they? This course will serve as a glimpse into the vast world of economic theories and models that define our decision making in strategic, uncertain, and risky situations. Students will be encouraged to read deeper into economic assumptions and complex theories which form the basis of the science and art of the discipline and extend to our day-to-day lives. It will progress from the classical to the modern understanding of humans ought to or do make decisions. This course will cover the central ideas of the most renowned economists - right from Neumann to John Nash to Richard Thaler.
Shri Ram College of Commerce