Bachelor of Business Administration -- Concentration in Behavioral Economics

Behavioral Economics is a field of study that draws from Economics and Psychology to explain how and why people behave in the real world. Behavioral Economics analyzes the ways in which humans make decisions, the psychology behind decision-making, and how this affects consumer behavior and consumption. This can be distinguished from traditional economics, where people are treated as purely rational actors who have perfect self-control and laser-like focus on their long-term goals. Conversely, Behavioral Economics examines the instincts, biases, emotions and cognitive heuristics which contribute to the decisions that people actually make, rather than the decisions that classical economics predict. Students who study a Bachelor of Business Administration with a concentration in Behavioral Economics at the University of New York in Prague will learn to use techniques and information from the field of psychology to consider people as actors who are subject to impulsivity and emotion, influenced by their respective circumstances and backgrounds.