course materials

1. Students will examine the evolution of economic thought from the
classical schoo
Students will examine the evolution of economic thought from the classical school
(including major figures and their theories) to the behavioral school of economics. Students
will examine the major differences between the classicals and neo-classicals (hint: you
should focus some attention on how prices of goods are determined), discuss some of the
major elements of neo-classical economic theory and then evaluate the rise of behavioral
economics as a counterpoint to the neo-classical assumptions of rational, self-interested
economic actors with full information to maximize utility. General Expectations For this
research project you will examine the behavioral school of economics and discuss several
flaws that they have found in the neo-classical framework. At a minimum, you should
present to the reader the following: An overview of the evolution of neo-classical theory
from the classical school of thought An identification of several main assumptions that are
made by the neo-classicals A discussion of the evolution of behavorial economics including
key proponents An analysis of several topics that have been examined and the implications
for the market The endowment effect The anchoring effect Irrational exuberance Prospect
theory A discussion of the role of advertising under each general framework Specific
Requirements Minimum number of sources – 5 (textbook can be one) Anticipated number
of pages – 3 -5 Citations should be made using APA formatting. Neo-classical theory The
reader is provided an overview of the evolution of neo-classical theory. Key elements that
differentiate the school from the classical period is presented along with leading figures that
moved the theoretical orientation along. Behavioral Economics The reader is exposed to the
evolution of the behavioral branch. Leading thinkers are presented along with several
instances where the behavioral school breaks away from the neo-classical school. Paper
Organization The paper has sound organization. There are no typos or awkwardly worded
phrases. The paper is free of excessive wording. Citations are made, a works cited page is
present and the paper meets the basic parameters set forth in the assignment.More
DetailsCitation Style APA Font Face Times New RomanReferences 5 Language US English