How do economic actors make decisions?

About the lecture

In this module, we look at how economic actors make decisions. In particular, we focus on: (i) defining key terms, including goals, ends, rationality, self-interest, other regarding, constraints, beliefs and preferences; (ii) a model for thinking about preferences, beliefs, and constraints; and (iii) an example explaining the “budget constraint”.

About the lecturer

Simon Halliday is an Associate Professor in Economics Education at the University of Bristol. He specialises in behavioural economics, microeconomics, and economics education. With this in mind, he has published widely, including an intermediate microeconomics textbook, Microeconomics: Competion, Conflict, and Coordination which he co-authored with Samuel Bowles.