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Regular version of the site
2023/2024

Introduction to Neuroeconomics: How the Brain Makes Decisions

Type: Mago-Lego
Delivered by: Institute of Media
When: 4 module
Online hours: 30
Open to: students of one campus
Instructors: Tatiana Magera
Language: English
ECTS credits: 3
Contact hours: 6

Course Syllabus

Abstract

Economics, psychology, and neuroscience are converging today into a unified discipline of Neuroeconomics with the ultimate aim of creating a single, general theory of human decision-making. Neuroeconomics provides biologists, economists, psychologists and social scientists with a deeper understanding of how they make their own decisions and how others decide. Neuroscience, when allied with psychology and economics, creates powerful new models to explain why we make decisions. Neurobiological mechanisms of decision-making, decisions under risk, trust and cooperation will be central issues in this course. You will be provided with the most recent evidence from brain-imaging techniques (fMRI, TMS, etc.) and introduced to the explanatory models behind them. The course does not require any prior study of economics and neuroscience; however, it might require you to study novel interdisciplinary materials. The course provides an introduction to the methodology, assumptions, and main findings of Neuroeconomics. Our students have different backgrounds; therefore, I have adapted and simplified the course to allow all students to understand the interdisciplinary content. This course will help you to start your progress in the field of Neuroeconomics and to further develop your skills during other more advanced courses and trainings in the future. For some topics, the course will also provide supplementary videos to reveal the opinions of leading experts in the field. Each module provides optional reading. This course is intended for master's students who have successfully completed the disciplines: "History and Theory of Media", "Media Law", "Media Economics".
Learning Objectives

Learning Objectives

  • To familiarize how neuroscience, in conjunction with psychology and Economics, creates powerful new models that explain why we make decisions.
  • To familiarize the neurobiological mechanisms of decision - making, risk-taking, trust and collaboration.
Expected Learning Outcomes

Expected Learning Outcomes

  • Student knows the main features of the Diffusion Model, the most popular theoretical model of decision-making in Neuroeconomics, applies this model to single-neuron activity in a monkey cortex and to the human brain in order to understand how brains program decisions.
  • To be able to apply basic concepts of representation and subjective value in research
  • To be able to discuss and apply the concept of risk in research on neuroeconomics
  • To be able to discuss the papers applying dual process theory as a theoretical background
  • To interprete the decision making process through the optics of neuroscience
  • To know methods to measure brain activity
  • To use the approaches of neuroeconomics describing and analysing social situations
  • To use theoretical approaches of dual process theory to create research design for own study
  • Understands the role of emotion in decision-making and to introduce theories and basic findings of Neuroeconomics in this context.
Course Contents

Course Contents

  • Introduction and Scope of Neuroeconomics
  • Neuroanatomy, Neurophysiology, and Neuroimaging: Tools of Neuroeconomics
  • Introducing Brain Models of Decision-Making and Choice
  • Neural Representation of Subjective Value
  • Affective Mechanisms of Decision-Making
  • Dual Process Theory of Decision-Making: Toward a Neuroeconomics Perspective
  • Decision-Making under Risk: Toward a Neuroeconomics Mechanism
  • The Social Brain: Games in the Brain
  • Evolutionary Perspective of Decision-Making
Assessment Elements

Assessment Elements

  • non-blocking Test. Risk
  • non-blocking Test. Introduction and Scope of Neuroeconomics
  • non-blocking Test. Neuroanatomy and Neurophysiology
  • non-blocking Paper. Critical review: Diffusion model
  • non-blocking Test. Valuation System
  • non-blocking Final Exam
  • non-blocking Test. Cooperation
  • non-blocking Paper. Do people have Free Will...?
  • non-blocking Test. Emotional Stimuli
  • non-blocking Test. Decision-Making
  • non-blocking Test. The dark side of emotion in decision-making
  • non-blocking Paper. Neuroeconomics, Game Theory and decision-making in groups
  • non-blocking Test. The Nucleus Accumbens
  • non-blocking Essay. Biological mechanisms of decisions: The role of testosterone in decision-making
  • non-blocking Paper. Ethical limitations in Neuroeconomics
Interim Assessment

Interim Assessment

  • 2023/2024 4th module
    0.28 * Final Exam + 0.04 * Essay. Biological mechanisms of decisions: The role of testosterone in decision-making + 0.04 * Paper. Critical review: Diffusion model + 0.04 * Paper. Do people have Free Will...? + 0.04 * Paper. Ethical limitations in Neuroeconomics + 0.08 * Paper. Neuroeconomics, Game Theory and decision-making in groups + 0.04 * Test. Cooperation + 0.04 * Test. Decision-Making + 0.04 * Test. Emotional Stimuli + 0.04 * Test. Introduction and Scope of Neuroeconomics + 0.08 * Test. Neuroanatomy and Neurophysiology + 0.04 * Test. Risk + 0.08 * Test. The Nucleus Accumbens + 0.04 * Test. The dark side of emotion in decision-making + 0.08 * Test. Valuation System
Bibliography

Bibliography

Recommended Core Bibliography

  • Glimcher, P. W. (2009). Neuroeconomics : Decision Making and the Brain (Vol. 1st ed). Amsterdam: Academic Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=248080
  • Kosslyn S. M. The Oxford Handbook of Cognitive Neuroscience, Volume 2: The Cutting Edges. – Oxford University Press, 2013. – Т. 2.
  • Paul W. Glimcher, & Ernst Fehr. (2014). Neuroeconomics : Decision Making and the Brain (Vol. 2nd edition). Amsterdam: Academic Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=486337

Recommended Additional Bibliography

  • Ochsner K., Kosslyn S. M., Kosslyn S. M. (ed.). The Oxford Handbook of Cognitive Neuroscience, Volume 1: Core Topics. – Oxford University Press, 2013. – Т. 1.
  • Politser, P. Neuroeconomics: A Guide to the New Science of Making Choices / Peter Politser. – New York: Oxford University Press, 2008. - Текст: электронный // DB oxford Scholarship Online [сайт]. – URL: https://www.oxfordscholarship.com/view/10.1093/acprof:oso/9780195305821.001.0001/acprof-9780195305821?rskey=Fxn1Xh&result=4