Topics
Homo Economicus
Homo Economicus is a term used in economics to describe a hypothetical human being who always makes perfectly rational decisions in order to maximize their own utility (or happiness). In other words, it's an idealized version of a human being who always makes the best choices based on all available information and without any biases or emotional factors influencing their decisions. The concept of Homo Economicus is a useful way to think about economic models, but it's important to remember that it's just a theoretical construct - in the real world, human beings don't always behave perfectly rationally.
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4.1.2.1 Utility Theory (AQA A-Level Economics Teaching PowerPoint)
Teaching PowerPoints
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1.2.1 Utility Theory (Edexcel A-Level Economics Teaching PowerPoint)
Teaching PowerPoints
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Assumptions in Economics
Study Notes
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Behavioural Economics Revision Quizzes
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Rational Decision Making and Consumer Welfare
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Rational Behaviour (Quizlet Revision Activity)
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Behavioural Economics - Key Cognitive Biases
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Heuristics (Behavioural Economics)
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Nudges in Action (Behavioural Economics)
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Coronavirus and Behavioural Economics
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What Happens When Economics Doesn’t Reflect the Real World?
15th January 2020
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Reasons to be cheerful about the 2019 Economics Nobel Winners
16th October 2019
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A* Evaluation on Information Failures
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Behavioural Economics (Quizlet Revision Activity)
Quizzes & Activities
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The Limits of Rational Economic Man
25th February 2019
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Herd behaviour can be perfectly compatible with rationality
5th December 2018
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Utility Maximisation
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Behavioural and Neo-Classical Economics (Revision Essay Plan)
Practice Exam Questions
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Test 14: A Level Economics: MCQ Revision on Utility Theory
Practice Exam Questions
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Behavioural Theory in Action (Behavioural Economics)
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What snowstorms tell us about economic behaviour
8th March 2018
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Behavioural Economics: Do Tube strikes make Londoners better off?
15th November 2017
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Pricing for diminishing marginal utility!
23rd October 2017
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How Richard Thaler Changed Economics
15th October 2017
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Behavioural Economics has a Nobel Moment
12th October 2017