AØKA08166U Behavioral Finance (F)
MSc programme in Economics – elective course
The course is part of the MSc programme in Economics, Financial line, symbolized by ‘F’.
The teaching in this course may be changed to be taught either fully or partly online due to COVID-19. For further information, see the course room on Absalon. The time, place and type of assessment used for the exam may also be changed due to COVID-19, and any further information will be announced under the panel “Exam”.
Traditional economic theory assumes that economic agents are fully rational with unlimited cognitive abilities and willpower. However, individuals frequently and systematically make decisions in contradiction with these standard presumptions. Against the background of this finding the course addresses e.g. the following questions:
What are the shortcomings of traditional theories in economics and finance?
How do the new concepts / theories in behavioral finance and behavioral economics address these shortcomings?
How do these new theories relate to the traditional theories and what are their strengths and limitations?
How do the new behavioral presumptions in behavioral finance and economics change the predictions of classical economic theories?
After completing the course the student is expected to be able to:
Account for how behavioral finance and economics attempts to understand the most important systematic behavioral departures from standard economic theories.
Provide an in-depth overview of the most important seminal works in behavioral finance
Identify and discuss the impact and relevance of the new concepts and theories presented in these seminal works.
Critically assess and relate the new concepts and the supporting empirical evidence put forward in the hitherto existing seminal works in behavioral finance.
Debate and present these new and often complex concepts in a simple, clear and pricise way.
Apply the empirical and theoretical knowledge and the skills obtained in this course to understand real-world behavioral phenomena that lie beyond the scope of this course.
Solve problems and implement decision for subject within behavioral finance that lie outside the scope of the course.
A list of required readings will be given to the students in the beginning of the course
2 hours lectures 1 to 2 times a week from week 36 to 50 (except week 42).
The overall schema for the Master can be seen at KUnet:
MSc in Economics => "Courses and teaching" => "Planning and overview" => "Your timetable"
Timetable and venue:
To see the time and location of lectures please press the link under "Timetable"/"Se skema" at the right side of this page. E means Autumn.
You can find the similar information partly in English at
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-E20; [Name of course]”
-Select Report Type: “List – Weekdays”
-Select Period: “Efterår/Autumn – Weeks 31-5”
Press: “ View Timetable”
Students have the possibility to get individual oral feedback during office hours
For foreign students not enrolled: Admission requirements, registration etc: Study Economics.
For gæste- og enkelfagsstuderende: Tilmelding og information via Uddannelse i Økonomi.
- 7,5 ECTS
- Type of assessment
- Written assignment, 2 hoursThe exam assignment is in English and must be answered in English.
Due to the Corona crisis, the Board of Study has decided to change the regular exams and the re-sit exams in the autumn semester to written online take-home exams. Both exams are still individual.
During the exam, it is not allowed to communicate with others about the exam assignment nor the solution at all. It is also prohibited to distribute data regarding the solutions to anyone. If this or alike actions happens, it will be regarded as cheating and plagiarism.
Please read more at
- Exam registration requirements
To qualify for the exam the student must no later than the given deadline during the course
- hand in and have approved one mandatory assignment.
- All aids allowed
- Marking scale
- 7-point grading scale
- Censorship form
- No external censorship
for the written exam. The exam may be chosen for external censorship by random check.
- Exam period
The exam takes place:
16 December 2020
The exact time will be available in Digital Exam.
In special cases, the exam date can be changed to another day and time within the exam period.
The written reexam takes place:
12 February 2021
NOTE: If only few students register for the written re-exam, the re-exam might change to a 20 minutes online oral examination with aids, but without preparation time.
If changed to an oral exam, the date, time and place for the exam, will be informed by the Examination Office.
Information about the reexam will be available in the Digital Exam early February.
Criteria for exam assesment
Students are assessed on the extent to which they master the learning outcome for the course.
To receive the top grade, the student must with no or only a few minor weaknesses be able to demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material and can make use of the knowledge, skills and competencies listed in the learning outcomes.