Behavioral Economics

In class I presented a PowerPoint (posted to Files) which included behavioral economics. Elements of human behavior are key to understanding the economics of the coronavirus crisis. This assignment is a short RESEARCH paper applying behavioral economics to an analysis of one aspect of the economics of COVID-19. The specific topic is up to you. All that is required is that your subject matter be appropriate for behavioral economics. Utmost creativity and imagination are stressed. Therefore the structure of your paper is up to you as long as good writing practices are followed. Although no topic or structure is mandated, your paper should include at least the following components. 1. A general discussion of behavioral economics—its origin and underlying principles, some concepts with explanation (don’t just list whatever you choose) in behavioral economics (from the bullet points in the PowerPoint), and why, in general, it might be useful when analyzing economics in the current economic environment. 2. Choose one general topic relevant to the coronavirus crisis and provide analysis and observations using the tools of behavioral economics. Here, after you have chosen your topic, consider the list of examples of behavioral economics provided in the PowerPoint, or other sources, and discuss the ones most relevant to your topic. You must first explain what your chosen components mean and then apply them to your topic. This should result in analytical observations. 3. If you so choose, discuss the implications of your analysis and observations. This is not just general opinions. They are views that derive directly from your analysis. This is a research paper so OUTSIDE SOURCES ARE REQUIRED. These are the tools of your analysis. No independent research by you is necessary. Rely on the research in the sources. You must use legitimate sources and follow proper citation methodology. This is a SHORT research paper so the length of your paper, chosen by you to do the job well, is not specified. Grading is on quality, not quantity.