Development of Learning Material in Behavioral Economics for Higher Education
DOI:
https://doi.org/10.47750/pegegog.14.03.18Keywords:
Economic educationAbstract
The dominance of neoclassical economics in educational curricula is a prominent concern. However, promoting behavioral economics may encourage students to make better economic decisions. This study aims to develop and assess the feasibility and effectiveness of learning materials in behavioral economics for higher education in order to help students make complex decisions. This paper followed the development procedures outlined by Dick and Carey for instructional design and was tested in the classroom using an experimental approach. Four experts validated the content, and 30 under graduate students at Universitas Negeri Surabaya participated in the experimental study. The findings reveal that the learning material development was reviewed and validated by experts and underwent some revisions and enhancement. Based on the analysis, the development feasibility level scored 81, and the N-Gain was 56.22%, indicating that the teaching material was quite feasible and effective. Therefore, the behavioral economics teaching material can be used for higher education.
Downloads
References
Altman, M. (2012). Implications of behavioural economics for financial literacy and public policy. The Journal of Socio-Economics, 41(5), 677-690.
Barberis, N. C. (2013). Thirty years of prospect theory in economics: A review and assessment. Journal of Economic Perspectives, 27(1), 173-196.
Bogan, V. (2019). Behavioral Economics vs. Traditional Economics: What is the difference? Hartford Funds.
Dick W., & Carey L. (2005). The Systematic Design of Instruction (6th ed.). Boston, MA: Pearson/Allyn & Bacon.
Espin, A.M., Reyes-Pereira, F., & Ciria, L.F. (2017). Organizations should know their people: a behavioral economics approach. Journal of Behavioral Economics for Policy, 1, 41–48.
Heukelom, F. (2014). Behavioral economics: A history. Cambridge University Press.
Jenssen, B. P., Buttenheim, A. M., & Fiks, A. G. (2019). Using behavioral economics to encourage parent behavior change: opportunities to improve clinical effectiveness. Academic pediatrics, 19(1), 4-10.
Krajnović, A., Sikirić, D., & Bosna, J. (2018). Digital marketing and behavioral economics. CroDiM: International Journal of Marketing Science, 1(1), 33-46.
Lavecchia, A. M., Liu, H., & Oreopoulos, P. (2016). Behavioral economics of education: Progress and possibilities. In Handbook of the Economics of Education (Vol. 5, pp. 1-74). Elsevier.
Levitt, S. D., List, J. A., Neckermann, S., & Sadoff, S. (2016). The behavioralist goes to school: Leveraging behavioral economics to improve educational performance. American Economic Journal: Economic Policy, 8(4), 183-219.
Mullainathan, S., & Shafir, E. (2013). Scarcity: Why having too little means so much. Macmillan.
Narmaditya, B. S., Sahid, S., & Hussin, M. (2023). How does family economic education foster students’ economic behavior? The mediating role of economic and entrepreneurial literacy. Heliyon.
Seethamraju, R. (2012). Business process management: a missing link in business education. Business Process Management Journal, 18(3), 532-547.
Shanks, N. (2019). Against ‘economic man’: A feminist challenge to prevailing neoclassical norms in K-12 economics education. Theory & Research in Social Education, 47(4), 577-603.
Sunstein, C. R. (2015). Behavioural economics, consumption and environmental protection. In Handbook of research on sustainable consumption (pp. 313-327). Edward Elgar Publishing.
Taneja, B. (2021). The Digital Edge for M-Commerce to Replace E-Commerce. In Emerging challenges, solutions, and best practices for digital enterprise transformation (pp. 299-318). IGI Global.
Thaler, R. H. (2016). Behavioral economics: Past, present, and future. American economic review, 106(7), 1577-1600.
Thaler, R. H. (2018). From cashews to nudges: The evolution of behavioral economics. American Economic Review, 108(6), 1265-1287.
Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth, and happiness. Yale University Press.
Wahyono, H., Narmaditya, B. S., Wibowo, A., & Kustiandi, J. (2021). Irrationality and economic morality of SMEs’ behavior during the Covid-19 pandemic: lesson from Indonesia. Heliyon, 7(7), e07400.
Williamson, B., Eynon, R., & Potter, J. (2020). Pandemic politics, pedagogies and practices: digital technologies and distance education during the coronavirus emergency. Learning, Media and Technology, 45(2), 107-114.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Pegem Journal of Education and Instruction
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
NonCommercial — You may not use the material for commercial purposes.
No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
