In this paper, I provide an overview of how one might teach an advanced undergraduate elective on Behavioral Economics. While I focus on the structure and themes from my own course, I also attempt to highlight ways in which instructors might choose an alternative structure. Throughout, I emphasize how a Behavioral Economics elective is a great vehicle in which to highlight to undergraduates the science of Economics.

While present bias is an old idea, it only took hold in economics following David Laibson's (1994) dissertation. Over the past 20 years, research has led to a much better theoretical understanding of present bias, when and how to apply it, and which ancillary assumptions are appropriate in different contexts. Empirical analyses have demonstrated how present bias can improve our understanding of behavior in various economic field contexts. Nonetheless, there is still much to learn. In this paper, we give our assessment of some lessons learned, and to be learned.