- In introduction you have to briefly define what behavioral economics is.
- In the body explain the following aspects in detail – What is Behavioural Economics? How Behavioural Economics can be applied in the Indian context in the resolving the issues posed by the covid-19 pandemic? Also explain the perceived costs – monetary, time and psychological costs . What are the limitations of Behavioural Economics?
- Conclude that Covid-19 is hitting humanity where it hurts in the most complex way — the human mind. Once we acknowledge the power of individual behaviour in epidemics, behavioural insights are not a choice but a necessity in our collective action against Covid-19.