I totally agree that civilians should have morale and panic. They would lose morale as other civilians and XCom operatives get killed. Once panicked, they should act like the idiots they are now. [I can't believe the number of time a civilian ran to stand just in front of an alien, blocking my line of fire, or right in front of a door to prevent me from entering a house (that last one may be excusable as thinking my soldier was dangerous to them, I guess)].
Before they get panicked, the kind of behaviour described by NoelBuddy would be awesome. Having it tied to civilian morale would also make it so that you would want to reach civilians ASAP so that you get them while they're not panicked and can guide them to the skyranger. Instead of now where there's really no point trying to reach them since they're stupid and will most likely get killed either way.
Of course, a boost in civilian AI should come with a reduction in points for saving them (it is easier, and really, saving civilians should be what's expected of XCom, not a bonus), as well as an increase in negative points for losing civilians (since it is easier to save them and because we should really try to save them).
An XCom operative should put himself between a civilian and an alien because it is his duty to save him, not duck in cover and roll his eyes when the civilian gets blasted away. It is unfortunate that currently, there is no point in doing that.