Behavioural Economics (5 cr)
Code: A9481-3002
General information
Enrollment
25.11.2019 - 01.12.2019
Timing
14.01.2020 - 14.04.2020
Number of ECTS credits allocated
5 op
Mode of delivery
Contact teaching
Unit
Laurea university of applied sciences
Campus
Laurea Leppävaara
Teaching languages
- English
Seats
20 - 40
Degree programmes
- Degree Programme in Service Business Management (HMA), Laurea Leppävaara
Teachers
- Sini Setälä
Teacher in charge
Sini Setälä
Groups
-
HMA219SN
Learning outcomes
The student is able to:
- evaluate the effects of psychological, social, cognitive, and emotional factors on economic decision making
- discuss the role of rationality and emotions in purchasing decisions
- explain the mechanisms that define judgment processes
Teaching methods
Contact classes, team work, individual work.
Location and time
The course begins February 11, 2020. Presence on that day in compulsory.
Learning materials and recommended literature
Literature:
Barden, Phil. (2013). Decoded. The Science Behind Why We Buy. Wiley.
Bazerman, Max H. & Moore, Don A. (2013) Judgment in Managerial Decision Making. Wiley.
Kahnemann, Daniel. (2011). Thinking Fast and Slow. Penguin Books.
Thaler, Richard H. (2015). Misbehaving. The Making of Behavioral Economics. W.W. Norton & Company Inc.
Thaler, Richard H. & Sustein, Cass R. (2008). Nudge. Improving Decisions, about Health, Wealth, and Happiness. Yale University Press.
Please visit the Laurea library to find more information on this topic.
Articles:
Kahnemann, Daniel & Tversky, Amos. (1974) Judgment under Undercertainty: Heuristics and Biases. Science. New Series. Vol. 185, No. 4157 (Sept. 27, 1974), pp. 1124-1131
Thaler, Richard H. (2008). Mental Accounting and Consumer Choice. Marketing Science. Vol. 27, No. 1. January-February 2008, pp. 15-25
From the net:
How You Really Make Decisions
Barry Schwartz: The Paradox of Choice
How Do People Really Make Choices
Dan Ariely: Are We in Control of Our Own Decisions?
Richard Thaler: Nudge - an overview
Richard Thaler: PBS News Hour
Mike Vaughan: How to Ask Better Questions
Important dates
Contact classes and deadlines.
Further information for students
Behavioral economics assumes that people are boundedly rational actors with limited cognitive processing power and time, whose choices are influenced by the contexts in which decisions are embedded. (Samson, Behavioral Economics Guide 2017)
Behavioral economics takes into account the effects of psychological, social, cognitive, and emotional factors on economic decision making. During this course we will study them, discuss the role of rationality and emotions in purchasing decisions and seek to understand the mechanisms that define judgment processes.
Evaluation methods and criteria
BACHELOR'S DEGREE INITIAL STAGE STUDENTS
EXCELLENT
grade 5
Students are able to:
• Apply professional concepts expertly.
• Comply with occupational safety instructions responsibly and independently.
• Justify activities using research knowledge.
• Work independently and take initiatives in line with objectives. Operations are often flexible, systematic, development-oriented, creative and active.
• Select the appropriate techniques and models for activities, and justify the choices.
• Act in customer-oriented ways and according to the situation.
• Promote group activities.
• Able to critically apply ethical principles in the subject field in one's conduct and tasks.
GOOD
grade 3
Students are able to:
• Apply professional concepts systematically.
• Apply occupational safety instructions in their activities.
• Justify, compare and analyse their activities using general guidelines.
• Able to cope independently in different tasks in each operating environment.
• Apply acquired techniques and models diversely.
• Act professionally in customer situations.
• Work in a group in line with objectives.
• Justify their activities in accordance with ethical principles..
SATISFACTORY,
grade 1
Students are able to:
• Apply most important/individual and appropriate professional concepts, and indicate their familiarity with the knowledge base.
• Act safely, although activities are often schematic/ experimental/ fumbling/ self-involved.
• Comply with rules and instructions, and justify their activities using provided instructions.
• Act appropriately under guidance.
• Use acquired techniques and models.
• Take customers into account in their actions.
• Act as group members.
• Act in accordance with ethical principles.
Englanniksi
BACHELOR'S DEGREE INITIAL STAGE STUDENTS
EXCELLENT
grade 5
Students are able to:
• Apply professional concepts expertly.
• Comply with occupational safety instructions responsibly and independently.
• Justify activities using research knowledge.
• Work independently and take initiatives in line with objectives. Operations are often flexible, systematic, development-oriented, creative and active.
• Select the appropriate techniques and models for activities, and justify the choices.
• Act in customer-oriented ways and according to the situation.
• Promote group activities.
• Able to critically apply ethical principles in the subject field in one's conduct and tasks.
GOOD
grade 3
Students are able to:
• Apply professional concepts systematically.
• Apply occupational safety instructions in their activities.
• Justify, compare and analyse their activities using general guidelines.
• Able to cope independently in different tasks in each operating environment.
• Apply acquired techniques and models diversely.
• Act professionally in customer situations.
• Work in a group in line with objectives.
• Justify their activities in accordance with ethical principles..
SATISFACTORY,
grade 1
Students are able to:
• Apply most important/individual and appropriate professional concepts, and indicate their familiarity with the knowledge base.
• Act safely, although activities are often schematic/ experimental/ fumbling/ self-involved.
• Comply with rules and instructions, and justify their activities using provided instructions.
• Act appropriately under guidance.
• Use acquired techniques and models.
• Take customers into account in their actions.
• Act as group members.
• Act in accordance with ethical principles.