Study Guide

Learning outcomes

The student is able to:
• understand the role of heuristics and biases in business environment
• explore the fields of behavioral economics and behavioral decision making
• identify and evaluate psychological factors that either promote or challenge transformation change
• apply behavioral factors in change management
• analyze ethical aspects of behavioral interventions and nudges

Teaching methods

In this study unit you will learn the basics of behavioral economics and how behavioral insights can be used to nudge organizational change. You will gain understanding on behavioral biases and heuristics that are apparent in human behavior. We will also take knowledge from behavioral economics into action by considering the impact of behavioral phenomena in business applications, especially in change management.

The study unit is organized virtually on Canvas platform. There is one kick-off lecture on Tuesday, November 21st, 2023, at 17:00 - 18:30 (EET).

The study unit contains a development-oriented essay.

You can reach the instructor and your fellow students through the Q&A discussion board on Canvas platform. You can use the Canvas Inbox or email messages. The instructor gives feedback on the Canvas platform.

Learning materials and recommended literature

Course book: Max H. Bazerman, Don A. Moore, Judgment in Managerial Decision Making, 8th Edition, Wiley. https://laurea.finna.fi/Record/3amk.280187

Additional reading materials are given on Canvas platform. Students are also encouraged to search for (academic) literature sources.

Alternative completion methods of implementation

All students are entitled to demonstrate their competence. The recognition and accreditation of prior competence is initiated by the students themselves. The competence is recognised and accredited by the teacher responsible for the studies or another person designated to the position. The assessment is carried out according to the same assessment criteria and, as a rule, same grading scale as that adopted for the corresponding study unit or module. The student is entitled to apply for accreditation of prior competence regardless of where, how and when the competence has been acquired. The student may also seek accreditation of competence to be acquired on the job as part of their degree (work-based learning). ... The student is responsible for demonstrating and verifying their competence and for providing sufficient information.

Co-operation with working life and/or RDI

The study unit includes a development-oriented essay where the students are encouraged to solve practical problems at their own workplace.

Important dates

Recommended kick-off lecture on Tuesday, November 21st, 2023, at 17:00 - 18:30 (EET) via Zoom.
The study unit and assignments are divided into modules. Each module has a deadline (DL):
Orientation: DL Dec 10, 2023.
Note that you need to complete the assignments of the orientation phase by Dec 10, 2023, to continue further with the study unit.
Module 1: Introduction to heuristics, biases, and nudges in business environment: DL Jan 7, 2024
Module 2: Deeper into behavioral economics: DL Jan 21, 2024
Module 3: Ethical perspectives of nudging: DL Feb 4, 2024
Module 4: Promoting change through behavioral insights : DL Feb 18, 2024
Module 5: Applying behavioral perspective in transformational change management: DL Mar 3, 2024
Retake DL Mar 31, 2024

Forms of internationality

Use of international academic literature. International student group.

Students workload

Orientation 8 hours
Independent work 125 hours (each module 25 hours)

Content and scheduling

In this study unit you will learn the basics of behavioral economics and how behavioral insights can be used to nudge organizational change. You will gain understanding on behavioral biases and heuristics that are apparent in human behavior, and understand the basics of choice architecture.

In this study unit we will take knowledge from behavioral economics into action by considering the impact of behavioral phenomena in business applications, especially in change management.

Further information for students

The study unit corresponds to the requirements of Master's level education.

According to the degree regulations (section 18) "students must be present for the first contact teaching session, or they must notify the responsible teacher of their absence to confirm they intend to participate in studies, Alternatively, the teacher can specify a different manner for the student to confirm that they intend to participate in the studies. The completion of these measures can be required within a week of the studies having begun. The application of the aforementioned approach requires that the teacher notifies the students accepted to the study unit of the practice and that the practice is specifically mentioned in the study unit’s implementation plan.

If the student has a justified reason for not attending the first contact teaching session or for not notifying the teacher of their intention to be involved in studies in the manner required by the teacher, the student must contact the responsible teacher to agree on participation in the studies. Their registration for the study unit will be rejected, of the student does not notify the teacher of being absent from the first contact teaching session or the reason for their absence cannot be considered justified, Another student who is in line for the study unit can be selected in their place."

The student needs to complete the assignments of the orientation phase by xx.xx.xxxx to continue further with the study unit.

The quality of the study unit implementation has been assessed and the self-evaluation report is available in Canvas.

Grading scale

H-5