Behavioral Decision-Making Perspective in Business and Public Policy (5 cr)

Learning outcomes

The student is able to
- understand the role of heuristics and biases in everyday decision making
- explore the fields of behavioral economics and behavioral decision making
- identify and apply psychological factors in business and public policy applications
- evaluate development plans from behavioral perspective
- analyze ethical aspects of behavioral interventions and nudges

Materials

Hallsworth, M., & Kirkman, E. (2020). Behavioral insights. MIT Press.

Luca, M., & Bazerman, M. H. (2020). The Power of Experiments: Decision Making in a Data-Driven World. Mit Press.

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

Teaching methods

In this study unit you will learn the basics of behavioral economics. You will gain understanding on behavioral biases and heuristics that are apparent in human behavior. In this study unit we will also take knowledge from behavioral economics into action by considering the impact of behavioral phenomena in business and public policy applications.

The study unit is divided into orientation and 5 Modules:
Module 1: General overview of behavioral insights in business and public policy
Module 2: Deeper into behavioral insights
Module 3: Ethical perspectives of behavioral interventions
Module 4: Behavioral insights into action
Module 5: Applying behavioral perspective

The study unit is organized virtually on Canvas platform. There is one kick-off lecture on Monday, May 22 at 17:00 -18:30 (EET). No other lectures during the course.

The study unit contains planning and executing a small-scale real-life application of behavioral insights, and analysis of an existing development plan from a behavioral perspective. You will also work in smaller groups during the summer discussing by posting conversation starters and comments about different topics you have read about in an online forum, but you can decided the schedule with your group.

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.

Employer connections

The study unit includes a practical exercise where the students are encouraged to solve practical problems at their everyday life, and to further consider their developmental work.

Exam schedules

Recommended kick-off lecture on Monday, May 22th, 2023, at 17:00 -18:30 (EET).

The study unit and assignments are divided into 5 Modules. The DL for handing in assignments is August 13th, 2023.

Retake DL September 17th, 2023.

International connections

Use of international academic literature. International student group.

Completion alternatives

According to degree regulations “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 module or study unit or another person designated by the director of the UAS unit. The assessment is carried out according to the same criteria and grading scale as that adopted for the corresponding study unit.” For further information visit Student Intranet.

Student workload

Orientation 8 hours
Each module 25 hours

Content scheduling

In this study unit behavioral insights are applied in business and public policy context. How cognitive biases and heuristics affect our decision-making is one of the main themes. Nudges and choice architecture are introduced as a mean to change people's behavior

Evaluation scale

H-5

Further information

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

According to the degree regulations (section 18) “students must be present in the first contact session or notify their teacher in charge if they cannot attend. If they fail to notify the teacher of their absence in the first contact session, their enrolment will be rejected. Another student in the queue may be enrolled in the study unit in the place of the absent student.” (Laurea degree regulations) “In the case of online studies the lecturer can also specify some other way than participation on an online meeting what is required from the student so that he/she verifies his/her attendance on the study unit” (Decision by the vice president, education 7/2019).

There are 5 places available in open UAS and 10 places on CampusOnline.

Students of the Master's programmes in Behavioral Insights in Business Applications (Päätöksenteon ilmiöt johtamisessa, kehittämisessä ja asiakastyössä) or Behavioral Insights and Choice Architecture (Päätöksenteon ilmiöt ja valintamuotoilu) are not eligable to apply to this study unit.

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