Behavioural Economics (5 cr)

Code: A9481-3001

General information

Enrollment: 26.11.2018 - 02.12.2019
Registration for the implementation has ended.

Timing: 07.01.2019 - 14.06.2019
Implementation has ended.

Number of ECTS credits allocated: 5 cr

Local portion: 4 cr

Virtual proportion: 1 cr

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

Study unit: A9481

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

Location and time

The course begins January 24, 2019. Presence on that day in compulsory.

Materials

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

Teaching methods

Contact classes, team work, individual work.

Exam schedules

Contact classes and deadlines.

Further information

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.