Behavioral Economics: An Introduction (2023 Edition!)

Course Title: Behavioral Economics: An Introduction (2023 Edition!) 🎓💰

Course Headline: Dive into the Fascinating World of Decision Making with Behavioral Economics: An Introduction! 🚀

Course Description:

Introduction to a Revolutionary Field: Incorporating insights from psychology into economics has revolutionized our understanding of economic behavior. Since the 1950s, this interdisciplinary approach has evolved significantly, with recent Nobel laureates being recognized for their seminal work in the field of Behavioral Economics. This course will guide you through the origins, theories, and implications that make this discipline a vital aspect of contemporary economic analysis.

What You'll Explore:

• Historical Perspective: Discover how behavioral economics evolved from its early days to today's mainstream science.

• Core Theories & Concepts: Understand the fundamental theories like prospect theory, and explore the behaviors related to risk-taking, trust, coordination, and time-discounting.

• Real-World Applications: Learn how behavioral economics can shape public policy, influence business strategies, and impact our day-to-day decisions.

• Challenges & Future Directions: Engage with the pressing challenges that the field of Behavioral Economics must address to continue contributing meaningfully.

Course Structure:

• Module 1: The Foundation of Behavioral Economics

  • The interdisciplinary approach: Marrying psychology and economics 🤝
  • Key historical figures and their contributions 🏫

• Module 2: Essential Behavioral Economics Theories

  • Prospect Theory and its implications 📈
  • Heuristics and biases: Understanding cognitive errors in decision-making 🧠

• Module 3: Decision Making & Behavioral Biases

  • Analyzing risk, trust, coordination, and time preferences 🎲
  • Real examples of behavioral economics at play in real-life scenarios 🌐

• Module 4: Applications & Implications of Behavioral Economics

  • How behavioral insights are transforming public policy 🌍
  • The role of behavioral economics in business strategy and marketing 🏢

• Module 5: Critiques & Future of Behavioral Economics

  • Addressing the challenges and critiques within the field 🤔
  • The road ahead for Behavioral Economics 🚀

Expert Instructors: This course was crafted by a team of distinguished experts in Behavioral Economics: Nikhil George (MA Economics, Mumbai U), Hansika Kapoor (PhD IIT Bombay in Cognitive Science, Fulbright Scholar), Aditya Nair (Briefkase, now UC Dublin MBA and Yale SOM Advanced Management), and Anirudh Tagat (MSc Econ, Warwick; PhD IITB-Monash in Econometrics). Special thanks to Juhi Vajpayee for her invaluable assistance in preparing course material. 👩‍🏫👨‍💼📚

Join us on this intellectual journey and unravel the complexities of human behavior through economics. Enroll now to be part of this transformative learning experience! 📅✨