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The relatively new field of behavioral economics combines the conceptual frameworks of conventional economics with the observation-based insights of psychology. Together, they provide of way of better understanding decision-making in the real world. Knowing the predictable patterns of human behavior leads to more efficient, rational, and profitable results. 

Whether you’re a corporate executive, a project leader, an entrepreneur, or a non-profit organizer, making smart decisions is essential to your success. Understanding how people make decisions and recognizing the predictable biases and blind spots that lead to sub-optimal outcomes will make you more effective in your work. 

An Introduction to Behavioral Economics is designed for anybody whose work requires leading, influencing, selling, or collaborating. Prior coursework in economics is not required. The insights and tools in this program are directly applicable by:

  • Senior and mid-level leaders who work with their teams to make long-term investments in products, operations, and people
  • Entrepreneurs who need to know the pitfalls of relying only on instinct and intuition
  • Sales & marketing professionals who can simplify their customers’ purchase decisions with smart choice architecture
  • Business analysts who want to get their insights across more effectively by understanding context and framing

 

Learning Objectives

  • Recognize how behavioral economics is different than neoclassical economics
  • Discover how to classify behaviors as either System 1 (intuitive) or System 2 (logical)
  • Explore examples of bounded rationality in decision making  
Last updated/reviewed: November 9, 2019

3 Reviews (17 ratings)Reviews

5
Member's Profile
This explains a lot of things about why & how people make the decisions they do. I really appreciate the explanation of fast & slow thinking. I’ll be delving into this more.
5
Anonymous Author
This was a very interesting course with skilled presenters.
4
Member's Profile
I enjoyed the back and forth between the instructors.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  3:56Introduction to An Introduction to Behavioral Economics
  6:08Perceptual and Behavioral Biases
  15:30Examples of Irrational Decisions
  15:54Perfect Rationality and Bounded Rationality
  5:11A Rational Approach to Decisions
  3:19Summary
CONTINUOUS PLAY
  49:58An Introduction to Behavioral Economics
Supporting Materials
  PDFSlides: An Introduction to Behavioral Economics
  PDFAn Introduction to Behavioral Economics Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM