The relatively new field of behavioral economics combines the conceptual frameworks of conventional economics with the observation-based insights of psychology. Together, they provide a 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. 

Seeing Economics as a Model (with a Lot of Assumptions Underneath) is the second module in our survey of Behavioral Economics, “Behavioral Economics and Decision Making.” This program 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

Course Key Concepts: Behavioral economics, Economics, Managerial economics, Psychology, Management, Decision-making