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Introduction to Behavioral Economics

Learn to make better decisions and how others use behavioral science knowledge to influence decisions and behavior.
4.0
4.0/5
(11 reviews)
59 students
Created by

9.2

CourseMarks Score®

9.7

Freshness

8.1

Feedback

9.1

Content

Platform: Udemy
Price: $11.99
Video: 1h 12m
Language: English
Next start: On Demand

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Detailed Analysis

CourseMarks Score®

9.2 / 10

CourseMarks Score® helps students to find the best classes. We aggregate 18 factors, including freshness, student feedback and content diversity.

Freshness Score

9.7 / 10
This course was last updated on 1/2021.

Course content can become outdated quite quickly. After analysing 71,530 courses, we found that the highest rated courses are updated every year. If a course has not been updated for more than 2 years, you should carefully evaluate the course before enrolling.

Student Feedback

8.1 / 10
We analyzed factors such as the rating (4.0/5) and the ratio between the number of reviews and the number of students, which is a great signal of student commitment.

New courses are hard to evaluate because there are no or just a few student ratings, but Student Feedback Score helps you find great courses even with fewer reviews.

Content Score

9.1 / 10
Video Score: 7.7 / 10
The course includes 1h 12m video content. Courses with more videos usually have a higher average rating. We have found that the sweet spot is 16 hours of video, which is long enough to teach a topic comprehensively, but not overwhelming. Courses over 16 hours of video gets the maximum score.
The average video length is 5 hours 15 minutes of 88 Economics courses on Udemy.
Detail Score: 10.0 / 10

The top online course contains a detailed description of the course, what you will learn and also a detailed description about the instructor.

Extra Content Score: 9.5 / 10

Tests, exercises, articles and other resources help students to better understand and deepen their understanding of the topic.

This course contains:

0 article.
0 resource.
0 exercise.
1 tests or quizzes.

Table of contents

Description

Behavioral economics is the science of human decisions: How do we make the decisions we make, and why? What factors affect our decisions, and when? When, where, and how are our decisions affected?
Behavioral economics studies actual, real-world human behavior and decisions and shows how, when, and where they deviate from the “rational” decisions made by people traditionally assumed in economic theory.
Learn about the way people make decisions, why they are not always “rational” (in a traditional economics sense) but how “biased” decisions may still be optimal, even if people apply heuristics (“rules of thumb”). Apply this new knowledge to your own life and be not as easily persuaded by companies and governments, or at least have a better idea about why companies and governments use certain scents, colors, images, and ways to communicate with people.
Start first by learning about traditional economics theory. This theory is the basis of all economics research. Then you will learn about behavioral economics foundations and some theories. Following, you will learn about human decision heuristics and biases and how these may affect your daily decisions. Then, you will learn how companies and governments use behavioral economics (sciences) knowledge in the real world. Get acquainted with the tricks used by experts to influence your decisions and choices! Maybe even learn to recognize those and not to be so easily swayed by those techniques anymore?
Enjoy the journey diving into a fairly new economics discipline. And good luck!

Course outline
•Intro: What is behavioral economics (BE)? Locate BE within the social sciences.
•Economics foundations
•Utility, demand and supply, and expected utility theory
•Homo economicus: the traditional economics assumptions and key economics concepts
•Reviewing homo economicus assumptions and defending rationality
•Behavioral economics foundations
•Early survey responses
•Economics experiments and games
•Human decision-making
•Bounded rationality
•Dual system theory of thinking
•Prospect theory of decision-making
•Probability-weighting function
•Value function
•Regret theory of decision-making
•The fourfold pattern of decision-making
•Decision heuristics and cognitive biases
•Heuristics
•Representativeness
•Availability
•Anchoring & adjustment
•Affect
•Cognitive biases
•Mental accounting
•Hyperbolic discounting
•Loss aversion
•Endowment effect
•Scarcity bias
•And many more…
•Social norms and social preferences
•Behavioral economics frameworks
•EAST
•Double Diamond
•MINDSPACE
•COMBI / COM-B
•Behavioral economics in action
•Choice architecture
•Policymaking
•Some real-world examples
•Wrap-up: Conclusion and takeaways.

You will learn

✓ Understand what behavioral science/economics is
✓ Learn about concepts, terminology, and theory of behavioral economics
✓ Learn how behavioral economics started and learn about experimental economics
✓ Learn what psychology tells us about human decision-making; how our brain processes information and comes to conclusions and actions.
✓ Understand what decision heuristics and cognitive biases are
✓ Understand how, when, and where heuristics and biases affect everyone’s decisions
✓ Learn how behavioral economics is applied in the real world

Requirements

• There are no requirements or prerequisites.

This course is for

• Anyone interested in either economic decision-making, behavioral sciences, the human brain and how it makes decisions, decision heuristics, cognitive biases, marketing or public policy

How much does the Introduction to Behavioral Economics course cost? Is it worth it?

The course costs $11.99. And currently there is a 40% discount on the original price of the course, which was $19.99. So you save $8 if you enroll the course now.
The average price is $21.2 of 88 Economics courses. So this course is 43% cheaper than the average Economics course on Udemy.

Does the Introduction to Behavioral Economics course have a money back guarantee or refund policy?

YES, Introduction to Behavioral Economics has a 30-day money back guarantee. The 30-day refund policy is designed to allow students to study without risk.

Are there any SCHOLARSHIPS for this course?

Currently we could not find a scholarship for the Introduction to Behavioral Economics course, but there is a $8 discount from the original price ($19.99). So the current price is just $11.99.

Who is the instructor? Is Thomas Dudek a SCAM or a TRUSTED instructor?

Thomas Dudek has created 1 courses that got 11 reviews which are generally positive. Thomas Dudek has taught 59 students and received a 4.0 average review out of 11 reviews. Depending on the information available, Thomas Dudek is a TRUSTED instructor.
PhD student in behavioral economics
I am Thomas, a PhD student in economics at the School of Economics and Finance at Victoria University of Wellington (New Zealand). Prior to beginning my PhD degree, I worked for several financial corporations in short-term positions such as assistant auditor (KPMG), portfolio management intern (Deutsche Bank), and project management intern (UBS), while working on or preparing for my university degrees in business administration (majoring in finance and minoring in accounting and economics). I graduated with a master’s degree from the University of Trier, Germany, and participated in fully funded study abroad programs in the USA with scholarships (PROMOS and ISEP). My master’s thesis was a behavioral economics study on the susceptibility to framing effects by people who classify as thorough thinkers (as opposed to impulsive doers). I am currently funded as a scholar by the Chair in the Economics of Disasters PhD Scholarship and I am doing research in the behavioral economics sub-discipline of behavioral insurance.My research interest is behavioral economics and behavioral finance, cross-research of social psychology, cognitive psychology and microeconomics/finance. I focus on the behavioral (i.e. emotional, intuitional and “irrational”) aspects of human decision making in various contexts.In my PhD, I investigate empirically how and why people make insurance decisions. For my research, I use laboratory experiments and collect my own data to empirically study and understand property insurance decisions in the context of catastrophes. I am also doing research in personality economics. I try to further our knowledge about how people’s personalities affect their decisions and choices. 

9.2

CourseMarks Score®

9.7

Freshness

8.1

Feedback

9.1

Content

Platform: Udemy
Price: $11.99
Video: 1h 12m
Language: English
Next start: On Demand

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