Discover how psychological factors influence decision-making processes and shape policy outcomes through real-world case studies and behavioral analysis.
Discover how psychological factors influence decision-making processes and shape policy outcomes through real-world case studies and behavioral analysis.
This intermediate-level course delves into the fascinating world of behavioral economics and its applications in public policy. Over six weeks, students will gain insights into the psychological processes underlying decision-making, exploring concepts such as nudges, choice architecture, and notions of fairness. The curriculum covers a wide range of topics, including heuristics and biases, risk preferences, impatience and self-control, strategic thinking, and social preferences. Participants will learn how simple nudges can significantly influence decisions, strategies, and choices. The course also addresses important societal issues like discrimination and gender gaps, examining their economic implications and policy responses. By combining theoretical frameworks with practical examples, this course equips learners with valuable tools to understand and potentially influence human behavior in various contexts, from consumer decisions to public policy formulation.
4.4
(5 ratings)
Instructors:
English
English
What you'll learn
Analyze nudges and their impact on altering human behavior
Explain the deep psychological processes involved in decision-making
Correlate human behavior with financial decisions and outcomes
Apply behavioral economics concepts to real-life environments and scenarios
Understand heuristics and biases in human judgment and decision-making
Evaluate risk preferences and prospect theory in economic contexts
Skills you'll gain
This course includes:
PreRecorded video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
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There are 6 modules in this course
This comprehensive course on behavioral economics and public policy explores the psychological underpinnings of decision-making and their implications for policy formulation. It begins with an examination of heuristics and biases, including representativeness, anchoring, availability, and overconfidence. The course then delves into human risk preferences, covering topics such as loss aversion, prospect theory, and mental accounting. Students will learn about impatience and self-control, studying concepts like discounting the future and commitment contracts. The curriculum also covers strategic thinking and social preferences, introducing game theory concepts and fairness considerations. A significant portion of the course is dedicated to behavioral public policy, addressing discrimination, gender economics, and policies to reduce societal gaps. The final module focuses on nudges and their application in public policy, teaching students how to design effective choice architectures. Throughout the course, practical examples and real-life applications help students connect theoretical concepts to tangible policy outcomes.
Heuristics and Biases
Module 1
Risk Preference of Humans
Module 2
Impatience and Self Control
Module 3
Strategic thinking and social preferences
Module 4
Behavioral Public Policy
Module 5
Nudges and Public Policy
Module 6
Fee Structure
Instructor

1 Course
Distinguished Marketing Scholar and Consumer Behavior Expert at IIM Bangalore
Professor S. Ramesh Kumar brings over 35 years of combined industrial and academic experience to his role at IIM Bangalore, where he specializes in marketing and consumer behavior. His research interests focus on the Branding-Consumer Behavior Interface, Cultural Dimensions in Marketing, and Consumer Behavior-Digital Marketing Interface, with particular emphasis on applying marketing concepts to the Indian context. Kumar has made significant contributions to academic literature, publishing numerous articles and case studies in reputed national and international journals, including the Journal of Integrated Marketing Communication, Journal of Brand Management, and Ivey Business Journal. His co-authored papers on leading Indian brands across categories demonstrate both academic rigor and practical relevance. Kumar has authored eight books on marketing and consumer behavior, and his textbook "Consumer Behavior" has become a standard reference in the field. His teaching excellence was recognized with the ICFAI Best Teacher Award from the Association for Indian Management Schools (AIMS). Before his retirement in June 2022, he served in various leadership positions at IIMB, including Chairperson of PGPEM and the Marketing area, contributing significantly to the institution's academic excellence and reputation in marketing education.
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4.4 course rating
5 ratings
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