Behavioural Insights for Business and Management
| Module title | Behavioural Insights for Business and Management |
|---|---|
| Module code | BEE2042 |
| Academic year | 2024/5 |
| Credits | 15 |
| Module staff | Dr Helena Fornwagner (Lecturer) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 170 |
|---|
Module description
This module will provide an overview of the important insights from behavioural economics and apply them to business, economics and management decision-making contexts. It will teach students the core theory of behavioural economics, demonstrate how these can be applied to explain and inform the decisions made by stakeholders, workers, and consumers, and ultimately apply to business and policy-relevant issues. The module will focus on conceptual foundations (core assumptions and models), problem-solving and applications.
You should study and pass module BEE1039 before joining BEE2042 (although this is not compulsory).
Module aims - intentions of the module
The aim of this module is to enable you to examine economic theory and concepts from a behavioural perspective, gain insights and hopefully apply it to various business and management related contexts.
Quantitative skills will be developed through a series of problem sets, group work and student presentations. Critical thinking and communication skills will be developed especially in the tutorials.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. explain and analyse the most important contributions of behavioural economics;
- 2. apply the insights from the behavioural economics to critically analysing and understanding many economic behaviours in firms, organizations, and markets;
- 3. understand project reports and journal articles that use the concepts and methods introduced in the module.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. apply economic theory to business case studies;
- 5. evaluate the insights alternative approaches offer in case studies.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 6. demonstrate problem solving skills;
- 7. demonstrate critical thinking and communication skills.
Syllabus plan
Selected topics in behavioural economics related to business and management will be covered. The topics that we may cover (but not limited to) are as follows:
- Game Theory
- Cultural differences in (economic) behaviour
- Behavioural selling tricks
- How to hire a successful and diverse staff
In general, we want to find out what little tips and trick business and their managers can use based on behavioural research to achieve desired outcomes. Additionally, we will focus on why some things in the business world might not work out because humans do not act “rationally”.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 25 | 125 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching | 20 | Lectures |
| Scheduled learning and teaching | 5 | Tutorials |
| Guided independent study | 125 | Reading, researching, preparation for lectures and tutorials, preparation for exam |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Problem sets | Bi-weekly | 1-7 | Verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 20 | 80 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| 5 quizzes | 20 | 5-10 questions every week | 1-3 | Written |
| Presentation | 20 | 5 minute book review | 2, 4-7 | Verbal |
| Examination | 60 | 60 minutes | 1, 2, 4, 6 | Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| 5 quizzes (20%) | Single quiz (20%) | 1-3 | Referral/Deferral period |
| Presentation (20%) | 5 minutes book review | 2,4-7 | Referral/Deferral period |
| Examination (60%) | Examination (60%) 60 minutes | 1, 2, 4, 6 | Referral/Deferral period |
Re-assessment notes
Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.
Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%
Indicative learning resources - Basic reading
Basic reading (selection):
Thaler, Richard H., and Cass R. Sunstein. Nudge: The final edition. Yale University Press, 2021.
Daniel, Kahneman. Thinking, fast and slow. 2017.
Sutter, Matthias, 2022. Behavioral Economics for Leaders: Research-Based Insights of the Weird, Irrational, and Wonderful Ways Humans Navigate the Workplace. Whiley.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | BEE1036 or BEE1029 |
| Module co-requisites | None |
| NQF level (module) | 5 |
| Available as distance learning? | No |
| Origin date | 09/03/2018 |
| Last revision date | 21/02/2024 |
