- A group presentation assessing all learning outcomes : weighs 40%

- An individual assignment assessing all learning outcomes : weighs
60%

This module introduce students to consumer behavioural economics, its methods and perspectives in relation to its impact and application to ‘real world’ business psychology and decision making as well as policy making issues

Indicative content may include:

Business psychology –
• Nature of Psychological perspective
• Economic psychological models of behaviour, including
entrepreneurial behaviour
• Psychophysics
• Price perception
• Perception of money and inflation
• Expectations regarding business investments

Behavioural economics –
The science of real world decision making
Relationships with other disciplines
Understanding choice
An introduction to theoretical frameworks

• Rational choice theory
• Prospect theory
• Bounded rationality
• Social dimension
• Temporal dimensions
• Heuristics and biases

Applied perspectives –

• Decision making under risk and uncertainty
• Social preferences and persuasion
• Comparing conventional economic assumptions with real
world assumptions
• Incentives, persuasion and choices in markets
• Choice framing and decision making
• How norms, peers and culture influence choice
• Consumer decision making and behavioural economics

1. Demonstrate a good understanding of the principal approaches to business psychology and consumer behaviour in relation to economic decisions of individuals and institutions
Knowledge & understanding
Application

2. Analyse the interaction between the consumer behavioural, psychological and sociological approaches and business psychology and decision making
Analysis
Reflection

3. Understand and apply theoretical aspects of behavioural economics to framing and solving consumption-based problems
Knowledge & understanding
Application

4. Understand and assess the main tools and models of behavioural change
Knowledge & Understanding
Analysis

5. Develop and apply a range of behavioural economic tools to reflect and resolve real world situations Application
Reflection
Problem solving

6. Demonstrate skills and presenting of the application of behavioural economics to evidence-based policy making in relation to sustainable consumption
Application
Communication
Knowledge & understanding
Problem solving
Learning

The learning strategy for the module requires students to commit 300 learning hours (including assessment). There will be 72 hours of class support and 228 hours of independent and self-directed study.

The class sessions will include formal lectures, case study analysis and group discussions based on student experiences in the subject area. Students will be encouraged to apply their new knowledge and skills developed in the classroom as the module progresses.

Students will:
. engage in a mix of lectures/ tutorials and small group activities, plus self-directed learning;
. participate in group activities,
. undertake their own research (using data analysis tools taught within the module); and
. use a statistical software package.

A range of resources, including, University library and IT facilities, the Internet, journals and databases

- Antonies, G. (1991). Psychology in Economics and Business: An
Introduction to Economic Psychology. Springer, ISBN 978-94-015-
7903-2
- Arley, D. (2009) Predictably Irrational: The Hidden Forces That
Shape Our Decisions. Harper Collins, ISBN 978-0-00725653-2
- Kahnemann, (D). (2011). Thinking Fast and Slow. Penguin, ISBN 978-
1-846-14606-0
- Martin, S., & Goldstein, N. (2014). The Small Big: Small Changes that
Spark Big Influence. Profile Books, ISBN 978-1-17283-0757
- Skorepa, M. (2010). Decision Making: A Behavioural Economic
Approach. Palgrave, ISBN 978-0-230-24825-0
- Szmigin, I. & Piacentini, M. Consumer Behaviour. Oxford, UK: Oxford
University Press. - Ulph, A., & Southerton, D. (Eds.). (2014). Sustainable Consumption:
Multi-disciplinary Perspectives In Honour of Professor Sir Partha
Dasgupta. Oxford, UK: Oxford University Press.
- Wilkinson, N., & Klaes, M. (2012). An introduction to behavioural
Economics. Palgrave, ISBN 978-0-230-29146-1