This course focuses on the human element of the economic system. We examine a wide range of behavioural science theories from neo-classical economics, psychology, behavioural economics, sociology, and complexity economics to better understand how humans behave and make decisions that impact the economy, the environment, and society. The course focuses on the wide range of cases where people might make decisions that are inconsistent with standard economic theory and the assumptions of rational decision making. These cases include “irrational” patterns of thinking about money and investments, how expectations shape perception, economic and psychological analyses of dishonesty by honest people, how social and financial incentives work together (or against each other) in labour, and the role of self‐control and emotions (rather than cognition) in decision making. The course presents an interdisciplinary perspective on how to understand, research and change human behaviour.

For your optimal learning experience your course instructors employ the inverted classroom teaching method (“blended learning”). Therefore, your weekly 3-hours sessions will be split into two parts. For the first half (thematic input) your course instructors will provide you with recorded lectures prior to the in-class session. To prepare yourself for class you need to watch the recorded lecture as well as read the respective course literature. The second half of the lecture takes place in class in small groups to work in a problem-based mode. In this part, you will apply and discuss your readings and insights from recorded lectures.

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