Behavioural Economics Diploma
Introducing the Behavioural Economics Diploma, a comprehensive online course designed to provide learners with a deep understanding of the intricate world of behavioural economics. This course not only aims to introduce fundamental concepts but also offers insights into how these concepts play a pivotal role in the decision-making processes in real-world scenarios.
Behavioural Economics, at its core, is the study of how psychological, social, cognitive, and emotional factors influence the economic decisions of individuals and institutions. With the rise of the digital age and increased interconnectivity, understanding human behaviour is more crucial than ever. The Behavioural Economics Diploma provides a platform for learners to grasp these concepts from the comfort of their homes.
The course starts with an ‘Introduction to Behavioural Economics’. This module sets the stage by detailing the foundations of this field, preparing learners for the in-depth content that follows. This is the first step towards understanding why people often make irrational decisions, even when they have all the necessary information at hand.
Next, learners will explore ‘Heuristics and Biases’, which delves into the shortcuts our brains take when making decisions. These shortcuts might often lead to errors, but understanding them can be the key to predicting certain behaviours.
The module on ‘Prospect Theory and Loss Aversion’ presents the idea that losses usually have a more substantial emotional impact on people than gains. This is pivotal in understanding many financial decisions and predicting market behaviours.
‘Time Inconsistency and Present Bias’ highlights how people might value immediate rewards more than future ones, even if the latter is more significant. This bias is often evident in our daily lives, be it in our spending habits, savings, or even in our diet and exercise regimes.
‘Social Preferences’ focuses on how individuals’ decisions are influenced by societal norms, peer pressure, and the behaviours of those around them. In a world where social media plays a significant role, this module is especially relevant.
Through the ‘Bounded Rationality’ section, learners will understand that people have limits to their thinking and that they can’t always make the most rational decisions because of these limitations.
‘Nudges and Choice Architecture’ shows how small changes in the way choices are presented can significantly influence the decisions people make. This module is especially relevant for those interested in marketing or policy-making.
For those keen on understanding the financial market’s behavioural aspects, ‘Financial Behaviour and Behavioural Finance’ provides insights into why and how the market often behaves irrationally.
One of the course’s most practical modules, ‘Behavioural Insights in Public Policy’, demonstrates how understanding behavioural economics can lead to better policy-making, benefiting societies at large.
Lastly, ‘The Future of Behavioural Economics’ offers a glimpse into the exciting possibilities this field holds, its potential growth areas, and how it might shape the world in the coming years.
In summary, the Behavioural Economics Diploma is not just another online course. It is a journey into understanding human behaviour, making it a valuable asset for those in marketing, finance, policy-making, or anyone keen on understanding the dynamics of decision-making. Enrolling in this course is a step towards mastering the art and science of predicting, influencing, and understanding decisions in an increasingly complex world.
What you will learn
1: Introduction to Behavioural Economics
2: Heuristics and Biases
3: Prospect Theory and Loss Aversion
4: Time Inconsistency and Present Bias
5: Social Preferences
6: Bounded Rationality
7: Nudges and Choice Architecture
8: Financial Behaviour and Behavioural Finance
9: Behavioural Insights in Public Policy
10: The Future of Behavioural Economics
After completing the course, you will receive a diploma certificate and an academic transcript from Elearn college.
Each unit concludes with a multiple-choice examination. This exercise will help you recall the major aspects covered in the unit and help you ensure that you have not missed anything important in the unit. The results are readily available, which will help you see your mistakes and look at the topic once again. If the result is satisfactory, it is a green light for you to proceed to the next chapter.
Elearn College is a registered Ed-tech company under the UK Register of Learning( Ref No:10062668). After completing a course, you will be able to download the certificate and the transcript of the course from the website. For the learners who require a hard copy of the certificate and transcript, we will post it for them for an additional charge.