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.

Any absence from class should be notified to the course tutor in advance, regardless of whether the class takes place in onlince or presence mode. In line with the WU's course attendance requirements, you cannot miss more than 6 hrs of class (equivalent of two class sessions) over the entire semester.  This allowance is for serious unforeseen circumstances and should not be used simply for taking time-off, job interviews, working, planned into holidays or similar.

Exams (60%): Four exams (15% each). Each exam lasts half an hour. You are asked to answer 3 out of 4 questions.

Individual Essay (40%)

• Free choice of topic
• Build on course materials & critically reflect them
• Word limit: roughly 6 000 words
• Submission deadline: 2 July 2024. This is a strict deadline. Submissions within 24 hours after the deadline will be accepted with a mark-down of 25% of points. Thereafter, we will not accept any late submissions. No exceptions. All submissions have to be uploaded at Learn@WU.