Psychological Perspectives on Economic Behaviour
Summary
Our lives revolve to a great extent around money. We compare prices, we try to save, we want to earn more and we want to be generous to our friends. Behavioural economics, or economic psychology, is an increasingly influential topic in policy and business. In this course you will learn how psychology contributes to a deepened understanding of economic behaviour and the functioning of markets.
About
We make economic choices every day, ranging from which breakfast cereals to buy, to whether to apply for a house mortgage. Economic psychology (or behavioural economics) is an exciting and growing research field at the intersection between psychology and economics. In this course, you will learn how psychological factors affect every day economic behaviour as well as larger financial decisions. The course covers, for example, the relationship between money and happiness, how we judge prices in foreign currencies, stock market psychology, how and why our experience of a product is affected by how much we paid for it, and why financial incentives sometimes have the opposite effect to what was intended.
The course is suited for economics students who seek to complement their knowledge with insights from psychology, and for psychology students interested in economic behaviour. Prior knowledge is however not essential to benefit from the course, just an interest in the combination of economics and psychology.
The teaching consists of lectures and seminars. The seminars are focused around scientific articles and involve discussions and exercises.
Prerequisites and selection
Requirements
For admission to the course, completion of university education of at least 180 credits is required at first cycle level. Language skills equivalent: English 6/English course B from Swedish upper-secondary school or the equivalent knowledge from an international confessed test, such as TOEFL or IELTS.
Selection
Selection is based upon the number of credits from previous university studies, maximum 165 credits.
After graduation
Knowledge in economic psychology/behavioral
economics is valued for jobs in the financial sector. The topic is also of
increasing importance in, for example, management, politics, and professions
dealing with behavioural change.
