Behavioural economics: where economics meets psychology, and why it matters
Behavioural economics is arguably the fastest growing field in economics. Helped by the popularity of books like Nudge, it has moved into the mainstream of business and policy, especially relating to behaviour change.
Standard textbook economics assumes that we make decisions based on a rational analysis of inputs and outputs: we are individual maximisers, and act in our own best interests. Sometimes this is true, but often it isn't: behavioural economics recognises that people have limited time and capacity to weigh the costs and benefits of their decisions, which can lead to behaviours like procrastination or failing to properly consider risk and probability.
Behavioural economics explains the reasons behind such phenomena. It considers how our unconscious combines with our environment to influence our decisions. It shows why these things matter, and what we can do about them, in areas that range from personal finance to health and the environment.
Academic activities
I design and deliver a range of modules on behavioural economics to final year undergraduates and to postgraduate students in Brighton Business School at the University of Brighton. These popular modules are taught using a mixture of lectures and seminars, with the emphasis on class experiments and discussion.
Undergraduate modules run over one or two semesters: some students opt to take an elective which combines the taught material with their own research interests in behavioural economics. For postgraduate students, the elective is taught during one intensive week.
I also teach introductory sessions on behavioural economics to postgraduate students in the Brighton and Sussex Medical School.
Commercial activities
For organisations wishing to consider the impact of behavioural economics on their activities, I provide bespoke presentations and workshops. These can range from a conference style introduction, to longer and more interactive sessions - from a half day and up, depending on client needs, budget and availability.
Sessions are dedicated to making the main ideas behind behavioural economics accessible and relevant to the organisation, its employees and its clients. The style is highly interactive, with an emphasis on the application of behavioural economics.
Examples include:
- A Practical Introduction to Behavioural Economics - tailored to specific industries or themes
- Behavioural Economics Master Class for Senior Managers
- Behavioural Economics and Policy
- Behavioural Economics and Business
- Behavioural Change: Behavioural Economics and Social Marketing - with Social Marketer Viv Caisey, FCIM
To discuss your requirements, please call O845 094 5581 or send me an email:
stephenyoungorguk@gmail.com