The Psychology of Economic Decision-making

This session will bring economics down to earth and get you thinking about how we think about our world. Mixing human psychology with a practical understanding of economic incentives and market behaviour, we will explore how understanding human miscalculations can help us make smarter decisions in both our private and professional lives.

Overview

This session will bring economics down to earth and get you thinking about how we think about our world. Three recent winners of the Nobel Prize in Economics, Daniel Kahneman (2002), Robert Shiller (2013) and Richard Thaler (2017), have pioneered the application of behavioural insights from psychology to economic decision-making. Mixing human psychology with a practical understanding of economic incentives and market behaviour, we will explore how understanding human miscalculations can help us make smarter decisions in both our private and professional lives.

Objectives

• Explore the biases and heuristics that influence how we perceive the world.
  
• Understand how these biases and heuristics affect economic and financial decision-making.
• Learn how to make better decisions for ourselves and our clients or stakeholders.