Behavioural Economics & Finance starting
Course delivered by Open University
Study language: English
The objective of the course is to provide an overview of behavioural economics and behavioural finance; to learn to acknowledge, measure and analyse behavioural biases and heuristics; to learn to apply behavioural insights in practice and to understand the ethical limitations of using nudges and choice architecture; to learn how behavioural biases and heuristics affect investment decisions.
The course covers the following topics:
- introduction to behavioural economics
- heuristics and biases
- nudges and choice architecture
- ethical limitations and research methods
- disposition effect
- risk perceptions
- forming portfolios
- representativeness and familiarity
- social interaction and investing
- emotion and investment decision
- self-control and decision making
Upon completion of the course the student:
- knows the key studies and findings of behavioural economics and behavioural finance;
- uses suitable methods for measuring and analysing behaviours;
- considers the ethical limitations of "nudging";
- is able to employ learned knowledge and skills in practice;
- learns many psychological biases that affect decision making,
- understands how these biases affect investment decisions;
- sees how these decisions reduce one’s wealth, and
- learns to recognize and avoid them in one’s life.
Lecturers: Hannu Kahra, Leonore Riitsalu
Price: 285 €
Time schedule: 21.03 kl 14.00-17.15/ 22.03, kl 10.15-13.30/ 28.03 ja 04.04 kl 17.30-20.45
Requirements: Previous Secondary education, Bachelor's Degree or equivalent, passed basic courses of social psychology and finance or practical experience in the field. English langauge B2.