Decision-making and Analytics Awards
Behavioural Science in Consumers and Markets
Overview In this programme, you’ll delve into the intricate landscape of decision-making, exploring a diverse range of theoretical perspectives. The course will provide a comprehensive examination of how individuals navigate their choices, with a particular focus on consumer behaviour and market participation. You’ll gain insights into how these theories of behaviour can predict how people will react to money, promotions, risks, uncertainty, long-term planning, and even just the way in which a number is described. Importantly, the programme will demonstrate how this knowledge can be applied for better personal decision- making, better design of products & services, and more effective workplaces. How is the programme structured? This Postgraduate Award will run across four days of face-to-face teaching at our London base in The Shard, with a six week window to complete your assignments. You will consolidate your learning through relevant assignments that will provide useful tools to take back to your organisation. The assessment of this programme is based on TWO individual assignments (100%): ■ Individual assignment: case study analysis (50%) ■ Individual assignment: reflective essay (50%)
Key information
Programme Structure
Duration
4 days
Day 1 Introduce fundamental
Location
London - The Shard
frameworks for thinking about human behaviour and decision making.
Format
Part-time
Website
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Day 2 Study the moral psychology behind decisions. You’ll examine a number of real-world case studies and historic examples to understand some of the cognitive and moral considerations that humans make. Day 3 Explore the foundational behavioural science knowledge on how people perceive risk, probability and time. You’ll examine the ways in which people are biased in their perceptions. Day 4 Examine incentives, preferences, and decision making in market and social interactions, including field evidence from consumer and labour markets. A guest speaker will also discuss consumer choices and behaviour.
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What will I learn
Explain and critically evaluate core theories of subjective utility (satisfaction) and preferences. Understand how behavioural science insights and theory predicts sometimes irrational preferences of consumers and managers. Understand how behavioural research can explain larger patterns within everyday market transactions, including private good and labour markets (or workplaces).
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You’ll be able to apply the concepts to shape consumer
choices and reduce the impact of cognitive biases and psychological inclinations of individuals within their organisation, including moral considerations.
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Executive Education 2023
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