• University of Exeter Business School
• Module

Behavioural Insights for Business and Management

Module description

This module will provide an overview of the important insights from behavioural economics and apply them to business, economics and management decision-making contexts. It will teach students the core theory of behavioural economics, demonstrate how these can be applied to explain and inform the decisions made by stakeholders, workers, and consumers, and ultimately apply to business and policy-relevant issues. The module will focus on conceptual foundations (core assumptions and models), problem-solving and applications.

You should study and pass module BEE1039 before joining BEE2042 (although this is not compulsory).

Module aims - intentions of the module

The aim of this module is to enable the students to examine economic theory from a behavioural perspective, gain insights and hopefully apply it to various business and management related contexts.

Quantitative skills will be developed through a series of problem sets, group work and student presentations. Critical thinking and communication skills will be developed especially in the tutorials.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. explain and analyse the most important contributions of behavioural economics;
• 2. apply the insights from the behavioural economics to critically analysing and understanding many economic behaviours in firms, organizations, and markets;
• 3. understand project reports and journal articles that use the concepts and methods introduced in the module.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 4. apply economic theory in case studies;
• 5. evaluate the insights alternative theoretical models offer in case studies.

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 6. demonstrate problem solving skills;
• 7. demonstrate critical thinking and communication skills.

Syllabus plan

Selected topics in behavioural economics related to business and management will be covered. The topics that we may cover (but not limited to) are as follows:

• Decisions under risk and uncertainty

• Temptation and self-control
• Social norms and social approval
• Choice architecture
• Nudges and interventions

In general, we want to find out what little tips and trick business and their managers can use based on behavioural insights to achieve desired outcomes. Additionally, we will focus on why some things in the business world might not work out because humans do not act “rationally”.

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

The assessment structure of this module is subject to review and may change before the start of the new academic year. Any changes will be clearly communicated to you before the start of the term, and if you wish to change the module as a result of this, you can do so in the module change window.

Indicative learning resources - Basic reading

Basic reading:

• Angner, Eric. (2020). A Course in Behavioral Economics (3rd edition). Macmillan International Higher Education.
• Thaler, Richard and Sunstein, Cass R.. (2009). Nudge. Improving Decisions about Health, Wealth and Happiness, Penguin Books
• Thaler, Richard. 1992. The Winner’s Curse. Paradoxes and Anomalies of Everyday Life. A Russell Sage Foundation Book. The Free Press, NY.
• Sutter, Matthias, 2022. Behavioral Economics for Leaders: Research-Based Insights of the Weird, Irrational, and Wonderful Ways Humans Navigate the Workplace. Whiley.

Key words search

Behavioural Economics