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Behavioural Decision Making

$ 2,691.00


06 May




7 wks


Avg 10 hrs/wk

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Lead academic

Elif Incekara-Hafalir

Elif Incekara-Hafalir
Course Designer and Lecturer, Economics Discipline Group

Elif Incekara-Hafalir joined the UTS Business School Economics Discipline Group in July 2017. After receiving her PhD in Economics from Penn State University in 2007, Elif went on to hold academic positions at Carnegie Mellon University.

Her research interests include behavioural economics, experimental economics, consumer financial decision making, and applied microeconomics, for which she has been published in several academic journals. Elif has also recently contributed her expert knowledge of consumer decision making in financial contexts to expert panels to advise industry partners, such as the Commonwealth Bank of Australia.

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Maximilian Reisner

Maximilian Reisner
Course facilitator, Economics Discipline Group

Max is a Behavioural Economist. With close to a decade of experience in both academia and industry, he is partnering with major Australian organisations to help them understand the psychology of why people act, decide, change and buy. Moreover, he guides companies on how to better communicate with the irrational brain, whether it’s fostering employee engagement or inspiring customers to develop a connection with their brand.

Max’s research looks into whether Australians trust their banks’ AI algorithms enough to forego autonomy and are willing to delegate decision-making, how commitment devices can help those struggling with self-control issues, and whether digital in-app nudges can improve credit card repayment in the private banking sector.

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Drawing on insights from psychology and economics, behavioural economics is a rapidly growing discipline which helps us to better understand how people make decisions in economic situations. During this microcredential you will explore these valuable insights, learning how and when they can be applied in order to develop better solutions for stakeholders.


About this microcredential

This microcredential is designed to introduce you to the rapidly growing field of study known as Behavioural Economics. During the course, we will explore important concepts drawn from psychology and economic theories and will investigate current applications of behavioural economics tools and concepts as they have been applied in industry and government contexts.

Key benefits of this microcredential

This microcredential has been designed to equip you to:

  • Develop skills and apply tools that will help you analyse behavioural factors in decision making by customers and stakeholders, helping you to develop better solutions, without the guess-work
  • Develop the ability to analyse behavioural and experimental studies to better understand what insights they can provide in decision making processes.

This microcredential aligns with the 3 credit point subject, Behavioural Decision Making (23710), in the Graduate Certificate in Behavioural Economics (C11299).

This microcredential may also qualify as recognition of prior learning at this and other institutions.

Who should do this microcredential? 

This microcredential will be beneficial to anyone who is looking to better understand how the decision making process works and how it can help us predict or interpret the behaviour of others. Accordingly, it will be useful to a broad array of professionals, including those working in the public sector and across a wide array of industries.

Specifically, this microcredential is suitable for:

  • Government policy officers, researchers and advisors
  • Marketing and sales professionals
  • Product developers and designers
  • UX/UI designers
  • Software developers
  • Human resources professionals
  • Business development managers.


Full price: $2,691 (GST-free)*

Special price $2,340 (GST-free)* 

*Price subject to change. Please check price at time of purchase. 

Discounts are available for this course. For further details and to verify if you qualify, please check the Discounts section under Additional course information.

Payment on invoice requests must be paid in full and reconciled by our Finance team before you can access your online course materials. Please make sure your invoice payments reference the UTS Open invoice number. You can also forward remittance advice to

Enrolment conditions

Course purchase is subject to UTS Open Terms and Conditions. 

COVID-19 response 

UTS complies with latest Government health advice. Delivery of all courses complies with the UTS response to COVID-19.

Additional course information

Course outline

The following content will be explored during the course:

  • Reference dependence
  • Context effects, heuristics and biases
  • Time preferences
  • Risk preferences
  • Mental accounting.

Course delivery

This course is delivered online using a range of resources, self-directed study and live interactive sessions with the academic. Course content will be presented to participants in a variety of formats (lecture slides, notes, videos, articles) and delivered online. At the beginning of the course, participants are expected to review materials and complete tasks on their own before attending online review sessions with the lecturer that are spread over the learning period. While materials will be provided to participants via the learning management system, you are also expected to seek information independently. Feedback will be given following formative assessment and during online sessions.

Participants will need to undertake approximately 10 hours of self-directed online learning each week over 7 weeks.

Course learning objectives

Upon successful completion of this course, participants should be able to:

  • Apply insights from psychology and other related disciplines in economic situations
  • Interpret the role of behavioural factors in decision making
  • Analyse behavioural and experimental studies.


Task 1: Online quiz (individual) - weighting: 35%

  • This task requires participants to answer a series of short questions with 2-3 paragraphs and/or multiple choice questions. The questions are about the content of the course covered so far.

Task 2: Case study: report as a video presentation (individual) - weighting: 65%       

  • Participants will analyse one of the projects undertaken by the Behavioural Economics Team of Australia. Participants will have to gather information from different documents presented to them to discuss and to analyse the design of the project. The delivery of the task is by a video. Participants can use webcam/phone camera to record themselves.

In order to pass the microcredential, participants must achieve at least 50% of the microcredentials total marks.



To complete this online course, you will need a personal computer with adequate internet access and sufficient software and bandwidth to support web conferencing. You will also require an operating system with a web browser compatible with Canvas and Zoom.


Discounts are available for this course as follows:

  • 5% discount for strategic partners
  • 5% discount for 2 enrolments in UTS Business School microcredentials (same person or same organisation)
  • 10% discount for UTS alumni
  • 10% discount for 3 or more enrolments in UTS Business School microcredentials (same person or same organisation)

Discounts cannot be combined and only one discount can be applied per person per course session. Discounts can only be applied to the full price. Discounts cannot be applied to any offered special price. 

How to obtain your discount voucher code

  • Please contact the team at with your student number, strategic partnership details or details of group enrolments, to obtain your discount voucher code. 

How to apply your discount voucher 

  • If you are eligible for a UTS alumni discount, please ensure you have provided your UTS student number during checkout. If you have forgotten your UTS student number, email with your full name, UTS degree and year of commencement.  
  • Add this course to your cart 
  • Click on "View Cart" (blue shopping trolley at top right of screen). You will need to sign in or sign up to UTS Open 
  • Enter your eligible code beneath the "Have a voucher code?" prompt and click on the blue "Apply" button 
  • Verify your voucher code has been successfully applied before clicking on the blue "Checkout" button. 


Contact us

Book a session

Mon 06 May 2024-
Sun 23 Jun 2024
Expert: Elif Incekara-Hafalir, Maximilian Reisner
  • Online via Zoom. Click on the underlined sessions and hours total link below to reveal specific session details.
  • Online
  • 4 sessions, 4 hours total

Enrolments close on Monday 22 April 2024, 11.59pm AEST or when all places have been filled, whichever occurs first. If you anticipate a late enrolment, please email Note that invoices must be paid in full and reconciled by our Finance team before you can access your online course materials.


Acknowledgement of Country

UTS acknowledges the Gadigal people of the Eora Nation, the Boorooberongal people of the Dharug Nation, the Bidiagal people and the Gamaygal people, upon whose ancestral lands our university stands. We would also like to pay respect to the Elders both past and present, acknowledging them as the traditional custodians of knowledge for these lands.