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MICROCREDENTIAL

Behavioural Decision Making

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. Important concepts drawn from psychology and economic theory will be explored, along with 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.

Enrolment conditions

COVID-19 response 

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.

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.

Assessment

Task 1: Online quiz (individual) - weighting: 40%

  • This assessment requires participants to answer a series of short questions or multiple choice questions. The questions relate to the content of the course covered so far.

Task 2: Essay (individual) - weighting: 60%       

  • Participants will be required to read and summarise an article describing policy applications of behavioural research involving decision makers (individuals/organisations) facing a situation of strategic interaction
  • Participants will be required to gather information from different documents presented to them. Using the notions learned in the course, participants will discuss the article in terms of the welfare of the decision-makers and of the third-parties
  • The assessment is required to be presented in essay form.

In order to pass the microcredential, participants must complete all assessment tasks and achieve at least 50% of the course’s total marks.  

Requirements

Mandatory

  • 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.

Discounts

Discounts are available for this course as follows:

  • 5% discount for UTS alumni
  • 5% discount for strategic partners
  • 5% discount for 2 enrolments in UTS Business School microcredentials (same person or same organisation)
  • 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 support@open.uts.edu.au 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 in your UTS Open Profile (under “A bit about you”). If you have forgotten your UTS student number, email support@open.uts.edu.au 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 code?” prompt and click on the blue "Apply" button 
  • Verify your voucher code has been successfully applied before clicking on the blue "Checkout" button. 
$2,271.00

START DATE

16 January

MODE

Online

DURATION

7 wks

COMMITMENT

Avg 10 hrs/wk

Make an enquiry

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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 has become fascinated by behavioural economic thinking since the early stages of his Master’s in Economics at LMU Munich. Since then he views his world through the lens of behavioural and experimental economics. His research interests range from how to help the poor overcome their self-control problems using commitment devices, to digital in-app nudges in the private banking sector to improve credit card repayment.

Max has not just laboured over chalkboards his entire career but has worked extensively within the industry. As a behavioural scientist at the Commonwealth Bank of Australia, he gains powerful new insights - data-driven and evidence-based, to improve Australians’ financial wellbeing. A career goal of Max's is to help bridge the gap between industry and academia.

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Book a session

Mon 16 Jan 2023 -
Sun 05 Mar 2023
Expert: Elif Incekara-Hafalir, Maximilian Reisner
  • Online via Zoom
  • Online
  • 4 sessions, 4 hours total

Enrolments close at 11.59pm, 23 December 2022 (AEST). Participants will need to undertake approximately 10 hours of self-directed online learning each week over 7 weeks.

Mon 13 Mar 2023 -
Sun 30 Apr 2023
Expert: Elif Incekara-Hafalir, Maximilian Reisner
  • Online via Zoom
  • Online
  • 4 sessions, 4 hours total

Enrolments close at 11.59pm, 12 March  2023 (AEST). Participants will need to undertake approximately 10 hours of self-directed online learning each week over 7 weeks.

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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.

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