6 Best Behavioral Economics Courses [APR 2024]
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What is Behavioral Economics?
Behavioral economics is interdisciplinary economics that studies the effects of psychological, social, and cognitive factors on the economic decisions of individuals and institutions and how those decisions vary from those predicted by classical economic theory. It combines insights from psychology, neuroscience, and other social sciences to understand how people make decisions, including how they value goods and services.
Why is Behavioral Economics important?
Behavioral economics is important because it provides insights into how people make decisions, which can help design more effective and efficient policies and programs. Additionally, it helps explain why people don't always make good decisions for themselves and how this impacts economic outcomes. Furthermore, it can help to develop products and services that are more likely to be successful with consumers.
Top Behavioral Economics Courses
- Behavioral Economics and Neuromarketing
- Behavioral Finance
- Behavioral Economics: An Introductory Course
- Behavioral Economics and Public Policy
- Introduction to Behavioral Economics & Consumer Psychology
- Behavioral Economics in Action
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1. Behavioral Economics and Neuromarketing
This course teaches participants how to influence consumers' decisions in the ways they want. You will learn about the psychological basis for these behaviors and see examples of real-life behaviors that prove these rules. Additionally, you will learn how to conduct A/B tests to make informed product decisions.
In this Behavioral Economics course, you will learn:
- learn how brands use neuromarketing rules to affect your decisions.
- affect the decision-making flows of consumers.
- structure your own behavioral experiments.
- run A/B tests to make critical decisions about your products.
- apply neuromarketing rules to your products or marketing campaigns for better monetization.
- optimize pricing based on biases.
- learn how the human brain makes decisions.
- increase sales of your products using nudges.
People who would benefit from this course include entrepreneurs, product managers, marketing specialists, sales campaign managers, pricing experts, service designers, and user experience experts, as well as anyone who wishes to make better decisions in life.
- Course rating: 4.4 out of 5.0 (1,823 Ratings total)
- Duration: 1 Hour 29 Minutes
- Certificate: Certificate of completion
2. Behavioral Finance
We make thousands of decisions every day. Should I cross the road now or wait for the oncoming truck to pass? Is it better to have fries for lunch or a salad? These decisions are usually made without much thought, using what psychologists call "Heuristics" - rules of thumb that help us make decisions. The multitude of daily choices would paralyze us if we did not have these mental shortcuts.
There are times, however, when shortcuts lead to predictable errors - if we know what to watch out for. Therefore, this course examines these predictable errors and identifies the areas where we are most vulnerable. This course will assist participants in making better financial decisions. Also, you will learn how to make better financial decisions for the future in terms of spending, saving, and investing.
- Course rating: 4.4 out of 5.0 (3512 Ratings total)
- Duration: 5 Hours
- Certificate: Certificate of completion
3. Behavioral Economics: An Introductory Course
Understanding economics helps us better understand global politics and the tensions between nations today. But it is also the study of human behavior and how we act in an economic setting. Therefore, this Behavioral Economics course will help you understand the world around you!
In this Behavioral Economics course, you will learn:
- Main principles of Behavioral Economics.
- Comprehensive knowledge of rational economics.
- Knowledge of Neoclassical economic assumptions.
- About Rational thinking of consumers.
- Dual System Model
- Cognitive biases
- Choice architecture
- Nudge Theory
You will learn about the main principles of Behavioral Economics and Rational Economics. Additionally, you will possess the knowledge of Neoclassical economic assumptions and the rational thinking of consumers.
- Course rating: 4.8 out of 5.0 (19 Ratings total)
- Duration: 1 Hour
- Certificate: Certificate of completion
4. Behavioral Economics and Public Policy
This course introduces students to the concept of behavioral economics through various tools and techniques and explains decision-making from a detailed perspective. It will cover topics like nudges, choice architectures, notions of fairness, and real-life examples to help understand consumer psychology when making a decision.
In this Behavioral Economics course, you will:
- Explain and analyze nudges and how choices can alter a person’s behavior.
- Understand decision-making and its deep psychological processes.
- Correlate human behavior with financial decisions.
- Understand the various choices and strategies that we take in real-life environments by practical examples.
Also, the course contextualizes how a simple nudge can change someone's choices, strategies, and decisions. It discusses indicators such as heuristics and biases, growth biases, and risk preferences. Additionally, sunk costs, discounting, and loss aversion will be discussed in the course. It will distinguish between the thought processes of economists and humans.
Lastly, the course discusses discrimination, its types, evidence, and consequences, as well as how policies have been introduced to reduce the disparities.
- Duration: 6 weeks (3-4 Hours)
- Certificate: Certificate of completion
5. Introduction to Behavioral Economics & Consumer Psychology
This course reveals some of the most surprising and counterintuitive facts about consumer psychology and behavioral economics. In this well-rounded course, you will learn how to apply three powerful psychological principles to improve your business results. In addition to useful tips and fun facts, it is also filled with anecdotes that make learning enjoyable.
In this Behavioral Economics course, you will learn:
- The nitty-gritty the 3 of the most powerful psychological principles (Loss aversion, Fairness, Choice overload).
- Different ways how to apply each of them to your ads, landing pages, emails, sales funnels, and everything in between.
- Dos and don’ts for each principle.
- How to reframe your message to get your foot in the door.
- How to present your offer in a way that makes people click.
- How to come up with solutions and ideas you otherwise wouldn't think of but have the potential to change your world forever.
This course will teach you how to use Behavioral Economics in business, marketing, and customer service. You will learn several simple tricks business owners can use to justify pricing increases that use psychology and behavioral economics.
- Course rating: 4.9 out of 5.0 (411 Ratings total)
- Duration: 1 Hour 15 Minutes
- Certificate: Certificate of completion
6. Behavioural Economics in Action
The course encompasses much of the fascinating work in behavioral economics. It provides learners with a hands-on approach by understanding its methods and, even more importantly, how it can be harnessed by suitably designing contexts to "nudge" decisions.
In this Behavioral Economics course, you will learn:
- Develop an understanding of the philosophy and the principles underlying the field of behavioral economics
- Understand the differences between choice architecture/nudging and other approaches to behavior change.
- Understand the key elements of an experiment, differentiate between three basic types of experimental designs, and gain insight into ANOVA and regression techniques for analyzing data.
- Use a prescribed process for designing your own nudges, and identify specific resources and tools you will need to execute a nudging strategy.
- Apply some of the learnings and ideas to policy and business.
If you want to use behavioral economics effectively, you must understand experimental design and interpretation, which will set you apart from people who merely know about behavioral results. After we learn the basic principles, we will study experimental design and analysis for two weeks. The final two weeks will focus on building nudges and helping people make better decisions.
- Course rating: 4.5 out of 5.0 (2,285 Ratings total)
- Duration: 38 Hours 39 Minutes
- Certificate: Certificate of completion
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