UNDERSTANDING BEHAVIOUR

By Karan Arora

Offered to: Class of 2020 and 2021

Prerequisites: None

Office Hours: Drop-in sessions and/or by appointment

Influential books by Daniel Kahneman (Thinking fast and slow) and Richard Thaler (Nudge) have introduced the world to a whole new understanding of decision-making full of peculiarities and irrationalities.

These insights have overhauled traditional economic thinking, leading to the birth of behavioural economics which combines some of the best ideas in Economics, Psychology and the other social sciences to vastly improve our understanding of the decision-making process - both rational and irrational (Winning three Nobel Prizes in the past). Most importantly, it provides us with practical, scientific tools to help people make better decisions, and improve the impact of policy actions as seen through the meteoric growth of 'Nudge Units' globally.

This course will give you an in-depth understanding of the work done by some of these scholars and practitioners, and prepare you to apply the new principles of decision-making to improve policy outcomes.

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