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ThisÌý module provides students with an opportunity to explore the intersection between psychology and economics and therefore to gain understanding of how psychological theory helps explains economic decision-making that deviates from rational action. It will: 1. develop learning of specific psychological theories and concepts that underpin human behaviour that seemingly ‘go against’ rational choice in economic terms and / or are inconsistent with prior behaviours; 2. explore economic problem sets to ensure that students understand the underlying mechanisms; 3. provide opportunities for students to investigate and apply developing knowledge to real-world problems; and 4. support understanding of how these insights influence social and economic policy.

This Year 2 optional module provides students with an opportunity to explore the intersection between psychology and economics, two of the core disciplines studied on the degree programmes in SRI. The module allows students to gain understanding of how psychological insights influence economic decision-making. It will: 1. develop learning of specific psychological theories and concepts that underpin human behaviour that seemingly ‘go against’ or are inconsistent with standard rational choice models in economics; 2. explore economic problem sets to ensure that students understand the underlying mechanisms; 3. provide opportunities for students to investigate and apply knowledge to real-world problems; and 4. support understanding of how these insights influence social and economic policy.ÌýÌý

Students will learn the essential economic toolkit, delivered in the first week, that will support learning throughout the module. Delivery will then deliberately focus on either psychology or economics, focussing on key psychology theory that explains anomalous economic behaviours, that will then be explored from an economics modelling perspective in the following week’s lecture and seminar. Seminars will offer opportunities for students to explore real-world problems where these behaviours are manifested through a broad variety of activities, as well as providing opportunities for students to practise and prepare for the module assessments. The final week will draw together the areas explored during the module and pull together some of the ethical questions that behavioural insights pose, considering next steps for this area.ÌýÌý

Students will therefore bring together two core social sciences disciplines and understand how they intersect. They will develop analytical and critical thinking skills, learning how to apply knowledge to real world situations.ÌýÌý

They will also have opportunities to develop their own scholarship, through peer review, discussion, team work and small group presentations which will form an integral part of the delivery of the module’s lectures and seminars.ÌýÌýÌý

The learning outcomes will include:Ìý

• Develop and enhance critical-thinking skillsÌý

• Develop capacity to carry out relevant researchÌýÌý

• Develop oral presentation skillsÌý

• Develop familiarity with new psychological theories and conceptsÌý

• Develop understanding of economic principlesÌý

• Develop understanding of the intersection of these disciplinesÌý

• Further develop skills for reading and comprehension of empirical and technical articlesÌý

• Develop skills to solve economic problemsÌý

• Apply knowledge to real-world scenariosÌý

• Understand how psychology and economics impact social and economic policyÌý