Dan Ariely – behavioural economics – free course

In today’s article, I will share details of a free online course on behavioural economics that starts on 25 March 2013. This course is going to be conducted by Dan Ariely.

Behavioural economics and behavioural finance teaches us more about how we think when it comes to economic decisions.

If you are serious about becoming a better investor, the first step is to understand your mental make-up. How do you take decisions? How do you react? How do you make mistakes? Do you repeat mistakes?

More importantly, how can we avoid mistakes and take better decisions. This is possible if we know ourselves better.

I have already joined this course today.

What is behavioural economics?

Wikipedia has this definition,

Behavioral economics and the related field, behavioral finance, study the effects of social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and the resource allocation.

Who is Dan Ariely?

Dan ArielySource: Bill Holsinger-Robinson

Dan Ariely is the Professor of Psychology & Behavioral Economics at Duke University. He is the author of multiple best-seller books including,

  1. Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions
  2. The (Honest) Truth About Dishonesty: How We Lie to Everyone—Especially Ourselves

 

What is the course content?

WeekTopicDescription
PrecourseIntroduction to Behavioral EconomicsBackground and General Introduction to the class and the field of behavioral economics
Week 1IrrationalityVisual and Decision Illusions, Defaults, Preferences, Choice Sets, Coherent Arbitrariness, and Learning from our Mistakes
Week 2Psychology of MoneyOpportunity Cost, Relativity, Pain of Paying, Mental Accounting, Fairness and Reciprocity, Loss Aversion, The Endowment Effect, Market versus Social Norms, FREE, and Micro-payments
Week 3DishonestyThe Simple Model of Rational Crime, Shrinking and Expanding the Fudge Factor, Conflicts of Interest, and Cheating Over Time and Across Cultures
Week 4Labor and MotivationExtrinsic versus Intrinsic Motivation, Meaning, Acknowledgement, the IKEA Effect, the Not-Invented-Here Bias, Cognitive Dissonance, High Stress and Performance, and Big Bonuses
Week 5Self-controlProblems with Self-control, Reward Substitution, Ulysses Contracts, and The Individual and the Environment
Week 6EmotionTwo Systems, Intra-empathy Mismatch, The Identifiable Victim Effect, Emotional Decision Making, and Risk Assessment
PostcourseApplicationsApplications of Behavioral Economics to the Real World

Source: Coursera

How do I join?

Visit the Coursera website and join the A Beginner’s Guide to Irrational Behavior Course by Dan Ariely.

Join the Start Stock Investing E-Course. It's free.

15 lessons over 15 weeks. Over 500 people who have already signed up. Start off. Learn how to invest in stocks for the long-term.

Comments

  1. Anil Kumar Tulsiram says

    Thanks a lot for sharing this.

    Though I have read about behavior finance in my CFA course, after reading some of the articles I realized there is still a LOT to be discovered. I have been planning to devote some time to explore this field. Hope to complete this course.

    • says

      You’re welcome.
      I too have read about behavioural finance over time but never in a concentrated course or a module. This should be good. Lets see how it goes from the 25th onwards.

  2. says

    I see you share interesting things here, you can earn some extra cash,
    your website has huge potential, for the monetizing method, just type in google
    - K2 advices how to monetize a website

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