IIMBx launches MOOC on Behavioral Economics and Public Policy on edX
IIMBx has launched a new course, ‘Behavioral Economics and Public Policy’, on the edX platform. It is a six-module course which introduces Behavioral Economics, through various tools and techniques, and gives the learner a detailed perspective on decision-making. It details the various psychological processes a consumer goes through while making a decision using topics like nudges, choice architectures, some notions of fairness and real-life examples. It also contextualise how a simple nudge can change a person’s decisions, strategies and choices.
The course touches upon indicators like Heuristics and biases, growth biases and risk preferences. It also introduces terms like loss aversion, sunk costs and discounting. It delves into the topic of discrimination, its types, evidence and consequences, and how policies have been introduced to reduce various gaps.