Behavioral Economics: An Introductory Course from Udemy

Hi, I'm Brad, and have you ever wondered why we don’t always make perfectly rational decisions, especially when it comes to money, resources, or time?

Welcome to my Behavioral Economics course—a deep dive into the fascinating interplay of psychology, decision-making, and economics.

This course is designed for anyone eager to understand the quirks of human behavior in economic settings and beyond. It’s not just about numbers or graphs; it’s about people—their stories, choices, and the forces shaping their decisions every day.

Complete with engaging video lessons and downloadable notes, this course covers:

An Introduction to Behavioral Economics
A Critique of Rational Economic Thought
The Assumptions of Neoclassical Economics
Why Consumers Don’t Always Think Rationally
The Dual System Model
Cognitive Biases
Choice Architecture
Nudge Theory
And, of course, my love of Economics that I hope is contagious.

Behavioral Economics challenges the traditional economic view that humans are entirely rational beings. Instead, it explores how emotions, biases, and environmental cues influence our decisions. It’s eye-opening, relatable, and incredibly applicable to everyday life—from understanding personal choices to tackling global challenges.

By the end of this course, you’ll have a toolkit of ideas to interpret human behavior through an economic lens, whether for personal growth, business, or just satisfying your curiosity about what drives the world around us.

A Weekly Bonus

As a student in this course, you’ll also receive a subscription to my weekly newsletter, Just One Thing. Each Monday, I’ll send you a quick, two-minute breakdown of one key economic concept. It’s a simple, stress-free way to expand your understanding of the world, one idea at a time.

I’ve been fortunate to explore the world as a Peace Corps Volunteer, a graduate of Duke University, and someone who has traveled to over 55 countries. These experiences shape my approach to teaching Economics as a study of people—how we act, decide, and influence the world around us.

I’m excited to join you on this journey into Behavioral Economics.

What's inside

Learning objectives

A love of economics that i hope is contagious!
This course is an ideal companion to any introductory economics class in the world!
A thorough understanding of the main principles of behavioral economics
A thorough understanding of the critique of rational economic thought
A thorough understanding of the assumptions of the neoclassical view of economics

A thorough understanding of the critique of consumers' rational thinking
A thorough understanding of the dual system model
A thorough understanding of cognitive biases
A thorough understanding of choice architecture
A thorough understanding of the nudge theory

A love of economics that i hope is contagious!
This course is an ideal companion to any introductory economics class in the world!
A thorough understanding of the main principles of behavioral economics
A thorough understanding of the critique of rational economic thought
A thorough understanding of the assumptions of the neoclassical view of economics
A thorough understanding of the critique of consumers' rational thinking
A thorough understanding of the dual system model
A thorough understanding of cognitive biases
A thorough understanding of choice architecture
A thorough understanding of the nudge theory

Syllabus

Behavioral Economics

Introduction Behavioral Economics - A Critique of Rational Economic Thought

Assumptions of Neoclassical View of Economics

What is Behavioral Economics?

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Explores the interplay of psychology and economics, offering insights into decision-making processes that deviate from traditional rational models

Challenges the traditional economic view of humans as entirely rational beings, which may appeal to learners seeking alternative perspectives

Examines cognitive biases and their impact on choices, which is highly relevant for understanding consumer behavior and market dynamics

Covers Nudge Theory, which is a popular framework used in policy and business to influence behavior in predictable ways

Includes a weekly newsletter that breaks down key economic concepts, providing ongoing learning and reinforcement of course material

Critiques rational economic thought and the assumptions of the neoclassical view, which may require learners to have some familiarity with these concepts

Reviews summary

Engaging introduction to behavioral economics

According to learners, this course offers a highly engaging and accessible introduction to the fascinating field of behavioral economics. Students particularly praise the instructor's clear explanations and ability to make complex ideas easy to understand. Many found the content on cognitive biases and nudge theory to be particularly insightful and applicable to real life. While some felt the course could cover certain topics in greater depth, the consensus is that it provides a solid foundation for beginners and sparks genuine interest in the subject.

Serves as a good starting point, not deep dive.

"This is definitely an introductory course. It provides a solid overview but don't expect deep dives into every topic."

"Good foundation setting course. For more advanced understanding, one would need to look for additional resources."

"Covers the main concepts well, but sometimes I wished for more detail or more complex examples."

"It's a great first step into the subject, giving you the vocabulary and basic frameworks."

Key behavioral economics topics included.

"The course covers all the essential topics mentioned in the syllabus, from biases to nudges."

"Topics like System 1/System 2 thinking and cognitive biases were particularly interesting and well-explained."

"I was happy to see coverage of critique of rational thought and neoclassical assumptions, providing good context."

"The course structure flows logically through the different key areas of behavioral economics."

Ideas are highly relevant to daily life.

"The insights on biases and decision-making are incredibly relevant to everyday life and work. I can see these principles everywhere now."

"I loved learning about nudge theory and choice architecture. It's fascinating how applicable these ideas are to personal choices and public policy."

"This course gave me a new lens through which to view the world and understand human behavior, both my own and others'."

"The examples provided throughout the lectures helped connect the theoretical concepts to real-world scenarios. Very useful."

Course content is presented clearly and simply.

"The content is well-structured and easy to follow, especially for someone like me who was new to behavioral economics."

"Excellent introductory course. The material is presented clearly with good examples that help solidify understanding."

"I appreciated how the course broke down complex ideas into simple, digestible modules. Very accessible for beginners."

"Everything was explained in simple terms without oversimplifying the core concepts. Great for getting started in the field."

Instructor makes complex topics easy to grasp.

"The instructor was engaging and made the complex topics easy to understand. His passion for economics was evident and contagious..."

"Brad is an amazing instructor. He simplifies concepts and explains them in a way that is understandable for anyone, even those new to economics."

"I really enjoyed this course! Brad's teaching style is fantastic, making the material very approachable and interesting."

"His lectures are clear, concise, and often humorous, keeping you hooked from start to finish. A great way to learn about behavioral economics."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Behavioral Economics: An Introductory Course with these activities:

Review Basic Economic Principles

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Ensure a solid foundation in basic economic principles before diving into behavioral economics.

Browse courses on Supply and Demand

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Review introductory economics textbooks or online resources.
Focus on concepts such as supply and demand, market equilibrium, and opportunity cost.
Complete practice questions to test your understanding.

Discuss Cognitive Biases with Peers

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Reinforce your understanding of cognitive biases by discussing them with other students.

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Organize a study group with other students from the course.
Choose a set of cognitive biases to discuss.
Share examples of how these biases affect your own decision-making.
Discuss strategies for mitigating the effects of these biases.

Thinking, Fast and Slow

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Deepen your understanding of cognitive biases and the dual system model.

View Noise: A Flaw in Human Judgment on Amazon

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Obtain a copy of 'Thinking, Fast and Slow'.
Read the book, focusing on sections related to cognitive biases and the dual system model.
Take notes on key concepts and examples.
Reflect on how these concepts apply to your own decision-making.

Four other activities

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Show all seven activities

Nudge: Improving Decisions About Health, Wealth, and Happiness

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Gain a practical understanding of nudge theory and choice architecture.

View Nudge: The Final Edition on Amazon

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Acquire a copy of 'Nudge: Improving Decisions About Health, Wealth, and Happiness'.
Read the book, paying close attention to examples of choice architecture.
Identify potential nudges in your own life or work.
Consider the ethical implications of using nudges.

Write a Blog Post on Nudge Theory

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Explain nudge theory in simple terms and provide real-world examples.

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Research nudge theory and its applications.
Write a blog post explaining the core concepts of nudge theory.
Include examples of how nudges are used in everyday life.
Share your blog post on social media or with friends.

Create a Presentation on a Cognitive Bias

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Solidify your understanding of cognitive biases by researching and presenting on a specific bias.

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Choose a cognitive bias from the course materials.
Research the bias using academic sources and real-world examples.
Create a presentation outlining the bias, its effects, and potential mitigation strategies.
Present your findings to a friend, family member, or colleague.

Design a Choice Architecture Intervention

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Apply your knowledge of choice architecture to design an intervention that promotes better decision-making in a specific context.

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Identify a context where people make suboptimal decisions.
Analyze the existing choice architecture in that context.
Design an intervention that leverages choice architecture principles to improve decisions.
Document your design and explain the rationale behind your choices.

Career center

Learners who complete Behavioral Economics: An Introductory Course will develop knowledge and skills that may be useful to these careers:

Behavioral Design Strategist

A Behavioral Design Strategist leverages principles of behavioral science to create products, services, and interventions that encourage positive behavior change. This role involves applying insights from psychology and economics to design solutions that address real-world problems. Taking this course may be useful for anyone who wants to work as a Behavioral Design Strategist, as it provides a deep dive into the assumptions of neoclassical economics. The course's coverage of cognitive biases, choice architecture, and nudge theory may be useful here.

See salaries and explore the career path for Behavioral Design Strategist

Behavioral Insights Consultant

A Behavioral Insights Consultant applies behavioral economics principles to help organizations improve their strategies and outcomes. They analyze how cognitive biases, social norms, and other psychological factors affect decision-making, and then design interventions, such as nudges or choice architectures, to guide behavior in a desired direction. Taking this course may be useful for anyone who wants to work as a Behavioral Insights Consultant because it covers cognitive biases, choice architecture, and nudge theory. Learning more about these topics will help one be successful in this role.

See salaries and explore the career path for Behavioral Insights Consultant

Behavioral Researcher

A Behavioral Researcher designs and conducts studies to understand human behavior in different contexts. Many Behavioral Researchers pursue an advanced degree such as a PhD. Behavioral Researchers analyze data and publish findings in academic journals. This course helps build a foundation in behavioral economics. The thorough understanding of the main principles of behavioral economics may be useful for anyone who wants to work as a Behavioral Researcher.

See salaries and explore the career path for Behavioral Researcher

Marketing Manager

A Marketing Manager develops and executes marketing campaigns to promote products or services. They use market research and consumer insights to understand target audiences and create effective messaging. This course helps build a foundation in understanding consumer psychology. The course's exploration of 'Cognitive Biases' and 'Choice Architecture' is particularly relevant, as it provides insights into how to craft marketing messages that resonate with consumers and influence their purchasing decisions.

See salaries and explore the career path for Marketing Manager

Policy Analyst

A Policy Analyst researches and analyzes existing policies and proposed legislation to assess their impact and effectiveness. This role often involves considering how people will respond to different policy options. Taking this course may be useful for a policy analyst, as they learn how to evaluate policies through the lens of behavioral economics. A Policy Analyst may find the 'Nudge Theory' lessons helpful in designing policies that encourage desired behaviors without being overly restrictive.

See salaries and explore the career path for Policy Analyst

Market Research Analyst

A Market Research Analyst studies consumer behavior and market trends to advise companies on product development, marketing strategies, and pricing. This role involves designing surveys, analyzing data, and interpreting results to understand what drives consumer choices. This course helps build a foundation in understanding why consumers don't always think rationally and how cognitive biases influence their decisions. The 'Choice Architecture' and 'Nudge Theory' modules in the course may be useful in designing effective market research strategies.

See salaries and explore the career path for Market Research Analyst

Financial Advisor

A Financial Advisor provides guidance to individuals and families on managing their finances, investments, and retirement planning. Financial advisors help clients make informed decisions. Taking this course helps build an understanding of how cognitive biases influence financial decisions, enabling you to provide more effective advice. The discussions on why consumers do not always think rationally may be useful for financial advisors to improve client outcomes and satisfaction.

See salaries and explore the career path for Financial Advisor

Human Resources Manager

A Human Resources Manager focuses on recruiting, training, and managing employees. They also work to create a positive work environment. The insights from this course into cognitive biases and how people think irrationally may be useful for human resources managers. This allows them to better design compensation and benefits packages that attract and retain top talent.

See salaries and explore the career path for Human Resources Manager

Product Manager

A Product Manager guides the strategy, roadmap, and feature definition for a product or product line. They work closely with engineering, design, and marketing teams to bring products to market. Taking this course may be useful for a product manager, as it provides an understanding of the Dual System Model. The Product Manager may find this helpful in predicting and influencing user behavior when using a product.

See salaries and explore the career path for Product Manager

User Experience Researcher

User Experience Researcher is concerned with understanding user behavior, needs, and motivations through various research methods. A user experience researcher uses findings to improve the design and usability of products and services. The understanding of cognitive biases gained from this course helps you to recognize how these biases impact user interactions with digital interfaces. Also, the course's discussions of 'Choice Architecture' may be useful in crafting user interfaces that guide users toward desired actions.

See salaries and explore the career path for User Experience Researcher

Negotiator

A Negotiator is an expert at facilitating agreements between different parties. This can be in a variety of contexts, from business deals to international relations. This course helps build a foundation in behavioral economics. The course's lessons on cognitive biases and the critique of consumers' rational thinking may be useful in anticipating and addressing the biases of the other party. This allows them to craft more persuasive arguments.

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Social Media Manager

A Social Media Manager is responsible for developing and implementing a company's social media strategy. This involves creating engaging content, managing online communities, and tracking social media metrics. Understanding the principles of behavioral economics may be useful for anyone who wants to work as a social media manager. The Social Media Manager may find the 'Nudge Theory' lessons helpful in encouraging users to take desired actions.

See salaries and explore the career path for Social Media Manager

Communications Specialist

A Communications Specialist is responsible for developing and executing communication strategies for an organization. This involves crafting messages, managing media relations, and overseeing internal communications. The understanding of cognitive biases gained from this course may be useful for Communications Specialists. This course may provide insights into how to frame messages in a way that resonates with the target audience.

See salaries and explore the career path for Communications Specialist

Fundraiser

A Fundraiser works for nonprofit organizations to raise money for their cause. This involves crafting compelling appeals, building relationships with donors, and organizing fundraising events. This course helps build a foundation in understanding what motivates giving. The course's insights into how people make decisions may be useful in crafting fundraising appeals that resonate with potential donors.

See salaries and explore the career path for Fundraiser

Human Resources Specialist

A Human Resources Specialist focuses on recruiting, training, and managing employees. They also work to create a positive work environment. The insights from this course into the Dual System Model of thinking may be useful for HR specialists. This allows them to better understand employee motivations and decision-making processes.

See salaries and explore the career path for Human Resources Specialist

Behavioral Economics

An Introductory Course

What's inside

Learning objectives

Syllabus

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Reviews summary

Engaging introduction to behavioral economics

Activities

Career center

Reading list

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