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XX50221: Psychological and economic perspectives into decision-making

Follow this link for further information on academic years Academic Year: 2019/0
Further information on owning departmentsOwning Department/School: Department of Psychology
Further information on credits Credits: 18      [equivalent to 36 CATS credits]
Further information on notional study hours Notional Study Hours: 360
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period:
Semester 1
Further information on unit assessment Assessment Summary: CW 67%, ES 33%
Further information on unit assessment Assessment Detail:
  • Essay (ES 33%)
  • Project Proposal (CW 67%)
Further information on supplementary assessment Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites:
Further information on descriptions Description: Aims:

* To provide an interdisciplinary perspective into how the disciplines of Psychology and Economics interact to elucidate the psychological and economic factors that underlie human economic choice behaviour.
* To present theoretical models, developed through interdisciplinary research at the intersection between the disciplines of Psychology and Economics, that predict human economic choice behaviour.
* To critically evaluate models of human economic choice behaviour from the broader societal context.

Learning Outcomes:
On completion of the units students will:
* Identify the key areas where theoretical models of judgement and decision-making either have been or potentially can be applied to real-world problems.
* approach new problems and show how insights from psychological and economic science can be brought to bear on them
* critically evaluate the empirical success of real-world applications of the relevant theoretical models
* understand how agent-based simulations can provide insight into the emergent behaviour of groups in social and economic contexts.

* To think creatively and analytically.
* To learn independently and to be able to assess own learning needs.
* To critically evaluate and assess research and evidence as well as a variety of other information.
* To gather information, data, research and literature from a number of different sources.
* To synthesise information from a number of sources in order to gain a coherent understanding.
* To utilise problem solving skills.
* To effectively and efficiently apply principles of human decision-making in a professional and business context.
* To have a sound knowledge of the principles and practice of psychology and economics in a professional and business context.
* To have a sound knowledge of methods and strategies of effective human decision-making.

This unit will introduce an interdisciplinary perspective elucidating human economic decision-making in a broad range of contexts. Research from both Psychology and Economics will be drawn upon to deliver this perspective. The impact of the synthesis of both perspectives and how this synthesis can be used to create predictive models of human choice behaviour will be covered.
Further information on programme availabilityProgramme availability:

XX50221 is a Designated Essential Unit on the following programmes:

Department of Psychology
  • THXX-AFM77 : MSc Applied Psychology and Economic Behaviour