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XX50221: Psychological and economic perspectives into decision-making

[Page last updated: 02 August 2022]

Academic Year: 2022/23
Owning Department/School: Department of Psychology
Credits: 18 [equivalent to 36 CATS credits]
Notional Study Hours: 360
Level: Masters UG & PG (FHEQ level 7)
Semester 1
Assessment Summary: CW 67%, ES 33%
Assessment Detail:
  • Essay (ES 33%)
  • Project Proposal (CW 67%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
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 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.

Skills: Intellectual
* 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.

Content: 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.

Programme availability:

XX50221 is a Designated Essential Unit on the following programmes:

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


  • This unit catalogue is applicable for the 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
  • Programmes and units are subject to change in accordance with normal University procedures.
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