5. Behavioural economics

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5. Behavioural economics

Viewing guide

Understanding economics helps individuals to make informed judgements about issues and policies and participate responsibly in decision-making.

Reflect on a recent purchase that you made. What were the psychological factors that led you to make the final transaction?

Listen to and take notes on:

  • Gittins’ viewpoint that behavioural economics is a combination of economics and psychology

  • the example he gives to explain this.

  • What has psychology got to do with economics?

  • Why do you think people make economic choices that don’t give them a material gain?

    Videos

    5. Behavioural economics

    5. Behavioural economics

    6. Writing for economics

    6. Writing for economics

    7. Economics conclusions

    7. Economics conclusions

    8. Economic inspiration

    8. Economic inspiration