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    Understanding People through the lens of Behavioral Economics
    Indian Institute Of Management Bangalore

    Understanding People through the lens of Behavioral Economics

    Indian Institute Of Management Bangalore, Bangalore
    HomeData & AIIndian Institute Of Management BangaloreUnderstanding People through the lens of Behavioral Economics
    2 daysDuration
    in-personFormat
    EnglishLanguage
    Data & AITopic

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    About This Program

    The programme will offer insights from Behavioral Economics into decision-making for HR, Sales and Marketing and Personal Finance Professionals, through a series of lectures and in-class live experiments. Participants will be introduced to the seminal works of top behavioral economists in the world, including those of two Nobel Laureates - Daniel Kahneman and Richard Thaler. The purpose of this course is to inform future managers, analysts and consultants of the deeper psychological processes which underlie decision-making when it comes to people, product choices and policy making. The course will enable the students to incorporate the insights into marketing, human resource practices, finance and business strategies. How a woman (or a man) fares in life depends to a large extent on a series of decisions that she takes. However, the process of how we arrive at decisions is often very complex. This course is about understanding human behavior through the lens of behavioral economics - heuristics and biases, and reference points that influence our everyday behavior. Each topic covered in this course will have three facets. First, participants will get a broad overview of important results from behavioral economics, psychology of economic decision-making, and heuristics and biases that influence our decision-making. Second, the participants will see applications corresponding to these results in a wide range of business contexts. Third, the course will introduce the participants the idea of experimentation - the methodological tool in which one thing is changed at a time which in turn makes causal inference possible. Policies and strategies are often adopted based on intuition or feeling, which may not be a smart thing to do. An informed choice can be made by rigorous empirical evidences using randomized experimental data.

    Why Indian Institute Of Management Bangalore?

    IIM Bangalore occupies a position in Indian management education that no other institution quite replicates โ€” a school shaped by a post-Independence nation-building mandate that has since grown into one of Asia's most respected research and leadership institutions. Its executive education programs draw participants from across India's most consequential industries, from Bengaluru's technology corridor to Mumbai's financial sector, and bring them into contact with faculty who are as likely to be publishing in top-tier academic journals as advising a government ministry.

    Your Profile

    • Early and mid-career executives in corporate entities, NGOs, and government.
    • HR professionals.
    • Personal finance executives (insurance agents, mutual fund dealers, personal loan executives, etc.).
    • Sales and marketing professionals who wish to understand consumers better.

    Benefits

    • Understand people's behavior better.
    • Incorporate behavioral biases in the decision-making process of HR.
    • Understand how to conduct randomized experiments.

    What You'll Learn

    • Overview of behavioral economics: heuristics, biases, and reference points that influence everyday decision-making.
    • Applications in business: marketing, human resource practices, finance, and policy-making contexts.
    • Psychology of economic decision-making: how humans differ from rational 'Econs' in real choices.
    • Experimentation methodology: randomized experiments and causal inference for testing business strategies.
    • Pedagogy methods: live classroom experiments, lectures, and readings including Thinking Fast and Slow (Kahneman) and Misbehaving (Thaler).

    Frequently Asked Questions

    How to Apply

    1. 1

      Check your eligibility

      Review the entry requirements listed on this page. Most executive programs require 8โ€“15 years of professional experience.

    2. 2

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    3. 3

      Contact the school

      Send a message directly to Indian Institute Of Management Bangalore via Gradia to request a brochure or speak with an admissions advisor.

    4. 4

      Prepare your application

      Gather your CV, reference letters, and any required test scores. Many EMBA programs waive standardised tests for senior candidates.

    5. 5

      Submit your application

      Apply directly through Indian Institute Of Management Bangalore's official application portal.

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