MG455 Half Unit
Decisions, Biases and Nudges
This information is for the 2024/25 session.
Teacher responsible
Dr Barbara Fasolo MAR 5.27
Availability
This course is available on the CEMS Exchange, Global MSc in Management, Global MSc in Management (CEMS MIM), Global MSc in Management (MBA Exchange), MSc in Finance and Risk, MSc in Human Resources and Organisations (Human Resource Management/CIPD), MSc in Human Resources and Organisations (International Employment Relations/CIPD), MSc in Human Resources and Organisations (Organisational Behaviour), MSc in Marketing, MSc in Operations Research & Analytics, MSc in Social Innovation and Entrepreneurship and Master of Public Policy. This course is available as an outside option to students on other programmes where regulations permit.
This course may be capped/subject to controlled access. For further information about the course's availability, please see the MG Elective Course Selection Moodle page (https://moodle.lse.ac.uk/course/view.php?id=3840).
Note for Exchange students: You can take this course if your programme deadlines do not conflict with the beginning of the summer term deadline for MG455 summative coursework.
Note for Auditors: Due to the experiential nature of the course and groupwork required, this course is not suitable for auditing
Pre-requisites
It is an advantage to have had an introductory social science course in one of these fields: economics, management, psychology or sociology.
It is important to be comfortable with multi-disciplinary research, in-class activities and group work.
Course content
This course introduces students to Behavioural Decision Science: the science that explains and predicts how humans make decisions (the decision ‘process’) and how well (the decision ‘outcome’). The course will focus on the process, and unveil the subtle and sometimes unconscious influences played by our mind (biases) and the context in which decisions are faced: What has been chosen in the past? Is there positive or negative affect - perhaps because of risk and uncertainty? All of these (and more) are factors that often determine how information is searched before choosing, how decisions are made, and the quality of the decision made.
In the theoretical part of the course, you will be guided to the scientific language of decisions, judgments and biases, and learn how to elaborate on behavioural science articles. In the applied part of the course, you will work as a group and apply the steps of our proprietary tool ‘Decision Canvas&r