| Venue/Deadlines | Program Dates | Program Fees |
|---|---|---|
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Venue : IIMB Campus
Early Bird Discount Date : 24 Oct, 2024
Last date for registration: 04 Nov, 2024
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Start Date : 14 Nov, 2024 End Date : 16 Nov, 2024 |
Residential Fee(excluding GST) : Rs. 1,05,000
Residential Early Bird Fee(excluding GST) : Rs. 94,500 Non-Residential Fee(excluding GST) : Rs. 90,000 Non-residential Early Bird Fee(excluding GST) : Rs. 81,000 |
Ms. Vinitha Vandana
Landline No.:+91-80-26993475
Mobile No. +91-8951974078
Email: vinitha.vandana@iimb.ac.in
Programme Overview
The program 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.
The students 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.
Programme Objective
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.
Programme Content
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.
Consider the following: ask the person on your left the answer to the following: 1 x 2 x 3 x 4 x 5 x 6 x 6 x 7 x 8 x 9 = ? To the one on your right: 9 x 8 x 7 x 6 x 5 x4 x 3 x 2 x 1=? Chances are that the one on your right will quote a higher number. The reason is they are Humans, and not cold, calculating, rational machines or Econs. This course is about understanding human behavior through the lense 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, students will get a broad overview of important results from behavioral economics and psychology of economic decision making, and heuristics and biases that influence our decision making. Second, the students will see applications corresponding to these results in a wide range of business contexts. Third, the course will introduce the students 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. Will you go to a doctor, who claims she prescribes medicines on the basis of ‘intuition’? Will you let yourself be cut by a surgeon who ‘feels’ there is something wrong with your kidney? To us the answer, quite unequivocally, is no. An informed choice can be made by rigorous empirical evidences using randomized experimental data.
Key Benefits/Takeaways
Understand people’s behavior better
Incorporate behavioral biases in the decision-making process of HR
Incorporate behavioral insights into decision-making process of
Understand how to conduct randomized experiments
Pedagogy
Live Classroom Experiments
Classroom Lectures
Textbooks: Thinking Fast and Slow, Daniel Kahneman and Misbehaving, Richard Thaler
Participant profile
This is a cross-functional course aimed at:
Early and Mid -career executives in Corporate Entities, NGOs, 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
Ritwik Banerjee is an Associate Professor of the Economics area, with a secondary affiliation to Center for Public Policy, at Indian Institute of Management Bangalore. His research is on Behavioral Development Economics and he extensively uses Experimental Methods for his research. His research has been published in leading peer-reviewed journals. He was an Academic Visitor at the Research Department of Federal Reserve, Chicago during the summer of 2012, a Visiting Scholar at the Economics Department, Harvard University in Spring 2015, Visiting Scholar at UNU WIDER, Helsinki in Spring 2019, Fulbright-Nehru Academic and Professional Excellence Fellow, University of Berkeley in Fall 2019, and a Humboldt Fellow at University of Goettingen, Germany. He has also served as a Consultant at the World Bank in Washington DC and as a Research Associate at ICRIER, New Delhi. For more information of his research, please visit www.ritwikbanerjee.in
Participant Benefits
As a participant of this Short Duration Programme, you will be able to enjoy some exclusive benefits other than the outcomes such as skills and knowledge enhancement and building specific competencies that can help shape your career growth.
Some of the exclusive benefits of attending this programme are listed below –
Programme Fee
INR 1,05,000/- Residential and INR 90,000/- Non -Residential (+ Applicable GST) per person for participants from India and its equivalent in US Dollars for participants from other countries.
Early Bird Discount
Nominations received with payments on or before 24 Oct, 2024 will be entitled to an early bird Discount of 10%.
Early Bird Fee (Residential) INR 94,500/-(+ Applicable GST)
Early Bird Fee (Non-Residential) INR 81,000/-(+ Applicable GST)
Group Discount
Group Discount of 5% percentage can be availed for a group of 3 or more participants when nominations received from the same organization.
Please Note
Note: Certificate image is for reference to potential participants only and may change at the discretion of Executive Education Programmes Office
Top-notch faculty, contemporary content, a great learning environment, and application orientation make the IIMB Exec Ed programmes world-class.