Course Title: Behavioural Business

Part A: Course Overview

Course Title: Behavioural Business

Credit Points: 12.00

Course Coordinator: Professor Robert Hoffmann

Course Coordinator Phone: +61 3 9925 5447

Course Coordinator Email:

Course Coordinator Location: Building 80, Level 11

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

Traditional economic theory depicts managerial choice as rational deliberation that computes optimal decisions based on well-defined objectives and plentiful information. However, in practice, cognitive and information deficiencies as well as certain features of the human psychology often lead to business decision making that deviates significantly from this view. Recently, economists have developed a better understanding of individual decision making by drawing on particular methods of other social sciences including psychology, sociology and anthropology. This course explores behavioural economics, the new economic discipline that resulted from this exercise. New methods of economic enquiry which behavioural economists use and the insights these have generated will be analysed. The aim of the course is to synthesise, assess and evaluate information related to theoretical concepts and insights that behavioural economics has generated and apply these to real world economic, business and policy issues.

Objectives/Learning Outcomes/Capability Development


On successful completion of this course, you should be able to:

CLO1: Assess appropriate behavioural economics theories to apply in the social, economic, business and public policy environments;

CLO2: Apply behavioural economic analytical techniques to systematically and rigorously analyse social, economic, business and public policy issues;

CLO3: Critically analyse social, economic, business and public policy issues within the frameworks of behavioural economic models to explain and predict the outcomes of changes in a variety of predictor variables;

CLO4: Identify and assess, in a behavioural economics framework, the socio-economic issues confronted by individual decision makers and by society as a whole to guide decision making; and

CLO5: Design mechanisms, strategies and public policies to achieve desired objectives.

CLO6: Develop an appreciation of different cultures and the international operation of organizations.

Overview of Learning Activities

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and/or group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.

The course will be delivered as a global intensive workshop in Barcelona with accompanying company, NGO and government department visits to illustrate the academic course content in a practical organizational context.

Overview of Learning Resources

Various learning resources are available online through RMIT's learning management system, Canvas. In addition to topic notes; assessment details and a study schedule you may also be provided with links to relevant online information; readings; audio and video clips and communication tools to facilitate collaboration with your peers and to share information.

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT library website.

Additional resources and/or sources to assist your learning will be identified by your course coordinator will be made available to you as required during the teaching period.

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 25%
Linked CLOs: 1, 2, 3, 4, 5, 6

Assessment Task 2: 25%
Linked CLOs: 1, 2, 3, 4, 5

Final Examination: 50%
Linked CLOs: 1, 2, 3, 4, 5