Crisis and Decision-Making

Course Purpose and Goals

The course presents the latest developments in the field of judgment and decision-making based on economics, behavioral sciences, and psychology. It aims to map the thinking processes that lead to decision-making. It examines systematic errors (biases), risk aversion, avoidance of financial losses, and how heuristics can sometimes lead to better decisions than complex analytical models.

Learning Outcomes

Upon completing the course, students will be able to:

• Understand different types of heuristics that guide everyday decisions
• Recognize systematic cognitive errors stemming from heuristics
• Understand Prospect Theory and Mental Accounting
• Understand ecological rationality and how heuristic tools can improve decisions
• Apply behavioral interventions to modify behaviors

An applied sciences research-orientated university, promoting research excellence and innovation for the benefit of science and society. Recently developed strategic plan gives emphasis on campus life, student experience and sustainable development within the 17 UNSDG’s framework.

CUT is young, public university, established in 2004, first outside the capital city, attracted high-caliber researchers and students.