Self-handicapping is a cognitive strategy where people avoid effort in the hopes of keeping potential failure from hurting self-esteem. So if you decided not to study for an exam it could be because you were worried you would fail, which would make you feel bad about yourself.

Effects of social, psychological, cognitive, emotional and cultural factors like this on economic decisions of individuals and institutions is known as the study of Behavioural Economics.

The study of Behavioural Economics is growing, and more and more businesses require an Economist. After having studied Behavioural Economics, graduates have moved on to working for Think Tanks, BFSIs, Non-Profits and Government Institutions, in companies like IDFC Institute, Gateway House and Fractal Analytics.

Meghnad Desai Academy of Economics offers a one-year Post Graduate Diploma in Economics, which offers the Behavioural and Experimental Economics: A Public Policy Perspective module.

In this module, you will learn:

  • How to critically assess existing theories in economics using experimental data and understand behavioural basis for the same
  • How to explore theories in behavioural economics and assess their applicability
  • How to use behavioural insights to inform individual, household and social decision-making
  • How to review complex public policy problems through the lens of principles of behavioural economics
  • How to analyse data from experiments to evaluate and fine tune policies that could not be easily tested with naturally-occurring data
  • Introduce the cutting-edge research in behavioural economics and its implications for public policy

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