Be­ha­vi­our­al Fin­ance

Course content

The teaching consists of 40 lessons, in lessons of either 4 or 2 hours. 

The course has a hands-on learning aproach with a range of case studies and real-life examples. Additionally, the course has a research-based teaching approach based on current academic literature.

The aim of the course is to give students a broad understanding of how human psychology influences financial decisions, with special reference to the impact on financial markets, corporate finance and personal financial decisions. 

The course is designed for students from a wide range of professional backgrounds—not just those in finance or financial advisory roles. Whether you work in business, government, consulting, or non-profits, the course will help you better understand the financial behavior of clients, colleagues, customers, and yourself.

There are two sides to the course. The “soft” side deals with the decision-making process. The “hard” side concerns modern empirical finance. The teaching on both sides focuses more on intuition and understanding rather than technical skills. The teaching is research-based, drawing on the results of current academic literature that links to the material in the textbook.

In addition to established theories, the course explores cutting-edge insights from psychology and neuroscience on the role of emotions in decision-making and the evolutionary origins of the way we make choices. By understanding how deeply-rooted mechanisms—such as fear, pride, and social instincts—shape our financial choices, students gain a powerful framework for recognizing and mitigating bias. This frontier knowledge gives participants a unique edge: not only in interpreting real-world behavior, but also in becoming more reflective and effective decision-makers themselves.

Students participating in the course are expected to have a basic understanding of statistics and be able to make usual financial calculations such as present value calculations and expected values. Similarly, a general knowledge of financial markets, financial institutions and financial instruments such as options is assumed.