Module Code: COM5001

Module Title: Behavioural Economics

Formative Assessment (200 to 400 words)

Two questions:

1. Re-describe the market or segment you are going to investigate (narrow down – gyms in Richmond is better than gyms in the World)
2. Explain what Nudges, Biases or Heuristics, or parts of MINDSPACE you might use for your market or segment

List for four or five and describe each in a few sentences

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Substantive Assessment

Outline your idea for a new business venture in a particular market or segment. Research it using databases and literature. Use behavioural economics to outline the business opportunities and challenges for the venture you will lead – as well as for a rival market leader.

Substantive Assessment has TWO required parts:

Part 1: Journal – 1,500 words (worth 40%)

Part 2: Research Project – 2,500 words (worth 60%)

Substantive Assessment PART 1 – Journal

ANSWER BOTH Questions:

A. Discuss how you plan to change your approach to a personal thing you would like to achieve or business/career decision you will make, given what you have learned in this course. (750 words)

B. Choose an Industry or Market Segment for your Research Project (See Part 2 below). Describe that Industry or Market Segment and explain how a market leader in your chosen industry/segment uses neoclassical and behavioural techniques to market its product(s) or service(s). (750 words)

TOTAL: 1,500 words – 40% weighting

Substantive Assessment PART 2

Research Project:

Outline your idea for a new business venture in a particular market, or segment. Research it using databases and literature. Use behavioural economics to outline the business opportunities and challenges for the venture you will lead – as well as for a rival market leader.

2,500 – 60% weighting

 

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