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Social Studies

Behavioral Economics: Influences on Your Financial Decisions (Flex)

In this 7-week flex course, students will use Nearpod to learn through interactive activities to learn about how cognitive and confirmation biases, sunk costs, FOMO, hedonic adaptation, and social media influence your financial decisions.
Brooke Martinez
34 total reviews for this teacher
Completed by 3 learners
Class
No live meetings
Over 7 weeks
14-18
year olds
1-12
learners per class
per learner - per week

How does aFlexible Schedulecourse work?

No scheduled live video chats
Discussions via classroom forum and private messages with the teacher
Great if your learner prefers independent pacing or is uncomfortable with live video chat

Available Times

Pacific Time

Mon Sep 5

Sep 5 - Oct 23 (7 weeks)
Flexible Time
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Mon Oct 3

Oct 3 - Nov 20 (7 weeks)
Flexible Time
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Mon Nov 7

Nov 7 - Dec 25 (7 weeks)
Flexible Time
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Mon Dec 5

Dec 5, 2022 - Jan 22, 2023 (7 weeks)
Flexible Time
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Don't see a time that works for you?

Description

Class Experience

Students will be able to:
Week 1: Are You Really in Control of Your Decisions?
Experience cognitive biases through thought experiments
Identify various cognitive biases
Give examples of cognitive biases in your own life
Explain what cognitive bias is and how it can impact our decision making
Week 2: Sore Loser
Discuss the cognitive bias of loss aversion and how we feel the effect of losses more than gains
Make decisions that involve risk and the possibility of loss
Analyze loss aversion from the perspective of consumers and investors
Choose strategies that will help overcome loss aversion
Week 3: Let it Go!
Identify how the endowment effect and sunk costs affect our decision making
Discuss how the endowment effect and sunk costs are connected to our personal finances
Demonstrate making decisions after you’ve already spent time, money, or effort
Choose strategies that are helpful in combating the endowment effect and sunk costs
Week 4: Everyone Else is Doing It
Understand what herd mentality and FOMO are
Explain how these two cognitive biases impact our personal finances 
Identify practical steps someone can take to combat the influence of herd mentality and FOMO
Week 5: Arrogance and Echo Chambers
Understand what confirmation bias is and how it can influence your decision making
Identify types of overconfidence and give examples that show up in everyday life
Explore strategies to avoid confirmation bias and overconfidence
Week 6: Enough is Enough
Understand what hedonic adaptation is and how it influences our financial decisions
Explain the connection between our happiness levels and how much we earn and spend 
Identify steps someone can take to counteract the impact of hedonic adaptation 
Week 7: I Saw it on Social Media
Reflect on the various cognitive biases you have learned about in this unit
Identify the variety of ways social media marketers use cognitive biases to influence consumer behavior 
Work with your peers to create a social media marketing strategy for a specific product 
I am from the United States and have been teaching various business, marketing, and finance courses for 13 years. I have taught both at the high school and collegiate level. I teach both in person and online but online is my favorite! I have a Bachelor's degree in Marketing and Business Information Technology Education, a Masters in Business Administration and a PhD in Online Education. 
I am very excited to work with all of you through Outschool!
No live meetings, and maybe some time outside of class.

Teacher

Brooke Martinez
🇺🇸
Lives in the United States
Martinez Money Message
34 total reviews
133 completed classes

About Me

Hi! I'm Dr. Brooke. I'm from Utah (United States). I teach business classes both face to face and online. I've been teaching Financial Literacy, Marketing, and Business Classes for 13 years. I have a Bachelors degree in Marketing and Business... 
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