How Your Brain Tricks You into Making Bad Financial Decisions

Podcast Transcript

HOST: Welcome to our podcast, where we explore the exciting world of behavioral economics and its applications in finance. I'm your host, and I'm thrilled to have Dr. Rachel Kim, a renowned expert in behavioral economics, joining me today to talk about our Undergraduate Certificate in Behavioral Economics for Financial Modeling. Dr. Kim, thanks for being here! GUEST: Thank you for having me! I'm excited to share the benefits and opportunities that this course has to offer. HOST: So, let's start with the basics. What is behavioral economics, and how does it relate to financial modeling? GUEST: Behavioral economics is the study of how psychological, social, and emotional factors influence economic decisions. By applying these insights to financial modeling, we can create more accurate and realistic models that take into account human biases and behaviors. HOST: That's fascinating. How does our Undergraduate Certificate in Behavioral Economics for Financial Modeling equip students with the skills to analyze and predict human behavior in financial markets? GUEST: Our program provides a comprehensive education in the principles of behavioral economics, as well as hands-on training in financial modeling and data analysis. Students learn how to identify biases, design experiments, and develop targeted financial products that account for human behavior. HOST: That sounds incredibly valuable. What kind of career opportunities can students expect after completing the certificate? GUEST: The job prospects are vast and exciting! Our graduates can work in investment banks, asset management firms, financial regulatory agencies, and even start their own companies. The skills they acquire are highly sought after in the industry, and they'll have a competitive edge in the job market. HOST: That's great to hear. Can you give us some examples of practical applications of behavioral economics in finance? GUEST: Absolutely. For instance, our students learn how to design nudges that encourage people to save more for retirement or make better investment decisions. They also learn how to analyze market trends and identify potential biases that can affect investment outcomes. HOST: Wow, that's really interesting. What sets our program apart from others in the field? GUEST: Our program is unique in that it combines theoretical foundations with practical applications. Our students work on real-world case studies and projects, and they have access to renowned experts in the field. Plus, they can complete the certificate in just 12 months, which is a huge advantage in today's fast-paced job market. HOST: That's fantastic. Finally, what advice would you give to students who are interested in pursuing a career in behavioral economics for financial modeling? GUEST: I would say that this is a field that requires passion, creativity, and a willingness to challenge conventional thinking. If you're interested in understanding human behavior and its impact on financial markets, then this is the perfect career path for you. And our Undergraduate Certificate in Behavioral Economics for Financial Modeling is the perfect place to start. HOST: Thanks, Dr. Kim, for sharing your insights and expertise with us today. If