Political Economy of Human Behaviour and Economic Development



Overview

Neoclassical economics has held predominance in academia for over 100 years. However, recent research has begun to challenge the foundations of neoclassical economics. This is specifically with regards to the assumption of rationality which is made by neoclassical economists. While different types of human activities are undertaken, decisions and choices have to be made. It is far from evident that these decisions and choices are made rationally.

The purpose of this course is to shed light on current developments in Behavioural Economics and how these developments reflect on our understanding of the real world.

Programme details

Courses starts: 22 Apr 2025

Week 1: Scarcity Session

Week 2: Scarcity and Attention

Week 3: Choice Under Scarcity

Week 4: Decision Making Under Fairness

Week 5: Borrowing Session

Week 6: The Scarcity Trap

Week 7: The Nature of Poverty

Week 8: The Road to Prosperity

Week 9: Organisational Scarcity

Week 10: Life and Scarcity

Certification

To complete the course and receive a certificate, you will be required to attend and participate in at least 80% of the live sessions on the course and pass your final assignment. Upon successful completion, you will receive a link to download a University of Oxford digital certificate. Information on how to access this digital certificate will be emailed to you after the end of the course. The certificate will show your name, the course title and the dates of the course you attended. You will be able to download your certificate or share it on social media if you choose to do so.

Fees

Description Costs
Course Fee £285.00
Take this course for CATS points £30.00

Funding

If you are in receipt of a UK state benefit, you are a full-time student in the UK or a student on a low income, you may be eligible for a reduction of 50% of tuition fees. Please see the below link for full details:

Concessionary fees for short courses

Tutor

Dr Sangaralingam Ramesh

Sangaralingam Ramesh is an Economics Tutor in the Department for Continuing Education at the University of Oxford and a Senior Teaching Fellow in Economics at University College London, UK. He has been an Associate Professor in Economics at the Université Paris Dauphine GBD and Economics Module Leader at Kings College London

Course aims

To bring students up to date with current developments in Behavioural Economics.

Course objectives: 

This course will enable students to:

  • distinguish between Neo-Classical Economics and Behavioural Economics;
  • understand current research trends in Economics;
  • gain enough knowledge to continue further private study.

Teaching methods

The weekly sessions will be an interactive-lecture discussion. Students will be able to ask questions and to comment on the material being taught based on their own personal experiences. 

Learning outcomes

By the end of the course students will be expected to understand:

  • the implications of non-rationality for Economics;
  • the relevance of scarcity to choice;
  • recent shifts in economics thinking.

And students will be expected to have gained and/or developed the following skills:

  • Critically evaluate economic theory.
  • Relate the relevance of recent developments in Economics to the real world.
  • Understand topical television programmes and newspaper and magazine articles.
  • Undertake further independent research. 

Assessment methods

1. Assignment 1- a 750 word reflective essay on the first 4 weeks of classes to be submitted at the end of week 5.

2. Assignment 2: A 1500 word essay to be submitted 2 weeks after the end of the course - 14th July 2023 - on a given question.

Coursework is an integral part of all weekly classes and everyone enroled will be expected to do coursework in order to benefit fully from the course. Only those who have registered for credit will be awarded CATS points for completing work the required standard.

Students must submit a completed Declaration of Authorship form at the end of term when submitting your final piece of work. CATS points cannot be awarded without the aforementioned form - Declaration of Authorship form

Application

To earn credit (CATS points) for your course you will need to register and pay an additional £30 fee per course. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online.

Please use the 'Book' or 'Apply' button on this page. Alternatively, please complete an enrolment form (Word) or enrolment form (Pdf).

Level and demands

The Department's Weekly Classes are taught at FHEQ Level 4, i.e. first year undergraduate level, and you will be expected to engage in a significant amount of private study in preparation for the classes. This may take the form, for instance, of reading and analysing set texts, responding to questions or tasks, or preparing work to present in class.

Credit Accumulation and Transfer Scheme (CATS)

To earn credit (CATS points) you will need to register and pay an additional £30 fee per course. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online. Students who register for CATS points will receive a Record of CATS points on successful completion of their course assessment.

Students who do not register for CATS points during the enrolment process can either register for CATS points prior to the start of their course or retrospectively from the January 1st after the current full academic year has been completed. If you are enrolled on the Certificate of Higher Education you need to indicate this on the enrolment form but there is no additional registration fee.

Terms & conditions for applicants and students

Information on financial support