Course DescriptionIn this course we will introduce key concepts from behavioral economics and apply them to strategic decision-making within wealth management. Students will review the most prevalent psychological barriers to optimal decision-making across the full breadth of the financial planning process, which includes investment selection, income strategies, estate planning, avoiding taxes, perceiving risk, and budgeting. Once identified, students will learn how to solve these common barriers to decision-making. Finally, students will apply concepts learned beyond the financial realm and extend them into daily living: family matters, health choices, career decisions, intellectual pursuits, and more.
- Develop strategies to overcome psychological biases, heuristics, and known decision-making tendencies within behavioral economics.
- Be able to explain how behavioral economics applies to financial planning and wealth management.
- Extrapolate ideas to broader non-financial decisions such as health care, public policy, career choices, intellectual pursuits, and more.
- Analyze common psychological factors that prevent everyday investors from building wealth.
- Identify core principles from behavioral economics, connect them to critical financial decisions, and learn how to solve them.
- Understand the breadth of the wealth management domain.
PrerequisitesSIP 499.1-499.2, 499.4
To enroll in Strategic Investments elective courses, students must have completed ECON X499.1, ECON X499.2, and ECON X499.4 with a grade C or better.
If you have substituted ECON X499.1 with a ECON 134A please email your unofficial transcript to firstname.lastname@example.org for assistance.
Concurrent Enrollment Permissible: If you have already enrolled in ECON X499.1 / ECON X499.2 / ECON X499.4 and wish to register before the courses have completed, please contact PaCE Support at 805-893-4200 to bypass the prerequisite.
Applies Towards the Following Certificates
- Strategic Investments : Elective Courses