Behavioural Economics and Critical Marketing
Why does a customer choose one offer and ignore another? Behavioural economics and critical marketing help explain consumer behaviour and purchasing decisions by examining how heuristics, emotions, social influence and the way choices are presented shape decisions — and when influence becomes ethically questionable. The course gives marketing professionals a broader framework for making more informed and responsible marketing decisions.
Behavioural Economics and Critical Marketing is in preparation
If interested, add your email to the waiting list and we'll send you a notification when the course details are ready and registration is possible.
A broader decision framework for marketing professionals
The course encourages participants to look beyond the conventional marketing question of “what works?”. Participants examine why people do not always behave rationally, how context, heuristics, emotions and social influence shape their choices, and what consequences different influence techniques may create. Behavioural economics provides a framework for understanding real decision-making, while critical marketing helps evaluate the assumptions, interests and potential effects behind marketing practices. This perspective supports more informed and responsible decisions in marketing and management.
Who is Behavioural Economics and Critical Marketing intended for?
The course is designed for experienced marketing professionals, as well as managers responsible for brands, products, customer experience, pricing and other areas where marketing and customer decisions are shaped. It is best suited to participants who already have practical marketing experience and a foundation in marketing, and who want to deepen their understanding of consumer decision-making, the psychology of influence and the wider impact of marketing.
The course is taught together with EBS master’s students, offering participants the opportunity to learn in a graduate-level academic environment alongside degree students.
Explore the course
The expected course period is from the end of January until May 2027. The lecture schedule is currently being finalised and will be confirmed in December 2026.
The course follows a topic-based structure and uses journal articles and real-world studies rather than a textbook. Learning methods include interactive lectures, readings, videos and teamwork. Mandatory pre-course reading will be made available before course start.
Topics Covered
Why does it matter?
Behavioural economics combines economics and psychology to explain how people actually make decisions and why their behaviour may differ from the rational-agent model. The course material links this perspective directly to understanding real consumer behaviour and the biases that influence decisions.
What happens in the session?
The session examines the distinction between homo economicus and homo psychologicus and why people deviate from rational behaviour. It explores the development of behavioural economics, explanations of real economic behaviour and the role of psychological factors in decision-making. The materials place this development within a broader shift from rational consumer models towards intuitive decision-making and applied consumer psychology.
Why does it matter?
The course materials demonstrate that people's choices are influenced by how alternatives are presented and by the environment in which decisions are made. The number of options, defaults, social norms and comparisons between alternatives can affect decisions, often without explicit awareness.
What happens in the session?
Topics include the compromise effect, choice overload, default options, nudge theory, social norms, the decoy effect, temporal reframing and reciprocity. The session also covers prospect theory and choice architecture, using marketing and pricing examples to explore how these mechanisms appear in consumer decisions.
Why does it matter?
Decisions are not shaped by rational calculation alone. The course materials demonstrate how attitudes, judgements and behaviour can be influenced by the social environment, comparisons with others, and temporary psychological and physiological states.
What happens in the session?
The session examines the three principles presented in the slides — manners, monkeys and moods — including social influence, social priming, experimental game behaviour, group identification and social comparison. It also examines how moods and temporary states affect choices and how these factors help explain behaviour that does not fit the classical rational-agent model
Why does it matter?
Critical marketing asks which assumptions about marketing and consumer culture are taken for granted, how they have developed and whose interests existing practices serve. The course material examines both marketing's positive contribution and its potential negative effects on different groups in society.
What happens in the session?
Topics include ontological denaturalisation, Marx's commodity fetishism, Veblen's conspicuous consumption and trickle-down theory, the Frankfurt School's culture industry, critical sociology and Foucault's concept of power. The session also considers consumer needs, choice overload, consumer sovereignty, advertising, brands, vulnerable consumer groups and consumer responses to marketing. The materials further address critical perspectives on international marketing, Western consumer culture and consumer identity.
Entry requirements
To ensure effective participation and meaningful peer learning, applicants are expected to meet the following criteria:
- A completed bachelor’s degree or professional higher education qualification.
- Basic knowledge of marketing and management, or previous practical experience in these fields, is an advantage.
- As the course is taught in English, participants are expected to have at least B2-level English proficiency.
- For non-Estonian residents: EU citizenship or a valid temporary residence permit that allows study in Estonia.
Intended learning outcomes
Upon completion of the course the student:
1. Understands the ontological foundations of behavioural economics and critical marketing, acknowledging their societal impact. (Knowledge)
2. Applies insights from behavioural economics and critical marketing to respond to managerial challenges in complex, uncertain contexts. (Application)
3. Works in an international team to critically examine corporate practices and propose alternatives drawing on behavioural economics and critical marketing perspectives. (Social)
4. Demonstrates a broadened perspective for responsible business leadership. (Individual)
5. Communicates effectively in international teams while addressing potential organisational (mal)practices. (Transferable)
Course Completion requirements
The final result consists of a post-course assignment worth 20%, active participation worth 20%, and a presentation worth 60%. The presentation is completed in pairs or groups of three, depending on the number of students.
Assessment follows the standard EBS grading scale:
Certificates Awarded
Participants who complete the course will receive a continuing education certificate with ECTS
Learning Enviroment
The courses takes place at EBS’s modern campus in Tallinn, Lauteri 3. Students have access to ergonomic classrooms, the EBS library, and the cloud-based Canvas learning platform. The study process is supported by online tools such as Canvas and MS Teams. Free Wi-Fi is available throughout the building.
Behavioural Economics and Critical Marketing is in preparation
If interested, add your email to the waiting list and we'll send you a notification when the course details are ready and registration is possible.