• Behavioural Economics and Social Economics: Opportunities for an Expanded Curriculum

      Manning, Paul; University of Chester (Emerald, 2019-08-12)
      The Global Financial Crisis (GFC) undermined the legitimacy of orthodox economic assumptions, which nevertheless continue to frame business school pedagogy. In consequence, there is an opportunity for socio-economic insights to be more fully incorporated into the business school curriculum. This article reports and reflects on a socio-economic case study that was delivered to MBA students. The article demonstrates that the developing literature on behavioural economics has the potential to enhance students’ social-economic understanding of key areas of the curriculum. The paper presents an inter-disciplinary socio-economic teaching case that was informed by insights from behavioural economics. The teaching case concerned a socio-economic understanding of corruption and white-collar crime. It was also inter-disciplinary to include inputs from business history and criminology. The aim of the teaching case was to develop an appreciation among students that corruption and white-collar crime can be analyzed within a social economics lens. The teaching case example discussed in this article offered an alternative socio-economic understanding to core areas of the MBA curriculum, enabling students to apply a behavioural economic approach to corruption and more generally to white-collar-crime. The findings derived from this case study is that behavioural l economics has the potential to enhance the teaching of socio-economics. The GFC presents an opportunity to re-shape the business school curriculum to acknowledge the centrality of socio-economics and consequently to offer an alternative to the dominant ontological assumptions -taken from the economic understanding of rationality-that have previously under-pinned business school pedagogy. The originality of this article is to apply behavioural economics to a socio-economic teaching case studies in core subject areas of the MBA curriculum.