{"id":20158,"date":"2023-04-19T13:44:29","date_gmt":"2023-04-19T17:44:29","guid":{"rendered":"https:\/\/alumni.cornell.edu\/cornellians\/?p=20158"},"modified":"2023-06-28T13:59:36","modified_gmt":"2023-06-28T17:59:36","slug":"better-decisions-course","status":"publish","type":"post","link":"https:\/\/alumni.cornell.edu\/cornellians\/better-decisions-course\/","title":{"rendered":"Popular Course Offers Life Lessons from Faculty Dream Team"},"content":{"rendered":"\n

Drawing on research in psychology and economics, the profs offer practical tools for relationships, finances, and more<\/p>\n\n\n\n

By Joe Wilensky<\/strong><\/p>\n\n\n\n

The title of the behavioral economics course\u2014\u201cBetter Decisions for Life, Love, and Money\u201d\u2014is unabashedly enticing, and Professor Robert Frank admits that his wife teases him about it. \u201cIt\u2019s a shameless marketing gimmick that probably helped attract students,\u201d he says\u2014while noting that the name is actually pretty accurate.<\/p>\n\n\n\n

Launched as a pilot project in 2018<\/a>, the course offers life lessons from a team of six professors\u2014a mix of psychologists and economists\u2014who each deliver several lectures.<\/p>\n\n\n\n

Their aim? To improve students\u2019 understanding of human behavior, giving them the tools to make better decisions about finances, relationships, and life in general. <\/p>\n\n\n\n

<\/div>\n\n\n\n
\"Students
The course draws undergrads (and some grad students) from across the Hill.<\/figcaption><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The individual modules comprise what\u2019s essentially a \u201cbest of\u201d showcase of each professor\u2019s most useful takeaways for how to behave\u2014and to think\u2014in a complex world. <\/p>\n\n\n\n

They ponder such questions as:<\/p>\n\n\n\n

How do common biases affect judgment, and what are the perils of overconfidence? How is your choice of a life partner impacted by your preconceived notions of a loving relationship? <\/p>\n\n\n\n

How do both procrastination and the desire for instant gratification affect decision-making? What seemingly small, everyday choices can improve\u2014or harm\u2014your long-term health? <\/p>\n\n\n\n

Officially known as AEM 2020 \/ PSYCH 2940, the spring semester class began in 2018 with just 26 students; the professors taught it as volunteers (and continue to do so). <\/p>\n\n\n\n

The class began in 2018 with just 26 students; the professors taught it as volunteers.<\/p><\/blockquote><\/figure>\n\n\n\n

After enthusiasm for the course spread via word of mouth, enrollment jumped to nearly 200 a year later and approached 300 by 2020. During the pandemic, the cap rose to 500 (then the Zoom maximum)\u2014and when in-person teaching resumed in 2022, it moved to its present location in the 700-seat Statler Auditorium. <\/p>\n\n\n\n

In addition to Frank, a professor of economics and management, the course is currently taught by Tom Gilovich (psychology), J. Edward Russo (management), Ted O\u2019Donoghue (economics), Suzanne Bliven Shu \u201990, MEng \u201992 (marketing), and Bill Schulze (applied economics and management).<\/p>\n\n\n\n

Its practical, research-based curriculum is an outgrowth of work being done at Cornell\u2019s Behavioral Economics and Decision Research Center<\/a>, founded in 1989 and often called the birthplace of its field.<\/p>\n\n\n\n

\u201cMaking better decisions, being responsible with finances, and setting up goals for the future seem like basic topics,\u201d observes government major Breanna Masci \u201926, who wasn\u2019t quite sure what to expect when she enrolled in the class, \u201cbut I was surprised to discover how little I knew about each of these.\u201d <\/p>\n\n\n\n

The course\u2019s many life lessons include:<\/p>\n\n\n\n

Aim to be the person you\u2019d want your kids to be\u2014because we learn from, and conform to, the behavior around us.<\/p>\n\n\n\n

Strive to be trustworthy; cooperation only works if people feel they can rely on you.<\/p>\n\n\n\n

Your options are never completely neutral\u2014someone or something is always structuring, limiting, or influencing them\u2014so learn how to reframe them in ways that further your goals.<\/p>\n\n\n\n

\u201cAlthough I have a tremendous amount of respect for theoretical knowledge, this particular course has more life applicability than any other,\u201d says Big Red men\u2019s tennis coach Silviu Tanasoiu, MPS \u201921, who took the course as a grad student in applied economics and management. \u201cIt is rich with lessons for our daily lives.\u201d<\/p>\n\n\n\n

\n

It is rich with lessons for our daily lives.<\/p>\nSilviu Tanasoiu, MPS \u201921<\/strong><\/cite><\/blockquote>\n\n\n\n

Despite all the evidence-based concepts the course covers, it also offers a surprising takeaway: no matter how carefully you use these tips, sometimes life boils down to luck.<\/p>\n\n\n\n

Frank exemplifies that in a very personal lecture, in which he shares the tale of his own near-death: he collapsed on a tennis court in 2007, having suffered an episode of sudden cardiac arrest, which is 98% fatal when it occurs outside a hospital.<\/p>\n\n\n\n

As it happened, though, two EMT crews had been dispatched to a pair of nearby car accidents, but only one was needed; the other sped to his side.<\/p>\n\n\n\n

\u201cSo why am I alive today, and still able to function more or less normally?\u201d Frank muses. \u201cIt\u2019s because I was the beneficiary of what I consider to have been pure, dumb luck.\u201d<\/p>\n\n\n\n

<\/div>\n\n\n\n
\"Professor
The course meets in Statler Auditorium\u2014home to another iconic class, Intro to Wines.<\/figcaption><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The experience caused him to start investigating the concept\u2014and how people don\u2019t usually notice the role that random chance plays in their lives, unless it is particularly good or bad. <\/p>\n\n\n\n

His story invariably makes an impression on students; in spring 2023, computer science major Joey Johnson \u201925 was so moved that he told Frank it was the best lecture he\u2019d ever attended. What\u2019s more, the class as a whole has made Johnson re-examine the influences behind his past choices.<\/p>\n\n\n\n

\u201cOverall, what I\u2019m finding from the course is that decision-making is ridiculously subjective,\u201d he says. \u201cIt almost seems like it contradicts the point of the class, but there is no surefire way to have a good decision.\u201d<\/p>\n\n\n\n

And, Johnson adds, given how much he has gotten out of the class, he considers himself lucky to be taking it in the first place. <\/p>\n\n\n\n

\u201cI kind of ended up in it by accident,\u201d he admits. \u201cI wasn\u2019t planning on it, and I had not sought it out. I just needed to fill a spot on my schedule.\u201d<\/p>\n\n\n\n

Top: Professor Ted O\u2019Donoghue lectures on risk-taking. All photos by Sreang Hok \/ Cornell University<\/em>.<\/p>\n\n\n\n

Published April 19, 2023<\/p>\n\n\n\n

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