Sociology of Financial Behavior

Bachelor 2024/2025

Type: Elective course (Sociology and Social Informatics)

Area of studies: Sociology

Delivered by: School of Sociology

Where: Saint-Petersburg School of Social Sciences

When: 3 year, 1, 2 module

Mode of studies: offline

Open to: students of all HSE University campuses

Instructors: Ivan Iudin, Olga E. Kuzina, Ekaterina Pilipenko

Language: English

ECTS credits: 5

Full Syllabus

Abstract

The «Sociology of consumer finance» Bachelor Program is developed according to the standard educational requirements of the Federal State Autonomous Educational Institution of Higher Education «National Research University «Higher School of Economics» (HSE). Students are supposed to be familiar with Probability Theory and Statistics and Economics.

Learning Objectives

The main goal of this unit is to develop a critical, reflexive, and interdisciplinary approach to key problems in contemporary research on financial behaviour of households.
To know theoretical models of household saving behaviour which are developed in economic theory, economic psychology and economic sociology
To develop analytical skills to understand and interpret macro and micro statistics on household incomes and finance, and produce evidence based arguments
To have an overview of the results of empirical research on consumer finance studies
To develop research-related skills - to evaluate different research designs and methods, to formulate researchable questions, to construct questionnaire/interview guide, to write analytical reports using the data from national surveys or official statistics

Expected Learning Outcomes

to know conceptual and operational definitions of financial literacy and financial capability, as well as the results of international comparisons of financial literacy of individuals.
to know the causes and long-run macroeconomic implications of the rise in household indebtedness.
to know theoretical approaches and empirical research on the control and allocation of money within households, systems of money management in the families
to know theoretical models of households savings behaviour which are developed in behavioural economics
to know theoretical models of households savings behaviour which are developed in economic psychology
to know theoretical models of households savings behaviour which are developed in economic theory
to understand and interpret macro and micro statistics on household incomes and savings

Course Contents

Introduction
Financial markets and retail finance: institutional landscape and product line
Economic models of consumption and saving behaviour
Economic psychology of personal finance
Behavioural finance
Economic sociology of household financial decision making
Financial literacy and capability
Consumer credit and overindebtedness
Financial vulnerability of households
Access to financial services, financial inclusion, saving motives

Assessment Elements

Presentation
Task
class participation
Exam
Exam tests all knowledge and skills mastered during the course

Interim Assessment

2024/2025 2nd module
0.4 * Exam + 0.25 * Presentation + 0.25 * Task + 0.1 * class participation

Bibliography

Recommended Core Bibliography

Essig, L., & Winter, J. (2009). Item non-response to financial questions in household surveys: An experimental study of interviewer and mode effects. Munich Reprints in Economics. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.lmu.muenar.20547
Girasa, R. J. (2016). Shadow Banking : The Rise, Risks, and Rewards of Non-Bank Financial Services. Cham, Switzerland: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1344251
Is cohabitation more egalitarian? The Division of household labor in five European countries. (2012). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.58844C54
Jeffrey M. Wooldridge. (2019). Introductory Econometrics: A Modern Approach, Edition 7. Cengage Learning.
Jérôme Coffinet, & Christophe Jadeau. (2017). Household financial exclusion in the Eurozone: the contribution of the Household Finance and Consumption survey. IFC Bulletins Chapters. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.bis.bisifc.46.18
Lewin-Epstein, N. (2006). The division of household labor in Germany and Israel. Journal of Marriage and the Family, 68(5), 1147–1164. https://doi.org/10.1111/j.1741-3737.2006.00320.x
Min, C. K. (2019). Applied Econometrics : A Practical Guide. Abingdon, Oxon: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2045438
N. Gregory Mankiw. (2020). PDF Macroeconomics 10th Edition by N. Gregory Mankiw Download. https://doi.org/10.5281/zenodo.3752461
Smeeding, T. M., & Weinberg, D. H. (2001). Toward a Uniform Definition of Household Income. Review of Income & Wealth, 47(1), 1–24. https://doi.org/10.1111/1475-4991.00001
Webley, P. (2001). The Economic Psychology of Everyday Life. Hove: Psychology Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=536848

Recommended Additional Bibliography

Richard H. Thaler. (2018). From Cashews to Nudges: The Evolution of Behavioral Economics. American Economic Review, (6), 1265. https://doi.org/10.1257/aer.108.6.1265

Authors

PILIPENKO EKATERINA STANISLAVOVNA
KUZINA OLGA EVGENEVNA

Course Syllabus