Sound decision-making and critical thinking have always been important skills for creating success. In a world that has become increasingly complex and that is changing at an ever-increasing pace, these skills are even more important than ever before. Yet, too many individuals and organizations are ill prepared when it comes to making smart decisions and how to critically examine the abundance of data and information that is all around us.
This module gives an overview of the art and science of decision-making and critical thinking. It provides the motivation to view decision situations as opportunities rather than problems and to view decision making as a skill that can be learned, practiced and improved upon like any other skill. It also discusses the many pitfalls and psychological biases that have a tremendous impact on our thinking and decision-making and have led to new fields such as behavioral economics and behavioral finance.
Book: Smart Choices, A Practical Guide to Making Better Life Decisions by John S. Hammond, Ralph L. Keeney and Howard Raiffa.