Global Network Week: The Psychology of Your 401(k)

During the week of October 14–18, MBA students from seven schools in the Global Network for Advanced Management are traveling around the world for Global Network Week. They’ll spend the week in intensive study at another member school alongside their counterparts from elsewhere in the network. Check this page for updates throughout the week.

Visit the Yale SOM Tumblr for photos and updates from around the network.

Update: October 17

Behavioral economics, the focus of this week's program at Yale SOM, explores how our financial decisions are affected by human failings like overconfidence and procrastination. During the previous Global Network Week in March 2013, Prof. James Choi discussed his influential research showing that automatic enrollment in 401(k) plans has a dramatic effect on savings rates.

Update: October 16

As part of Global Network Week, traveling students have the chance to meet locally based alumni of network schools. Below, a reception for students and alumni at Fudan University in Shanghai.

View more photos on the Yale SOM Tumblr

Update: October 15

Yale SOM’s program focuses on the theme “From Madison Avenue to Wall Street: Everything You Need to Know about Behavioral Economics”; the week includes classroom lectures by leading faculty and a trip to New York City for company visits. To get a sample of the academic component of the week, watch an excerpt from a lecture by Professor Ravi Dhar titled “Consumer Insights in the Marketplace.” Watch the video.

Update: October 11

Each of the seven schools participating in Global Network Week has designed a course of study focusing on an area of local interest and faculty expertise. For example, Fudan University School of Management in Shanghai has assembled a program titled “Doing Business in China.” It will include classes taught by Fudan faculty on various aspects of China from a manager’s point of view, including marketing, economic development, geopolitics, and intellectual property law; students will visit Lenovo and Bosch for two perspectives from global companies with extensive operations in China.

University College Dublin’s Smurfit Business School is offering a course titled “Digital Marketing: Understanding Opportunities and Devising Strategies.” The course will take advantage of Dublin’s position as a technology hub, with visits to the European headquarters of Facebook and Google. Smurfit faculty will teach classes on digital marketing, analytics, strategy, and communication; students will also hear from visiting executives at Dublin-based technology firms.

Yale SOM’s own course is called  “From Madison Avenue to Wall Street: Everything You Need to Know about Behavioral Economics.” Drawing on Yale’s faculty expertise in behavioral science, it includes sessions on behavioral finance, financial history, leadership, marketing, and decision making.

Other programs include “Global Strategies for Emerging Economies,” at EGADE Business School, Mexico City; “Macro Economics: Coping with the Crisis and Deriving Implications for the World,” at IE Business School, Madrid; “Business Practices in the Emerging Market: A China Case Study,” at Renmin University of China School of Business, Beijing; and “Start-up Nation,” at Technion-Israel Institute of Technology, Haifa.