From March 20 to June 5, 2021, Mr. David Dickinson, Chair Professor of Central University of Finance and Economics and Professor of Business School of University of Birmingham, UK, taught the students enrolled in master’s and doctor’s degree programs of the School of Finance in 2020 (including international students) “Behavioral Finance” online. This program was supported by the “Talent Introduction Project of the Central University of Finance and Economics.”
Screenshot of the course
In the course, Professor Dickinson explained the connotations, basic ideas, theoretical knowledge, and future research directions of behavioral finance with profundity and an easy-to-understand approach. In combination with mathematical knowledge and models, he also explained a series of critical theories in behavioral finance, such as consumption-based capital and asset pricing model, time series behavior analysis of asset returns, overreaction, overconfidence, prospect theory, noise traders model, and the theory and application of behavioral corporate finance. In addition, Professor Dickinson also used data to provide further analysis of bubbles caused by the irrational behavior of investors.
Behavioral finance is a relatively novel financial theory. Over recent years, using psychological knowledge to analyze individual behavior and explain, study, and predict financial markets' development has become a trend in economic research. Professor Dickinson’s course helped students interpret financial phenomena from different perspectives and gave them a chance to acquire research methods and enhance academic abilities.
In each group presentation, Professor Dickinson listened to the data sources, theoretical models, and empirical methods of the students’ empirical research and gave opinions on each group’s empirical evidence, from which the students benefited a lot.
Group presentation
After the class, the students discussed with Professor Dickinson online what they had learned from the course and the difficulties in the group presentations. They told Professor Dickinson the problems in the derivation process of the theoretical model and the issues encountered in the empirical research process of the research topic in emails. Professor Dickinson gave detailed answers one by one, solving the students’ puzzles.
