Financial LiteracyFinancial literacy, particularly in areas that are relevant to consumers such as credit, interest rates, savings and investment. For example, modeling the costs of high interest loans and credit cards.
Market EconomicsThe basic economics of markets. For example, an overview of information asymmetry whereby sellers often have much more information about a product, service or asset than the buyer.
Behavioral EconomicsBehavioral economics including the common behaviors of consumers and firms. For example, irrational purchases driven by a fear of missing out or decision fatigue.
PricingAn overview of common pricing practices such as price discrimination whereby sellers try to sell at a higher price to consumers with low price sensitivity.
QualityThe factors that influence the quality of products and services. For example, comparing the safety characteristics of different bicycle helmets.
CostModeling the total cost of ownership of products and services. For example, a cheap printer that constantly needs expensive cartridges versus an ink tank printer that has a higher purchase cost but far lower operational cost.
Consumer ProtectionAn overview of consumer protection laws, consumer rights and fair commercial practices. For example, when you have the right to return an item or cancel a contract without penalty.
Health, Safety & WellnessSpecial attention may be paid to products that influence health, safety and wellness such as the nutritional value of food products.
Media & ConsumersA critical look at advertising and media promotion of products and how this influences consumers.
Consumer SocietySocial aspects of consumerism. For example, a brand that represents social status such that it sells products and services with very high profit margins. This represents commoditization of the human experience whereby products and services try to serve needs that were once non-commercial.
Ethical ConsumerismInvestigating the impact of purchases on people and planet.
|Overview: Consumer Education
Education that prepares individuals to participate in markets as a informed consumer.