Economics Excursion
May 23, 2025
On Thursday 15 May, our Year 11 Economics class went to Chadstone to investigate how behavioural economics plays out in the real world. We were able to investigate the many ways that businesses capture customers’ attention, from eye-catching window displays to special deals, which gave us insight to how we are often influenced by psychology and do not always act in rational ways.
Through this fun, but educating, experience we identified the key concepts we studied such as anchoring, vividness, herd behaviour and status quo biases. It was a very valuable experience that helped us take a break from classroom learning and get out there in the real world to get hands on experience about what we have been learning.
