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This course examines saving and spending decisions by individuals and households over the lifecycle in the context of national retirement savings and incomes policies. The lifecycle model of saving and consumption provides the basis for analysis of individual decision making before and after retirement. This is augmented with an examination of economic and financial risks facing both individuals and product providers before and after retirement. We also examine behavioural explanations for deviations from rational behaviour as predicted by the lifecycle model. Topics covered include a taxonomy of the lifecycle; lifecycle theories of consumption and saving; human capital and the retirement decision; risks facing individual retirees and providers of retirement income products; market failure in the retirement benefit market; and behavioural explanations for non-rational behaviour including myopia, procrastination, complexity, and framing etc.