Module ECON40G15: Behavioural & Experimental Economics

Department: Economics

ECON40G15: Behavioural & Experimental Economics

Prerequisites

• None

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To develop specialised knowledge in theories of behavioural economics and test these theories using methods in experimental economics.

Content

• The module is designed to combine the behavioural approach in economics with active classroom experiments. These experiments illustrate simple economic situations, such as markets or auctions, and are used to highlight several economic ideas. We will critically review studies of economic behaviour in markets, bargaining, auctions, game theory, and public choice. We will also discuss key aspects of individual behaviour in isolation, in particular choice under uncertainty and choice over time.

Learning Outcomes

• have an advanced knowledge and critical understanding of Behavioural Economics.
• understand how research into Behavioural Economics is conducted.
• have a comprehensive and detailed knowledge of experimental methods in economics.

• By the end of the module students should be able to:
• assess the implications of Behavioural Economics in theory and practice.
• critically evaluate experiments in economics and the resulting behavioural insights and theoretical predictions.
• design experimental treatments that can identify and test these predictions.

• Written Communication;
• Planning, Organising and Time Management;
• Problem Solving and Analysis;
• Using Initiative;
• Numeracy;
• Computer Literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• A combination of lectures, seminars and guided reading will contribute to achieving the aims and learning outcomes of this module. Classroom activities and experiments will be used to illustrate how research in Behavioural Economics is conducted and how results are interpreted.
• The summative assessment is an individual assignment of 2,500 words designed to test students' knowledge and critical understanding of the material covered in the module, their analytical and problem-solving skills.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on BLU; feedback on discussions with teaching staff during consultation hours, or via e-mail.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University