Postgraduate Programme and Module Handbook 2023-2024

Module ECON42515: BEHAVIOURAL ECONOMICS

Department: Economics

ECON42515: BEHAVIOURAL ECONOMICS

Type	Tied	Level	4	Credits	15	Availability	Available in 2023/24	Module Cap

Tied to	L1T109
Tied to	L1T309
Tied to	L1T409
Tied to	N3K709

Prerequisites

None

Corequisites

None

Excluded Combination of Modules

None

Aims

to develop students' ability to master the knowledge and understanding at an advanced level of key issues in Behavioural Economics;
to provide students with the opportunity to develop the ability to critically understand current theoretical and empirical research in the field of Behavioural Economics;
to provide students with the ability to critically review a wide range of behavioural phenomena that influence decisions, and the consequences of these phenomena for economic outcomes, with a view to undertaking a dissertation in the fields of Behavioural Economics; and potentially future research work in this area.

Content

As Behavioural Economics is a new and constantly changing discipline, this module will cover a set of core topics and additional topics that depend on the current nature of the discipline and the interests of the students each time:
Core Topics may include:
prospect theory and frame dependence
cognitive heuristics and biases
social preferences
nudging
Additional Topics may include:
individual characteristics
happiness
limited attention
overconfidence
emotions
neuroeconomics

Learning Outcomes

Subject-specific Knowledge:

have an advanced knowledge and critical understanding of Behavioural Economics and be able to take critical approach to economic claims in general;
understand how research into Behavioural Economics is conducted, and what the criteria are for evaluating both behavioural and market-based evidence.

Subject-specific Skills:

be able to assess the implications of Behavioural Economics on effective policy-making, anomalies in markets, and biases in individual and group decision making.

Key Skills:

Written Communication;
Planning, Organising and Time Management;
Problem Solving and Analysis;
Using Initiative;
Numeracy;

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 will be used to illustrate how research in Behavioural Economics is conducted and how results are interpreted.
The summative assessment is composed of two assignments, one of 750 words and one of 1500 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

Activity	Number	Frequency	Duration	Total/Hours
Lectures	10	1 per week	2 hours	20
Seminars	4	1 per fortnight	1 hour	4	■
Preparation & Reading				126
Revision Lectures	1		2 hours	2
Total				150

Summative Assessment

Component: Individual Assignment		Component Weighting: 100%
Element	Length / duration	Element Weighting	Resit Opportunity
Assignment 1	750 words	40%	Same
Assignment 2	1500 words	60%	Same

Formative Assessment:

Work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on Learn Ultra; 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