This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Undergraduate Handbook 2025-2026 (archived)
Module ECON2141: Behavioural and Experimental Economics
Department: Economics
ECON2141: Behavioural and Experimental Economics
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Tied | 2 | 20 | Available in 2025/2026 | Durham |
Tied To
- CFC0: Natural Sciences (Psychology pathway)
- CFG0: Natural Sciences
- FGC0: Natural Sciences
- L100: Economics
- L103: Economics with Management
- L104: Economics with Management with Placement Year
- L105: Economics with Management with Study Abroad
- L106: Economics with Placement Year
- L109: Economics with Study Abroad
- L125: Economics and Mathematics
- L130: Economics
- L133: Economics with Management
- L134: Economics with Management with Placement Year
- L135: Economics with Management with Study Abroad
- L136: (programme not found)
- L139: (programme not found)
- LA01: Liberal Arts
- LA02: Liberal Arts (with Year Abroad)
- LA03: Liberal Arts (with Placement Year)
- LL01: Economics and Politics with Study Abroad
- LL02: Economics and Politics with Placement Year
- LL12: Economics and Politics
- LMV0: Combined Honours in Social Sciences
- LMVA: Combined Honours in Social Sciences (with Year Abroad)
- VL52: Philosophy, Politics and Economics
- VLL6: Philosophy, Politics and Economics with Placement Year
- VLLA: Philosophy, Politics and Economics with Study Abroad
Pre-requisites
- Principles of Economics (ECON1011) AND EITHER Economic Methods (ECON1021) OR Calculus I (MATH1061) AND Linear Algebra I (MATH1071) AND Probability I (MATH1597) AND Statistics I (MATH1617)
Corequisites
- None
Excluded Combinations
- None
Aims
- To provide an understanding of theories in behavioural economics.
- To provide training and exposure to experimental economics
- Identify and understand the elements of experimental design
- Analyse and critique an experimental design
- Design and conduct an experiment
Content
- The course will expose students to theories of behavioural economics, and is likely to include:
- Shortcomings of the rational choice model and deviations from Expected Utility Theory
- Prospect theory and preference dependence
- Time preferences
- Social preferences and fairness
- The contribution of experimental economics to understanding the behavioural side of economics, mainly:
- What is an experiment?
- Why do experiments?
- Control in experiments
- Statistics and design
- Protocol and implementation
- Field experiments
- Additional topics may include:
- Experimental tests of game theory
- Social dilemmas and public goods
- Empirical application of experiments
Learning Outcomes
Subject-specific Knowledge
- At the end of the module students should be able to understand research contributions in behavioural and experimental economics.
Subject-specific Skills
- Be able to apply problem solving and analytical skills to behavioural economic issues.
- Be able to design experiments to test hypotheses that are related to economic theory.
- Ability to identify behavioural aspects (either divergence or convergence) of economic theory.
Key Skills
- Written communication - through formative and summative assessments.
- Oral communication - presenting of papers and participating in seminars.
- Planning, organising and time management - preparing for presentation, class discussions and examination.
- Problem solving and analysis - applying the necessary analytical and quantitative skills, as well as the ability to manipulate economics concepts in answering exam questions.
- Numeracy - by applying core mathematical and statistical skills to answer a range of exam questions.
Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module
- Teaching is by lectures and seminars supported by classroom experiments through the medium of a virtual online laboratory. Learning takes place through attendance at lectures, preparation for and participation in seminars, experiments and private study.
- Formative assessment to prepare for the examination.
- Summative assessment is by means of in-person examination to test students' knowledge and understanding of the subject-matter worth 100% of the module mark.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total Hours | Attendance Monitored |
|---|---|---|---|---|---|
| Lectures | 20 | 1 per week | 1 hour | 20 | |
| Seminars | 8 | 4 in Term 1, 4 in Term 2 | 1 hour | 8 | Yes |
| Revision Classes | 2 | 1 per week | 1 hour | 2 | |
| Preparation and Reading | 170 | ||||
| Total | 200 | ||||
Summative Assessment
| Component | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Assignment | 100% | Assignment | 750 words max | 40% | |
| Assignment | 1500 words max | 60% |
Formative Assessment
One piece of work to prepare students for the summative examination, e.g. presentations.
Students who do not attend monitored activities shown under Teaching Methods
and Learning Hours, or who fail to complete the summative or formative
assessment(s) specified above, may be subject to the Academic Progress
procedures defined in the University's General Regulation V, and may be
required to leave the University.