ECON42560 Behavioural Economics

Academic Year 2022/2023

The purpose of this course is to provide a graduate level introduction to key topics in behavioural economics. Behavioural economics incorporates methods and insights from psychology, sociology, philosophy, and other fields into economic analysis in order to enrich our understanding of human behaviour.

The content is roughly divided into two parts: Behavioural Decision Making and Behavioural Game Theory.

The lectures will be highly interactive and aim to equip students with the ability to critically evaluate and discuss cutting edge research in Behavioural Economics.

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Curricular information is subject to change

Learning Outcomes:

The key learning outcomes of this module:

- A mastery of key concepts in behavioural economics.

- An understanding of how theory and empirics can be combined to better understand human behaviour.

- The ability to apply behavioural concepts more generally to economic areas of interest.

- The ability to critically evaluate, present, and discuss research in Behavioural Economics.

Indicative Module Content:

The course will cover a selection of the following topics:

1. Decision Making under Risk and Uncertainty

2. Probability Theory, Heuristics, and Biases

3. Prospect Theory, Reference Dependence, and Mental Accounting

4. Intertemporal Choice

5. Behavioural Game Theory

6. Social Preferences

7. Role of Social Identities in Decision Making

8. Bounded Rationality in Games

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning

100

Lectures

22

Total

122

Approaches to Teaching and Learning:
The module will be delivered through a series of lectures on cutting-edge topics in behavioural economics. The approach to teaching and learning is highly interactive and includes student presentations, participation in mock experiments in class, and individual as well as group work.

Students will have the opportunity to participate in interactive classroom experiments using their smartphones. This technology-enhanced approach allows students to experience an economic decision making problem, work on a solution, and receive real-time feedback, promoting active and experiential learning. 
Requirements, Exclusions and Recommendations
Learning Recommendations:

There are no formal pre-requisites for the course. However, a basic knowledge of microeconomics and game theory will be assumed.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Problem solving and answering questions.
2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

70

Presentation: In-class presentation of a group project. Throughout the Trimester n/a Graded No

30


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Spring No
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

- Students will receive comments following their group presentation - Students will be given individual feedback in the form of grades for the presentation and exam paper

There is no single textbook for the course and much of the material is based on scientific articles and books. A detailed References List will be provided for each topic at the end of each lecture.

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Autumn
     
Lecture Offering 1 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Mon 14:00 - 15:50