ECON42560 Behavioural Economics

Academic Year 2021/2022

The purpose of this course is to provide a graduate level introduction to the principles of 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.

Topics covered include decision making under uncertainty, heuristics and biases, prospect theory, inter-temporal decision making, other-regarding preferences, role of social identities in decision making, and bounded rationality.

The lectures will be highly interactive and aim to equip students with the ability to critically evaluate and present 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 and present 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. Heuristics and Biases

3. Prospect Theory

4. Mental Accounting

5. Intertemporal Choice

6. Behavioural Game Theory

7. Social Preferences

8. Role of Social Identities in Decision Making

9. Bounded Rationality in Games

Student Effort Hours: 
Student Effort Type Hours
Lectures

24
Autonomous Student Learning

125
Total

149
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. 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Presentation: In-class presentation of a group project. Throughout the Trimester n/a Graded No

30
Examination: Problem solving and answering questions. Please note that format/type of assessment may change if COVID-19 restrictions are reimposed.
 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

70

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.