Principal Aims

This module introduces students in the Economics department to the latest topics in behavioural and experimental economics. Through a combination of lectures, readings, and class discussions, students will gain an enhanced understanding of new behavioural theories and their implications in a wide range of economic and social environments. The module will also familiarize students with various policies that use behavioural insights, providing them with an opportunity to explore new areas with policy implications and new ideas for policy design. By the end of the module, students will have developed critical thinking skills that will enable them to analyse and evaluate economic decisions and policies from a behavioural perspective.

Principal Learning Outcomes

Familiarity with new areas in behavioural and experimental economics: ... be familiar with emerging areas in behavioural and experimental economics, including human sociality, emotion, behavioural and environmental economics, and behavioural finance. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading. The summative assessment methods that measure the achievement of this learning outcome are: Examination and written report.

A behavioural perspective: ... demonstrate an ability to look at economic and social issues from a behavioural perspective, gaining an understanding of the role of cognitive biases and heuristics in decision-making. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading. The summative assessment methods that measure the achievement of this learning outcome are: Examination and written report.

Applying behavioural theories: ... demonstrate how to apply new behavioural theories to different fields, such as environmental economics and finance, and develop the ability to analyse different phenomena in behavioural science. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading. The summative assessment methods that measure the achievement of this learning outcome are: Examination and written report.

Discuss and understand behavioural public policy: ... discuss various aspects of behavioural public policy, critically analysing these policies and comparing them with classic public policy. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading. The summative assessment methods that measure the achievement of this learning outcome are: Examination and written report.

Develop a critical understanding of how behavioural economics can contribute to policymaking and apply their knowledge to real-world economic problems. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading. The summative assessment methods that measure the achievement of this learning outcome are: Examination and written report.

Syllabus

Context

Optional Module

LM1D (LLD2) - Year 3, LM1D (LLD2) - Year 4, GL12 - Year 3, L1PA - Year 1, V7ML - Year 3, V7MM - Year 3, V7MP - Year 3, LA99 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L1L8 - Year 3

Pre or Co-requisites

Any of:

EC107-30 Economics 1 or

EC108-30 Macroeconomics I or

EC136-15 Economics 1: Macro

AND

EC107-30 Economics 1 or

EC109-30 Microeconomics I or

EC137-15 Economics 1: Micro

AND

EC203-30 Applied Econometrics 1 OR

EC226-30 Econometrics 1

Summary:

Summary:

Modules: (EC108-30 or EC136-15) and (EC203-30 or EC226-30) and (EC107 or EC137 or EC109)

Summary:

Modules: (EC108-30 or EC136-15 or EC107-30) and (EC203-30 or EC226-30) and (EC109-30 or EC137-15 or EC107-30)

Assessment

Assessment Method

Coursework (40%) + Final Exam (60%)

Coursework Details

Final Exam (60%) , Individual Report (40%)

Exam Timing

Summer

Exam Rubric

Time Allowed: 2 hours

There are TWO sections in this paper. In Section A, answer ONE SHORT-ANSWER QUESTION from a choice of two (15 marks), and ONE LONG-ANSWER QUESTION from a choice of two (35 marks). In Section B, answer ONE SHORT-ANSWER QUESTION from a choice of two (15 marks), and ONE LONG-ANSWER QUESTION from a choice of two (35 marks).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.