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EC989: Behavioural Economics

  • Alexander Dobson

    Module Leader
  • Lory Barile

    Module Lecturer
15/18 CATS - Department of Economics
Spring Module

Principal Aims

15 CATS EC989-15 Behavioural Economics 18 CATS EC989-18 Behavioural Economics

Principal Learning Outcomes

15 CATS

"Subject Knowledge and Understanding: Demonstrate knowledge of the main theoretical and empirical debates in Behavioural Economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: Assessed essay"

"Subject Knowledge and Understanding: Demonstrate an understanding of concepts including prospect theory, other-regarding preferences, hyperbolic discounting, the economics of happiness, behavioural finance and neuroeconomics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: Assessed essay"

"Subject Knowledge and Understanding: Understand the way in which Behavioural Economics has developed and how it can be related to traditional rational agent-based models in Economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: Assessed essay"

"Subject Knowledge and Understanding: Assess the strengths and weaknesses of different theories of Economic Behaviour. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: Assessed essay"

"Subject-specific skills/Professional Skills Demonstrate an ability to use empirical tools to analyse problems in Behavioural Economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: Assessed essay"

18 CATS

"Subject Knowledge and Understanding: Demonstrate knowledge of the main theoretical and empirical debates in Behavioural Economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: examination "

"Subject Knowledge and Understanding: Demonstrate an understanding of concepts including prospect theory, mental accounting, other-regarding preferences, hyperbolic discounting, happiness, behavioural finance and neuroeconomics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: examination "

"Subject Knowledge and Understanding: Understand the way in which Behavioural Economics has developed and how it can be related to traditional rational agent-based models in Economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: examination "

"Subject Knowledge and Understanding: Assess the strengths and weaknesses of different theories of Economic Behaviour. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: examination "

"Subject-specific skills/Professional Skills Demonstrate an ability to use empirical tools to analyse problems in Behavioural Economics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, independent study The summative assessment methods that measure the achievement of this learning outcome are: examination "

Syllabus

The syllabus may cover, but is not limited to, the following areas: 1) Effect of reference dependent preferences, loss aversion, present bias and social preferences, in the labor, in the financial and in other important markets.2) The relationship between choice utility and subjective wellbeing.3) Effect of macroeconomic variables on subjective wellbeing. The course will have an emphasis on the empirical identification of the different models, but it does not require an advanced econometric knowledge.

Context

Core Module
C8P7 - Year 1
Optional Module
L1P6 - Year 1, L1P7 - Year 1, C8P8 - Year 1

Assessment

Assessment Method
15 CATS - Coursework (100%) 18 CATS - 2 hour examination (May) (100%)
Coursework Details
15 CATS - Essay 1 (50%), Essay 2 (50%) 18 CATS - 2 hour examination (May) (100%)
Exam Timing
15 CATS - N/A 18 CATS - May

Exam Rubric

Time Allowed: 2 Hours

Answer TWO questions. All questions carry equal weight (50 marks).

Approved pocket calculators are allowed

Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.

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.

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