EC989: Behavioural Economics
Lory Barile
Module Leader
Matthew Ridley
Module Lecturer
Principal Aims
EC989-15 Behavioural EconomicsPrincipal Learning Outcomes
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: Exam.
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: Exam.
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: Exam.
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: Exam.
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: Exam.
Syllabus
The syllabus may cover, but is not limited to, the following areas:
• Effect of reference dependent preferences, loss aversion, present bias and social preferences, in the labour, in the financial and in other important markets.
• The relationship between choice utility and subjective wellbeing.
• 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
- Optional Module
- C8P7 - Year 1, C8P8 - Year 1, L1P7 - Year 1, L1P6 - Year 1
- Pre or Co-requisites
- Basic knowledge of econometrics and microeconomics theory.
Assessment
- Assessment Method
- In-person Examination (100%)
- Coursework Details
- In-person Examination (100%)
- Exam Timing
- May
Exam Rubric
Time Allowed: 2 Hours
Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.
There are TWO sections in this paper. Answer ONE question in Section A (50 marks) and ONE question in Section B (50 marks).
Answer each whole question in a separate booklet.
Approved scientific (non-graphical) 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.