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During 2021 we will continue to support students who need to study remotely due to the ongoing impacts of COVID-19 and travel restrictions. Make sure you check the location code when selecting a unit outline or choosing your units of study in Sydney Student. Find out more about what these codes mean. Both remote and on-campus locations have the same learning activities and assessments, however teaching staff may vary. More information about face-to-face teaching and assessment arrangements for each unit will be provided on Canvas.

Unit of study_

ECON5008: Behavioural Economics

This unit builds on prior studies of microeconomics by introducing key concepts in Behavioural Economics. The implications of these departures from neoclassical economics will be explored for a range of topics, which may include financial decision-making, wage and incentive contracts, public policy, and charitable giving.


Academic unit Economics
Unit code ECON5008
Unit name Behavioural Economics
Session, year
Intensive September, 2020
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

(ECON5001 or ECON5040) and (ECMT5001 or QBUS5001)
Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Guy Mayraz,
Type Description Weight Due Length
Presentation group assignment Presentation
20% Multiple weeks 20 minutes
Outcomes assessed: LO1 LO2 LO3 LO5
In-semester test (Open book) Type C in-semester exam Mid-term exam
Mid-term exam
20% Week 04
Due date: 19 Sep 2020
50 minutes
Outcomes assessed: LO1 LO5 LO4 LO2
Final exam (Record+) Type B final exam Final Exam
Final exam
60% Week 09
Due date: 23 Oct 2020
2 hours
Outcomes assessed: LO1 LO2 LO4 LO5
group assignment = group assignment ?
Type B final exam = Type B final exam ?
Type C in-semester exam = Type C in-semester exam ?

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range


High distinction

85 - 100



75 - 84



65 - 74



50 - 64



0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic honesty, academic dishonesty, and the resources available to all students.

The University expects students and staff to act ethically and honestly and will treat all allegations of academic dishonesty or plagiarism seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic dishonesty. If such matches indicate evidence of plagiarism or other forms of dishonesty, your teacher is required to report your work for further investigation.

WK Topic Learning activity Learning outcomes
Week 01 1. Introduction; 2. Choice over time: temptation and present-biased preferences Seminar (6 hr)  
Week 02 1. Choice over time; 2. Choice under risk: violations of expected utility and prospect theory Seminar (6 hr)  
Week 03 1. Choice under risk; 2. Reference-dependent preferences Seminar (6 hr)  
Week 04 1. Heuristics and biases in beliefs and in decision making; 2. Bounded rationality Seminar (6 hr)  
Week 05 1. Behavioural finance: stock trading, property, and bubbles; 2. Social preferences Seminar (6 hr)  
Week 06 1. Subjective well-being; 2. Behavioural insights in public policy Seminar (6 hr)  

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Prescribed readings

Refer to Canvas

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University’s graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. understand key behavioural economics findings and the most important ways of integrating them into standard economic models
  • LO2. think critically about behavioural economic concepts and modelling techniques
  • LO3. present a behavioural economics paper to an audience of other students, and answer questions about it.
  • LO4. analyse and solve problems using behavioural economics models
  • LO5. think critically about the economics, business, and societal significance of behavioural economics findings, concepts, and models.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
No changes have been made since this unit was last offered


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