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Unit outline_

ECON5008: Behavioural Economics

Intensive August, 2022 [Block mode] - Camperdown/Darlington, Sydney

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.

Unit details and rules

Academic unit Economics
Credit points 6
(ECON5001 or ECON5040 or ECON6701) and (ECMT5001 or ECMT6702 or QBUS5001)
Assumed knowledge


Available to study abroad and exchange students


Teaching staff

Coordinator Agnieszka Tymula,
Type Description Weight Due Length
Presentation group assignment Presentation
Group 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 02
Due date: 13 Aug 2022 at 10:00
50 minutes
Outcomes assessed: LO1 LO2 LO4 LO5
Final exam (Record+) Type B final exam Final Exam
Final exam - week refers to week of Intensive session
60% Week 04
Due date: 27 Aug 2022 at 10:00
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 ?

Assessment summary

Detailed information for each assessment task 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 guide to grades.

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.

Academic integrity

The Current Student website  provides information on academic integrity 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 integrity breaches seriously.  

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

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Introduction / Utility maximisation / Economic rationality / Paradoxes Block teaching (12 hr) LO1 LO5
Week 02 Decision-making under risk / Prospect Theory / Subjective perception of probabilities / Ambiguity / Belief updating / Loss aversion / Discounting / Reference point Block teaching (12 hr) LO1 LO2 LO3 LO4 LO5
Week 03 Neuroeconomics and other topics (e.g. overconfidence, trust, cooperation) Block teaching (12 hr) LO1 LO2 LO3 LO4 LO5

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.

Required readings

Refer to Canvas

There are no assigned readings in preparation for the first weekend of classes.

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

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered


The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.