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Unit of study_

ECOS3016: Experimental and Behavioural Economics

Experimental economics uses experimental methods to evaluate the performance of economic models, institutions and policies. Behavioural economics combines experimental and field evidence with insights from neighbouring disciplines such as psychology, to develop richer economic models of decision-making. This unit will develop the key research methods and major findings of each of these fields, and explore both theoretical and practical implications. Students will read a number of seminal research papers in both experimental and behavioural economics, and will have opportunities to participate in classroom experiments.

Code ECOS3016
Academic unit Economics
Credit points 6
Prerequisites:
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ECOS2001 or ECOS2901
Corequisites:
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None
Prohibitions:
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None

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

  • LO1. Understand how experimental and behavioural economics relate to other methods and bodies of thought, and in particular to ‘standard’ economic theory
  • LO2. Demonstrate familiarity with the main areas to which experimental and behavioural economics have been applied, and some key findings that have been observed in each of these areas
  • LO3. Recognise the major departures from rationality that are identified in experimental and behavioural economics
  • LO4. Understand how economic theories are being revised in light of experimental and behavioural economics findings
  • LO5. Appreciate how experimental and behavioural economics methods contribute to explaining field phenomena, and the design of policy
  • LO6. Critically review and evaluate original research in experimental and behavioural economics