| Unit name | Policy Experiments |
|---|---|
| Unit code | EFIMM0037 |
| Credit points | 15 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Professor. Burgess |
| Open unit status | Not open |
| Pre-requisites |
ECONM1010 Microeconomics; ECONM1022 Econometrics |
| Co-requisites |
None |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
This unit will provide an introduction to the increasingly important area of using field experiments to evaluate policy and to test economic theory.
The unit will review the benefits and potential limitations of using field experiments (compared to other evaluation tools used by economists).
t will introduce students to key issues in the design and implementation of field experiments to evaluate policy and to test economic theory (for example, different ways of randomizing, determining appropriate sample sizes).
Students will see many practical examples of field experiments in different fields (for example, Labour Economics, Development Economics, Education).
Students will also be asked to design (in outline form) their own field study in order to think through issues from first-hand perspective.
The unit will consider field experiments in developing and developed country contexts.
Students will understand the benefits – and some limitations of – evaluating policy with field experiments They will understand key elements in the practical design and implementation of field experiments designed to evaluate policy and test economic theory. They will be able to apply key concepts to a practical policy setting
Lectures will introduce key material and cover important empirical papers while classes will cover exercises (designed to test understanding of the material) as well as student presentations.
Summative assessment:
(a) Two hour written exam worth 50% of the marks. The exam will test key concepts in the design and execution of policy experiments in the field and the application of those concepts in empirical papers.
(b) Project report (worth 50% marks). Students will be expected to write a practically-oriented paper (e.g. an outline for a policy field experiment) with a 1500 words maximum.
Formative assessment:
Students will engage in class discussion and be required to present relevant papers in class.
There is no single text book, but material will be drawn from a number of reference papers, including:
