Unit name | Behavioural Economics |
---|---|
Unit code | EFIM30027 |
Credit points | 20 |
Level of study | H/6 |
Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
Unit director | Dr. Koenig |
Open unit status | Not open |
Pre-requisites |
EFIM20008 Intermediate Economics 1 and either ECON20020 Econometrics or EFIM20010 Applied Quantitative Research Methods |
Co-requisites |
None |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
Modern economics has started to use models where economic decision making and action is not completely rational. This unit will consider theories of and evidence for such behaviour. The main topics covered in this course are: Prospect Theory, Time-Inconsistency, Non-standard beliefs, Economics of Happiness, Framing, Heuristics, Neuroeconomics, Emotions.
On successful completion of this unit a student will be able:
18 hours of lectures and 9 hours of classes.
Formative
Formative assessment will consist of two problem sets which students will submit.
Summative
Three-hour closed-book examination.
The exam paper addresses all the learning outcomes.
Specific readings – mainly journal articles – are provided at the beginning of the course. Some useful background readings on Behavioural Economics are: