Behavioural Economics (10084.1)
|Level:||Undergraduate Third Year Level|
|HECS Bands:||2, 3|
|Faculty:||Faculty of Business, Government & Law|
|Discipline:||School of Government & Policy|
To view your Unit Outline, click View to log in to MyUC and access this information, or visit your unit's online teaching site.
- Winter Term, 2018, ON-CAMPUS, BRUCE (178879) - View
- Winter Term, 2017, ON-CAMPUS, BRUCE (169693) - View
If a link to your Unit Outline is not displayed, please check back later. Unit Outlines are generally published by Week One of the relevant teaching period.
According to one of its founding authors, behavioural economics is 'economics done with strong injections of good psychology'. It incorporates into economic modelling the study of limitations to cognitive ability, the effects of social interaction, moral motivation, and emotional responses and works out implications for socio-economic welfare. It is informed by empirical findings in psychology, sociology, and economic experiments, and covers studies such diverse themes as compulsion (over-eating), tenacity, addictions (gambling), stereotyping (racism or sexism), time-inconsistent decisions, superstition, self-control and overconfidence. This field has emerged as an important area in modern economics and the social sciences more generally. Businesses have long known the limitations of individual decision making and they commonly use this knowledge in their commercial practices (e.g. in advertising, display strategies, and other ways of getting people?s attention). A good understanding of behavioural economics provides one with a powerful tool to better understand human decisions, a highly-valued skill in the market place.
On successful completion of this unit, students will be able to:
1. Become familiar with the most important issues and concepts in behavioural economics such as understanding habit-governed behaviour and cognitive illusions;
2. Understand the tools taught in class and be able to apply them to the analysis of real world situations;
3. Demonstrate specialised skills to explain patterns of behaviour and how they relate to standard economics assumptions; and
4. Demonstrate a basic understanding of the experimental method in economics and psychology.
UC - Canberra, Bruce
- Winter Term, 2018
- Winter Term, 2017
- 943AA Bachelor of Applied Economics
- 945AA Bachelor of Applied Economics/Bachelor of Commerce
- 944AA Bachelor of Applied Economics/Bachelor of Laws
- 946AA Bachelor of Applied Economics/Bachelor of Management
- 818AA Bachelor of Arts in International Studies/Bachelor of Commerce
- 798AA Bachelor of Arts/Bachelor of Commerce
- 762AA Bachelor of Commerce
- 231JA Bachelor of Commerce/Bachelor of Communication in Advertising
- 234JA Bachelor of Commerce/Bachelor of Communication in Media and Public Affairs
- 233JA Bachelor of Commerce/Bachelor of Communication in Public Relations
- 810AA Bachelor of Commerce/Bachelor of Laws
- 815AA Bachelor of Information Technology/Bachelor of Commerce
- 145JA Bachelor of Politics and International Relations/Bachelor of Applied Economics
- 147JA Bachelor of Politics and International Relations/Bachelor of Commerce