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Behavioural Economics (10084.1)

Level: Level 3 - Undergraduate Advanced Unit
Credit Points: 3
HECS Bands:

Band 3 2013-2020 (Expires 31 Dec 2020) Band 4 2021 (Commenced After 1 Jan 2021) Band 5 2021 (Commenced Before 1 Jan 2021)

Faculty: Faculty of Business, Government & Law
Discipline: Canberra School of Politics, Economics and Society



    Unit Outlines

    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.

    Learning Outcomes

    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.

    Assessment Items

    Contact Hours

    150 learning hours per semester.


    Introduction to Economics, 6355, OR Foundations of Microeconomics, 9518.



    Assumed Knowledge


    Incompatible Units


    Equivalent Units


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