Behavioural Economics (10084.1)

Please note these are the 2018 details for this unit
Home
/
Find your course
/
Behavioural Economics
Available teaching periods Delivery mode Location
View teaching periods
EFTSL Credit points Faculty
0.125 3 Faculty Of Business, Government & Law
Discipline Study level HECS Bands
Canberra School Of Politics, Economics And Society Level 3 - Undergraduate Advanced Unit Band 4 2021 (Commenced After 1 Jan 2021)
Band 4 2021 (Commenced After 1 Jan Social Work_Exclude 0905)
Band 5 2021 (Commenced Before 1 Jan 2021)
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.


Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development


Prerequisites

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

Corequisites

None.

Incompatible units

NONE.

Equivalent units

NO.

Assumed knowledge

None.
Year Location Teaching period Teaching start date Delivery mode Unit convener
Not available

Required texts

  • Erik Angner (2016) A Course in Behavioral Economics, 2nd Ed., Palgrave

Many examples and exercises will be drawn from the Angner textbook. The lectures draw from the lecturer's own notes (slides and annotated comments below slides) and from select chapters in the Angner text (see chapter references in section 3). It also draws occasionally and selectively from the following reference texts:

  • Edward Cartwright (2014) Behavioral Economics, 2nd Ed., Routledge
  • Nick Wilkinson and Matthias Klaes (2012) An Introduction to Behavioral Economics, 2nd Ed., Palgrave
  • Ananish Chaudhuri (2009) Experiments in Economics: Playing Fair with Money, Routledge

Submission of assessment items

Extensions & Late submissions

All orally-delivered components of major projects options 1 and 2 must start with group identification on the first slide:

  • Students' Name:
  • Students' ID:
  • Assessment Name: (option 1 or 2)
  • Title of major project:

All written components of the major project (options 1 , 2, 3) must be submitted online via the specifically created repositories on the Canvas site. 

The first page of all written submissions should include the following information:

  • Student Name:
  • Student ID:
  • Assessment Name: (option 1, 2, or 3)
  • Word Count:

Academic integrity

Students have a responsibility to uphold University standards on ethical scholarship. Good scholarship involves building on the work of others and use of others' work must be acknowledged with proper attribution made. Cheating, plagiarism, and falsification of data are dishonest practices that contravene academic values. Refer to the University's Student Charter for more information.

To enhance understanding of academic integrity, all students are expected to complete the Academic Integrity Module (AIM) at least once during their course of study. You can access this module within UCLearn (Canvas) through the 'Academic Integrity and Avoiding Plagiarism' link in the Study Help site.

Use of Text-Matching Software

The University of Canberra uses text-matching software to help students and staff reduce plagiarism and improve understanding of academic integrity. The software matches submitted text in student assignments against material from various sources: the internet, published books and journals, and previously submitted student texts.

Participation requirements

This face to face unit has no specific participation requirements but students are expected to attend seminar presentations and participate in discussions following each presentation.

Required IT skills

UC IT Entry skills

Work placement, internships or practicums

Not applicable