| 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. Almeida Couri Ribeiro |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
OR OR |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
Increasingly, economists are appealing to models of behaviour from psychology to improve their understanding of why economic agents behave in the way that they do. This unit will provide students with the foundations of modern behavioural economics, and allow them to develop their understanding beyond the assumptions of traditional microeconomics.
How does this unit fit into your programme of study?
This unit builds on the microeconomics you have learnt in the first two years of your degree, and you will use your econometrics training to review empirical studies in the field of behavioural economics.
Overview of content
We study models and techniques that have been used to improve on the psychological and institutional foundations of canonical models in Economics. This unit will consider these models and techniques, and how they can better account for the existing evidence regarding human behaviour. The main topics covered in this course are: Prospect Theory, Time-Inconsistency, Beliefs, Other-regarding preferences, Welfare and Happiness, Framing, Heuristics and Biases, and Neuroeconomics.
How will students, personally, be different as a result of this unit?
Students will develop an understanding of the inter-disciplinarity of economics and psychology, and will be able to better analyse the behaviour of individuals.
Learning Outcomes
Students will be able:
Teaching will be delivered through a combination of large and small group classes, supported by online resources.
Tasks which help you learn and prepare you for summative tasks (formative):
One formative assessment to be submitted. This is a mock test that will help students prepare for the summative assessment.
Tasks which count towards your unit mark (summative):
When assessment does not go to plan
Normally, there are no opportunities for reassessment in final-year units. Where students are taking this unit as a non final-year unit (such as an MSci), or where there are validated exceptional circumstances:
If students fail the unit such that credit points cannot be awarded at the first attempt, they will be given a reassessment to replace the failed element(s).
These elements will be;
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIM30027).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
