EC989: Behavioural Economics
Lory Barile
Module Leader
Introduction
EC989-15 Behavioural EconomicsPrincipal Aims
To broaden students' knowledge of how psychological and experimental findings influence economic modelling, especially in relation to preferences and judgement in situations involving risk and time. To broaden students' knowledge of the way models and theories are empirically or experimentally tested.
Principal Learning Outcomes
Subject Knowledge and Understanding:...demonstrate knowledge of the main theoretical and empirical debates in Behavioural Economics.
Subject Knowledge and Understanding:...demonstrate an understanding of concepts including prospect theory, other-regarding preferences, hyperbolic discounting, the economics of happiness, behavioural finance and neuroeconomics.
Subject Knowledge and Understanding:...understand the way in which Behavioural Economics has developed and how it can be related to traditional rational agent-based models in Economics.
Subject Knowledge and Understanding:...assess the strengths and weaknesses of different theories of Economic Behaviour.
Subject-specific skills/Professional Skills:...demonstrate an ability to use empirical tools to analyse problems in Behavioural Economics.
Syllabus
The syllabus may cover, but is not limited to, the following areas:
鈥� Effect of reference dependent preferences, loss aversion, present bias and social preferences, in the labour, in the financial and in other important markets.
鈥� The relationship between choice utility and subjective wellbeing.
鈥� Effect of macroeconomic variables on subjective wellbeing.
The course will have an emphasis on the empirical identification of the different models, but it does not require an advanced econometric knowledge.
Context
- Optional Module
- C8P7 - Year 1, C8P8 - Year 1, L1P7 - Year 1, L1P6 - Year 1, L1I1 - Year 1
- Pre or Co-requisites
- Basic knowledge of econometrics and microeconomics theory.
Assessment
- Assessment Method
- Centrally-timetabled examination (On-campus) (100%)
- Coursework Details
- Centrally-timetabled examination (On-campus) (100%)
- Exam Timing
- May