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ES50117: Applied behavioural economics

[Page last updated: 15 October 2020]

Follow this link for further information on academic years Academic Year: 2020/1
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period:
Semester 2
Further information on unit assessment Assessment Summary: CW 100%
Further information on unit assessment Assessment Detail:
  • Coursework 1 (CW 20%)
  • Coursework 2 (CW 80%)
Further information on supplementary assessment Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites:
Description: Aims:
The aim of the Unit is to present a rigorous account of the material that relates to two independent but related areas: behavioural economics and neuroeconomics. Students will gain a critical appreciation of the theoretical tools used in these relatively new but increasingly important areas of economics. This unit contains applications to a variety of applied economic contexts.

Learning Outcomes:
By the end of this unit, the student should be able to understand:
* the way in which experiments have confirmed or cast doubt on some major propositions from economic theory, e.g. Decision making under uncertainty;
* the development and use of behavioural economic models to rival those standard in neoclassical economics, e.g. Consumer theory;
* the 'apparent' workings of the brain when making 'economic' decisions, e.g. Evidence from fMRI scans; and
* the public policy relevance of this more empirically based type of economic actor

Skills:

* Using deductive reasoning in abstract models;
* Applying theory to specific contexts;
* Synthesising relevant material and debates

Content:
The unit emphasises debate at the theoretical and empirical level by contrasting the prescriptions and findings of conventional neoclassical economics with those which support a more inductive based theorising and laboratory investigation of economic theories. Specific topics include: individual choice and decision making under uncertainty; strategic interaction between behavioural agents; markets with behavioural consumers; the role of the public sector with behavioural actors, neuroeconomics.
Further information on programme availabilityProgramme availability:

ES50117 is Optional on the following programmes:

Department of Economics

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