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ES50117: Applied behavioural economics

[Page last updated: 02 August 2022]

Academic Year: 2022/23
Owning Department/School: Department of Economics
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Masters UG & PG (FHEQ level 7)
Period:
Semester 2
Assessment Summary: CW 30%, EX 70%
Assessment Detail:
  • Coursework (CW 30%)
  • Exam (EX 70%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
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.

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.

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.

Programme availability:

ES50117 is Optional on the following programmes:

Department of Economics

Notes:

  • This unit catalogue is applicable for the 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
  • Programmes and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.