2018/19 Taught Postgraduate Module Catalogue
LUBS5144M Behavioural Economics
15 creditsClass Size: 100
Module manager: Gabriel Burdin
Taught: Semester 2 View Timetable
Year running 2018/19
This module is not approved as an Elective
Module summaryBehavioural Economics studies important deviations from the standard neoclassical model in terms of preferences, beliefs and decision-making. The aim of this module aims to provide an introduction to foundational concepts and theories in Behavioural Economics and their application to core issues in organisational economics and the theory of the firm (pay, incentives, authority, matching).
ObjectivesThis module aims to:
- Introduce students to foundational concepts and theories of behavioural economics and their application to organisational economics.
- Provide an introduction to the use of experiments in economics, including both laboratory experiments and field experiments with firms.
On completion of this module, students will be able to:
- Critically evaluate key theoretical and empirical tools of modern behavioural economics.
- Apply concepts drawn from behavioural economics to answer core questions in organizational economics (pay, incentives, authority, job design).
- Read, evaluate and synthesise state-of-the art research in the field.
Part I: Foundations
1.1 Nonstandard preferences: Reference-dependent preferences, time-inconsistency, social preferences
1.2 Nonstandard beliefs: overconfidence
1.3 Nonstandard decision-making, emotions.
Part II: Behavioural economics of organisations
2.1 Economic organisation: core issues
2.2 Pay and incentives
2.3 Allocation of authority and power, control, delegation.
2.4 Peer effects and team production
2.5 Matching workers and organizations
|Delivery type||Number||Length hours||Student hours|
|Private study hours||134.00|
|Total Contact hours||16.00|
|Total hours (100hr per 10 credits)||150.00|
Private studyPrivate study will be supported by requiring students to locate and read journal articles. It will also occur via providing sets of practice questions. These also present opportunities for formative feedback, particularly during seminars and through academic support hours.
Opportunities for Formative FeedbackStudents will make oral presentations in groups and work on sets of practice questions during the course. This will provide extensive opportunities for formative feedback, particularly during seminars and through academic support hours. Part of the formal assessment will be based on a written referee report on assigned research papers (see below). Students will have the opportunity of receiving formative feedback on mock "referee reports" of short research papers distributed by the instructor.
Students will form groups and present research papers during seminars. This is a formative assessment, but will be formally assessed in one specific exam question. Practice questions will be distributed during the course to facilitate exam preparation for students. Students’ progress in their command of theoretical concepts and applications will be monitored in seminars and through academic support hours. This will permit identification of struggling students and provisions of guidance and detailed feedback.
Methods of assessment
|Assessment type||Notes||% of formal assessment|
|Report||Referee report, 1,500 words||30.00|
|Total percentage (Assessment Coursework)||30.00|
Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated
|Exam type||Exam duration||% of formal assessment|
|Standard exam (closed essays, MCQs etc)||2 hr||70.00|
|Total percentage (Assessment Exams)||70.00|
Resit for this module will be 100% examination.
Reading listThe reading list is available from the Library website
Last updated: 30/04/2018
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