2019/20 Undergraduate Module Catalogue

LUBS3375 Behavioural Economics

10 creditsClass Size: 120

Module manager: Gabriel Burdin
Email: g.burdin@leeds.ac.uk

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2019/20

Pre-requisites

LUBS2140

Intermediate Microeconomics

This module is not approved as a discovery module

Module summary

This module aims to provide an introduction to core developments in Behavioural Economics. The module introduces analytical tools to understand an ample repertoire of human behaviours which remain unexplained by the basic neoclassical paradigm and situations in which that paradigm fails to provide accurate predictions. Abstract concepts and models will be illustrated by examples and laboratory experiments, and applied to a wide range of settings.

Objectives

This module aims to:
- Provide an introduction to behavioural economics, which integrates insights from psychology and economics
- Provide an introduction to the use of experiments in economics

Learning outcomes
On completion of this module, students will be able to:
- Assess the importance of psychological realism in economic analysis and policymaking
- Interpret evidence based on economic experiments, its implications, merits and limits
- Apply concepts drawn from behavioural economics to concrete social and economic problems

Syllabus

1. Behavioural economics: introduction
2. Decisions under risk and uncertainty: prospect theory
3. Intertemporal choice: time-inconsistency
4. Social preferences: reciprocity, inequity-aversion
5. Nonstandard beliefs: overconfidence, self-evaluation bias
6. Decision-making: framing, inattention, emotions
7. Endogenous preferences and policy implications

Teaching methods

Delivery type	Number	Length hours	Student hours
Class tests, exams and assessment	1	2.00	2.00
Lecture	10	1.00	10.00
Seminar	5	1.00	5.00
Private study hours			83.00
Total Contact hours			17.00
Total hours (100hr per 10 credits)			100.00

Private study

Private study will be supported by providing appropriate materials (problem sets, case-studies, applications) and opportunities for formative feedback, particularly during seminars and through scheduled course contact hours.

Opportunities for Formative Feedback

Students will make oral presentations in groups and solve problem sets during the course. This will provide extensive opportunities for formative feedback, particularly during seminars and through scheduled course contact hours.

Methods of assessment

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc) (S1)	2 hr 00 mins	100.00
Total percentage (Assessment Exams)		100.00

The resit for this module will be 100% by 2 hour examination.

Reading list

There is no reading list for this module

Last updated: 17/05/2019

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