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2023/24 Undergraduate Module Catalogue

LUBS3375 Behavioural Economics

10 creditsClass Size: 240

Module manager: Gabriel Burdin

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2023/24


LUBS2140Intermediate 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.


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


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 typeNumberLength hoursStudent hours
Private study hours85.00
Total Contact hours15.00
Total hours (100hr per 10 credits)100.00

Private study

This could include a variety of activities, such as reading, watching videos, question practice and exam preparation.

Opportunities for Formative Feedback

Your teaching methods could include a variety of delivery models, such as face-to-face teaching, live webinars, discussion boards and other interactive activities. There will be opportunities for formative feedback throughout the module.

Methods of assessment

Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)2 hr 00 mins100.00
Total percentage (Assessment Exams)100.00

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

Reading list

There is no reading list for this module

Last updated: 28/04/2023 14:49:15


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