Unit Outline

Behavioural economics draws on insights and methods from psychology to better understand economic and business decisions. It takes economics beyond the traditional assumption of instrumental rationality, developing theories that more accurately explain and predict economic behaviour. Economic experiments are the main tool used by behavioural economists to test such theories and to investigate the underlying causes of individual and group decisions. This unit provides a hands-on coverage of experimental economics, its methods (including randomised controlled trials) and its real-world applications. It develops knowledge on how to design and conduct economic experiments as well as applying experimental economics to evaluate newly designed business strategies, public policies or nudge interventions.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Describe experimental economics and explain its role and scope in economics in general and behavioural economics in particular.
2.	Analyse and evaluate the advantages and disadvantages of the experimental method, and its appropriateness to study different economic issues.
3.	Test and evaluate behavioural economics interventions aimed at addressing industry and policy challenges.

Alterations as a result of student feedback

To Be Determined

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Reflection	Week 7	30 %	LO1, LO2
Assessment Task 2:	Mid-semester test	Week 9	20 %	LO1, LO2
Assessment Task 3:	Assignment	Week 13	50 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Reflection

Task Description:

This is an individual task where you will be required to write a reflective essay based on your participation in a mock economic experiment in Tutorial 2 (Week 4). You will be asked to reflect on certain features of the experimental design as well as potential ethical issues.
Detailed guidelines and instructions will be posted on MyLO.

Task Length:

2,000 words

Due Date:

Week 7

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Critical reflection of the required features of the learning experience.	LO2
2	Makes connection of the earning experience to the relevant unit learning material.	LO1
3	Engaged with unit material by Identifying and applying relevant concepts.	LO2
4	Communicated clearly, cogently, and carefully.	LO1

Assessment Task 2: Mid-semester test

Task Description:

Test covering all material from Weeks 1 – 7. The assessment will contain several questions (each question may have multiple parts). The assessment will be conducted online on MyLO. The test will be open for 24 hours.

Detailed guidelines and instructions will be posted on MyLO.

Task Length:

Students have a 24 hour window in which to start the test. Students have 120 minutes to complete the test once started.

Due Date:

Week 9

Weight:

20 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Describe and explain the behavioural approach to economic thinking and the main methods of enquiry in behavioural economics.	LO1
2	Analyse the advantages, disadvantages and limitations of experimental economics.	LO2
3	Describe the experimental method, and explain the key features of experimental design and implementation.	LO1

Assessment Task 3: Assignment

Task Description:

The United Nation’s 17 Sustainable Development Goals (SDGs) address the most important economic, social, environmental and governance challenges of our time. Choose an appropriate real-world issue or problem based on one or more of these SDGs and write a research essay applying experimental economics to this issue or problem. The essay will essentially be a proposal for an original experiment addressing your chosen issue or problem. Detailed guidelines and instructions will be posted on MyLO. Time will be allocated during the tutorials after the mid semester break to discuss developing your essay, so you will have guidance throughout.

Task Length:

2,500 words

Due Date:

Week 13

Weight:

50 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explained how the SDG goal-oriented issue can be addressed by behavioural and experimental economics.	LO3
2	Analyse the issue or problem with thorough and logical reasoning supported by evidence.	LO3
3	Use and connect analysis to the relevant Behavorial economic concepts.	LO1
4	Describe the key advantages, disadvantages and limitations of the behavioural approach applied.	LO2
5	Communicate clearly, cogently, and carefully, within the word limit, and includes all components indicated in the instructions.	LO1

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

There is no one prescribed textbook for this unit. Your unit coordinator will collate readings from various sources for you. Each topic in the unit will have its own reading list which can be found on MyLO. Required articles and chapters can be downloaded electronically via the UTAS library or found on Google Scholar. The reading list for each topic will consist of essential and optional readings. At the very least, students are expected to read the essential readings (around 3-5 pieces per topic).