Unit Outline
BEA707
Behavioural Economics
Semester 1, 2024
Robert Hoffmann
Tasmanian School of Business & Economics (TSBE)
College of Business and Economics
CRICOS Provider Code: 00586B
Unit Coordinator
Robert Hoffmann
Email: robert.hoffmann@utas.edu.au
What is the Unit About?
Unit Description
 
This unit provides you with an introduction to behavioural economics. Behavioural economics is a discipline at the intersection of economics and psychology that draws on insights and methods from the social sciences to understand better how people actually make decisions. The aim of this unit is not to be mathematically or theoretically thorough. Rather, it focuses on developing a better understanding of how human psychology affects our decisions and how such knowledge can be applied to real world business and policy issues, including to the nudge agenda. You will also be exposed to methods of enquiry used in behavioural economics, in particular, economic experiments and randomised controlled trials, their real-world applications and the insights they generate. You will develop knowledge and skills to design and conduct such experiments and trials as well as to evaluate newly designed business strategies, public policies and 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.
Explain and reflect on core concepts in behavioural economics and their impact on individual and group decision-making
2.
Analyse social and economic challenges in different contexts to propose behavioural solutions using behavioural economics concepts and theories
3.
Design interventions based on behavioural solutions, applying behavioural economics methods
4.
Communicate evidence-based behavioural solutions to different stakeholder groups
Alterations as a result of student feedback
To Be Determined
 
 
Teaching arrangements
ATTENDANCE MODE
TEACHING TYPE
LEARNING ACTIVITY
CONTACT HOURS
FREQUENCY
On Campus
Workshop
Introductory 1-hr workshop, Week 1
1
Once only
Lecture (On Campus)
Pre-recorded 1-hr lecture, once a week
1
Weekly
Workshop
Three 4-hr workshops, monthly, commencing in Week 2
4
1 time per month
Other
5-hrs independent learning
5
Weekly
Online
Online Class
Introductory 1-hr workshop, Week 1
1
Once only
Independent Learning
Pre-recorded 1-hr lecture, once a week
1
Weekly
Online Class
1-hr workshop, weekly, commencing in Week 2
1
Weekly
Independent Learning
5-hrs independent learning
5
Weekly
Attendance / engagement expectations
If your unit is offered On campus, it is expected that you will attend all on-campus and onsite learning activities. This is to support your own learning and the development of a learning community within the unit. If you are unable to attend regularly, please discuss the situation with your course coordinator and/or our UConnect support team.

If your unit is offered Online, it is expected you will engage in all those activities as indicated in the Unit Outline, including any self-directed learning.

If you miss a learning activity for a legitimate reason (e.g., illness, carer responsibilities) teaching staff will attempt to provide alternative activities (e.g., make up readings) where it is possible.
 
The Tasmanian School of Business and Economics regularly hosts Masterclasses and Industry Engagement and Employability Events, which students are encouraged to attend. Registration and details will be available via the College of Business and Economics channel on the Uni App and/or via your Unit Coordinator.
 
 
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:
Reflective Assignment
See the MyLO site for the due date
30 %
LO1, LO2, LO3, LO4
Assessment Task 2:
Tests
Week 5
30 %
LO1, LO2
Assessment Task 3:
Analytical Assignment
Week 12
40 %
LO1, LO2, LO3, LO4
 
Assessment details
    
Assessment Task 1: Reflective Assignment
Task Description:
This is an individual assignment where students will be required to write a reflective essay based on their participation in a mock economic experiment. Based on their experience during participation, students will be asked to reflect on certain features of the experimental design as well as potential ethical issues.

The details of the assignments will be posted on the MyLO website.

Task Length:
1500 words
Due Date:
See the MyLO site for the due date
Weight:
30 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Reflect on the key insights from the mock experiment based on the understanding of behavioural economics concepts.
LO1, LO2
2
Recommend behavioural solutions by applying behavioural economics methods.
LO3
3
Communicate evidence-based behavioural solutions.
LO4
 
Assessment Task 2: Tests
Task Description:
One Online quiz: contains multiple choice questions to be answered in 60 minutes in week 5 (examinations will open for a whole week). The online quiz is an invigilated test using the Respondus Lockdown Browser on MyLO. This test includes both theoretical and numerical questions in the form of multiple-choice questions. The quiz covers topics from weeks 1 to 4.

The details of the quiz will be posted on the MyLO website.

Task Length:
Multiple choice questions in 75 minutes
Due Date:
Week 5
Weight:
30 %
 
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Identify the behavioural approach to economic thinking and the implications of applying a behavioural lens to economic analysis.
LO1
2
Apply appropriate behavioural economic concepts to choose best solutions.
LO1, LO2
3
Determine appropriate decisions based on analysis of behavioural economics concepts.
LO2
 
Assessment Task 3: Analytical Assignment
Task Description:
This is an individual task where students be required to write an analytical essay applying behavioural economics concepts to analyse and then propose solutions to a real-world issue of their own choosing.

The details of the assignments will be posted on the MyLO website

Task Length:
2000 words
Due Date:
Week 12
Weight:
40 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Analyse social and economic challenges using appropriate behavioural economics concepts to discover the behavioural roots of these challenges.
LO1, LO2
2
Recommend solutions to these challenges based on the understanding of behavioural economics concepts.
LO2
3
Evaluate these solutions by applying behavioural economics methods.
LO3
4
Communicate evidence-based behavioural solutions.
LO4
 
 
 
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.
 
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.