Unit Outline

Traditional economics portrays decision making as rational deliberation that computes optimal choices based on well-defined objectives and perfect information. In reality, limited information and cognition as well as certain features of the human psychology often result in decisions that deviate from this assumption. Behavioural economics attempts to explain these deviations using insights and theories from the other social sciences, in particular psychology. This unit introduces students to this intersection of economics and psychology. Its aim is not to be mathematically or theoretically thorough. Rather, it focuses on developing a better understanding of how human psychology affects economic decisions and how such knowledge can be applied to real world business and policy issues, including to nudge.

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 key concepts and methods in behavioural economics and explain their significance in economics.
2.	Apply behavioural economic concepts and theories to examine real-world problems in different contexts.
3.	Explain and assess the role of behavioural economics in public, social and business policy.
4.	Communicate key concepts and applications of behavioural economics clearly and cogently.

Requisites


REQUISITE TYPE	REQUISITES
Anti-requisite (mutual excl)	XPD114

Alterations as a result of student feedback

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	See the MyLO site for the due date	30 %	LO1, LO2, LO4
Assessment Task 2:	Analysis	See the MyLO site for the due date	40 %	LO1, LO2, LO3, LO4
Assessment Task 3:	Test	Week 13	30 %	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 learning experience of participating in a series of online decision tasks and survey questions. Detailed instructions will be posted on MyLO.

Task Length:

Up to 1,500 words

Due Date:

See the MyLO site for the due date

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Response demonstrates in-depth reflection on and self-critical personalisation of the learning experience.	LO2
2	Response correctly connects the learning experience to the relevant unit material.	LO2
3	Response demonstrates a thorough understanding of and genuine engagement with the relevant unit material.	LO1
4	Response is communicated clearly, cogently and carefully, within the word limit, and includes all components indicated in the instructions.	LO4

Assessment Task 2: Analysis

Task Description:

This is an individual task where you will be required to write an analytical essay applying behavioural economics concepts to analyse and then propose solutions to a real-world issue of your own choosing. Detailed instructions will be posted on MyLO.

Task Length:

Up to 2,000 words

Due Date:

See the MyLO site for the due date

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Response demonstrates in-depth analysis of the chosen issue, with thorough and logical reasoning supported by insightful and well-evidenced arguments.	LO3
2	Response appropriately draws on and correctly connects analysis to the relevant unit material.	LO2
3	Response demonstrates a thorough understanding of and genuine engagement with the relevant unit material.	LO1
4	Response is communicated clearly, cogently and carefully, within the word limit, and includes all components indicated in the instructions.	LO4

Assessment Task 3: Test

Task Description:

This is a 2-hour open-book test, covering all material from Weeks 1 – 11. The test will take place online on MyLO. The test will be open for a 24-hour period. You can start the test anytime within this period, but once you start, you have 2 hours to complete (with a short grace period). Detailed instructions will be posted on MyLO.

Task Length:

2 hours

Due Date:

Week 13

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Response demonstrates correct and thorough understanding of the unit material.	LO1
2	Response demonstrates appropriate application of the unit material.	LO2
3	Response demonstrates correct analysis and well-evidenced arguments based on the unit material.	LO3

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.