Economics

Behavioural Economics

Module code: L1083
Level 6
15 credits in spring semester
Teaching method: Lecture, Seminar
Assessment modes: Computer based exam, Coursework

During this module you will examine the psychological underpinnings of economic behaviour and examine recent theories and empirical results in behavioural economics. This forms the starting point in core economics modules and the dominant model of choice in economics, in which agents maximize expected utility given the information they possess and the choice set they have.

A growing body of empirical evidence has sought to challenge the assumption of individuals as rational economic agents; you will analyse this recent empirical evidence across a range of fields of economics and examine the new theories of economic behaviour.

Module learning outcomes

• Have demonstrated a systematic understanding of those principles at the forefront of economics as they relate to economic problems and issues
• Have demonstrated a systematic understanding of an appropriate number of specialised fields of economics (e.g. labour economics, development economics)
• Be able to use the power of abstraction to focus upon the essential features of an economic problem and to provide a systematic framework for the coherent and critical evaluation of the effects of policy or other exogenous events.
• Be able to analyse an economic problem or issue using an appropriate theoretical framework, recognise its limitations and appreciate uncertainties around such analyses.