This course aims to teach students advanced techniques of behavioral economics, classical economics, and compare the two approaches. It focuses on the
This course aims to teach students advanced techniques of behavioral economics, classical economics, and compare the two approaches. It focuses on the principles and models of decision-making used by both streams of economists, as well as their consequences.
Upon successful completion, students will have the knowledge and skills to:On satisfying the requirements for this course, students should have the knowledge and skills to:
- Understand how behavioral economists think and approach advanced economic questions.
- Fully understand and be able to clearly express the advantages, disadvantages, criticisms and limitations of Behavioral Economics.
- Understand the tools taught in class and be able to recognise their application to the analysis of real world situations.
- Understand aspects of decision-making under uncertainty and solve analytical problems.
Indicative AssessmentThere will be a number of problem sets, and a final exam.
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Workload10 hrs (including 4 average contact hours in teaching weeks)
Requisite and Incompatibility
Preliminary ReadingAndrew Caplin and Andrew Schotter, editors, Foundations of Positive and Normative Economics: A Handbook OXFORD UNIVERSITY PRESS , 2008
Assumed KnowledgeThis course assumes a good knowledge of intermediate macroeconomics and more advanced microeconomics. It will also be assumed that students are reasonably familiar with mathematical tools and intermediate statistics. No other prior knowledge will be assumed.
Tuition fees are for the academic year indicated at the top of the page.
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- Student Contribution Band:
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
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