This course aims to teach students some techniques of behavioural economics, classical economics, and compare the two approaches. It focuses on the principles and basic models of decision-making used by both streams of economists, as well as their consequences.

Learning Outcomes

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 behavioural economists think and approach economic questions.

- Fully understand and be able to clearly express the advantages, disadvantages, criticisms and limitations of Behavioural 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 simple analytical problems.

Research-Led Teaching

Theory and applied examples covered in the course are derived from research in the field of Psychology and Economics. In addition, students will have the opportunity to use the provided extra resources for each topic to deepen their understanding and getting first-hand experience with research papers.

Examination Material or equipment

No materials permitted in the exam.

Recommended Resources

Unfortunately, there is no perfect textbook in psychology and economics. Therefore, the only required material for the course is a set of relatively detailed lecture notes in form of slides and summaries for each topic.

There is no specific textbook. Possible supplementary readings, which we will NOT follow very closely are:

·      Erik Angner, A course in behavioral economics

·      Nick Wilkinson and Matthias Klaes An Introduction to Behavioral Economics 2^nd Edition

· David Just Introduction to behavioral economics 

These books are available in the Chifley Library.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Written comments
• Verbal comments
• Feedback to the whole class, to groups, to individuals, focus groups

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction - Themes in psychology and economics
2	Reference-Dependent Preferences - Kahneman and Tversky’s classic experiments and Prospect theory.
3	Reference-Dependent Preferences - Market implications	Problem Set 1
4	Intertemporal Choice - Samuelson’s exponential-discounting mode
5	Intertemporal Choice - Self-control problems and hyperbolic discounting
6	Intertemporal Choice - Harmful substances and government policy	Problem Set 2
7	Intertemporal Choice - Misperception of utility	Mid-semester Exam
8	Heuristics and biases
9	Malleability and Inaccessability of Preferences	Problem Set 3
10	Social Preferences - Distributional Preference
11	Social Preferences - Face Saving Concerns and Fairness Preferences	Problem Set 4
12	Behavioral Game Theory

Tutorial Registration

You are expected to attend one tutorial each week from Week 2 onward. You must enrol in a tutorial

using the Wattle site for this course, and attend the tutorial in which you are enrolled. A selection of

tutorials will be open for enrolment prior to the beginning of the semester - the remaining tutorials will

be open in week 1 of Semester. When tutorials are available for enrolment, follow these steps:

1.  Log on to Wattle, and go to the course site

2.  Click on the link “Tutorial enrolment”

3.  On the right of the screen, click on the tab “Become Member of…..” for the tutorial class you wish to

enter

4.  Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group….”

and then re-enrol in another group. You will not be able to enrol in groups that have reached their

maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Problem sets	20 %	29/07/2019	31/10/2019	1,2,3,4
Midsemester exam	40 %	26/08/2019	30/09/2019	1,2,3,4
Final Exam	40 %	31/10/2019	25/11/2019	1,2,3,4

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

This is an on-campus course. Attendance at all teaching events, while not compulsory, is expected in line

with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

 In addition, tutorials are a discussion-based class. Providing worked solutions would not effectively

compensate for missing a tutorial. Students who, through unavoidable and unplanned occurrences, are

unable to attend a tutorial class one week are encouraged to work through the problems and attend a

consultation session for discussion and solutions.

Assessment Task 1

Problem sets

The course will rely heavily on problem sets. There will be 4 problem sets during the semester. They will be graded and count as a small part of your grade (5% each) to make sure you pay them the attention necessary as they are a important teaching source of the course. They will include mathematical problems and questions on the interpretation of those problems in the light of the course, as well as some questions asking you to apply the material to economic issues. You are strongly encouraged to work on them together in small groups. BUT: even if you work with others, you have to write up the solutions on your own, using your own words and understanding! Questions will be available 2 weeks prior to the submission due date. Students will have to submit their answers to the problem set via Turnitin by the date and time given for each problem set. Feedback on the problem set will be given within 2 weeks.  Further details will be given in lecture.

Assessment Task 2

Midsemester exam

A mid-semester Exam will be held during the ANU mid-semester exam period - (week 6 and week 7). The exam will cover material presented throughout the first half of the semester. The 90 minute mid-semester exam is compulsory and will count 40% of the final grade. Further details will be given in lectures by week 5 or 6.

Assessment Task 3

Final Exam

A final Exam will be held during the ANU final exam period. The exam will cover material presented in the second half of the semester. The 90 minute final exam is compulsory and will count 40% of the final grade. Further details will be given in lectures in the last week of classes.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website. The online submitted assignments via Turnitin do not need a Assignment Cover Sheet.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

The graders will endeavour to return your assignments one week after the submission date and before the submission deadline for the following assignment.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students