This course aims to teach students advanced techniques of behavioral economics, classical economics, and compare the two approaches. It focuses on the
Behavioral economics refers to the research program that attempts to incorporate more realistic psychological foundations into models of economic behavior. It initially started by drawing experimental evidence and insights from psychology and other social sciences suggesting the standard model of rational decision-making provides an inadequate description of behavior. But, more recently, behavioral economics is finding its way into policy evaluation/normative economic analysis as well. This course explores some of the advances in this field. We will study foundational topics in behavioral economics, with a focus on theories of behavior that aim to incorporate non-standard phenomena into classic economic models, with consideration of intertemporal decision-making, choice under uncertainty, and learning.
The course will be centered around research paper discussions, allowing students to develop the critical skills necessary to evaluate and put in practice the latest research findings in the field of Behavioral Economics. Students will have the opportunity to shape the structure of the course by choosing specific readings within each topic.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an in-depth understanding of what the Behavioral Economics program is and how it differs from classical economic analysis;
- demonstrate an in-depth understanding of the methods used in Behavioral Economics, the advantages, disadvantages, criticisms, and limitations;
- describe and interpret the latest findings from Behavioral Economics research, demonstrating an understanding of how they translate into individual behavior and apply them to public policy questions;
- demonstrate an in-depth understanding of the main theoretical and empirical debates in Behavioral Economics and evaluate the contribution of Behavioral Economics to broader economic knowledge, as well as other areas.
Indicative Assessment
- Assessment will consist of a Final Exam, mid-semester exam(s), quizzes, assignment or some combination thereof. See the Class Summary for details. (100) [LO 1,2,3,4]
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Workload
130 hours in total over the semester consisting of lectures, tutorials and private study time.
Inherent Requirements
Not applicable
Requisite and Incompatibility
Prescribed Texts
See Class Summary
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you 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). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 34
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee | Description |
|---|---|---|
| 2023 | $4560 | Standard Rate |
| 2023 | $3600 |
Grandfathered Rate*
*continuing students in nominated programs only. See fee website |
- International fee paying students
| Year | Fee |
|---|---|
| 2023 | $5820 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
