This course aims to teach students advanced techniques of behavioral economics, classical economics, and compare the two approaches. It focuses on the
Behavioural economics refers to the research program that attempts to incorporate more realistic psychological foundations into models of economic behaviour. 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 behaviour. But, more recently, behavioural economics is finding its way into policy evaluation and normative economic analysis as well. This course explores some of the advances in this field. We will study foundational topics in behavioural economics, with a focus on theories of behaviour that aim to incorporate non-standard phenomena into classic economic models, with consideration of intertemporal decision-making, choice under uncertainty, and learning.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an in-depth understanding of what the behavioural economics program is and how it differs from classical economic analysis;
- demonstrate an in-depth understanding of the methods used in behavioural economics, along with their advantages and disadvantages;
- describe and interpret the latest findings from behavioural economics research, demonstrating an understanding of how they translate into individual behaviour and apply them to public policy questions;
- demonstrate an in-depth understanding of the main theoretical and empirical debates in behavioural economics and evaluate the contribution of behavioural economics to broader economic knowledge, as well as other areas.
Indicative Assessment
- Assessment will consist of at least two distinct items that might be drawn from a final exam, a mid-semester exam, quizzes, and assignments. 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
There are no inherent requirements.
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 |
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.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
Second Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 10026 | 26 Jul 2027 | 02 Aug 2027 | 31 Aug 2027 | 29 Oct 2027 | In Person | N/A |