Behavioural Economics and Finance
| Code | School | Level | Credits | Semesters |
| BUSI3038 | Business | 3 | 10 | Spring UK |
- Code
- BUSI3038
- School
- Business
- Level
- 3
- Credits
- 10
- Semesters
- Spring UK
Summary
In this module, the aim is to provide students with an understanding of methods, results and models of behavioural economics and behavioural finance. We will talk about experiments and their importance in several fields. Within this context we will cover topic such as: how to design an experiment, asset markets, labour markets, social dilemmas, bargaining, contests, behavioural finance, market structure and risk. You will learn how to design your own experiment and how to interpret empirical results.
Studying this module should contribute to your knowledge and understanding of markets. How humans behave in markets will be the major topic. Further, the module will help to develop the ability to think critically and be creative, the ability to solve complex problems and make decisions, the ability to use information and knowledge effectively as well as quantitative skills. In addition, the module should develop practical skills such as the ability to conduct research into business and management issues through research design, synthesis and reporting and key transferrable skills including listening, effective oral and written communication of complex ideas and arguments, critical self-reflection, self-management and time management.
Target Students
Available to Y2 & Final Year UGstudents who have taken/are taking BUSI1100 OR BUSI1114 OR BUSI1095 OR BUSI1107 OR BUSI1117 OR BUSI1097 OR BUSI1106 OR BUSi1115.Cannot take if taking or have taken ECON3085 OR ECON2011 OR ECON2043 OR ECON2025 OR ECON3028 OR ECON3079. Not available to students from the School of Economics. Available to Exchange Students.
Co-requisites
Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:
- Introduction to Economics (BUSI1095)
- Economic Principles (BUSI1097)
- Business Economics (BUSI1100)
- Economic Principles (BUSI1106)
- Introduction to Economics (BUSI1107)
Classes
- One 1-hour seminar each week for 2 weeks
- One 2-hour lecture each week for 11 weeks
Lecture - 11 weeks - 1 week - 2 hours Seminar - 2 weeks - 1 week - 1 hour
Assessment
- 100% Exam (1-hour-30-minute): In-person Exam.
Assessed by end of spring semester
Educational Aims
This module is aimed at giving students an understanding of behaviour in an economic context.Learning Outcomes
Knowledge and understanding
This module develops a knowledge and understanding of:
- The dynamic and changing nature of business and the consideration of the future of organisations within the global business environment, including the management of risk
- The design, development of organisations, including cross-cultural issues, change, diversity and values
Intellectual skills
This module develops:
• The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
• Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills
This module develops:
• Numeracy and quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena
• Self-analysis and awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetitie for development.
Transferable (key) skills
This module develops:
• Ability to work with people from a range of cultures