Experimental and Behavioural Economics

Code	School	Level	Credits	Semesters
ECON2025	Economics	2	10	Spring Malaysia

Code: ECON2025
School: Economics
Level: 2
Credits: 10
Semesters: Spring Malaysia

Summary

This module provides a foundation in behavioural economics and the role of experimental methods in economics. The traditional approach in economics is to explain market outcomes and economic decision-making using simple theoretical models based on perfectly rational, self-interested agents who maximise their well-being by carefully weighing up the costs and benefits of different alternatives. Behavioural economics, on the other hand, aspires to relax these stringent assumptions and develop an understanding of how real people actually make decisions. The module will introduce students to behavioural and experimental economics, discuss these fields from a methodological perspective and examine several areas of economic analysis in which they are applied. This will include individual choice under risk and uncertainty, decision-making in strategic situations and competition in markets.

Target Students

Available to all students who have the appropriate co-requisites. Available to JYA/Erasmus students.

Classes

One 1-hour tutorial each week for 3 weeks
One 2-hour lecture each week for 10 weeks

Assessment

25% Coursework 1: Problem Set
75% Exam 1 (1-hour-30-minute): 1.5 hour examination

Assessed by end of spring semester

Educational Aims

The module aims:To engender thinking about economics as an empirical science and what that entails.To introduce students to attempts to relax conventional assumptions such as unlimited rationality and own-payoff maximisation.To provide a foundation knowledge relating to the design and implementation of appropriate experimental tests of economic theories.To engender presentation and communications skills.

Learning Outcomes

Knowledge and Understanding

A1 Demonstrate a broad knowledge of core areas of economics

A3 Show understanding of analytical methods, both theory- and model-based.

A4 Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.Intellectual skills

B2 work with abstract concepts and in a context of generality

B3 reason logically and work analytically Professional/Practical Skills

C1 develop appropriate economic models

C3 justify conclusions using economic arguments with appropriate rigourTransferable/Key Skills

D2 communicate effectively and clearly in written and oral formats

D4 show that they can work effectively in a team

D5 undertake independent study of a problem or subject.

Conveners

Dr Rasyad Parinduri

View in Curriculum Catalogue

Last updated 09/01/2025.