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Behavioural Economics (ECON30019)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Year of offer2017
Subject levelUndergraduate Level 3
Subject codeECON30019
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

This subject introduces students to empirical research demonstrating economically important patterns of behaviour that violate standard rationality assumptions, and to theorectical research aimed at capturing these behavioural patterns in tractable models. Most of the semester will be devoted to behavioural aspects of individual decision making, such as temptation and present-biased preferences, prospect theory, reference-dependent preferences, and over-confidence. We will also cover happiness research and behavioural public economics. This subject can be profitably taken alongside ECON30022, which in addition to the design of experiments also covers behavioural aspects of strategic interaction.

Intended learning outcomes

  • Explain behavioural patterns uncovered in behavioural economics and how they relate to standard economics assumptions.
  • Explain formal models developed by behavioural economists to tractably capture such findings.
  • Evaluate the contribution of behavioural economics to economic knowledge.

Generic skills

  • High level of development: written communication; application of theory to practice; critical thinking; synthesis of data and other information; evaluation of data and other information.

  • Moderate level of development: oral communication; problem solving; interpretation and analysis; accessing data and other information from a range of sources; receptiveness to alternative ideas.

  • Some level of development: collaborative learning; team work; statistical reasoning; use of computer software.

Eligibility and requirements


Code Name Teaching period Credit Points
ECON20002 Intermediate Microeconomics
Summer Term
Semester 1



Non-allowed subjects


Recommended background knowledge

Please refer to Prerequisites and Corequisites.

Core participation requirements

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home



  • A 2-hour end-of-semester examination (65%),
  • Assignments equivalent to 2500 words, due in weeks 4, 6, 8 and 10 (20%),
  • Tutorial presentation (10%)
  • Class participation (5%)
  • To pass this subject students must pass the end of semester examination.

Dates & times

  • Semester 2
    Principal coordinatorGuy Mayraz
    Mode of deliveryOn Campus — Parkville
    Contact hoursThree hours of lectures and seminars per week
    Total time commitment170 hours
    Teaching period24 July 2017 to 22 October 2017
    Last self-enrol date 4 August 2017
    Census date31 August 2017
    Last date to withdraw without fail22 September 2017
    Assessment period ends17 November 2017

    Semester 2 contact information

Time commitment details

170 Hours

Further information

Last updated: 18 July 2019