|Year of offer||2017|
|Subject level||Undergraduate Level 3|
|Fees||Subject EFTSL, Level, Discipline & Census Date|
Experimental Economics is a branch of economics that uses controlled experiments to evaluate theories and behavioural assumptions, as well as to test policies and their implementation. The subject will introduce students to experimental methods as applied in economics and present key findings from laboratory and field experiments. The first lecture in most weeks will be devoted to running experiments where students will experience different economic situations. The second lecture will present the theories underlying the experimental games and will use the experimental data from the first lecture (as well as other experimental data) as a vehicle for discussion. By comparing actual individual behaviour to the theoretical predictions, the course aims to provide a deep understanding of individual behaviour and how economic science progresses. Topics that will be covered may include risk, time, and social preferences, trading in a variety of markets such as auction and markets with price controls and for trading long-lived assets, voluntary provision of public goods and cooperation enforcement, social norms and behavioural game theory.
Intended learning outcomes
- Introduce students to laboratory experiments as a method for empirical investigation
- Offer an alternative approach to analysing economic problems
- Evaluate the predictive power of different economic theories
- Facilitate a deep understanding of the topics to be covered by exposing students to the problem at hand
High level of development: oral communication; written communication; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; use of computer software; receptiveness to alternative ideas.
Moderate level of development: collaborative learning; problem solving; team work; statistical reasoning; accessing data and other information from a range of sources.
Eligibility and requirements
|Code||Name||Teaching period||Credit Points|
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 two-hour end of semester examination (60%)
- A presentation of a recent paper using controlled experiments (25%)
- Assignments equivalent to 1000 words (10%)
- Class participation (5%)
- To pass this subject students must pass the end of semester examination.
Dates & times
- Semester 2
Principal coordinator Guy Mayraz Mode of delivery On Campus — Parkville Contact hours Three hours of lectures and practical sessions per week Total time commitment 170 hours Teaching period 24 July 2017 to 22 October 2017 Last self-enrol date 4 August 2017 Census date 31 August 2017 Last date to withdraw without fail 22 September 2017 Assessment period ends 17 November 2017
Semester 2 contact information
Time commitment details
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
- Breadth options
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.