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Behavioural Economics:Accounting&Finance (ECON90062)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Year of offer2017
Subject levelGraduate coursework
Subject codeECON90062
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

The subject informs students how behavioural economics extends traditional economics by incorporating insights into human behaviour derived from psychology, sociology and neuroscience and how these insights may be valuable for research into accounting.

Intended learning outcomes

On successful completion of this subject, students should be able to:

  • explain the behavioural patterns uncovered in behavioural economics;
  • explain some of the techniques used by behavioural economics to create knowledge;
  • evaluate the contribution of behavioural economics to accounting and finance research;
  • synthesise and contrast some of the recently created knowledge for accounting from behavioural economics with knowledge from more traditional accounting research;
  • write coherent accounts of issues in behavioural economics;

Generic skills

In terms of cognitive skills, by studying this subject students will improve their ability:

  • to explain an argument logically, such as how loss aversion and myopia implies a large premium of equity over bonds;
  • to synthesize and contrast different ideas and theories, such as the synthesis of two theories of saving, that is the rational agent theory and the multiple self theory;
  • to apply theories to the real world, for example the implications for portfolio choice of mental accounts;
  • to evaluate the relevance of competing theories, in particular behavioural economics compared with traditional economics.

At a broader level, this subject will increase students’ awareness of over-arching issues, especially:

  • the value of academic research;
  • the development of knowledge;
  • the contribution of rigorous thinking to solving economic and social problems;
  • the interplay of fact, values and theory.

Eligibility and requirements





Non-allowed subjects

ECON30019 Behavioural Economics

Code Name Teaching period Credit Points
ECON30019 Behavioural Economics
Semester 2

Recommended background knowledge

Successful completion of undergraduate microeconomics subjects is recommended.

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 (70%)
  • A 3000 word essay due three weeks prior to the end of semester (30%)

Note: Successful completion of this subject requires a pass (50%) in the final exam.

Dates & times

  • Semester 2
    Principal coordinatorTom Wilkening
    Mode of deliveryOn Campus — Parkville
    Contact hoursOne 3 hour seminar 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

Estimated total time commitment of 170 hours per semester

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

  • 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.

  • Available to Study Abroad and Exchange students

    This subject is available to students studying at the University from overseas institutions on exchange and study abroad.

Last updated: 16 June 2018