1. Handbook
  2. Subjects
  3. Experimental Economics
  4. Print

Experimental Economics (ECON30022)

Undergraduate level 3Points: 12.5On Campus (Parkville)

You’re viewing the 2018 Handbook:
Or view archived Handbooks
You’re currently viewing the 2018 version of this subject

Overview

Year of offer2018
Subject levelUndergraduate Level 3
Subject codeECON30022
Campus
Parkville
Availability
Semester 2
FeesSubject 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

Generic skills

  • 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

Prerequisites

The following:

Code Name Teaching period Credit Points
ECON20002 Intermediate Microeconomics
Summer Term
Semester 1
12.5

Corequisites

None

Non-allowed subjects

None

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

Assessment

Additional details

  • 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 coordinatorGuy Mayraz
    Mode of deliveryOn Campus — Parkville
    Contact hoursThree hours of lectures and practical sessions per week
    Total time commitment170 hours
    Teaching period23 July 2018 to 21 October 2018
    Last self-enrol date 3 August 2018
    Census date31 August 2018
    Last date to withdraw without fail21 September 2018
    Assessment period ends16 November 2018

    Semester 2 contact information

Time commitment details

170 Hours

Further information

Last updated: 11 October 2019