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Experimental Economics (ECON30022)

Undergraduate level 3Points: 12.5Dual-Delivery (Parkville)

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Overview

Availability
Semester 2 - Dual-Delivery
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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

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

  • Utilise laboratory experiments as a method for empirical investigation
  • Identify alternative approaches to analysing economic problems
  • Evaluate the predictive power of different economic theories
  • Demonstrate a comprehensive understanding of the topics covered through being exposed 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.

Last updated: 2 December 2023

Eligibility and requirements

Prerequisites

Code Name Teaching period Credit Points
ECON20002 Intermediate Microeconomics
Semester 1 (Dual-Delivery - Parkville)
Summer Term (Online)
 12.5

Corequisites

None

Non-allowed subjects

None

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

Inherent requirements (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

Last updated: 2 December 2023

Assessment

DescriptionTimingPercentage

Assignment 1

  • 1000 words
Week 610%

Presentation of a recent paper using controlled experiments (in groups of 3-4 students)

  • 25 minutes
Week 920%

Assignment 2

  • 1000 words
Week 1210%

End-of-semester examination

  • 3 hours
Hurdle requirement: To pass this subject, students must pass the end-of-semester exam		During the examination period60%

Additional details

Important online examination information: This examination is the equivalent of a 2-hour assessment; however, students are provided with 3-hours to accommodate the time that will be required for typesetting of mathematical expressions and the uploading of documents.

Last updated: 2 December 2023

Dates & times

  • Semester 2
    Principal coordinatorAaron Kamm
    Mode of deliveryDual-Delivery (Parkville)
    Contact hoursThree hours of lectures and practical sessions per week
    Total time commitment170 hours
    Teaching period25 July 2022 to 23 October 2022
    Last self-enrol date 5 August 2022
    Census date31 August 2022
    Last date to withdraw without fail23 September 2022
    Assessment period ends18 November 2022

    Semester 2 contact information

    Aaron Kamm: aaron.kamm@unimelb.edu.au


Time commitment details

170 Hours

Last updated: 2 December 2023

Further information

Last updated: 2 December 2023