Handbook

ECON30022 Experimental Economics

Credit Points: 12.5
Level: 3 (Undergraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2017:

Semester 2, Parkville - Taught on campus.Show/hide details
Pre-teaching Period Start not applicable
Teaching Period 24-Jul-2017 to 22-Oct-2017
Assessment Period End 17-Nov-2017
Last date to Self-Enrol 04-Aug-2017
Census Date 31-Aug-2017
Last date to Withdraw without fail 22-Sep-2017


Timetable can be viewed here.
For information about these dates, click here.
Time Commitment: Contact Hours: Three hours of lectures and practical sessions per week
Total Time Commitment:

170 Hours

Prerequisites:

The following:

Subject
Study Period Commencement:
Credit Points:
Summer Term, Semester 1
12.50
Corequisites:

None

Recommended Background Knowledge:

Please refer to Prerequisites and Corequisites.

Non Allowed Subjects:

None

Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Coordinator

Dr Guy Mayraz

Contact

guy.mayraz@unimelb.edu.au

Subject Overview:

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.

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
Assessment:
  • 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.
Prescribed Texts:

You will be advised of prescribed texts by your lecturer.

Breadth Options:

This subject potentially can be taken as a breadth subject component for the following courses:

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
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.

Related Course(s): Master of Applied Econometrics
Master of Commerce (Accounting)
Master of Commerce (Finance)
Related Majors/Minors/Specialisations: Economics
Master of Economics electives

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