This course aims to teach students some techniques of behavioural economics, classical economics, and compare the two approaches. It focuses on the principles and basic models of decision-making used by both streams of economists, as well as their consequences.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

 

On satisfying the requirements for this course, students should have the knowledge and skills to:

- Understand how behavioural economists think and approach economic questions.

- Fully understand and be able to clearly express the advantages, disadvantages, criticisms and limitations of Behavioural Economics.

- Understand the tools taught in class and be able to recognise their application to the analysis of real world situations.

- Understand aspects of decision-making under uncertainty and solve simple analytical problems.

Research-Led Teaching

Theory and applied examples covered in the course are derived from research in the field of Psychology and Economics in many cases with references to individual studies. In addition, students will have the opportunity to use the provided extra resources for each topic to deepen their understanding and getting first-hand experience with research papers.

Required Resources

Class material uploaded throughout the semester on Wattle

Recommended Resources

There is no perfect textbook in psychology and economics which we follow. Therefore, the only required material for the course is a set of relatively detailed lecture notes in form of slides and summaries for each topic. There is no specific textbook required.

Possible supplementary readings, which we will NOT follow very closely are the following, are the following text books out there:

· Erik Angner, A course in behavioral economics

· Nick Wilkinson and Matthias Klaes An Introduction to Behavioral Economics 2 Edition

· David Just Introduction to behavioral economics

These books are available in the Chifiey Library. Availability of an online version is currently being investigated and information will be advertised when known.

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction - Themes in psychology and economics
2	Reference-Dependent Preferences - Kahneman and Tversky’s classic experiments and Prospect theory.
3	Reference-Dependent Preferences - Market implications	Problem Set 1
4	Intertemporal Choice - Samuelson’s exponential-discounting mode
5	Intertemporal Choice - Self-control problems and hyperbolic discounting
6	Intertemporal Choice - Harmful substances and government policy	Problem Set 2
7	Intertemporal Choice - Misperception of utility	Mid-semester Exam
8	Heuristics and biases
9	Malleability and Inaccessibility of Preferences	Problem Set 3
10	Social Preferences - Distributional Preference
11	Social Preferences - Face Saving Concerns and Fairness Preferences	Problem Set 4
12	Behavioral Game Theory

Tutorial Registration

Tutorials will be delivered (mostly) remotely for this semester. Sign up for tutorials will be available on the Wattle course site where more details can be found in O-week.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Problem Sets	22 %	*	*	1,2,3,4
Midsemester Exam	38 %	21/09/2020	09/10/2020	1,2,3,4
Final Exam	40 %	*	*	1,2,3,4

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Integrity . In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Due to travel restrictions this course will be delivered through online platforms. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place. Students will have the opportunity to engage with teaching staff in a live manner. Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site in O-week.  

Examination(s)

Will be delivered on-line.

Assessment Task 1

Problem Sets

The course will rely heavily on problem sets. There will be 4 problem sets throughout the semester. They will be graded and count as a small part of your grade to make sure you pay them the attention necessary as they are a important teaching source of the course. Problem Set 1-3 will be worth 6% and Problem Set 4 will be worth 4% They will include mathematical problems and questions on the interpretation of those problems in the light of the course, as well as some questions asking you to apply the material to economic issues. You are strongly encouraged to work on them together in small groups. BUT: even if you work with others, you have to write up the solutions on your own, using your own words and own understanding! Questions will be available 10 days prior to the submission due date. Students will have to submit their answers to the problem set via Turnitin by the date and time given for each problem set. Feedback on the problem set will be given within 2 weeks. Further details will be given in lecture. No late submission is accepted.

Assessment Task 2

Midsemester Exam

A mid-semester Exam will be conducted online during the ANU mid-semester exam period - (week 6 and week 7). The exam will cover material from lectures and tutorials presented throughout the first half of the semester. More information will be provided via Wattle in week 4 or 5.

Assessment Task 3

Final Exam

A Final Exam will be held during the ANU Exam period. The Exam will cover all material delivered in lectures and tutorials in the second half of the semester (week 7-12). More information will be made available in week 10 of semester on Wattle.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Late submission not permitted. If an assessment task is submitted after the due date (without an extension, which can only be granted prior to the deadline), a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students