Behavioural Economics - ECON3124
Faculty: Australian School of Business
School: School of Economics
Course Outline: ECON3124 Course Outline
Campus: Kensington Campus
Career: Undergraduate
Units of Credit: 6
EFTSL: 0.12500 (more info)
Indicative Contact Hours per Week: 3
Enrolment Requirements:
Prerequisite: ECON2101
CSS Contribution Charge: 1 (more info)
Tuition Fee: See Tuition Fee Schedule
Further Information: See Class Timetable
View course information for previous years.
Description
economicus, the rational, egoistic decision maker assumed in “standard” economic theory. In this course -- building on ECON2126 – we
explore the challenges these behavioural regularities poses for economic theory, and will study behavioural economic models of decision
making which aim to incorporate and predict real-world economic behaviour. Specifically we review models of social preferences like
altruism, inequality aversion, sequential and simultaneous reciprocity, as well as models of bounded rationality like decision errors,
learning, limited foresight and limited cognition. The course will also cover issues of behavioural market design, specifically the robustness
of market mechanisms and other institutions against strategic, irrational or socially motivated behaviour.