Module Code: H8ABEC
Long Title Applied Behavioural Economics
Title Applied Behavioural Economics
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: Danielle Mc cartan-Quinn
Module Author: Isabela Da Silva
Departments: School of Business
Specifications of the qualifications and experience required of staff

Level 9 or equivalent qualification or relevant industry experience. A track record of teaching in a higher institution. 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Demonstrate understanding of the strengths and weaknesses of key theoretical concepts in behavioural economics
LO2 Distinguish between models that underpin decision making processes under conditions of uncertainty in the real world
LO3 Evaluate experimental studies that reveal aspects of human decision making and behaviour
LO4 Critically examine how choice architecture influences individual decisions and critically evaluate areas that behavioural economics can help policy making
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements

There are no additional entry requirements for this module.  The programme entry requirements apply.  No pre-requisites or co-requisites apply.  
 

Module Content & Assessment

Indicative Content
Introduction to Behavioural Economics – the science of decision-making
Rational decision making Thinking processes and modes of thought (System 1 and 2) Bounded rationality and decision making Decision making – the role of information, time and cognition Satisficing – integrating two traditions
Key concepts and models of decision making
Framing and expected utility theory Reference dependence Mental accounting Prospect Theory
Bounded Rationality and Decision Making – Cognitive biases
Bounded awareness Anchoring Availability Salience Representativeness Status quo bias and inertia Optimism and confidence
Bounded Rationality and Decision Making – Intertemporal biases
Overconfidence and the planning fallacy Narrow framing and investment decision-making Hyperbolic discounting
Bounded Rationality and Decision Making – Social biases
Fairness and reciprocity Fairness in action: the ultimatum and dictatorship games Motivational and emotional influences on individual decision-making
Adaptive behaviour and cognition
Links between bounded rationality, ecological rationality, social rationality Uncertainty, intuition or “gut feelings” Power of simple heuristics for real world decision making – the art of thinking fast
Behavioural Economic Applications
Business applications of behavioural economics in sales, HR, marketing and finance Choice architecture and nudges Public policy applications in Health, Tax, Housing, Central Banking, Justice and the Environment
Assessment Breakdown%
Coursework50.00%
End of Module Assessment50.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 50
Assessment Date: n/a Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
The continuous assessment will consist of a project where participants are required to, either in a group or individually, critically assess a current policy measure or business strategy informed by choice architecture and behavioural economic insights. Students will be expected to explain the key behaviour concept(s) upon which the policy/strategy is based and assess the experimental evidence existing in the area with a view to its implementation in other related areas.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 50
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
Students are required to sit an end of module examination which will cover all the learning outcomes of the module. The students will be given different types of questions ranging from straight forward calculations to the interpretation of accounts.
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
Reassessment Description
Candidates will attempt the repeat exam for the module if they do not successfully pass the module. As all learning outcomes are assessable through the repeat examination, the student does not have to re-sit failed individual CA components.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Classroom and demonstrations 24 Per Semester 2.00
Tutorial Mentoring and small-group tutoring 12 Per Semester 1.00
Independent Learning Independent learning 89 Per Semester 7.42
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • Wilkinson, N., & Klaes, M.. (2017), An Introduction to Behavioral Economics, 3rd Ed. Bloomsbury Academic.
  • Samson, A. (2022), The Behavioural Economics Guide (annual).
  • Kahneman D. (2011), Thinking Fast and Slow, Penguin.
Supplementary Book Resources
  • Cartwright, E. (2018), Behavioral Economics, 3rd Ed. Routledge.
  • Thaler, RH. (2016), Misbehaving: The Making of Behavioral Economics, WW Norton and Company.
  • Just, DR. (2014), Introduction to Behavioral Economics, Wiley.
  • Thaler RH and Sunstein CR. (2008), Nudge. Improving decisions about health, wealth, and happiness, Yale University Press.
  • Gigerenzer, G. (2008), Gut Feelings: The intelligence of the Unconsciousness, Penguin books.
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: