Behavioural Economics

Undergraduate | 2026

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Area/Catalogue
ECON 1013
Course ID icon
Course ID
205968
Level of study
Level of study
Undergraduate
Unit value icon
Unit value
6
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Course level
2
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Inbound study abroad and exchange
Inbound study abroad and exchange
The fee you pay will depend on the number and type of courses you study.
Yes
University-wide elective icon
University-wide elective course
Yes
Single course enrollment
Single course enrolment
Yes
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Note:
Course data is interim and subject to change

Course overview

The aim of this course is to critically investigate the behavioural assumptions underlying standard economic theory by contrasting them with actual human behaviour observed in diverse contexts. Students will explore the limitations of traditional economic models and develop a deeper understanding of how psychological factors influence decision-making processes. By examining empirical evidence  and engaging with alternative theories that incorporate psychological realism, students will learn to formulate and assess more accurate models of human behaviour and apply them in a wide variety of different real-world situations.

  • Choice Under Certainty
  • Probability Judgement
  • Choice Under Risk and Uncertainty
  • Intertemporal Choice
  • Strategic Interactions

Course learning outcomes

  • Critically discuss the standard assumptions made in standard economic theory.
  • Derive behaviour predicted by standard theory in simple individual and strategic decision environments.
  • Identify commonly observed behaviour that contradicts predictions from standard theory.
  • Explain and apply alternative behavioural theories that incorporate psychological phenomena into economic theory.
  • Demonstrate if and how alternative theories can rationalise behaviour that cannot be explained by standard theory.

Assessment

Short Response Questions, Short Response Questions, Short Response Questions, Short Response Questions, Short Response Questions, Short Response Questions, Short Response Questions