Course overview
This course introduces students to important economic concepts and tools that help them understand how the market system operates, how business decisions are made within a competitive environment and how psychological factors can influence those decisions and explain real-world economic behaviours. It analyses why decisions may depart from those predicted by classical economic models by incorporating psychological aspects into the theory.
This course helps students understand why people make the decisions they make, improve their own decision making, and predict how others behave in situations in which they interact strategically.
Course learning outcomes
- Demonstrate how standard assumptions in economics translate into predicted behaviour
- Derive behaviour predicted by classical game theory in simple games
- Critically evaluate standard assumptions made in classical economic theory
- Explain behavioural concepts in individual decision making and behavioural interactions
- Apply behavioural concepts to new economic situations
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The Student Contribution amount displayed below is for students commencing a new program from 2021 onwards. If you are continuing in a program you commenced prior to 1 January 2021, or are commencing an Honours degree relating to an undergraduate degree you commenced prior to 1 January 2021, you may be charged a different Student Contribution amount from the amount displayed below. Please check the Student Contribution bands for continuing students here. If you are an international student, or a domestic student studying in a full fee paying place, and are continuing study that you commenced in 2025 or earlier, your fees will be available here before enrolments open for 2026.