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Durham University

Postgraduate Module Handbook 2021/2022

Archive Module Description

This page is for the academic year 2021-22. The current handbook year is 2022-23
No such Code for pgprog: N1K017

Department: Management and Marketing

BUSI46I15: Behavioural Economics and Finance (Full-Time)

Type Open Level 4 Credits 15 Availability Not available in 2021/22
Tied to N1K017

Prerequisites

  • None.

Corequisites

  • None.

Excluded Combination of Modules

  • None

Aims

  • To develop advanced knowledge of decision making under uncertainty and over time, and the skills to contribute to discussions of behavioural economics and finance at senior management and board level.

Content

  • Bidding in auctions and the winner’s curse
  • Willingness to pay and endowment effects
  • Elicitation and identification of risk preferences
  • Belief elicitation and prediction markets
  • Planning horizons and investment behaviour
  • Multivariate risk aversion and insurance decisions

Learning Outcomes

Subject-specific Knowledge:
  • Upon completion of the module students will have acquired:
  • a comprehensive and detailed knowledge of economic and financial decision making
  • an understanding of, and capacity to improve, their own decision making processes in economics and finance
  • insight into the motives and modes of behaviour among other market participants as well as colleagues and employees
Subject-specific Skills:
  • Upon completion of the module, students will be able to:
  • Identify and evaluate decision making under uncertainty
  • Identify and evaluate decision making over delayed outcomes
  • Devise practical methods to elicit individual and group preferences over uncertain and delayed outcomes
  • Critically assess financial risk management
  • Critically evaluate bidding behaviour in auctions
Key Skills:
  • Written communication skills
  • Planning, organisational and time management skills
  • Problem solving and analytical skills
  • Computer literacy

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Learning outcomes will be met through a combination of lectures, group work, classroom experiments and discussion, supported by guided reading. The written assignment, in the form of an essay, will test students’ understanding of concepts in behavioural economics and finance, and their ability to use these concepts in relation to particular decision problems.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Workshops (a combination of taught input, groupwork, case studies and discussion), timetabled in blocks 28
Preparation and reading 122
Total 150

Summative Assessment

Component: Written Assignment Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
Essay 4000 words 100% Same

Formative Assessment:

Students will receive feedback on their contributions to class and group discussions.


Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University