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Durham University

Postgraduate Modules 2019/2020

Module Description

Please ensure you check the module availability box for each module outline, as not all modules will run in each academic year. Each module description relates to the year indicated in the module availability box. Please be aware that modules may change from year to year, and may be amended to take account of, for example: changing staff expertise, disciplinary developments, the requirements of external bodies and partners, and student feedback.

No such Code for pgprog: L1K209
No such Code for pgprog: L1K309
No such Code for pgprog: L1K709
No such Code for pgprog: L1K809
No such Code for pgprog: L1K609
No such Code for pgprog: L1K509
No such Code for pgprog: L1K109

Department: Economics and Finance

ECON43415: Experimental Economics and Finance

Type Tied Level 4 Credits 15 Availability Available in 2019/20
Tied to L1K209
Tied to L1K309
Tied to L1K709
Tied to L1K809
Tied to L1K609
Tied to L1K509
Tied to L1K109
Tied to N3K109 Finance
Tied to N3K209 Finance (Accounting and Finance)
Tied to N3K309 Finance (Corporate and International Finance)
Tied to N3K409 Finance (Finance and Investment)
Tied to N3K509 Finance (International Money, Finance and Investment)
Tied to N3K609 Finance (International Banking and Finance)
Tied to N3K709 Finance (Economics and Finance)
Tied to L1T109 Economics
Tied to L1T209 Public Economics
Tied to L1T309 Experimental Economics
Tied to L1T409 Environmental & Natural Resource Economics

Prerequisites

  • None.

Corequisites

  • EITHER Advanced Financial Theory (ECON41215) OR Advanced Microeconomics (ECON44715 or ECON41815)

Excluded Combination of Modules

  • None.

Aims

  • To develop specialised knowledge in theories of behavioural economics and finance, and test these theories using methods in experimental economics.

Content

  • The module is designed to combine the behavioural approach in economics and finance with active classroom experiments. These experiments illustrate simple economic situations, such as markets or auctions, and are used to highlight several economic ideas. We will critically review studies of economic behaviour in markets, bargaining, auctions, game theory, and public choice. We will also discuss key aspects of individual behaviour in isolation, in particular choice under uncertainty and choice over time.

Learning Outcomes

Subject-specific Knowledge:
  • By the end of the module students will:
  • have a comprehensive and detailed knowledge of experimental methods in economics;
  • have a critical understanding of methodological considerations including sample design and selection, design of experimental treatments, incentives, control and psychological biases.
Subject-specific Skills:
  • By the end of the module students will:
  • be able to critically evaluate experiments in economics run in the lab and the field, and the resulting behavioural insights and theoretical predictions;
  • be able to design experimental treatments that can identify and test these predictions;
  • be able to critically reflect on sample design and self-selection into experiments.
Key Skills:
  • Analytical and statistical understanding
  • Written communication
  • Planning and organisation

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

  • A combination of lectures, seminars and guided reading will contribute to achieving the aims and learning outcomes of this module.
  • Classroom experiments will be an essential part of teaching.
  • The summative examination will be designed to test the students’ critical knowledge and understanding of experimental methods, methodological considerations, and outcomes including their ability to design and critically reflect on appropriate experimental treatments. This will be an open book examination.

Teaching Methods and Contact Hours

Activity Number Frequency Duration Total/Hours
Lectures 9 1 per week 2 hours 18
Seminars 4 1 per fortnight 1 hour 4
Preparation & Reading 126
Revision Session 1 2 hours 2
Total 150

Summative Assessment

Component: Written Examination Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
Written Examination 2 hours 100% Same

Formative Assessment:

Students will receive formative feedback in a number of forms such as oral feedback on work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on DUO.


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


    If you have a question about Durham's modular degree programmes, please visit our User Guide. If you have a question about modular programmes that is not covered by the User Guide, or a query about the Postgraduate Module Handbook, please contact us using the Comments and Questions form below.