Course Details in 2024/25 Session

Module Title	LM Behavioural Economics
School	Birmingham Business School
Department	Economics
Module Code	07 40057
Module Lead	Michalis Drouvelis
Level	Masters Level
Credits	20
Semester	Semester 2
Pre-requisites
Co-requisites
Restrictions	None
Exclusions
Description	This module provides an advanced coverage of the field of behavioural economics and focuses on decision-making processes, both by individuals and in groups. The assumption of the traditional economically rational agent is relaxed and more behaviourally realistic models of decision-making are introduced. The analysis focuses on some of the inherent biases in our decision processes and challenges the assumption of rationality in decision making including, but not limited to, present bias, representativeness, availability, the halo effect, and regression to the mean. Several examples will be provided of behavioural biases which reflect that we can be 'predictably irrational' in our decision-making processes. The module will also analyse the behaviour change paradigm and discuss the insights surrounding how behavioural economics can be used to influence individuals' behaviour.
Learning Outcomes	By the end of the module students should be able to: Explain and appraise the core areas in behavioural economics Critically assess how decisions are actually made, and how this may differ from traditional economic assumptions Critically analyse behavioural economics accounts of individual and strategic decision making Design and critically assess behaviour change interventions based on behavioural economic theory Demonstrate written and oral communication and digital skills
Assessment
Assessment Methods & Exceptions	Assessment: 5-minute individual digital presentation (30%). 2000-word individual essay (70%). Reassessment: Resubmission of failed component(s): 5-minute individual digital presentation (30%). 2000-word essay (70%).
Other
Reading List