ECON 2511 - Behavioural Economics II

North Terrace Campus - Semester 1 - 2021

This course provides a non-technical introduction to behavioural economics. Behavioural economics analyses regularities in actual individual and strategic decision making and documents departures from behaviour predicted by classical economic theory. Behavioural economics explains these departures by incorporating psychological aspects into economic theories. This course will help you understand why people make the decisions they make, improve your own decision making, and predict how others behave in situations in which they interact with you strategically.

  • General Course Information
    Course Details
    Course Code ECON 2511
    Course Behavioural Economics II
    Coordinating Unit Economics
    Term Semester 1
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Assumed Knowledge ECON 1005 or equivalent
    Assessment Typically 30% homework assignments, 20% mid-semester tests, 10% tutorial presentation, 40% final exam.
    Course Staff

    Course Coordinator: Professor Ralph-Christopher Bayer

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    The purpose of this course is to provide students with an introduction to central themes and results in both non-cooperative and cooperative game theory.

    On successful completion of this course students will be able to:
    1 Demonstrate how the standard assumptions in economics translate into predicted behaviour
    2 Derive the behaviour predicted by classical game theory in simple games
    3 Critically discuss the standard assumptions made in classical economic theory
    4 Explain behavioural concepts in individual decision making
    5 Explain behavioural concepts in strategic interaction
    6 Apply behavioural concepts to new situations
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
  • Learning Resources
    Required Resources

    Erik Angner: A Course in Behavioural Economics, 3rd edition, 2020.

    Please make sure that you purchase a copy of the book. I have deliberately chosen a book, which is not outrageously expensive. The book can be purchased for a reasonable price as an ebook. If ordered directly at the publisher ( ) a 20 percent discount is available (Discount code: ANZJR20).

    Additional required reading resources will be announced during the semester on Canvas or in class.
    Online Learning

    The course uses MyUni and it is a student’s responsibility to check the website regularly.

    Course material such as lecture notes, assignments, and assignment answer guides will be available on MyUni.

  • Learning & Teaching Activities
    Learning & Teaching Modes
    Learning in this course is through lectures, tutorial, and personal study.
    The lectures will provide you with the necessary understanding of the material to be able to solve the exercises you will be given during tutorials, assignments or exams.

    In the tutorials you will:
    • In the tutorials you will be asked to present and discuss solutions to tutorial exercises.
    • Sometimes you will be asked to make mini-presentations of important concepts.
    • Your tutor will moderate the course discussions and will be available to answer questions.
    Diverse learning styles will be supported by the provision of course materials in a variety of formats.

    The practical learning approach will be incorporated through the tutorials as described above. An online discussion board will also provide a dynamic forum for students to share and develop their ideas.

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Students in the course are expected to attend all lectures and tutorials throughout the semester. Beyond those three contact hours per week, I expect students to commit approximately four hours per week to private study for revision and assignments.
    Learning Activities Summary
    A Tentative syllabus for the course
    Week Topic
    1 Part I
    Introduction to Behavioural Economics
    2-10 Part II
    Individual Decision Making
    - Choice under certainty
    - Judgement and Choice under Risk and Uncertainty
    - Intertemporal Choice
    11-12 Part III
    Strategic Decision Making
    - Classical Game Theory
    - Behavioural Game Theory
    - Social Preferences
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary

    Assessment Task Due Weighting Learning Outcome
    Midterm myuni exam

    week 7

    20% 1,3,4
    Assignment 1 week 6 15% 1,6
    Assignment 2 week 12 15% 2,5
    Final myuni exam exam period 35% 1,2,4,5,6
    recorded video presentation during the year 15% 1,2,3,4,5
    Assessment Detail
    1. There will be two assignments and one mid-semester exam during the semester. The goal of the assignments is to facilitate preparation for the exams. The assignments and mid semester exam are compulsory and NOT redeemable, unless a student has a medical certificate which has to be presented to the lecturer before any redemption can be arranged. Extensions for assignments will not be granted.
    2. The final exam will cover the entire course. All material from the lectures, the textbook, or the tutorials is examinable.
    3. Every student will be asked to make a short presentation in the tutorials covering one important concept. The presentations will take part shortly after the concept has been covered in the lecture. Depending on numbers in tutorials the presentations might be held by groups. 
    4. Assessment marks prior to the final exam will be communicated on the course website.  Students are encouraged to check their marks and notify the lecturer-in-charge of any discrepancies.
    Refer to MyUni for further instructions regarding submission
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy ( course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.