ECC2600 Behavioural economics
Faculty of Business and Economics
ECC2600 Behavioural economics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2024 in Semester 2 at Clayton. It needs ECB1101, ECS1101, ECW1101, ECC1000 or ECF1100.
- Credit points
- 6
- Offered in 2024
- Semester 2
- Clayton
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
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Requisites
Before ECC2600
After ECC2600
No unit lists ECC2600 as a prerequisite in the 2024 handbook.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Equivalent units
The same content under another code. Only one of them counts.
Overview
Research in economics has increasingly incorporated fields such as psychology, sociology, and biology. Together with this, the methods in economic research have expanded to include designed experiments and more recently advanced technology such as fMRI. Findings from such empirical research, along with interactions with other fields using the new methods, provide valuable input for the development of new models of economic behaviour and improve the applicability of economic theories. This unit introduces findings in psychology, behavioural and experimental economics and discuss alternative models of individual decisions and the related implications in economic exchange.
Offerings in 2024
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment50%
- Examination50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand neoclassical economics models of decision making and scientific findings showing how empirically individuals may depart from the predictions of neoclassical models (also known as behavioural “irrationality”)
- 2
provide alternative behavioural models that are used to explain the behavioural “irrationality”
- 3
apply the knowledge from behavioural economics to analyse real-world problems, such as policy making, contract designing, marketing, and management
- 4
propose behavioural economics interventions to reduce inefficiencies resulting from cognitive biases.
Workload and teaching
- Workshops24 hours
- Teaching approachActive learning
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Where it fits
ECC2600 is part of 3 areas of study in the 2024 handbook.
Contacts
- Unit Coordinators
- Professor Erte Xiao
- Chief Examiners
- Professor Erte Xiao
Common questions
What are the prerequisites for ECC2600?
You need ECB1101, ECS1101, ECW1101, ECC1000 or ECF1100 before you enrol. Enrolment rules also apply.
When is ECC2600 offered?
In 2024, ECC2600 runs in Semester 2 at Clayton.
How much work is ECC2600?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECC2600 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.
Which majors and minors include ECC2600?
ECC2600 is part of Behavioural commerce and Economics.