ECX5600 Behavioural economics
Faculty of Business and Economics
ECX5600 Behavioural economics is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2025 in Semester 2 at Caulfield. It needs ECF5927 or ECC5900.
- Credit points
- 6
- Offered in 2025
- Semester 2
- Caulfield
- Assessment
- Exam 50%
- and 2 other tasks
- Workload
- 144 hours
- per semester
This is the 2025 handbook entry. See the 2027 entry.
Reviews
No reviews yetNo reviews yet. Be the first to review ECX5600.
Requisites
Before ECX5600
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECX5600
No unit lists ECX5600 as a prerequisite in the 2025 handbook.
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 2025
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Caulfield | On ev |
Assessment
- Presentation40%
- Demonstration10%
- 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
- Workshops36 hours
- Teaching approachActive 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.
Contacts
- Chief Examiners
- Associate Professor Xiaojian Zhao
Common questions
When is ECX5600 offered?
In 2025, ECX5600 runs in Semester 2 at Caulfield.
How much work is ECX5600?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECX5600 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 2 other tasks.