Course code ECN304

ECN304 Behavioral and Experimental Economics

Norsk emneinformasjon

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Showing course contents for the educational year starting in 2019 .

Course responsible: Stein Terje Holden
Teachers: Frode Alfnes, Arild Einar Bjørn Angelsen
ECTS credits: 10
Department: School of Economics and Business
Teaching language: EN
(NO=norsk, EN=Engelsk)
Limits of class size:
-
Teaching exam periods:
This course starts in Autumn parallel. This course has teaching/evaluation in Autumn parallel.
Course frequency: Annually
First time: 2012H
Preferential right:
-
Course contents:
Topics in behavioral economics: Rational vs. irrational behavior, uncertainty and expected utility, prospect theory, time preferences and discounting, risk preferences and responses to risk, altruism, fairness, trust, endowment effects. Topics in experimental design: Basic design issues, implementation of laboratory experiments, field Experiments, internal and external validity.
Learning outcome:

The students learn to distinguish rational from irrational behavior based on Expected Utility Theory and discounted utility maximization for intertemporal choice.

Students learn about systematic deviations from Expected Utility Theory and how Prospect Theory may predict such behavior.

Students learn about the advantages and limitations of laboratory and field experiments (internal and external validity).

Students learn a set of standard experimental games and methods and what has been learnt from these: Dictator game, Ultimatum game, Trust game, public goods game, methods to elicit risk preferences, methods to elicit time preferences

Students are given one exercise where they will design their own experiment which they will present in class

Learning activities:
Lectures and exercises.
Teaching support:
Students will have access to detailed information about the course with access to the relevant literature through Canvas.
Syllabus:
A detailed list of readings will be presented at the beginning of the course. General textbook: Wilkinson, N. and Klaes, M. (2012). An Introduction to Behavioral Economics. 2nd Edition. Palgrave Macmillan.
Prerequisites:
ECN201 Econometrics, STAT100 Statistics.
Recommended prerequisites:
ECN311 Microeconomics III
Mandatory activity:
Four compulsory exercises must have been submitted and accepted (quality check) before a candidate can take the exam. Exercises are valid until the next time the course is offered and for re-examination.
Assessment:
Written examination, 3,5 hours (100%)
Nominal workload:
300 hours.
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Reduction of credits:
-
Type of course:
Lectures 2 hours per week, exercises 0-2 hours per week
Note:
The course is in English. Incoming students can contact student advisors at the School of Economics and Business (studieveileder-hh@nmbu.no) for admission to the course. 
Examiner:
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Allowed examination aids: A1 No calculator, no other aids
Examination details: One written exam: A - E / Ikke bestått