Experimental Economics (ECON6027)

UNIT OF STUDY

This unit of study deals with the use of laboratory and field experiments in order to help assessing economic problems. Economic experiments are becoming a useful tool for the validation of theory, the development of new theory, the generation of advice to decision makers, and the design of new economic institutions. Economics aims to explain the 'real world' behaviour of agents. The lectures will provide opportunities to identify apparent contradictions between the predictions of economic models and experimental outcomes. The classes on experimental economics will follow a learning-by-doing approach. Most topics will be introduced in the experimental lab. Outcomes will be discussed in the following class and compared with theoretical predictions and previous experimental research.

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Further unit of study information

Classes

1x2-hr seminar/week, 6x1-hr laboratory sessions/semester

Assessment

assignments (25%), class participation (10%), group project (40%) and 2hr final exam (25%)

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

ECON5001

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Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.

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