University of Technology Sydney

23792 Behavioural Economics and Ethics

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2025 is available in the Archives.

UTS: Business: Economics
Credit points: 3 cp

Subject level:

Postgraduate

Result type: Grade and marks

Requisite(s): 23710 Behavioural Decision Making AND 23711 Behavioural Game Theory
There are course requisites for this subject. See access conditions.

Description

This subject explores ethical issues relevant to behavioural and experimental analyses in economics. It builds students’ understanding of how ethical principles are relevant in assessing behavioural public policy tools. Students also learn about examples of best and worst ethical practice in behavioural research. Students are introduced to Australian and international ethical standards for human-based research, enabling them to apply sound ethical principles when they are designing their own behavioural experimental studies.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Analyse the ethical dimensions of behavioural public policy tools
2. Assess the ethical implications of best versus worst practice in behavioural experimental studies including, for Australian studies, their acknowledgement of, and engagement with, Indigenous contexts
3. Evaluate ethical principles, in line with Australian best practice, applied in the design of behavioural experimental studies

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

  • Lead ethical behavioural economic practices, applying the principles of equity, justice and sustainability (3.1)

Contribution to the development of graduate attributes

The subject will explore how behavioural public policy instruments (e.g. “nudges”) can be analysed from an ethical perspective. It will also enable students to apply ethical principles when they are designing their own experimental studies. Via the subject assessments, students will develop their skills in following principles of ethical best practice when analysing everyday business problems and challenges.

This subject contributes to the development of the following graduate attribute(s):

  • Intellectual rigor and innovative problem solving
  • Social responsibility and cultural awareness
  • Professional and technical competence

Teaching and learning strategies

This subject is taught through a blend of online resources, self-directed study, seminars and student collaboration via group tasks and peer group learning. Subject content will be presented to students in a variety of formats (ppt slides, notes, articles) and delivered both online and in-class. At the beginning of the module, students are expected to review materials and complete tasks on their own before attending a weekly Zoom review session with the lecturer. Materials will be provided to students on Canvas, but students are also expected to seek information independently. The specific insights from economic thinking will be taught from principles to applications via the discussion of examples of good versus bad ethical practice in the context of behavioural experimental studies. Weekend seminars will allow students the opportunity for face-to-face interactions to review and engage with the material. Students will receive individual feedback in-class from the lecturer.

Content (topics)

  • Background on ethics and ethical practice
  • The evolution of ethical standards in behavioural experimental research.
  • How to understand and apply principles from Australia’s National Statement on Ethical Conduct in Human Research in the design of behavioural experimental studies
  • Analysing examples of best and worst practice in behavioural experimental studies.
  • Ethical issues in the analysis of nudging and other behavioural public policy initiatives

Assessment

Assessment task 1: Online Test (Individual)*

Objective(s):

This addresses subject learning objective(s):

1 and 2

Weight: 35%
Criteria:
  • Analytical capacity
  • Understanding of fundamental principles
  • Application to real world policies and problems

*Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 2: Ethics Report (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

This addresses program learning objectives(s):

3.1

Weight: 65%
Criteria:
  • Evidence of critical thinking
  • Ability to apply sound ethical principles in the design of behavioural experiments conducted in a professional/business context
  • Ability to communicate clearly and fluently – including to professional and other non-academic audiences

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

References

NHMRC, Australia’s National Statement on Ethical Conduct in Human Research (Current edition 2007, updated in 2018), National Health and Medical Research Council. https://www.nhmrc.gov.au/about-us/publications/national-statement-ethical-conduct-human-research-2007-updated-2018

Buell RW and John LK (2019), Commonwealth Bank of Australia: Unbanklike Experimentation, Harvard Business School Case Study.

The Community of Advantage: A Behavioural Economist's Defence of the Market, Oxford: Oxford University Press.

Thaler R and Sunstein C (2021), Nudge: The Final Edition: Improving Decisions About Money, Health, and the Environment, Yale University Press