University of Technology Sydney

26813 Behavioural Decision Making

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Subject handbook information prior to 2024 is available in the Archives.

UTS: Business
Credit points: 3 cp
Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

This subject introduces students to a rapidly expanding area of economics and provides students with an understanding of important concepts from both psychology and economic theory. The subject material addresses current applications of Behavioural Economics tools in the industry and government.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. apply insights from psychology and other related disciplines in economic situations
2. interpret the role of behavioural factors in decision making
3. analyse behavioural and experimental studies

Contribution to the development of graduate attributes

This subject introduces students to a rapidly expanding area of economics and provides students with an understanding of important concepts from both psychology and economic theory. This understanding will allow them to analyse a wide range of situations and behaviour with a new length. The subject material addresses current applications of Behavioural Economics tools in the industry and government.

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

  • Intellectual rigour and innovative problem solving
  • Professional and technical competence

Teaching and learning strategies

This subject is delivered through a mix of online learning, three live online webinars and online consultations. The subject features a mix of theoretical concepts and application in the contemporary context that is designed to apply evidence-based judgement, analytical and creative skills to solve complex business problems.

Students have access to online resources, and self-directed learning activities and are expected to study online content provided via the UTS learning management system. They are required to complete online learning activities, which will help identify knowledge gaps and inform discussions. They are required to engage in online discussions with their peers and academics. Webinars are designed to present the theory and practice of the subject’s content. Students are required to complete pre-work activities before attending webinars. Discussions focus on the application of concepts, techniques, and methods.

A mandatory, online formative assessment provides students with further feedback to direct their self-study. Ongoing general and individual feedback will be provided throughout the subject via consultation sessions. A summative assessment provides feedback on students' comprehension and application of learning. Students also receive formal feedback on assessment tasks.

Content (topics)

  • Reference dependence
  • Context effects, Heuristics, and Biases
  • Risk Preferences
  • Time preferences
  • Nudge

Assessment

Assessment task 1: Online Quiz (Individual)*

Objective(s):

This addresses subject learning objective(s):

1 and 2

Weight: 40%
Criteria:
  • Ability to draw insights from psychology and other related disciplines
  • Accuracy in interpreting the behavioural factors in economic decision making situations

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

Assessment task 2: Report (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 60%
Criteria:
  • Ability to apply behavioural insights from psychology and other related disciplines in economic decision making
  • Ability to critically assess the role of behavioural factors in a decision making
  • Ability to analyse relevant behavioural and experimental studies to propose a behavioural solution to a new problem

Minimum requirements

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

References

[Optional] Angner, Erik. A course in behavioral economics. Macmillan International Higher Education, 2012.