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BUSI46I15: Behavioural Economics and Finance (Full-Time)

It is possible that changes to modules or programmes might need to be made during the academic year, in response to the impact of Covid-19 and/or any further changes in public health advice.

Type Open
Level 4
Credits 15
Availability Not available in 2024/2025
Module Cap
Location Durham
Department Management and Marketing

Prerequisites

  • None.

Corequisites

  • None.

Excluded Combinations of Modules

  • None

Aims

  • To develop advanced knowledge of decision making under uncertainty and over time, and the skills to contribute to discussions of behavioural economics and finance at senior management and board level.

Content

  • Bidding in auctions and the winners curse
  • Willingness to pay and endowment effects
  • Elicitation and identification of risk preferences
  • Belief elicitation and prediction markets
  • Planning horizons and investment behaviour
  • Multivariate risk aversion and insurance decisions

Learning Outcomes

Subject-specific Knowledge:

  • Upon completion of the module students will have acquired:
  • a comprehensive and detailed knowledge of economic and financial decision making
  • an understanding of, and capacity to improve, their own decision making processes in economics and finance
  • insight into the motives and modes of behaviour among other market participants as well as colleagues and employees

Subject-specific Skills:

  • Upon completion of the module, students will be able to:
  • Identify and evaluate decision making under uncertainty
  • Identify and evaluate decision making over delayed outcomes
  • Devise practical methods to elicit individual and group preferences over uncertain and delayed outcomes
  • Critically assess financial risk management
  • Critically evaluate bidding behaviour in auctions

Key Skills:

  • Written communication skills
  • Planning, organisational and time management skills
  • Problem solving and analytical skills
  • Computer literacy

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Learning outcomes will be met through a combination of lectures, group work, classroom experiments and discussion, supported by guided reading. The written assignment, in the form of an essay, will test students understanding of concepts in behavioural economics and finance, and their ability to use these concepts in relation to particular decision problems.

Teaching Methods and Learning Hours

ActivityNumberFrequencyDurationTotalMonitored
Workshops (a combination of taught input, groupwork, case studies and discussion), timetabled in blocks28Yes
Preparation and reading122 
Total150 

Summative Assessment

Component: Written AssignmentComponent Weighting: 100%
ElementLength / DurationElement WeightingResit Opportunity
Essay4000 words100Same

Formative Assessment

Students will receive feedback on their contributions to class and group discussions.

More information

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