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DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: Experimental Economics (ECNM10090)

Course Outline
SchoolSchool of Economics CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 10 (Year 3 Undergraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThis course is an introduction to the field of Experimental Economics, its methods, and some of the recent applications. The course will introduce students to how controlled experiments are used in Economics to evaluate theories and behavioural assumptions as well as to test policies and their implementation by presenting key findings in the literature. It also aims to provide students with skills needed to design and run an experiment.
Course description The course will consist of an introduction to experimental methods; various laboratory and field experiments and discussion of their experimental designs and evidence. Seminal papers and recent developments in the literature will be addressed in this course. Some indicative topics that will be included: risk, uncertainty, trust, dishonesty, public good games, social preferences, voting, decision making, health behaviours.

The course is taught through a programme of lectures and seminars. Reading and critical assessment of the literature is an important ingredient of the course.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Economics 2 (ECNM08006)
Co-requisites Students MUST also take: Topics in Microeconomics (ECNM10070)
Prohibited Combinations Other requirements None
Information for Visiting Students
Pre-requisitesVisiting students should usually have an equivalent of at least 4 semester-long Economics courses at grade B or above (or be predicted to obtain this) for entry to this course. This MUST INCLUDE courses in Intermediate Macroeconomics (with calculus); Intermediate Microeconomics (with calculus); and Probability and Statistics. If macroeconomics and microeconomics courses are not calculus-based, then, in addition, Calculus (or Mathematics for Economics) is required.
High Demand Course? Yes
Course Delivery Information
Academic year 2017/18, Available to all students (SV1) Quota:  None
Course Start Semester 2
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Seminar/Tutorial Hours 9, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 167 )
Assessment (Further Info) Written Exam 70 %, Coursework 30 %, Practical Exam 0 %
Additional Information (Assessment) 30% coursework, 70% written exam
Feedback Written feedback will be provided on the written assignment.

Students will be welcomed to discuss their exam after the release of the final marks and the answer guide.
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S2 (April/May)Experimental Economics2:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. A knowledge and understanding of key concepts, issues and models in the economics of migration, along with empirical evidence on and policy implications of those models and a deeper understanding of recent research activity in some more specialised areas.
  2. Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
  3. Communication skills in order to critique, create and communicate understanding and to collaborate with and relate to others.
  4. Personal effectiveness through task-management, time-management, teamwork and group interaction, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
  5. Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
Reading List
A variety of academic articles associated with each lecture will be assigned, which students are advised to read carefully. In addition, students may wish to refer to the following textbooks to aid their comprehension:

Behavioral Game Theory: Experiments in Strategic Interaction by Colin F. Camerer, Princeton UP, 2003.

Experimental Economics by Douglas D. Davis and Charles A. Holt, Princeton UP, 1993.

Experimental Economics: A Primer for Economists by Daniel Friedman, Cambridge UP, 1994.

Field Experiments in Economics: Handbook of Experimental Economics edited by John A List, Elsevier, 2005.

Handbook of Experimental Economics edited by John H. Kagel and Alvin E. Roth, Princeton UP, 1997.

Handbook of Experimental Economics Results edited by Charles Plott, Vernon Smith, Elsevier, 2008.

Papers in Experimental Economics by Vernon L. Smith, Cambridge UP, 2006.
Additional Information
Graduate Attributes and Skills Research and Inquiry
B1. The ability to identify, define and analyse theoretical and applied economic problems and identify or devise approaches to investigate and solve these problems.
B3. The ability to critically assess existing understanding of economic and social issues, the limitations of that understanding and the limitations of their own knowledge and understanding of those issues.
B4. The ability to question the principles, methods, standards and boundaries of economic knowledge

Personal and Intellectual Autonomy
C1. The ability to be independent learners who take responsibility for their own learning, and are committed to continuous reflection, self-evaluation and self-improvement.
C4. The ability to collaborate and debate effectively to test, modify and strengthen their own views.

D1. The ability to make effective use of oral, written and visual means to critique, create and communicate understanding.
D2. The ability to further their own learning through effective use of feedback.
D3. The ability to use communication as a tool for collaborating and relating to others.

Personal Effectiveness
E1. The ability to manage tasks and also skills in time-management.
E4. The ability to work effectively with others, capitalising on their different thinking.
Additional Class Delivery Information One 2 hour lecture per week, plus tutorials.
Course organiserDr Athanasia Arnokourou
Tel: (0131 6)51 3853
Course secretaryMrs Anna Domagala
Tel: (0131 6)51 5305
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