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Unit (2020)

Information on this page, including unit offerings, is from the 2020 academic year.

Contemporary Advances in Economics: Theory and Applications - Honours (MBS597)

Organisational Unit Business
Credit Points 3
Description Economics assumes people are rational and self-interested decision makers. This unit introduces the cutting-edge microeconomic field known as experimental or behavioural economics and behavioural game theory; this research presents a more nuanced picture of 'economic man'. The implications of these new approaches for a number of real-world problems and issues that have been inadequately addressed by traditional economics are considered, such as addiction, cooperation and the valuation of non-marketed goods including environmental protection and safety .
Unit Learning Outcomes On successful completion of the unit you should be able:
1. To interpret diverse social phenomena through the prism of economics
2. To gain an understanding of strategic reasoning and its role in policy making
3. To articulate the role economic principles play in understanding the issues confronting policy-makers
4. To deepen your grasp of economic methodology and new developments in microeconomics
5. To gain the ability to recognise the potential value of 'nudges' and where they may successfully be implemented
Timetabled Learning Activities The unit will be run as a reading unit with students studying selected topics independently.
Unit Learning Experiences Students will meet regularly with staff and be guided by staff with expertise in microeconomic and macroeconomic policy and will pursue their own research and reading of the relevant literature, including economic theories, models and government policy statements. Reading lists will be provided but students are also expected to source additional relevant readings.
Assessment Students will receive ongoing informal feedback when meeting with staff to discuss readings and important economic policy issues. Assessment in this unit will be a mix of researching and writing answers to set questions for each topic, a research essay relating to a key economic policy problem and a final exam. Written feedback will be provided via comments on the written set questions students prepare for each topic and through comments given on the research essay.
Prerequisites Enrolment in Economics (BBus(Hons)) with Honours.
Exclusions Students who have completed BUS463 Contemporary Advances in Economics: Theory and Applications - Honours may not enrol in this unit for credit.
Previously 2014: BUS463
Appears in these Courses/Majors:
see individual structures for context
Economics Honours (BBus(Hons))
Internet Access RequirementsMurdoch units normally include an online component comprising materials, discussions, lecture recordings and assessment activities. All students, regardless of their location or mode of study, need to have access to and be able to use computing devices with browsing capability and a connection to the Internet via Broadband (Cable, ADSL or Mobile) or Wireless. The Internet connection should be readily available and allow large amounts of data to be streamed or downloaded (approximately 100MB per lecture recording). Students also need to be able to enter into online discussions and submit assignments online.

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