EC321-Experimental Economics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Autumn term module
Pre-requisites: EC201 Intermediate Microeconomics and EC204 Introductory Econometrics or EC201 Intermediate Microeconomics and EC207 Empirical Methods for Economics and Social Sciences
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2019/0

Module Convenor: Dr Sophie Clot

Email: s.clot@reading.ac.uk

Type of module:

Summary module description:

This module offers an introduction to Experimental Economics and how it can be applied to the understanding of individual decision making and micro economic related issues. This module explains how to design and run economic experiments and how to analyse the collected data in order to evaluate and validate the associated behavioural hypothesis. Policy or managerial implication will also be considered. This module offers students the opportunity to develop their research skills. It applies micro economic analysis and experimental tools to up-to-date real world issues. It is based on recent academic research outcomes and offers an exposure to modern theory developments.

Aims:

The aims of this module are to:

•    Develop research skills

•    Become familiar with the methodology of experimental economics and their impact on economic theories

•    Learn how to design and conduct an economic experiment and how to analyse the data generated by the experiment

•    Discuss policy and managerial implications

 

Assessable learning outcomes:

Students will be assessed on their research project. This will include the ability to rigorously design and conduct an economic experiment, as well as analysing the data (the research question will be provided). Some classes will be dedicated to guided work, but it is expected a good level of personal engagement from the student to run the project.

Additional outcomes:

Students will be given the opportunity to build research skills through a ‘learning by doing’ approach to solve topical micro economic issues and will receive exposure to some of the most recent development from academic research.

Outline content:

There will be a mix of lectures and guided work. Lectures will be used to expose the methodological background required for the research project (experimental design, statistical analysis, project writing, among others). The remaining teaching time will be used to provide further guidance all along the life of the research project.

Brief description of teaching and learning methods:

A combination of lectures and guided work. The research project is an integral part of the learning process as well as the assessment. A set of research questions will be given to the students, related to topical economic issues.

Contact hours:

	Autumn	Spring	Summer
Lectures	10
Seminars	10
Tutorials	5
Practicals classes and workshops	5
External visits	170
Total hours by term	200
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Project output other than dissertation	100

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

The assessed work consists of a project report of approximately 5000 words. This report will include a literature review relating to a selected research question; the description of the experimental design the instructions, the data analysis, and a discussion of the most relevant findings as well as their implications. More specifically:

(1)    In a first piece of coursework, students are required to carry out a literature review describe their experimental design. This accounts for 20% of the project mark .

(2)    A second piece of work covers the practical implementation of the experiment (group work, 20%) as well as the preliminary data analyses (individual, 10%). This accounts for 30% of the project mark.

(3)    The full written report has a 50% weight and is submitted in the Spring term. 

Formative assessment methods:

Feedback will be provided to the students on the various stages of their projects through the initial literature review to the discussion of results and before the final report has to be submitted.

Penalties for late submission:
The Module Convener will apply the following penalties for work submitted late:

where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (or part thereof) following the deadline up to a total of five working days;

where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A minimum overall mark of 40%.

Reassessment arrangements:

Reassessment is by coursework only. A resubmission will be required that addresses the weaknesses of the original submission. The resubmission may focus on any combination of the components of the original exercise, excluding a re-running of the experiment. It will be of a maximum length of 5000 words.

Additional Costs (specified where applicable):

Last updated: 8 April 2019