Магистратура 2023/2024

Экспериментальная экономикa

Лучший по критерию «Полезность курса для расширения кругозора и разностороннего развития»

Лучший по критерию «Новизна полученных знаний»

Статус: Курс по выбору (Экономика и экономическая политика)

Направление: 38.04.01. Экономика

Кто читает: Департамент теоретической экономики

Где читается: Факультет экономических наук

Когда читается: 1-й курс, 3 модуль

Формат изучения: без онлайн-курса

Охват аудитории: для своего кампуса

Преподаватели: Саху Собхагья

Прогр. обучения: Экономика и экономическая политика

Язык: английский

Кредиты: 3

Контактные часы: 36

Course Syllabus

Abstract

Experimental economics is a field of economics that aims to study economic behaviors by conducting controlled experiments. It involves setting up a controlled environment to observe how individuals behave under specific conditions and then using this information to test economic theories. Researchers and policymakers can benefit from the findings of experimental economics studies by gaining a deeper understanding of human decision-making, market dynamics, and policy formulation. The course will be in three sections. In the first section, the course will introduce behavioral economics with an overview of essential concepts in this field, such as bounded rationality, social preferences, prospect theory, and heuristics. The second section will cover the methodological foundation of running experiments to study economic behavior. This includes the principles of economics experiments, experimental design, subjects, data analysis, applications of experimental economics, and the ethical considerations involved in conducting experiments with human subjects. In the final section, we will delve deep into different types of field experiments to study preference, market, and discrimination. We will explore the application of field experiments (RCTs) in improving human capital and designing effective social programs.

Learning Objectives

• Understand key concepts and theories in Behavioral & Experimental Economics.
• Identify and explain some of the ways in which human decision-making is generally not economically rational.
• Explain how government policy might be improved using behavioral economic insights.
• Explain how experimental methods have contributed to economics.
• Explain the overall importance of field experiments to the discipline of economics.

Expected Learning Outcomes

• Correlation vs. causation
• Challenge of causal identification in social sciences
• Selection bias and Randomization
• Internal and external validity
• Behavioral development economics
• Induced value method
• House money effect
• Subjects of the experiment
• Risk behavior in the laboratory
• Experimenter demand effect
• Bounded rationality
• Heuristics and biases
• Controlled experiment
• Natural experiments
• laboratory experiment
• Parallelism
• Internal vs External validity

Course Contents

• Introduction
• Methodological Foundations
• Causal Inference & RCT
• Applications to Development Economics

Assessment Elements

• Group presentation
  This course is designed to function primarily as a seminar. This approach means there will be minimal lectures, with a greater emphasis on student-led discussions based on assigned readings. A high level of student participation in class is expected. Class time will be dedicated to clarifying and deepening the understanding of the assigned papers and to discuss significant issues. Each group, consisting of three students, will select a specific paper from a provided list and present it in class. The 60-minute presentation should include (1) an overview of the relevant literature, and (2) a detailed discussion of the chosen paper, including its main idea, experimental design, and key findings.
• Term paper
  Each student is required to submit a term paper by 24th March 2023. The term paper should include: (1) A literature review. (2) A comprehensive review of the presented paper. (3) A proposal for a follow-up or new experiment related to the paper's topic. Note: The term paper must be written independently by each student. Group members should avoid copying from each other and should design unique experiment proposals. You must submit your term paper over Smart LMS and you need not email the same.
• Mid-term examination
  The mid-term exam will cover all the lectures and the class presentations up to the date of the examination. Date of mid-term examination: 22nd February 2024

Interim Assessment

• 2023/2024 3rd module
  0.4 * Group presentation + 0.3 * Mid-term examination + 0.3 * Term paper

Bibliography

Recommended Core Bibliography

• An introduction to behavioral economics, Wilkinson, N., 2012
• Duflo, E., & Banerjee, A. (2017). Handbook of Field Experiments. Amsterdam, Netherlands: North Holland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1145037
• Methods in experimental economics : an introduction, Weimann, J., 2019
• Mostly harmless econometrics : an empiricist's companion, Angrist, J. D., 2009

Recommended Additional Bibliography

• Causal inference : the mixtape, Cunningham, S., 2021
• Mastering 'Metrics : the path from cause to effect, Angrist, J. D., 2015
• Nudge : improving decisions about health, wealth and happiness, Thaler, R. H., 2009
• Predictably irrational : the hidden forces that shape our decisions, Ariely, D., 2009
• The handbook of experimental economics, , 1995
• The handbook of experimental economics. Vol.2: ., , 2015

Authors

• SAKHU Sobkhagia
• Мальбахова Диса Анзоровна