EFB332 Applied Behavioural Economics
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB332 |
|---|---|
| Prerequisite(s): | EFB228 or EFB331 or EFB337 |
| Equivalent(s): | EFX332 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,174 |
| Pre-2021 CSP student contribution | $1,703 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,456 |
| International unit fee | $5,640 |
Unit Outline: Semester 2 2026, Gardens Point, Internal
| Unit code: | EFB332 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB228 or EFB331 or EFB337 |
| Equivalent: | EFX332 |
| Coordinator: | Dipa Sarkar | dipanwita.sarkar@qut.edu.au |
Overview
This unit is designed to expose you to current and practical applications of behavioural economics that can be used to improve the understanding of important topics in a variety of industries and contexts. It teaches you about the economic paradigm, involving very basic but powerful tools to understand ubiquitous human behaviour exploring topics such as fads and herding behaviour, decision under risk and uncertainty, time and distributional preferences, status concerns, inter-temporal choices, human rationality, heuristics and biases, and behavioural game theory. The theories and methodological tools learned in this unit can also be applied to other economic areas and industries.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify and explain standard and behavioural economic approaches relevant to a variety of contexts. [KS1.1]
- Apply theoretical and empirical behavioural economic approaches to evaluate and critically analyse economic problems in a variety of contexts. [KS1.1. HO 2.1]
- Summarise and explain major insights generated in the field of behavioural economics including risk and uncertainty, time preferences and distributional preferences. [KS1.1, HO 2.1, PC 3.1]
- Demonstrate technical skills in applying methodological approaches and analytic tools used in the field of behavioural economics to interdisciplinary research problems. [KS 1.2, HO 2.1]
- Reflect on teamwork knowledge and skills for effective collaboration. [TS 4.2]
Content
Key topics are:
- Behavioural economic theories
- Strategic interaction and behavioural game theory
- Risk and uncertainty
- Other regarding preferences
- Individual incentives and costs in sports performance
- Positional concerns
- Experimental methods (laboratory and field experiments)
- Income distribution, fairness and social interactions
- Betting and gambling
- Time preference
- Fashion, fads and herding behaviour
- Heuristics and biases
- Behavioural economics and public policy
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The unit provides a reliable pool of theory, data and experience with which to develop and test hypotheses of general economic interest and to provide policy implications arising from these findings. It also acknowledges the far-reaching applicability of economic tools by implementing an inter-disciplinary approach. The unit will be delivered in weekly three-hour lecture/tutorial blocks comprising formal lecture and discussion formats. Relevant additional readings will be placed on the Course Materials Database (CMD). In accordance with QUT policy, all units are to be subject to Criterion Referenced Assessment (CRA). The unit coordinator will provide students with further details regarding CRA during the course of the semester during class and on the unit's Canvas site.
COVID-19 restrictions may require changes to the planned Learning Approaches described here. Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
General Assessment Information
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Report
Students will apply a behavioural economics approach to investigating a contemporary research topic. The report will also include a written reflection on teamwork process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
Short answer questions.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Recommended text(s)
Nick Wilkinson and Matthias Klaes (2017), An Introduction to Behavioral Economics (3rd Edition), Palgrave McMillan
Other
Nudge, Richard Thaler and Cass Sunstein, Yale University Press, 2008.
Additional reading will be provided on Canvas via QUT readings.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO3, Report, End of Semester Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4, Report, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Report, End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO5, Report
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO3, Report, End of Semester Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4, Report, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Report, End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO5, Report
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO3, Report, End of Semester Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4, Report, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Report, End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO5, Report
Unit Outline: Semester 2 2026, Online
| Unit code: | EFB332 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB228 or EFB331 or EFB337 |
| Equivalent: | EFX332 |
Overview
This unit is designed to expose you to current and practical applications of behavioural economics that can be used to improve the understanding of important topics in a variety of industries and contexts. It teaches you about the economic paradigm, involving very basic but powerful tools to understand ubiquitous human behaviour exploring topics such as fads and herding behaviour, decision under risk and uncertainty, time and distributional preferences, status concerns, inter-temporal choices, human rationality, heuristics and biases, and behavioural game theory. The theories and methodological tools learned in this unit can also be applied to other economic areas and industries.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify and explain standard and behavioural economic approaches relevant to a variety of contexts. [KS1.1]
- Apply theoretical and empirical behavioural economic approaches to evaluate and critically analyse economic problems in a variety of contexts. [KS1.1. HO 2.1]
- Summarise and explain major insights generated in the field of behavioural economics including risk and uncertainty, time preferences and distributional preferences. [KS1.1, HO 2.1, PC 3.1]
- Demonstrate technical skills in applying methodological approaches and analytic tools used in the field of behavioural economics to interdisciplinary research problems. [KS 1.2, HO 2.1]
- Reflect on teamwork knowledge and skills for effective collaboration. [TS 4.2]
Content
Key topics are:
- Behavioural economic theories
- Strategic interaction and behavioural game theory
- Risk and uncertainty
- Other regarding preferences
- Individual incentives and costs in sports performance
- Positional concerns
- Experimental methods (laboratory and field experiments)
- Income distribution, fairness and social interactions
- Betting and gambling
- Time preference
- Fashion, fads and herding behaviour
- Heuristics and biases
- Behavioural economics and public policy
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The unit provides a reliable pool of theory, data and experience with which to develop and test hypotheses of general economic interest and to provide policy implications arising from these findings. It also acknowledges the far-reaching applicability of economic tools by implementing an inter-disciplinary approach. The unit will be delivered in weekly three-hour lecture/tutorial blocks comprising formal lecture and discussion formats. Relevant additional readings will be placed on the Course Materials Database (CMD). In accordance with QUT policy, all units are to be subject to Criterion Referenced Assessment (CRA). The unit coordinator will provide students with further details regarding CRA during the course of the semester during class and on the unit's Canvas site.
COVID-19 restrictions may require changes to the planned Learning Approaches described here. Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
General Assessment Information
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Report
Students will apply a behavioural economics approach to investigating a contemporary research topic. The report will also include a written reflection on teamwork process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
Short answer questions.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Recommended text(s)
Nick Wilkinson and Matthias Klaes (2017), An Introduction to Behavioral Economics (3rd Edition), Palgrave McMillan
Other
Nudge, Richard Thaler and Cass Sunstein, Yale University Press, 2008.
Additional reading will be provided on Canvas via QUT readings.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO3, Report, End of Semester Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4, Report, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Report, End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO5, Report
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO3, Report, End of Semester Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4, Report, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Report, End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO5, Report
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO3, Report, End of Semester Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4, Report, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Report, End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO5, Report