48
Finance
REGGIO DI CALABRIA
Overview
Date/time interval
Syllabus
Course Objectives
The course aims to achieve the following learning objectives, as defined by the Dublin Descriptors:
1. (knowledge and understanding) advanced knowledge and understanding of the main constructs of behavioral economics and the innovative perspectives necessary to develop original ideas, including for research purposes.
2. (applying knowledge and understanding) ability to apply knowledge in the design and implementation of economic policies based on the behavioral economics approach in the context of a global economic system, as well as to solve problems in interdisciplinary contexts.
3. (making judgments) ability to gather and integrate knowledge in the complex field of economic analysis; formulate independent judgments and understand their ethical and social implications; critical and reflective skills necessary to identify the strengths and weaknesses of economic models, ability to assess the quality of economic policy strategies, to critically examine, through the experimental economics approach, the work of public decision-makers in the economic field.
4. (communication skills) ability to communicate information, ideas, problems, and solutions to specialist and non-specialist audiences (citizens, firms); communication and interpersonal skills applicable to the process of economic analysis and communication.
5. (learning skills) ability to learn in relation to the management of complex professional activities and projects that require taking responsibility for decisions in unpredictable work contexts; ability to learn in relation to identity building and professional development; development of autonomous learning skills (learning to learn competence)
Course Prerequisites
The course has basic prerequisites (knowledge required for admission to the degree program):
ability to understand a text
oral communication skills
Teaching Methods
Teaching activities will be conducted in a dialogical and interactive manner aimed at promoting active participation and critical reflection on the part of students through the use of case studies and scientific articles. Students will be asked to address behavioural economic issues, working in small groups (shared and distributed learning), and will be co-constructors of their own knowledge.
Assessment Methods
The expected learning outcomes will be assessed at the end of the course through an oral exam. The assessment criteria used to evaluate learning outcomes during the oral exam include:
- the completeness and relevance of the knowledge acquired
- the appropriate use of economic vocabulary and scientific terminology
- the ability to critically analyze economic issues, identifying the role of experimental economics and proposing solutions and interventions
Skills will be assessed through a written test aimed at verifying knowledge of the course content and the ability to apply it in a professional context, the ability to think independently, and the use of appropriate scientific language. The grade will be expressed in thirtieths and will therefore vary from 18/30 to 30/30 with honors, depending on the skills demonstrated in the written test. An exam that demonstrates in-depth, comprehensive, and accurate knowledge of the course content and mastery of scientific language will be considered excellent (30/30). An exam that demonstrates adequate overall knowledge of the course content and appropriate use of scientific language will be considered fair (29-24/30). An exam that demonstrates limited and superficial knowledge of the proposed content and approximate use of scientific language will be considered sufficient (23-18/30). An exam that demonstrates difficulty in navigating the course content, gaps in training, inappropriate use of scientific language, or predominantly rote knowledge will be considered insufficient.
Texts
The Handbook of experimental economics volume 2, J.H. Kagel and A. E. Roth eds. Princeton University Press
Chapter 2 - Using Experimental Methods to understand Why and How We Give to Charity
Chapter 3 - Neuroeconomics
Chapter 4 - Other-Regarding Preferences: A Selective Survey of Experimental Results
Chapter 9 - Auctions
Rabin, Matthew. 'Incorporating Fairness into Game Theory and Economics', American Economic Review, 83(5), 1993, pp. 1281-1302
Kahneman, Daniel and Amos Tversky (1979). ‘Prospect Theory: An Analysis of Decision under Risk’, Econometrica, 47(2), 1979: 263-292.
Fehr, Ernst and Klaus, Schmidt (1999). A theory of fairness, competition and cooperation. Quarterly journal of economics, 114(3), 817-868.
Bolton, Gary and Axel Ockenfels (2000). ERC: A theory of equity, reciprocity, and competition, American Economic Review, 90(1), 166-193.
Engelmann, Dirk and Martin Strobel (2004). Inequality aversion, efficiency, and maximin preferences in simple distribution experiments. American Economic Review, 857-869.
Blanco, Mariana, Dirk Engelmann, and Hans Theo Normann (2011). A within-subject analysis of other-regarding preferences. Games and Economic Behavior 72 (2), 321-338.
Alm, James and Antoine Malézieux (2021). 40 years of tax evasion fames: a meta-analysis. Experimental Economics 24, 699-750.
Galizzi, Matteo and Daniel Wiesen (2018). Behavioral Experiments in Health Economics. Oxford Research Encyclopedia of Economics and Finance, 1-42.
Contents
The course introduces the main theoretical constructs and experimental tests of Experimental Economics as a discipline and aims to examine its epistemological, methodological, and practical issues. The topics covered will include:
The description of cognitive biases related to economic theory
The main theoretical models underlying behavioral economics
Experimental tests of theoretical models
The analysis of other-regarding preferences
The economic analysis of charities
Neuroeconomics
Auction systems
The basic content will be presented as part of an in-depth economic training course and will cover what it means today to acquire skills in behavioral economics, which include the ability to analyze cognitive biases and their implications for economic behavior, and to evaluate experimental results. Particular attention will also be paid to the role of reflexivity in economic analysis through the interpretation of experimental results in relation to theoretical models.
articles and slides can be downloaded following the link
https://www.dropbox.com/scl/fo/hh26n156312aa4bvfzswx/AJlKG3ZpU5kpyLgKeZbQrMU?rlkey=i1yie2en91o432xpxsy6yj70w&st=u5mbsvpy&dl=0