Course Aims & Objectives:
Aims: This course provides an introduction to the laboratory techniques used in conducting experiments in economics & finance; its underlying method and review of a selection of some of the major subject areas in experimental economics. It develops skills for investigating a research question in economics by experimental methods and the subsequent application of those skills to an economic issue.
Objectives: To train students with the general methodology of enquiry in experimental methods in economics; acquaint students with the main literature in experimental economics; and equip students to design typical experiments in pursuit of their own research inquiry. By the end of the course, students should be able to describe in detail the main principles of experimental economics and should have proficiency in conducting experimental method of inquiry.
Units: 3
Level: P5
Medium of Instruction: English
Keyword Syllabus:
Experimental method of inquiry. Markets institutions & efficiency experiments. Asset market experiments. “Fairness” norms & reciprocity based experiments. Public choice experiments. Public policy experiments. Asymmetric information experiments.
Teaching Pattern:
Duration of course: 1 Semester
Current mix of lecture/tutorial/laboratory, other: 2 hrs. lecture and 1 hr. tutorial/experimental lab session per week
Assessment Pattern:
Examination duration: 3 hours
Percentage distribution of marks for coursework, examination, other: 70% CW and 30% exam
Grading pattern: Standard (A+AA-...F)
Pre-requisite(s):
EF5471 (for taught postgraduate students)
EF8070 (for research degree students)
Pre-cursor(s):
Some knowledge of game theory and statistics.
Equivalent Course(s): Nil