EXPERIMENTAL ECONOMICS
| Title | ΠΕΙΡΑΜΑΤΙΚΑ ΟΙΚΟΝΟΜΙΚΑ / EXPERIMENTAL ECONOMICS |
| Code | 12ΕΗ10 |
| Faculty | Social and Economic Sciences |
| School | Economics |
| Cycle / Level | 1st / Undergraduate |
| Teaching Period | Winter |
| Coordinator | Konstantinos Papadopoulos |
| Common | Yes |
| Status | Active |
| Course ID | 600003603 |
Programme of Study: UPS School of Economics (2013-today)
Registered students: 29
| Orientation | Attendance Type | Semester | Year | ECTS |
|---|---|---|---|---|
| OIKONOMIAS | Elective Course belonging to the selected specialization (Elective Specialization Course) | 8 | 4 | 3 |
| DIOIKĪSĪ EPICΗEIRĪSEŌN | Elective Courses belonging to the other | 8 | 4 | 3 |
| Academic Year | 2021 – 2022 |
| Class Period | Spring |
| Faculty Instructors | |
| Weekly Hours | 3 |
| Class ID | 600190918
|
Class Schedule
| Building | Αμφιθέατρο ΝΟΕ |
| Floor | Όροφος 1 |
| Hall | ΑΙΘΟΥΣΑ 2 (160) |
| Calendar | Τρίτη 14:00 έως 17:00 |
Course Type 2021
Specialization / Direction
Course Type 2016-2020
- Scientific Area
Course Type 2011-2015
Specific Foundation / Core
Mode of Delivery
- Face to face
Digital Course Content
- e-Study Guide https://qa.auth.gr/en/class/1/600190918
- At the Website of the School: http://users.auth.gr/kpap/indexfiles/exp/exp.htm
- eLearning (Moodle): https://elearning.auth.gr/course/view.php?id=8706
Erasmus
The course is also offered to exchange programme students.
Language of Instruction
- Greek (Instruction, Examination)
- English (Examination)
- French (Examination)
Prerequisites
General Prerequisites
It is desirable but not necessary that the student has attended classes of microeconomics, macroeconomics, international trade, finance, game theory, management, statistics/data analysis.
Learning Outcomes
After succesful completion of this class, thw students will be able to:
- understand the methodology of experimental classroom design
- design their own experiments
- analyse the results of classroom experiments
- compare their results with economic theory and practice
- understand the role of economics as a discipline in behavioral sciences
- understand the functioning of markets and firms, through active participation as decision makers in various classroom experiments
General Competences
- Apply knowledge in practice
- Retrieve, analyse and synthesise data and information, with the use of necessary technologies
- Adapt to new situations
- Make decisions
- Work autonomously
- Work in teams
- Work in an interdisciplinary team
- Generate new research ideas
- Be critical and self-critical
- Advance free, creative and causative thinking
Course Content (Syllabus)
Students will be asked to participate in a series of experiments as decision makers. There will be statistical analysis of experemental data and presentation of the relevant theory. Comparison of experimental results with theory predictions. In particular
Week 01 : Introduction to Experimental Economics
Week 02 : Demand and Supply
Week 03 : Stock and bond market values
Week 04 : Simple and Double Auctions in
Week 05 : The role of price ceilings
Week 06 : Bargaining games
Week 07 : Credit risk
Week 08 : The winner's curse
Week 09 : Industrial Organization
Week 10 : Social Preferences, Altruism
Week 11 : The take over game
Week 12 : Experimental Design Methodology I - Introduction to Z-tree
Week 13 : Revision
Keywords
classroom experiment, economic behavior, behavioral economics
Educational Material Types
- Notes
- Slide presentations
- Multimedia
Use of Information and Communication Technologies
Use of ICT
- Use of ICT in Course Teaching
- Use of ICT in Laboratory Teaching
- Use of ICT in Communication with Students
- Use of ICT in Student Assessment
Description
On the elearning.auth.gr platform all material including experimental results will be available to students.
Course Organization
| Activities | Workload | ECTS | Individual | Teamwork | Erasmus |
|---|---|---|---|---|---|
| Lectures | 60 | 2.1 | ✓ | ||
| Written assigments | 24 | 0.9 | ✓ | ✓ | |
| Total | 84 | 3 |
Student Assessment
Description
Participation in experiments is compulsory for this elective course. Compulsory assignment.
Student Assessment methods
- Written Assignment (Summative)
- Performance / Staging (Summative)
Bibliography
Course Bibliography (Eudoxus)
Σημειώσεις του διδάσκοντα.
Additional bibliography for study
Experimental Economics: Volume I: Economic Decisions, P. Branas-Garza, A. Cabrales, 2015
Experimental Methods: A Primer for Economists, Daniel Friedman, 1995
Experimental Economics: How We Can Build Better Financial Markets, Ross M. Miller, Vernon L. Smith, 2005
Experimental Economics, Douglas D. Davis,Charles A. Holt, 1994
Experimental Economics: Rethinking the Rules, Nicholas Bardsley, 2009
Behavioral game theory: experiments in strategic interaction, Camerer Colin, 2003
Advances in Behavioral Economics Colin F. Camerer and George Loewenstein, 2003
The Handbook of Experimental Economics, John H. Kagel, Alvin E. Roth, 1995
Behavioural and Experimental Economics (The New Palgrave Economics Collection), S. Durlauf, L. Blume, 2009
The Methodology of Experimental Economics, Francesco Guala, 2005
Last Update
24-02-2022
