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Module

NBS8615 : Experimental Methods in Economics

  • Offered for Year: 2023/24
  • Module Leader(s): Dr Melanie Parravano Baro
  • Lecturer: Dr Matt Walker
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semesters

Your programme is made up of credits, the total differs on programme to programme.

Semester 2 Credit Value: 20
ECTS Credits: 10.0
European Credit Transfer System

Aims

The aim of this module is to provide an overview of the methods used in experimental economics and their applications. Students will learn to critically assess why economists may benefit from conducting experiments and what insights they can provide. They will also be introduced to seminal papers in the field. This module will also equip students with the necessary knowledge and tools to design and conduct their own economic experiments, in line with best practices and conventions.

Outline Of Syllabus

The following list contains an indicative set of topics:

1. Introduction
o Rationale for the experimental method
o Design principles

2. Taxonomy of experiments
o Lab experiments
o Field experiments

3. Seminal market experiments
o Competitive market equilibrium
o Information aggregation

4. Measuring preferences
o Elicitation methods

5. Auctions

6. Experimental games

7. Practical considerations in experimental research
o Pre-registration and replicability
o Econometrics for experimental data

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion641:0064:00N/A
Scheduled Learning And Teaching ActivitiesLecture142:0028:00Present-in-person
Guided Independent StudyDirected research and reading501:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching81:008:00A mix of in-class experiments and feedback on student project (PiP)
Guided Independent StudyIndependent study501:0050:00N/A
Total200:00
Teaching Rationale And Relationship

The modules will be taught using a combination of lectures, seminars, guided reading and classroom experiments, harnessing the Experimental and Behavioural Economics Lab at Newcastle University Business School. There will be an emphasis on research-led teaching and the critical assessment of novel experimental design and results.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Other Assessment
Description Semester When Set Percentage Comment
Report2M1004,000 word individual report
Formative Assessments

Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.

Description Semester When Set Comment
Prob solv exercises2MQuestions about experimental data and feedback on student project will be provided
Assessment Rationale And Relationship

Students will have to write a report where they demonstrate the ability to design, conduct and analyse experimental data.

Reading Lists

Timetable