NBS8615 : Experimental Methods in Economics
- Offered for Year: 2024/25
- 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 Study | Assessment preparation and completion | 64 | 1:00 | 64:00 | N/A |
| Scheduled Learning And Teaching Activities | Lecture | 14 | 2:00 | 28:00 | Present-in-person |
| Guided Independent Study | Directed research and reading | 50 | 1:00 | 50:00 | N/A |
| Scheduled Learning And Teaching Activities | Small group teaching | 8 | 1:00 | 8:00 | A mix of in-class experiments and feedback on student project (PiP) |
| Guided Independent Study | Independent study | 50 | 1:00 | 50:00 | N/A |
| Total | 200:00 |
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 |
|---|---|---|---|---|
| Report | 2 | M | 100 | 4,000 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 exercises | 2 | M | Questions 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
- Timetable Website: www.ncl.ac.uk/timetable/
- NBS8615's Timetable