Experimental Economics 2400-INTER-EZE-OG

The course was conceived as an introduction to economics for students of non-economic majors. The aim of the course is to show the usefulness of economic analysis in various fields. This goal can only be achieved if the students learn through their own experience, and not through passive absorption of theories, how economics works. The economic experiment is a good tool to achieve this goal. The methodology of conducting economic research created by the experimental economy will be used in these classes.

The form of classes:
The proposed activities will consist of three parts:
i) An experiment illustrating a given economic problem. Experiments will be carried out every two weeks on Tuesday at 18:30. The presence in the experiment will be part of the assessment.
ii) Explanation of observed behaviour in the experiment. The theory behind the experiment will be presented in the online lecture. The lecture will be recorded every two weeks, and the presence is not required.
iii) Discussion of the results of the experiment and economic theory. Students can comment on experiments on the economic theory presented in the forum. These comments will be evaluated.

Technical requirements.
Most experiments will be conducted online using the LabSEE program. Due to the characteristics of the program, students must have a stable, well-functioning internet connection.

The range of topics covers two types of issues:

1) Analysis of the economic behaviour of individuals

• rationality testing
• choice in conditions of uncertainty
• interaction and game theory

2) The market and its imperfections
• Different models of the market.
Perfect competition
• monopoly
• rent-seeking,
• public goods, etc
Market and non-market exchange forms: barter exchanges, auctions, tenders

The course will be host: https://elearning.wne.uw.edu.pl/

Type of course

general courses

Course coordinators

Tomasz Kopczewski

Learning outcomes

KNOWLEDGE
Student:
• understands economic mechanisms and recognizes them in everyday life.
• is able to recognize the complexity of socio-economic relations and treats the economy as a complex system.
• knows the methodology of experimental research in social sciences

SKILLS
Student:
• can repeat simple economic experiments.
• is able to compare the influence of economic mechanisms and social norms on economic efficiency
• can find a connection between observable behaviour and economic theory.

ATTITUDES
• can combine economic knowledge with professional work and other fields of social sciences and mathematics.
• understands the need to have "science curiosity"

Assessment criteria

During the course, students collect points for their activity on the e-learning platform and take part in experiments and projects. During the oral exam, all points will be added together, and the final grade will be issued based on the activity and the knowledge presented.

Bibliography

Friedman, D., Caspar, 2004, A., Economics; Lab An intensive course in experimental Economics, Rudledge, London

Additional information

Information on level of this course, year of study and semester when the course unit is delivered, types and amount of class hours - can be found in course structure diagrams of apropriate study programmes. This course is related to the following study programmes:

Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system:

Description of 2400-INTER-EZE-OG in USOSweb