Units

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Sample subject outline - Semester 1 2012

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

This unit is designed to expose you to current and practical applications of behavioural economics that can be used to improve the understanding of important topics in the area of sports, arts and entertainment. It teaches you about the economic paradigm, involving very basic but powerful tools to understand ubiquitous human behaviour exploring topics such as fadsand herding behaviour, favouritism, pressure, pay and performance, positional concerns, and outcome uncertainty. The theories and methodological tools learned in this unit can also be applied to other economic areas and industries.

Aims

The unit will show the power of economics to illuminate individual behaviour, group interactions and institutions in an interesting and approachable setting. The unit also promotes inter-disciplinarity by implementing concepts developed in the area of management, psychology, sociology and political sciences using the economic way of thinking as the theoretical foundation.

To apply economic principles to examine the nature and extent of human and group behaviour in the sports, arts and entertainment industry.

To understand how the sport, arts and entertainment industry can be seen as an expression of rational human action subject to relevant (industry) constraints, showing the explanatory power of economics in these areas.

To understand applied behaviour economics, the methods employed, the tools used and how to derive valuable conclusions out of it.

To use the example of sporting and entertainment competitions as a means to understand the ideas and hypotheses which are more generally applicable in economics.

To develop policy implications in a large variety of practical cases.

Objectives

Course Learning Goals (Undergraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:

Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context

Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue

Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences

Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output

Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding

Unit Objectives
Upon completion of this unit, you should:

1. be able to apply an economic approach to understand human behaviour in a variety of contexts and situations;
2. have a good understanding of the sports, arts and entertainment industry;
3. understand the management of team production and social interaction processes;
4. be familiar with methodological tools used in the area of behavioural economics such as experiments and be able to use economic tools in an interdisciplinary manner;
5. be able to develop your own ideas regarding how to analyse issues in the area of sports, arts and entertainment. In other words, you should be able to use the formal tools provided through coursework to explore new avenues of problems and issues;

The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.

Content

Key topics are:

Behavioural conomic theories

Stategic Interaction. Behavioural game Theory

Risk and uncertainty

Other Regarding Preferences

Individual incentives and costs in sports performance

Positional concerns

The sports business as a labour market laboratory (economics lab)

Income distribution, fairness and social interactions

Betting and gambling

Outcome uncertainty and competition

Fashion, fads and herding behaviour

Approaches to Teaching and Learning

The unit provides a reliable pool of theory, data and experience with which to develop and test hypotheses of general economic interest and to provide policy implications arising from these findings. It also acknowledges the far-reaching applicability of economic tools by implementing an inter-disciplinary approach.

The unit will be delivered in weekly three-hour lecture/tutorial blocks comprising formal lecture and discussion formats. Relevant additional readings will be placed on the Course Materials Database (CMD).

In accordance with QUT policy, all units are to be subject to Criterion Referenced Assessment (CRA). The unit coordinator will provide students with further details regarding CRA during the course of the semester during class and on the unit's Blackboard site.

Assessment

Students will receive feedback in various forms throughout the semester which may include:

Informal: worked examples, such as verbal feedback in class, personal consultation

Formal: in writing, such as checklists (e.g. criteria sheets), written commentary

Direct: to individual students, either in written form or in consultation

Indirect: to the whole class

Assessment name: Midterm Examination
Description: The midterm examination will consist of multiple choice questions. The exam will test student's knowledge and understanding of lecture and tutorial content up to this point. All materials covered during the first half of the semester will be examinable. The higher the level of knowledge and understanding, the higher will be the grade.
Length/Duration: 1 hours working + 10 minutes perusal
Formative or Summative: Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4, 5 and AoL goals: KS (1.1) and CTA (2.1)
Weight: 40%
Internal or external: Internal
Group or individual: Individual
Due date: Week 7

Assessment name: Examination (written)
Description: The midterm examination will consist of multiple choice questions. The exam will test student's knowledge and understanding of lecture and tutorial content up to this point. All materials covered during the first half of the semester will be examinable. The higher the level of knowledge and understanding, the higher will be the grade.
Length/Duration: 1 hours working + 10 minutes perusal
Formative or Summative: Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4, 5 and AoL goals: KS (1.1, 1.2) CTA (2.1) and PC (3.1)
Weight: 60%
Internal or external: Internal
Group or individual: Individual
Due date: Central Exam Period

Academic Honesty

Academic honesty means that you are expected to exhibit honesty and act responsibly when undertaking assessment. Any action or practice on your part which would defeat the purposes of assessment is regarded as academic dishonesty. The penalties for academic dishonesty are provided in the Student Rules. For more information you should consult the QUT Library resources for avoiding plagiarism.

Resource materials

Resource Materials:
Nick Wilkinson (2008), Introduction to Behavioral Economics, Palgrave McMillan

Recommended Reading
Additional reading will be provided on blackboard and the CDM.

Experimental Economics:
Colin Camerer, Behavioral Game Theory: Experiments in Strategic Interaction, The Roundtable series in behavioral economics (Princeton, N.J.?; Woodstock, U.K: Princeton UniversityPress, 2003).
Daniel Friedman and S. Shyam Sunder, Experimental Methods: A Primer for Economists (Cambridge [England]: Cambridge University Press, 1994).
Alvin E Roth and John H Kagel, eds., The Handbook of Experimental Economics (Princeton, N.J: Princeton University Press, 1995). (Chapter 1,2,3,4)

Risk assessment statement

There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 20-Feb-2012