Use the Tab and Up, Down arrow keys to select menu items.
This course will provide students with an in-depth treatment of this increasingly popular method for testing and stimulating economic theory. The course aims to equip students in three main areas: to become familiar with experimental methods; learn some major areas of applications; and critically evaluate the potential and limitations of laboratory experimental research.
Economics 668 is an advanced course in experimental economics research methods. This course will provide students with an in-depth look at using randomized experiments to establish causal effects in economics and finance. Traditionally, economics and finance research has sought to test the predicted effect of a policy change on an outcome of interest using observational or survey data from households, firms, stock exchanges, or public organizations. Such tests face stringent challenges of identification – the need to control for reverse causation, or the effect of unobserved third factors on both the policy change and outcome of interest. Randomized experiments require instead that the researcher can assign agents across treatment conditions. Experiments are conducted in the lab, the field, or more recently alongside “natural experiments” such as policy changes.The course aims to equip students in three ways: 1) to become familiar with principles of sound experimental methods, 2) learn some major areas of application in economics and finance, and 3) critically evaluate the potential and limitations of randomized experiments. Regarding methods, we will discuss experimental design and common statistical techniques for analysing results, including standard panel regression techniques but also nonparametric tests. Applications will be discussed in areas such as: voluntary public good provision, bargaining, financial markets and behavioural finance, environmental economics, and individual choice under uncertainty. Finally, students should learn to critically analyse the strengths and weaknesses of individual experiments, and more generally the extent to which we can use the results of lab, field or hybrid field/natural experiments to predict the behaviour of real world markets and people.
Through their work in this course, students are expected to be able to:1. discuss sound experimental methods in economics and finance2. apply experimental methods to relevant application areas in economics and finance3. critically evaluate the potential and limitations of laboratory experimental research in general4. critically evaluate the potential and limitations of specific experiments5. communicate the findings of critical evaluation in written and oral form
Subject to approval of the Head of Department.
Students must attend one activity from each section.
Jeremy Clark
Please note: the ‘45% rule’ does not apply to this course. Students do not need to reach 45% weighted average across invigilated assessments. (See https://learn.canterbury.ac.nz/course/view.php?id=7744).Guidelines for the Use of AI in CourseworkThe use of AI may or may not be permitted in courses. Within a course, permission may vary by assignment. It is the responsibility of the student to inform themselves about assessment conditions and submit work that is their own and that properly acknowledges the work of other people and tools, including generative artificial intelligence tools.It is important to familiarise yourself with the UC Misconduct Procedure Guide for Students. Examples of academic misconduct include, but are not limited to:“Where a student uses a generative artificial intelligence (AI) tool for an assessment in a manner that is not expressly permitted or fails to acknowledge the use of a generative AI tool as instructed.”I recommend against students using AI for Assignment 2 and Assignment 3/Oral Presentation, so that they can develop their own transferrable summarizing- and critical evaluation skills. Nonetheless, students may choose to use it (as long as they acknowledge it). The following conditions thus apply to ECON668 Assignment 2 and Assignment 3/The Oral Presentation: Assessment In Te Reo MāoriIn recognising that Te Reo Māori is an official language of New Zealand, the University provides for students who may wish to use the Te Reo Māori in their assessment. If you intend to submit your work in Te Reo Māori you are required to do the following: Read the Assessment in Te Reo Māori Policy and ensure that you meet the conditions set out in the policy. This includes, but is not limited to, informing the Course Coordinator 1) no later than 10 working days after the commencement of the course that you wish to use Te Reo Māori and 2) at least 15 working days before each assessment due date that you wish to use Te Reo Māori.
There is no textbook for the course. Instead, readings will be made available on a week-by-week basis on LEARN.
Domestic fee $1,130.00
International Postgraduate fees
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .