Module Directory

This postgraduate module equips students with the tools to critically access experimental methods commonly used in economics.

Students will put their theoretical knowledge into practice, learning how to design experiments and interpret their results. For this, students will be grouped into teams who will collaborate to design an experiment and present it in class. Students will also critically assess another group's experimental design.

The aim of this module is:

• To introduce students to experimental methods in economics with a focus on issues and principles of experimental design.

By the end of this module, students will be expected to be able to:

1. Demonstrate knowledge of the foundations and assumptions of experimental methods in economics.


2. Demonstrate an understanding of the key concepts and terminology used in experimental research.


3. Critically evaluate the strengths and weaknesses of applying experimental methods in economic research.


4. Demonstrate understanding of and apply basic principles of experimental design, conduct and analysis.


5. Demonstrate ability to critically evaluate experimental designs.

With a growing interest in behavioural considerations, experiments are increasingly used not only in psychology, but also economics and political science. Recognizing the value of controlled variation to study causal relationships, large companies also increasingly use "A-B testing".

Syllabus

• Introduction: The motivation of experimental research.
  
  
  
  • Topics: Introduction to experimental methods.
    
    
    
    • Economics as an experimental science.
    
    
    • Strengths and weaknesses of the experimental method.
    
    
    • Field vs. laboratory experiments:- Causality, missing counterfactual and randomization - Induced value theory.
    
    
    
    
  
  
  
  


• Experimental Design
  
  
  
  • Topics:
    
    
    
    • Classical paradigms.
    
    
    • Common treatment variations and their motivations.
    
    
    • Additional design choices such as matching protocol, within vs between designs, repetition and payment methods.
    
    
    • Statistical aspects of experimental design in experimental economics: power calculations, randomization techniques.
    
    
    • Logistics and ethics of experiments
    
    
    
    
  
  
  
  


• Analysis of experimental data.
  
  
  
  • Topics:
    
    
    
    • Hypothesis testing.
    
    
    • Non-parametric tests for matched and independent samples.
    
    
    
    
  
  
  
  


• Presentation of own experimental designs.

This module will be delivered via:

• One 2-hour lecture per week.
• One 1-hour class per week in the Economics department.