Assessment Overview
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Individual or Group
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Individual
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Word or time limit
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The potential topics for this essay are discussed during class sessions.The essay has a word limit of 2000 words.Essays of less than 2000 words will not be penalised.In cases where it is clear that the limit has been exceeded,only the first 2000 words willbe marked.
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Requirements for successful completion of this assessment item
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You must achieve a minimum of 50%in order to pass this assessment item.
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Generative Al use
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Generative Al tools cannot be used in this assessment task
In this assessment,you must not use Generative Artificial Intelligence(GenAl)for any elements of the assessment task including the generation of any materials or content in relation to the assessment item.
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Assessment 2:Description
ASSESSMENT ITEM2: DESCRIPTION This assessment intends to test the student's ability to design a validation experiment for two competing economic models.
Useful Information The potential topics for this essay are discussed during class sessions. The essay has a word limit of 2000 words.Essays of less than 2000 words will not be penalised.In cases where it is clear that the limit has been exceeded,only the first 2000 words will be marked.
The essay has two parts:
Part A of Essay-Theoretical overview: Describe the chosen topic and explain why-from a theoretical point of view-both models predict different outcomes. This section should end with: H0: standard economics model vs H1: behavioural economics model.
Part B of Essay-Experimental design: Design an experiment that can be used to test the above formulated hypothesis. Give a detailed description of the experiment and explain how the experiment will allow you to test your hypothesis if conducted. No need to do the experiment; only describe it. Instructions Select a topic that divides proponents of the'standard economic model'and proponents of the'behavioural economics model'. That is, if an experiment were conducted, to understand human behaviour in this topic area,both models would predict different outcomes.