Students

ECON3062 – Economic Decision-Making and Behaviour

2026 – Session 2, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Lyla Zhang
lyla.zhang@mq.edu.au
Maros Servatka
maros.servatka@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
ECON1020 and (ECON2015 or AFIN2050 or MKTG2002)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit provides fundamental insights into how people think and make decisions, and how altering the decision-making context can have important impacts on their choices. Students will learn how to design and test how the decision-making environment affects choices, influencing outcomes relevant to business, finance, and economic policy. Topics can include: how people make decisions under risk and uncertainty; how small changes in the decision-making environment can enhance cooperation in organisations and personal motivation; and how behaviour is shaped by financial and non-financial incentives. Economic Decision Making and Behaviour provides a unique complement to other Business School units, by facilitating an innovative mindset, improved decision-making and the testing of new ideas.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Apply behavioural insights to formulate informed economic decisions. 
  • ULO2: Critically reflect on how incentives influence behaviour and economic outcomes. 
  • ULO3: Evaluate an array of empirical findings on behavioural phenomena to develop solutions to practical problems. 
  • ULO4: Apply experimental methods to determine whether a proposed solution is effective or not.

General Assessment Information

Late Submission Penalties

If you submit your assessment late, 5% of the total possible marks will be deducted for each day (including weekends), up to 7 days. Submissions more than 7 days late will receive a mark of 0.

Example 1 (out of 100):

If you score 85/100 but submit 20 hours late, you will lose 5 marks and receive 80/100.

Example 2 (out of 30):

If you score 27/30 but submit 20 hours late, you will lose 1.5 marks and receive 25.5/30.

Extensions

Automatic short extension: Some assessments are eligible for automatic short extension. You can only apply for an automatic short extension before the due date.

Special Consideration: If you need more time due to serious issues and for any assessments that are not eligible for Short Extension, you must apply for Special Consideration. Need help? Review the Special Consideration page for further details.

Assessment Tasks

Name Weighting Hurdle Due Groupwork/Individual Short Extension AI Approach
Skills development: Applied problem solving 20% No Week 6- Week 10 Individual No Observed
Professional practice: Experiment and design project 50% No 04/11/2026 Individual Yes Open
Skills development: Behavioural observation diary 30% No 16/10/2026 Individual Yes Open

Skills development: Applied problem solving

Assessment Type 1: Presentation task
Indicative Time on Task 2: 15 hours
Due: Week 6- Week 10
Weighting: 20%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

The purpose of this assessment is for you to develop the ability to apply behavioural concepts to real-world scenarios.
 

You will select a topical case from a provided list and present your analysis in a structured in-class presentation.

Skills in focus: 
  • Critical thinking and problem solving
  • Communication skills
  • Work readiness
  • Global, ethical and environmental citizenship 
  • Discipline knowledge 
Deliverable(s): In-class presentation
 
Individual assessment
On successful completion you will be able to:
  • Apply behavioural insights to formulate informed economic decisions. 
  • Critically reflect on how incentives influence behaviour and economic outcomes. 
  • Evaluate an array of empirical findings on behavioural phenomena to develop solutions to practical problems. 

Professional practice: Experiment and design project

Assessment Type 1: Professional task
Indicative Time on Task 2: 25 hours
Due: 04/11/2026
Weighting: 50%
Groupwork/Individual: Individual
Short extension 3: Yes
AI Approach: Open

The purpose of this assessment is for you to demonstrate your ability to integrate behavioural theory and data to address business decision-making challenges.
 
You will design a behavioural experiment that explores a business-relevant issue and outlines potential policy implications.
 
Skills in focus:
  • Critical thinking and problem solving
  • Collaboration and communication
  • Work readiness
Deliverable(s): Written report [1500 words]
 
Individual assessment
On successful completion you will be able to:
  • Critically reflect on how incentives influence behaviour and economic outcomes. 
  • Evaluate an array of empirical findings on behavioural phenomena to develop solutions to practical problems. 
  • Apply experimental methods to determine whether a proposed solution is effective or not.

Skills development: Behavioural observation diary

Assessment Type 1: Reflection task
Indicative Time on Task 2: 20 hours
Due: 16/10/2026
Weighting: 30%
Groupwork/Individual: Individual
Short extension 3: Yes
AI Approach: Open

The purpose of this assessment is for you to observe the world around them and to reflect on the relevance of behavioural concepts. The task involves students keeping a reflective journal documenting real-life examples of biases or heuristics, drawing connections to lecture content.
 
Students will submit a written reflection on the connection between theory and their collection of real-life examples, discussing possible interventions.
 
You will maintain a reflective journal documenting real-life examples of biases or heuristics, and submit a written reflection on the connection between theory and their collection of real-life examples, discussing possible interventions.
 
Skills in focus:
  • Critical thinking and problem solving
  • Discipline knowledge
Deliverable(s): Written reflection [600 words] 
 
Individual assessment
On successful completion you will be able to:
  • Apply behavioural insights to formulate informed economic decisions. 
  • Evaluate an array of empirical findings on behavioural phenomena to develop solutions to practical problems. 
  • Apply experimental methods to determine whether a proposed solution is effective or not.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • Academic Success for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation.

3 An automatic short extension is available for some assessments. Apply through the Service Connect Portal.

Delivery and Resources

This unit is delivered face-to-face, as a two-hour lecture and a one-hour tutorial each week.

Readings will be assigned and made available via links on iLearn. Please check iLearn regularly for the details.

Unit Schedule

The detailed week schedule will be available on ilearn.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit connect.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Academic Success

Academic Success provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via the Service Connect Portal, or contact Service Connect.

IT Help

For help with University computer systems and technology, visit https://students.mq.edu.au/support/technology/service-desk. 

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Unit information based on version 2026.06 of the Handbook