Econ 440: Experimental EconomicsLecture 1Prof Marco CastilloTexas A&M UniversityJanuary 13, 2020Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 1 / 31Howdy!Howdy!Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 2 / 31Administrative DetailsAdministrative DetailsCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 3 / 31Administrative DetailsWho I Am◮My name: Prof. Marco Castillo◮My contact info◮[email protected]◮LASB 222, OH: Monday 4:30-5:30pm (or email me)◮A little about me◮Born in Lima, Peru◮Catholic Univeristy undergraduate (econ), Wisconsin PhD (econ)◮Research interests: public and labor economics, appliedmicroeconomics, behavioral and experimen ta l economi csCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 4 / 31Administrative DetailsWho You Are◮Introduce yourselves◮First and last name◮Major(s)◮Where you’re from◮Poll: how many have taken Econ 323 (intermediate micro)?Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 5 / 31Administrative DetailsHow Class Time will be Spent◮Start with follow-up from previous lecture and discussion board posts(eCampus)◮In-class exercises◮Experiments on MobLab, verbal, or on paper◮Lecture◮I will post lecture slides, so don’t worry about writing everything down◮Be prepared for me to ask you questions◮Technology may be required for in-class experiments, but otherwise:◮No cell phones◮Laptops and tablets only for note-taking◮Highly encourage writing notes by handCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 6 / 31Administrative DetailsWhat You Should be Reading◮Thinking Fast and Slow, Daniel Kahneman, 2011◮Markets, Games, and Strategic Behavior, Charles Holt, 2019◮Assigned research articles, press articles and book chapters◮My lecture slides◮Only some readings are requiredCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 7 / 31Administrative DetailsWhat is Expected of You◮Do the required reading (one or two items) for our upcoming classmeeting.◮Post a bout one of the required readings on eCampus discussion forumno later than 8:00 pm the night before the upcoming lecture.◮Comment on at least one of your cl a ssm ate ’ s posts in advance ofeach lecture.◮Participate in class discussion and in-class experiments◮Turn in problem sets on time◮Complete research proposal i de a brief, presentation and paper◮Complete two examsCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 8 / 31Administrative DetailsWhat You Should Expect of Me◮I will assign readings for each class meeting.◮I will give lectures on each topic and post my lecture slides for review.◮I will write, grade, and give solutions for problem sets and the exams.◮I will give feedback on your research proposal idea, presentation andpaper.◮I will be available for you duri ng my office hours.Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 9 / 31Administrative DetailsHow Your Grade is DeterminedAssignment Weight (pct)Posting and commenting in discussion forum 25Participation in classroom discussions and experiments 10Problem Sets 20Exam 1 10Exam 2 10Research Proposal P re se nta ti on 5Research Proposal Paper 20Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 10 / 31Administrative DetailsGrading Scales◮For some components of the course, I will use points for grading(0-100)◮Some assignments will receive an even simpler scale: ch ec k- mi n us(70), check (85), or check-plus (100).Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 11 / 31Administrative DetailsDiscussion Board Posts◮Write a post on eCampus about each of the assigned readings◮At least 100 words◮Due by 8:00 pm night before lecture◮Content can be anything you want: see syllabus for suggestions◮Comment on classmate’s post◮Any length◮Grading: Check scale.◮To receive a check-plus:◮Post is at least 100 words◮Post is thoughtful and does not summarize the reading or give approval(i.e. “I liked the reading...”)◮Also comment on another student’s post.Castillo (TAMU) Econ 440 Lecture 1 January 13, 2020 12 / 31Administrative DetailsPart ici pa ti on◮Expected to ask and answer questions duri n g lectur e◮Expected to participant i n cla ssr oom exercises and experiments◮Will occur during most meetings◮May be on MobLab, on paper, or verbal◮You must be present in class to parti c i pa te. Cannot do so remotely.◮Score will be calculated from participation in these exercises, notperformance, in class discussions and attendance◮Grading: points◮To receive a 90 or higher , you should aim to make some kind ofcontribution in nearly every lectureCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 13 / 31Administrative DetailsProblem Sets◮Send out problems along with their due date via eCampus◮Highly encouraged to work in groups, but everyone must turn in theirown problem set◮Can be hand-written or typed◮Problem sets are due by 5:00 pm on d u e date◮Problem sets may be handed in at end of class or slipped under myoffice door (222 LASB)◮Grading: Check scale, at the problem level.◮A che ck -p l u s on a problem means that you fully answered each part,though minor errors and a lge bra mistakes are permittedCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 14 / 31Administrative DetailsResearch Proposal◮Give a short presentation proposing a novel research idea usi ngexperimental m eth ods at end of semester (April 15/20)◮Short paper due on this proposal a t the end of the semester (A pril 29)◮Proposal idea brief due several weeks prior to presentation (March 25)◮Research projects will be done in teams of 4 students◮Details on both of these items will be forthcomingCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 15 / 31Administrative DetailsExams◮There will be two in-class exams (75 minutes)◮Exam 1 (Feb 26) and Exam 2 (April 22)◮If you have done the course readings, participated in discussions, andmastered the problem sets, you should be well-prepared for th e examsCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 16 / 31Administrative DetailsDisability Resources◮Contact Disability Services◮471 Houston Street◮(979) 845- 1637◮Please send me an accommodation lette r as soon as possible◮No later than 48 hours before due date/exam dateCastillo (TAMU) Econ 440 Lecture 1 January 13, 2020 17 / 31Administrative DetailsWhat This Course is About◮Introduction to behavioral and experimental economics◮Behavioral economics◮Study of huma n behavior that falls