Rationality, Morality & Economics - PEP00002H
Module summary
Rationality, Morality & Economics focusies on topics of common interest to philosophers and economists. It is informed by the analytical methods of both.
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 2 2023-24 |
Module aims
To explore the main areas of mutual concern to economists and philosophers, especially as relating to rational choice, both individual and collective.
Module learning outcomes
The general learning outcomes can be summarised as an increased understanding of:
· rationality as defined by decision theory and represented by (expected) utility theory
· its connections with morality, such as embodied in the idea of collective rationality
The first part of the module focuses on individual decision-making, and in particular Decision Theory, of which the best known form is Expected Utility (EU) Theory. We explore the EU axioms and look at cases that may be problematic for Decision Theory. The second part of the module focuses on Decision-Theoretic approaches to strategic rationality (in the context of game theory) and collective rationality (i.e. Social Choice), each giving important perspectives on moral behaviour and moral judgments.
Module content
The module comprises six topics divided into two blocks.
Block 1 (Topics 1-3) focuses on the rationality of decision-making by an individual, including under uncertainty.
Block 2 (Topics 4-6) focuses on decisions involving several individuals, including where issues of morality become relevant.
Indicative assessment
| Task | % of module mark |
|---|---|
| Online Exam -less than 24hrs (Centrally scheduled) | 100 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Online Exam -less than 24hrs (Centrally scheduled) | 100 |
Module feedback
Students will receive written timely feedback on their formative assessment. They will also have the opportunity to discuss their feedback during the module tutor’s feedback and guidance hours.
Students will receive written feedback on their summative assessment no later than 25 working days after submission; and the module tutor will hold a specific session to discuss feedback, which students can also opt to attend. They will also have the opportunity to discuss their feedback during the module tutor’s regular feedback and guidance hours.
Indicative reading
Peterson, Martin An Introduction to Decision Theory, Cambridge: Cambridge University Press, 2017.