Reference no: EM133671206

Reflective Essay

Instruction:
After actively participation in the experimental tasks you are now tasked with composing a reflective essay. Make sure to go through Rubric at the end of this document. This essay should include your knowledge, relevant concepts and theories from the tutorial notes and two primary components:

1. Analysis of Your Decision-Making:
Reflect on your individual responses and decisions throughout the first six experimental tasks and the corresponding survey questions. Consider the rationale behind your choices and how they align with both standard economic theories and behavioural economics concepts.

2. Insights into Economic Behaviour:
Draw insights from the individual/collective results of the experiments, shedding light on the behaviours exhibited by yourself and your peers. Analyse patterns, trends, and deviations observed within the group dynamics. Evaluate how these findings intersect with behavioural concepts and theories discussed in the lectures and tutorials.
Essay Guidelines:
• Your essay should be structured logically, with clear introductory and concluding sections framing your reflections.
• Incorporate relevant concepts and theories from Lectures 1 - 3 to support your analysis.
• Emphasise critical thinking and articulate your observations thoughtfully, providing reasoning and evidence to substantiate your viewpoints.
• Aim for clarity and coherence in your writing, ensuring that your arguments are easy to follow and understand.
• Remember that reflective writing is an opportunity to express your opinions and insights, so feel free to engage with the material creatively and constructively.
Please include a word count at the end of your assignment. Marks will be deducted at a rate of 2 marks per 80 words over the limit. There is no penalty for going under the word limit.

Structure for Assessment 1 Reflective Essay

• Title+ Student Name /ID +Word Count
• Table of Contents (not included in the word count)

Below are some guiding questions to prompt your analysis of your decision-making process and insights gained during the experiments.

These questions serve as starting points, but feel encouraged to explore additional relevant aspects based on your individual experience:

•Analysis of Your Decision-Making

1. Reflect on your responses to the experimental tasks and survey questions. Reflect on the considerations that influenced your
decisions during the experiments.

2. How do your decisions align with standard economic theories, if at all? Can you identify any instances where your behaviour deviated
from these theories?

3. Were there notable differences in your decision-making process between the survey questions and the actual experiments? How do
you account for these differences?

• Insights into Economic Behaviour:

Both about yourself and others that you gathered from the results
of the experiment.

1. What insights did you gain about yourself and others from the results
of the experiments? Did the collective behaviour of the group
surprise you in any way?

2. Using the available data or theoretical frameworks, what predictions
did you make about the outcomes of the experimental tasks prior
knowing the results? How did these predictions compare to the
actual results?

3. Reflect on the insights learned from each experimental task. What
did you uncover about our behaviour, decision-making process, and
strategic considerations.

• Conclusion

• References (not included in the word count)
(Mainly from slides/ Essential &Additional reading lists)