RES-ECON 440-01: Experimental Economics

Example syllabus only – exact content subject to change. Please see your instructor’s syllabus for the current term for your specific course’s guidelines

Experimental Economics (Tentative)

Res Econ 440-01 (84311)
Spring 2026

Instructor

Dr. Xiaoxue Sherry Gao
Office: 217B Stockbridge Hall
Office Hours: Thursday 5:00 PM–6:45 PM
Email: [email protected]

Teaching Assistant

Office: TBD
Office Hours: TBD
Email: TBD

Email Expectations

1. Allow a reasonable amount of time for the instructor or TA to reply to your emails: 24 hours on weekdays and 48 hours on weekends.
2. Please use your UMass email address (@umass.edu). Emails concerning this class will be sent to your UMass address, so please check it regularly.

Course Logistics

Class Time: Tuesday & Thursday, 11:30 AM–12:45 PM

Class Locations:

• Stockbridge Hall Room 301
• The Willis Lab (Stockbridge Hall Room 124)
• Zoom Lab: https://umass-amherst.zoom.us/j/99642777261

Course Website: Canvas

Prerequisites: You must have completed Res-Econ 202 or Econ 203 to enroll in this course.

Textbook (required): Markets, Games, and Strategic Behavior by Charles Holt (2nd Edition)

Other Textbooks (Optional): These are especially recommended for students who intend to run experiments as part of a master’s or PhD program.

• An Introduction to Game Theory by Martin J. Osborne (2004)
• Behavioral Game Theory by Colin Camerer (2003)
• The Handbook of Experimental Economics by Kagel and Roth (2003)
• Experimental Methods by Friedman and Sunder (1994)

Course Objectives

The purpose of this class is to introduce the methodology of experimental economics and its application to game theory and other important economic problems. Economics is fundamentally the study of how individuals, firms and governments allocate scarce resources. Experimental economics examines these decisions in a controlled setting, either in the laboratory or in the field. The techniques of Experimental Economics are used for a myriad of purposes. Roth (1995) in the introduction to the Handbook of Experimental Economics categorizes these as “Speaking to Theorists”, “Searching for Facts”, and “Whispering in the Ears of Princes” (p. 22). We will focus on “Speaking to Theorists” – how the decision making of real economic agents relates to theory and “Whispering in the Ears of Princes” – the implications for public policy. When students complete this class, they will be expected to understand how individuals make decisions in a wide range of situations.

Instruction Methods

This is an upper-level class, and it will require more responsibility from you than many of your lower-level classes. We will have two types of classes: the lab sessions and the discussion sessions. The semester concludes with presentation and submission of term projects in which you apply the methods to solve a specific economics problem.

• The lab sessions will typically take place at the Zoom Lab and will involve your participation in various experiments.
• The discussion sessions will take place in the physical classroom (online attendance may be granted on a case-by-case basis).

Please refer to the schedule at the end of this syllabus and attend classes as indicated in the schedule. You are responsible for following the schedule in terms of where to attend class, there will be no separate notifications unless we deviate from the schedule.

Your participation in these lab sessions is fundamental to your understanding of the material, and your impressions of the experiment will be a vital part of the discussion sessions. The participation evaluation is both based on showing up on time and participating in the lab sessions, as well as participating in classroom discussions.

In addition, you will be required to keep a journal of your experiences in the lab and your reading of the corresponding textbook chapters. The entry for each lab journal will be due at the beginning of the discussion session following the lab session. This journal should include the following and a blank template will be given

• Describe what you thought about the experiment
• Discuss why you made the choices you did after completing the instructions, during the actual rounds of the experiments
• Reflection after the experiment was completed and you have had some time to think about it
• What you learned after reading the corresponding textbook chapter.

Evaluation

Grading will be based on participation, learning journals and a term project presentation as described below (the weight towards final grade is noted in the brackets):

• Participation [10%]: showing up on time and participating in the lab sessions (5%), as well as participating in classroom discussions (5%).
• Learning Journal [30%]: Learning Journals should be typed and are due BEFORE the ensued discussion session. Unless otherwise approved on a case-by-case basis, you submission will only be allowed if you have participated the related lab session. Late submission within a week will only receive 3/5 of your grade for that submission. Late submission more than a week will receive 0.

Requirements of the learning journal and a template can be found on Canvas. Submissions should be made through Canvas, and I will accept email submissions only when you experience technical problems with Canvas submission.

• Term Project [60%]: The terms project can be completed in groups up to three (individual project is allowed but discouraged). Groups will be formed and registered with the instructor a week after the add/drop period ends and can be changed throughout the course with reasons of change provided to the instructor. Members within the same group will receive the same grade on the term project but will provide a summary of individual contributions. See “Project Guidelines” on Canvas for more details.

Minimum Grade Cutoffs

• 95 = A
• 85 = A–
• 80 = B+
• 75 = B
• 70 = B–
• 65 = C+
• 60 = C
• < 60 = F

Classroom Decorum

Please show respect towards me and your fellow students, and let’s work together to have a classroom that is conducive to learning by following the following rules:

1. TURN OFF YOUR CELL PHONE! If you are on call for work, please let me know in advance and put your phone on silent. No texting during class – it is not as quiet as you think.
2. You are welcome to use computers to take notes. However, if you are caught doing other stuff during class time, then you will be asked to turn off your computer.
3. No negative language, please (no racist, sexist, homophobic remarks, or in other ways that are insensitive to your fellow classmates).
4. Show up on time, and don’t leave early. Wait for the class to be formally dismissed before you start to pack up your things or get up to leave.
5. Avoid other unnecessary distractions: private conversations, reading newspapers, working on assignments for other classes, eating, sleeping, etc.
6. If you are having trouble with something, please email or come see me.
7. When in class, participate and have FUN! Economics is an awesome field, and we are going to be learning some very powerful tools this semester.

Disability Statement

The University of Massachusetts Amherst is committed to making reasonable, effective and appropriate accommodations to meet the needs of students with disabilities and help create a barrier-free campus. If you are in need of accommodation for a documented disability, register with Disability Services to have an accommodation letter sent to your faculty. It is your responsibility to initiate these services and to communicate with faculty ahead of time to manage accommodations in a timely manner. For more information, consult the Disability Services website at http://www.umass.edu/disability/.

Academic Honesty Policy Statement

Since the integrity of the academic enterprise of any institution of higher education requires honesty in scholarship and research, academic honesty is required of all students at the University of Massachusetts Amherst.

Academic dishonesty is prohibited in all programs of the University. Academic dishonesty includes but is not limited to: cheating, fabrication, plagiarism, and facilitating dishonesty. Appropriate sanctions may be imposed on any student who has committed an act of academic dishonesty. Instructors should take reasonable steps to address academic misconduct. Any person who has reason to believe that a student has committed academic dishonesty should bring such information to the attention of the appropriate course instructor as soon as possible. Instances of academic dishonesty not related to a specific course should be brought to the attention of the appropriate department Head or Chair. The procedures outlined below are intended to provide an efficient and orderly process by which action may be taken if it appears that academic dishonesty has occurred and by which students may appeal such actions. Since students are expected to be familiar with this policy and the commonly accepted standards of academic integrity, ignorance of such standards is not normally sufficient evidence of lack of intent.

For more information about what constitutes academic dishonesty, please see the Dean of Students’ website: http://umass.edu/dean_students/codeofconduct/acadhonesty/.

Course Schedule

This is a tentative schedule and may change throughout the semester.