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Rationality, Morality & Economics - PEP00002H

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  • Department: Philosophy, Politics and Economics
  • Module co-ordinator: Prof. Christian Piller
  • Credit value: 20 credits
  • Credit level: H
  • Academic year of delivery: 2023-24

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.

Assessment

Task Length % of module mark
Online Exam -less than 24hrs (Centrally scheduled)
4 hour Open Exam		 4 hours 100

Special assessment rules

None

Reassessment

Task Length % of module mark
Online Exam -less than 24hrs (Centrally scheduled)
4 hour Open Exam		 4 hours 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.


The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.