Behavioural Economics

On Monday, our Year 11 Economics students visited Westfield Southland Shopping Centre to explore real-world applications of behavioural economics theory. 

The excursion provided a valuable opportunity to observe how behavioural biases influence consumer decision-making in everyday environments.

As part of their Unit 1, Area of Study 3 (AOS3), students were tasked with identifying and photographing various marketing techniques that reflect key concepts of behavioural economics. This hands-on investigation supports their preparation for the upcoming AOS3 School-Assessed Coursework (SAC).

Students worked in small groups as they navigated the centre, engaging thoughtfully with their surroundings and gathering insightful examples. Of course, they also took the opportunity to relax and enjoy lunch together in the food court!

Kirsten WilsonTeacher: VCE Economics