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Key information
DATA SOURCE : IDP Connect

Qualification type

MSc - Master of Science

Subject areas

Social Economics Behavioural Psychology

Course type

Taught

Course Summary

Behavioural economics applies psychological insights into human behaviour to explain how real people make economic decisions.

Who is it for?

The course is suitable for recent graduates in economics, psychology and related social science or quantitative disciplines who are looking to develop a career in the fast-paced world of behavioural economics, either in the public or private sector.

As the course is offered in full-time and part-time modes, it is also suited to professionals who want to enhance their theoretical knowledge and practical skills and would benefit from an academic environment.

Objectives:

Behavioural economics applies psychological insights into human behaviour to investigate how people make economic decisions under various conditions of constraint (e.g. time and knowledge) and influence (e.g. social pressure). This is an important field in modern economics, and the social sciences more generally.

Commercial organisations have long known the limitations of individual decision making and they routinely use this knowledge in their commercial practices (e.g. anchoring effect of minimum payment on credit cards). The practical implications of behavioural economics are varied and significant, and acknowledged to provide a powerful and cost-effective approach to improving human welfare.

The Behavioural Economics MSc will develop your skills and knowledge to prepare you for a wide variety of roles in the private or public sector that require a solid understanding of human behaviour.

Career prospects:

Whilst there is not yet a specific occupation of 'behavioural economist', the knowledge and skills acquired are highly valuable in a range of sectors:

  • Economic consultants undertaking marketing activities
  • Health economics consultants developing sales/markets for products (from branded medicines to health insurance schemes)
  • Public policy specialist who advises on the choice architecture of decision making (e.g., transport decisions)
  • Political campaigns and public relations more generally
  • General marketing, sales and consumer psychology (preferences, sensitivity to incentives, and default behaviour)
  • Brand awareness consultancies
  • Financial trading and risk assessment
  • Internet auction companies
  • Design consultancies (e.g. websites)
  • In large international institutions, e.g. World Bank, EBRD, Central Banks etc.

City’s Behavioural Economics postgraduate course would be especially valuable for professionals who already work in occupations which involve the need to understand the scientific dynamics of human decision making and behaviour (e.g., financial traders who require the right psychological attitude as much as appropriate strategy knowledge).

Different course options

Full time | Northampton Square | 1 year | SEP-20

Study mode

Full time

Duration

1 year

Start date

SEP-20

Modules

Principles of Economics (15 Credits)
Cognitive and Economic Science of Rational Choice (15 Credits)
Behavioural Research Methods: Design and Analysis (15 Credits)
Psychological Processes: Individual and Social (15 Credits)
Professional Aspects of Behavioural Economics (15 Credits)
Applied Econometric and Psychological Research Methods (15 Credits)
Fundamentals of Cognitive Science
Experimental Economics and Game Theory (15 Credits)

Tuition fees

UK fees
Course fees for UK / EU students

For this course (per year)

£15,090

Average for all Postgrad courses (per year)

£5,202

International fees
Course fees for non-UK / EU students

For this course (per year)

£20,290

Average for all Postgrad courses (per year)

£12,227

Entry requirements

Students should have an upper second class degree in Psychology, Economics or a related discipline (or equivalent in terms of professional qualifications). An equivalent qualification from an overseas university is acceptable. Selection is by application form, personal statement and references. It is not a prerequisite to have a background in Economics or Psychology.

University information

City, University of London is a leading UK university, with a global vision and a commitment to transforming lives through education. It is home to 20,000 students, 46% of which are studying at postgraduate level, and has an alumni of more than 140,000 graduates, from over 180 countries. The University is divided into five different Schools: Cass Business School School of Arts & Social Sciences School of Health Sciences School of...more

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