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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.
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.
The modules are taught by lecturers from the economics and psychology department with research interests in behavioural economics.
In each module you will receive typically 30 hours of face-to-face contact, supported by online resources (e.g., videos and advanced readings provided on the learning platform Moodle) for your self-directed study. You will be required to take responsibility for your own learning and to take advantage of the learning opportunities offered (e.g., invited speakers programme and online resources). The learning and teaching strategies for each module will expose you to a range of methods, comprising: lectures, guest lectures, seminars, group work, workshops, small group discussions, tutorials, reflective reports and research project supervision.
In order to assess your full range of learning, you will complete reflective reports, essays, examinations, interpretation of statistical analyses, formal research proposals and a research dissertation. Most individual modules are assessed by a combination of coursework and examinations. In addition, you will be directed to independent study and receive detailed feedback on your coursework as an aid to your further learning. These different forms of assessment have the aim of assessing your knowledge, skills and appreciation in different areas of behavioural economics (e.g., theoretical knowledge and applied aspects of behavioural techniques).
Full-time students take four modules in each of the first two terms, followed by a written research dissertation in the third term.
Most of the modules are structured as a combination of two-hour lectures (to present information) and one-hour seminars or clinics (to understand and assimilate lecture material) or lab sessions. Teaching and learning is enhanced by technology-supported resources, and teaching staff are available for one-to-one interaction and feedback.
It is expected that full-time students will spend about three hours in lectures/seminars plus self-directed, independent study hours for each module per week. You should also expect to attend seminars given by invited speakers and seminars on dissertation writing (about one to two hours per week).
Your workload might vary from week to week.
Term 1
Term 2
Term 3
Research Dissertation
Students with a strong background in Economics may substitute 'Principles of Economics' with a microeconomics module from one of the MSc programmes offered by the Department of Economics. You may also substitute an appropriate elective from one of the MSc modules offered by the Department of Economics for 'Professional Aspects of Behavioural Economics' - this will allow a pathway through the programme that is focused on theoretical and research economic themes.
Whilst there is not yet a specific occupation of 'behavioural economist', the knowledge and skills acquired are highly valuable in a range of sectors:
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).
Why do people not always act as rational economic decision makers? How can we apply mathematics and psychology to improve our economic models? Contrary to assumptions in traditional economics, people do not automatically choose the optimal course of action, even if given proper incentives. Intrigued? Our Behavioural Economics programme brings you the skills to optimise strategies and policies by including the framing and context that affect people’s choices.
The skills-based specialisation addresses the psychology of decision making. In both mainstream and behavioural economics courses you will acquire both a deep understanding of economics and the skills to adapt strategies and policies to deviations from rational behaviour.
Few universities offer this increasingly popular stream in economics. If Behavioural Economics is your programme of choice, Rotterdam, frontrunner in economics, makes perfect sense. Select the curriculum that suits you best, study among ambitious and inquisitive co-students and benefit from the expertise of the internationally renowned Behavioural Economics Group.
Countries like the US, UK, and the Netherlands, and companies worldwide increasingly use the insights from Behavioural Economics to shape their policies. With this specialisation you can either help improve products, marketing policies, negotiation procedures, contracts, and financial portfolios in business, or design and improve public economic policies and strategies. It’s up to you. Careers are possible in many sectors, including:
The MSc Behavioural Economics programme offers you a solid training in economics, complemented with psychological insights. Our students particularly appreciate the interactive nature of this programme. We gladly share their stories with you here.
Download the brochure here.
Our MSc Economics programmes are intended to deepen your knowledge and understanding of economics as an academic discipline. Each programme draws upon the internationally rated research undertaken within the department and the experience of our academics in developing economic policy at organisations such as the Bank of England, the Organisation for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF), the World Trade Organisation (WTO) and the United Nations.
A central objective of all of the programmes is to provide you with insight into the latest thinking in economics. You will attend a series of research seminars, during which you can discuss and present current research papers. You can also participate in the departmental seminars, which attract external academics and provide you with the opportunity to gain insight into current research in economics and econometrics.
Our MSc Behavioural Economics and Finance combines the intellectual rigour of a standard MSc in Economics with the insights stemming from the intersection of economics, social psychology and cognition.
This programme provides the quantitative training of standard microeconomics, with a thorough grounding in the research methodology behind experimental economics, whether applied to laboratory studies, or to field experiments. It also provides the statistical training required to analyse and interpret data from experiments.
The specialised courses in individual choice, behavioural economics and experimental courses will take students from the standard models that underpin behavioural sciences to the current developments in the field, whether applied to labour economics, behavioural finance or behavioural public finance, as well as policy applications, including the analysis of tax compliance by the HM Treasury or savings decisions by workers in the United States.
The double degree option enables you to gain a second Masters qualification by studying for a year with one of our prestigious partner universities. For more information on this and other postgraduate study abroad opportunities, visit the Business School’s Study Abroad webpages http://business-school.exeter.ac.uk/programmes/postgraduate/studyabroad/
During the programme you will study modules (including the dissertation) totalling 180 credits. Please note that programme structures may be subject to change.
• Descriptions of the individual modules are given in full on the Business School postgraduate module list http://business-school.exeter.ac.uk/programmes/postgraduate/modules/.
Compulsory modules can include:
Some examples of optional modules are as follows;
Our MSc Economics programmes are intended to deepen your knowledge and understanding of economics as an academic discipline. Each programme draws upon the internationally rated research undertaken within the department and the experience of our academics in developing economic policy at organisations such as the Bank of England, the Organisation for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF), the World Trade Organisation (WTO) and the United Nations.
A central objective of all of the programmes is to provide you with insight into the latest thinking in economics. You will attend a series of research seminars, during which you can discuss and present current research papers. You can also participate in the departmental seminars, which attract external academics and provide you with the opportunity to gain insight into current research in economics and econometrics.
The MSc Economics is the most general of our programmes and offers the greatest flexibility. It gives you the opportunity to acquire professional training in mainstream economics, including analytical techniques as well as subject-specific knowledge.
We also provide the opportunity for you to specialise in two specific areas of economics and for these specialisms to be reflected in your degree title. Our MSc Economics and Econometrics and MSc Behavioural Economics and Finance give you the opportunity to focus on two areas in which the Department of Economics has considerable expertise and experience.
The QTEM Programme aims to prepare students with excellent quantitative and analytical skills to support their future careers as decision makers leading the global business environment. Students accepted onto the QTEM Programme will spend an additional semester studying at one of the prestigious academic partners in the QTEM Network. This additional semester is combined with a 2 month internship. Upon completion of these elements, students will be awarded a QTEM Certificate, which demonstrates their skills in analytical and quantitative techniques to support decision-making in an international context.
For more information on this and other postgraduate study abroad opportunities, visit http://business-school.exeter.ac.uk/programmes/postgraduate/studyabroad/.
The double degree option enables you to gain a second Masters qualification by studying for a year with one of our prestigious partner universities. Specific to this programme is a Double Degree opportunity with Fudan University School of Economics. For more information on this and other postgraduate study abroad opportunities, visit the Business School’s Study Abroad webpages at http://business-school.exeter.ac.uk/programmes/postgraduate/studyabroad/.
During the programme you will study modules (including the dissertation) totalling 180 credits. Please note that programme structures may be subject to change. Descriptions of the individual modules are given in full on the Business School postgraduate module list http://business-school.exeter.ac.uk/programmes/postgraduate/modules/ .
Recent examples of compulsory modules are as follows;
Some recent examples are as follows;
Modern economics is an increasingly rigorous discipline and advanced degrees are now essential for careers in international institutions, government and industry. The Economics MSc at UCL will equip the professional economist with the powerful tools required to understand the rapidly changing, complex and uncertain modern world economy.
The programme aims to provide all students with a sound and worthwhile education in modern economics and econometrics, developing important transferable skills of problem-definition, analysis and self-motivation. Students will learn to use the formal tools that are necessary to understand and conduct cutting-edge research in both theoretical and applied economics.
Students undertake modules to the value of 180 credits.
The programme consists of four core modules (60 credits), four optional modules (60 credits) and a research dissertation (60 credits).
Core modules
Optional modules
At least two of the following advanced core modules:
Remaining applied options (taking the total to four) from a list including:
Dissertation/report
The dissertation of 10,000 words will be a piece of lightly supervised research, including a brief critical review of the literature in the relevant area.
Teaching and learning
The programme is delivered through a combination of lectures, seminars, and practical and problem classes. The MSc degree is awarded on the basis of written, final examination papers and the research dissertation.
Further information on modules and degree structure is available on the department website: Economics MSc
Graduates go on to a variety of roles, including those in the civil service, research, finance and political sectors.
Recent career destinations for this degree
Employability
The UCL Economics MSc is a passport to a career in major national and international institutions that demand the deeper, more rigorous analytical reasoning in economics. In these roles, MSc graduates draw on a theoretical grounding and wealth of practical analytical tools to formulate relevant questions in economics and produce high-quality economic analysis valued by employers and prestigious PhD programmes. Students benefit from the international reputations of the programme’s academic staff and the academic excellence and international perspectives of their fellow MSc students. Major employers invite UCL MSc graduates to apply for roles.
Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2013–2015 graduating cohorts six months after graduation.
UCL Economics has an outstanding international reputation in the areas of applied microeconomics, labour economics, development economics, economic theory, experimental economics, econometrics, and macroeconomics. The department is a global leader in policy-oriented research, with members actively involved in policy design and evaluation. The Research Excellence Framework 2014 ranked the UCL Department of Economics as the top department in the UK for economics and econometrics, as well as the top department in any field in terms of overall score. The high quality and policy impact of research undertaken by faculty are reflected in an excellent teaching and research environment for graduate students.
UCL is located in central London at the heart of the UK centre of government. Recognised as the world's best connected city, 75% of the Fortune 500 companies have offices in London.
The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.
The following REF score was awarded to the department: Economics
99% rated 4* (‘world-leading’) or 3* (‘internationally excellent’)
Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.
This programme provides a masters-level education with particular focus on Behavioural Finance, an interdisciplinary field which integrates psychology and financial economics.
This is the first postgraduate degree in the UK with a thorough and balanced curriculum with regard to both disciplines. The study of finance and psychology progresses through the programme so that students obtain a critical grasp of core theory along with thorough knowledge, skills of application and analysis.
October – December: Part 1 Autumn Term
January: Part 1 Exams
January-April: Part 2 Spring Term
May – June: Part 2 Exams
June – August (12 month programme only): Part 3
August/Sep (12 month programme only): Part 3 Coursework deadlines
Part 1 compulsory modules
Part 2 compulsory modules
Part 2 optional modules
Students on the 9-month (12-month) programme can select 40 (20) credits from the following modules:
Part 3 optional modules (12 month only)
Students on the 12-months programme should take 20 credits from the following:
Full-time: 9 months Full-time: 12 months
Students will be resident and undertake full-time study in the UK. Under both, the 9 and 12-month programmes students take compulsory and/or elective modules in Part 2.
The 12 month option involves taking an elective 20 credit module between July and August, which would also mean a 20 credit reduction in the number of taught modules taken in the spring term.
“National league tables show that Henley Business School consistently provides one of the most satisfying and rewarding student experiences in the UK.” Professor John Board, Dean.
Part of the University of Reading and the triple-accredited Henley Business School, the ICMA Centre has a global reputation for its excellence in undergraduate, postgraduate and executive education in finance, as well as professional and policy development research and consultancy.
Based in University of Reading’s award-winning Whiteknights campus – a short train ride from London, the financial capital of the world – the ICMA Centre is the product of the first active collaboration between the securities industry and a university finance department.
Despite the volatile nature of the financial markets, demand for well‐qualified recruits remains high. Students schooled in the field of behavioural finance are in demand as investment banks, asset managers and associated industries attempt to understand investment patterns and pricing bubbles that cannot be explained by conventional finance theories. Thus, they have been showing increasing attention to behaviourally driven investment philosophies over the last few years. We expect many of our graduates to enter the industry at either the ‘Analyst’ level or as ‘Associates’, who tend to have several years of relevant professional experience.
Our graduates leave us equipped with knowledge and transferable skills that are also prized by employers outside of the traditional banking and finance sectors. Many of our Alumni are currently enjoying successful careers with multinational companies, consulting firms, government agencies and regulatory organizations throughout the world.Graduates will also gain the knowledge and skills required to continue their studies at the doctoral level.
This course enables you to immerse yourself in rigorous modern economics training – either immediately after an undergraduate degree or as a mid-career professional. You can choose to study full time over the course of one year or part time over the course of two.
This course will give you a solid foundation in microeconomics, macroeconomics and econometrics, while exploring modules on finance, regulation, health economics, behavioural economics and development economics.
The Economics MSc helps you:
Should you with to pursue further study, the dissertation track can also serve as a stepping stone to an Economics PhD.
As a Masters student at City, you will benefit from City's excellent London location and our proximity to, and connections with, the City of London. We are just minutes away from the Square Mile – London's world-famous financial district – and the headquarters of numerous financial and professional institutions.
Teaching takes place over two terms from September to June. Full-time students who pass all the taught modules during the main exam sessions finish the programme at the end of September when they submit their dissertation or literature review.
Full-time students who successfully complete the taught modules in the August resit exam session submit their dissertation or literature review in December.
Part-time students complete their modules over the course of four terms from September to June before undertaking their dissertation or literature review.
Your course is taught by research-active academic staff. Assessments are a combination of unseen written examinations (70% for each module) and coursework (30% for each module).
Pre-sessional activities
Pre-sessional activities covering Micro-and Macroeconomics, Stata, Excel, Probability and Mathematics run in September before the start of term. These are available for all students who secure a place on the MSc Economics course. Pre-sessionals are included in your degree fee and are designed to prepare you for the course. We therefore strongly encourage you to make every effort to attend. Dates of the sessions are as follows:
You are not required to register for the above pre-sessionals, you just need to turn up on the day. Further information such as the exact times and locations will be provided in your induction schedule.
You will take 120 credits of taught core modules and 60 extra credits through one of the following routes:
In the dissertation route, you will take four core modules and two elective modules.
In the literature survey path, you will take three core modules and five elective modules.
It is not possible to give exact hours per week as these can vary from one term to the other, depending on which electives you choose.
Dissertation route modules
Core modules
Elective modules
**cannot be chosen if ECM157 Development Economics is chosen.
Literature survey route modules
Core modules
Elective modules
*available subject to timetabling feasibility
Elective modules for both paths
On completing the Masters in Economics you will have a wide range of career options. Graduates of this course enjoy numerous employment possibilities in both the public and private sectors, including consultancy and financial analysis.
Recent Economics Masters graduates have secure roles such as:
The MSc also provides a solid academic foundation for students wishing to pursue doctoral research in economics.
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