'Behavioral Economics' is one of the specialized tracks of the Master's program in Economics.
Address economic questions around behavior and behavioral change
Many economic questions ultimately revolve around behavior and behavioral change. •How to encourage households to waste less food? •How to prevent fraud in organizations? •How to stimulate employees to cooperate efficiently? •How to foster trust in online markets?
The track ‘Behavioral Economics’ will provide you with the knowledge and skills to effectively address such questions.
Integrate insights from economics and psychology
The specialization track integrates insights from economics and psychology. It builds on the principle that policy advice should be evidence-based and cannot rely on theory alone. The starting point is that individuals are not rational self-interested maximizers but that human behavior is based on a bounded capacity to process information and on preferences that include a regard for such social norms as fairness and reciprocity.
Learn how to affect behavior by policies and strategies
In recent years it has become increasingly clear to firms, organizations, and governments that policies and strategies should take account of both the economics and the psychology of behavior. There is an urgent need for economists who have been trained to take a broader view, who have a profound knowledge of all relevant aspects of behavior and the ways it can be affected by policies and strategies.
•Seminar Economics and Psychology of Risk and Time •Seminar Economics and Psychology of Social Norms and Strategic Behavior •Methods course Experiments and Surveys
This track is recommended to students who want to work in consultancy, policy advice and project management. The insights from behavioral economics are in high demand at financial institutions, insurance companies, multinational enterprises, as well as in regional and national government.
To be eligible for the Master's in Economics program you must have a Bachelor's in Economics degree or similar discipline (such as Econometrics) from a university recognized by the Admissions Board. We require you to have a solid academic background in the following areas: Macroeconomics, Microeconomics, Mathematics, Statistics, Game Theory, and Industrial Organization.