Applying behavioural economics to real-world problems is becoming increasingly widespread. The main findings from behavioural economics are that individuals deviate from optimal behaviour in a consistent and regular manner. Furthermore, emotions play an important role in decision making in many scenarios. As a consequence, policy-makers are beginning to appreciate the relevance of applying tools and techniques from behavioural economics in understanding the behaviour of individuals.
Over the past decade, techniques in behavioural economics have been applied by a large number of both private and public sector organisations. These include the Bank of England, Coca-Cola, the Financial Conduct Authority, Google, HMRC, Hyundai, HSBC, Oxfam, VISA and the NHS, while concepts from behavioural economics are widely used in areas such as marketing, organ donor framing, incentives to save, incentives to spend etc. There does not seem to be an aspect of life in which applications from behavioural economics are not relevant.
Why study MSc Behavioural Economics in Action at Middlesex?
As a result of this growth in demand, we are offering MSc Behavioural Economics in Action with a strong emphasis on real-world applications, that is, in action. It is the very first programme of its type to be offered in the London area.
The programme will provide a unique learning experience for its students. The course offers as much emphasis on behavioural theories as on the practical applications of behavioural economics, but what makes our masters programme unique is that - as part of their degree - our students will be required to undertake a three-month long behavioural project with real-world implications supported by a mentor.
The course is particularly aimed at individuals with extensive work experience in areas such as policy making and senior management in any type of organisation in the public or private sector. The tools and techniques we teach are also in great demand in organisations that seek to understand customer and consumer behaviour.
Recent graduates from related disciplines looking to enter into the fast growing area of behavioural economics are also encouraged to apply, including anthropology, business, economics, finance, political science, psychology, sociology, neuroscience, etc. Those holding degrees in maths or physics are also welcome.