City, University of London

Course Introduction

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).

Duration & Attendance Qualification Tuition fees Fee type
1 year
Full Time
MSc £15,090 Home Fees
1 year
Full Time
MSc £20,290 Overseas Fees
1 year
Full Time
MSc £15,090 European Fees
2 years
Part Time
MSc £7,545 Home Fees
2 years
Part Time
MSc £10,145 Overseas Fees
2 years
Part Time
MSc £7,545 European Fees

Qualifications required:

  • Domestic 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.
  • International entry requirements: Students whose first language is not English, will need to provide evidence of English proficiency. We only accept the following English language qualifications: A first degree from a UK university or from the CNAA; A first degree from an overseas institution recognised by City as providing adequate evidence of proficiency in the English language, for example, from institutions in Australia, Ireland or the USA; GCE O-level/GCSE English Language or English Literature, grade C minimum; IELTS - 7 or above in each section; Pearson test with a score of at least 67 in each area. International Equivalences: If you are applying with an overseas degree, the following is an indication of international equivalents of an upper second class degree from a UK institution. Please note these figures are intended as a guide only and individual applications will be assessed on a case by case basis. China: Bachelor degree (Xueshi) in a suitable subject with an overall grade of 75 ? 85% (depending on the standing of the awarding institution) USA: Bachelor degree in a suitable subject with CGPA 3.2 India: Bachelor degree in a suitable subject with CGPA 6.5 / overall 65% / 1st Division classification Turkey: Lisans Diplomasi or a M?hendis Diplomasi with a minimum CGPA 3.0 or 65% Italy: Diploma di Laurea in a suitable subject with a minimum score of 104.
  • IELTS score: 7