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MSc Behavioural and Economic Science (Economics)

  • DeadlineStudy Details:

    MSc 1 year full-time

Course Description

This course emphasises both theoretical foundations and real-world application in core and advanced areas of behavioural economics, and the cognitive science of judgement and decision making. It is for you if you intend to work in a business environment (e.g. consumer-led industries and the financial sector), and if you are concerned with public policy and its implementation.

It also provides an excellent foundation if you are intending to undertake further postgraduate research. A 20,000-word written project report provides an opportunity to explore your own interests across these fields of study.

The Economics variant of the course is designed for students with a first degree in Economics. A science track variantLink opens in a new window of the course is offered by the Department of PsychologyLink opens in a new window and is available if you have a first degree in science.

You will be automatically enrolled on a pre-sessional Mathematics and Statistics programme to equip you with the relevant methodological skills you need to succeed on the course.

Skills from this degree

  • Gain a deeper understanding of how and why people make the choices they do.
  • Understand how influencing such choices is important across a variety of domains, from public policy (e.g. encouraging people to save for pensions), through to industry (e.g. how to place a new product in the market), and individual behaviour (e.g. why people drink and eat too much).
  • Develop a theoretical understanding of key models and results in behavioural economics and judgement and decision making.
  • Ability to design, conduct and analyse behavioural experiments.
    Implement models of choice.
  • Access and analyse large-scale datasets.
  • Initiate economic enquiry and test economic models.
  • Numeracy and quantitative skills: use of mathematics and diagrams, understanding data, statistical analysis.
  • Use of IT including word processing and spreadsheet packages; specialist econometric, statistical, and other software; the internet.
  • Written and oral communication skills.

Entry Requirements

2:1 undergraduate degree (or equivalent) specialising mainly in economics. This means you should have achieved a good standard in undergraduate courses in microeconomics, macroeconomics and econometrics/economic statistics at an intermediate level.

We also expect a good standard achieved in mathematics taken at undergraduate level.

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Fees

For fees and funding options, please visit website to find out more

Programme Funding

We offer a variety of postgraduate funding options for study at the University of Warwick, from postgraduate loans, university scholarships, fee awards, to academic department bursaries.

Student Destinations

Graduates from our Master’s courses have gone on to work for employers including:

  • Bank of America
  • Bank of China
  • China Merchants Bank
  • Citibank
  • Deloitte
  • EY
  • European Central Bank
  • Frontier Economics
  • HM Treasury
  • HSBC
  • IMF
  • KPMG
  • World Trade Organisation

They have pursued roles such as:

  • Economists
  • Analysts
  • Consultants
  • Researchers
  • Business and financial project management professionals
  • Chartered and certified accountants
  • Actuaries
  • Statisticians
  • Quality assurance and regulatory professionals

Our department has a dedicated professionally qualified Senior Careers Consultant offering impartial advice and guidance together with workshops and events throughout the year. Previous examples of workshops and events include:

  • Careers in Economics Webinar Series with speakers from our Economics Alumni community
  • Careers in Economics Fair with key employers held annually in November
  • Investment Banking Uncovered
  • Warwick careers fairs throughout the year
  • Mock Assessment Centre workshops
  • Manage Your Digital Identity and Use LinkedIn Effectively

Module Details

Core modules

The following basic structure applies to MSc Behavioural and Economic Science (Economics Track):

Microeconomics A or Microeconomics B

These modules will develop your understanding of advanced microeconomic analysis, with a more applied version (A) or a more technical/theoretically orientated version (B). As a guide, we expect students opting for the B version to have obtained the equivalent of a First Class mark (70%) in their undergraduate studies, though we will consider a request to take a B variant even if that prerequisite is not met.

Quantitative Methods: Econometrics A or Quantitative Methods: Econometrics B

Both modules are taught in Term One. Econometrics A covers fundamental econometrics research skills and Econometrics B will supplement the development of these key and fundamental professional skills by looking at more advanced topics.

Issues in Psychological Science

This module covers core psychology and behavioural science content relevant to later modules in the degree, including memory, attention, perception, personality and individual differences, choice, and subjective well-being. It will provide you with the psychological background to enable you to understand and critically evaluate material on those later modules.

Methods and Analysis in Behavioural Science

The purpose of the module is to introduce you to experimental design and statistical programming. Behavioural scientists need statistical analysis of experimental data and of large data sets. This module covers these topics to allow you to understand how to test hypotheses, plan experimental design and perform statistical analysis using R.

Behavioural and Economic Science Project

You will have the opportunity to investigate and carry out novel research in the area of economic psychology and experimental economics.

Optional modules

Optional modules can vary from year to year. Example optional modules may include:

  • Experimental Economics
  • Behavioural Economics
  • Psychological Modules of Choice
  • Behavioural Change: Nudging and Persuasion
  • Neuroeconomics
  • Bayesian Approaches to Behavioural Science
  • Principles of Cognition
  • Behavioural Ethics
  • Behavioural Finance

You will choose four optional modules to complete.

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