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MSc Behavioural Economics in Action

Course Overview

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, behavioural health economics, etc. There does not seem to be an aspect of life in which applications from behavioural economics are not relevant.

This brand new MSc course, in both full-time and part-time options, is the first of its type in Europe and offers a focus on both the theoretical aspects and practical applications of behavioural economics. A three month behavioural project, which can be completed at Middlesex, abroad or at your own work place, is just one of the elements that emphasises the real-world applications that are integral to the course.

Middlesex University is also home to the Behavioural Economics Group, which conducts leading research in the field and has been recently ranked 8th in the UK by Research Papers in Economics (RePEc).

Key information

    Course name

    MSc Behavioural Economics in Action

    Total academic credits

    180 credits

    Qualification awarded

    MSc

    Awarding body

    Middlesex University

    Professional recognition

    No

    Academic level

    Postgraduate (QCF_NQF Level 7)

    Study mode

    Full time

    Duration

    1 year

    Tuition fees

    £13,250

    Intakes

    October & January

    Work placement

    No

    Course location

    London

Academic entry requirements

• A lower second class honours degree or higher from any discipline of study.

• International students: equivalent of the above qualifications from a recognised overseas qualification.

• 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.

English entry requirements

Students for whom English is not the first language must satisfy the University requirement for IELTS currently at 6.5 overall, with no less than 6.0 in any component. If you don

Progression route

Further academic study at postgraduate level including MPhil, DBA, PhD or professional career.

Career opportunities

Middlesex University is committed to supporting you to develop your employability skills and we do this by designing your programme - Behavioural Economics in Action - so that you have the opportunity to develop a key set of employability skills including team working, self-management, communication, literacy and numeracy, and policy awareness.

An Economics degree builds both subject specific and transferable skills, making it an ideal study choice for launching a career across both the public and private sectors: from banking and finance, to economics consultancy. You could become an economist, accountant, analyst, or statistician and work across government departments and think tanks, banks (both high street and city), insurance and accountancy firms, private consultancies, and charitable and not-for-profit organisations.

Modules

Compulsory

  • Behavioural Economics (30 credits)
  • Experimental Economics (30 credits)
  • Behavioural Markets (30 credits)
  • Practice (30 credits)
  • Dissertation (60 credits)

 

Assessment methods
You will be assessed by means of exams, your dissertation and other coursework, including reports, presentations, group assignments and your record of learning and development. You will receive regular feedback on your work.  

 

What you will learn from modules of this MSc

Behavioural Economics
This module aims to provide students with an advanced knowledge of individuals' decision-making as well as a clear understanding of how individuals and firms behave in context of strategic interaction.

The module combines both theoretical knowledge and behavioural data, with a special emphasis on principal-agent relationship and labour markets. The module is divided into three main topics: Games of Strategy, Behavioural Labour Economics, and Individual Decision Making. It also provides students with a basic knowledge about how to programme laboratory experiments.

 

Data Analysis
This module aims to equip students with essential mathematical and statistical skills to help analyse data arising from economic experiments, present results and interpret findings. You need to master the techniques of locating, describing, differentiating and analysing data to aid with conducting economic and social experiments as well as processing and presenting findings.

 

Experimental Economics
This module consists of four parts. The first part will provide students with an advanced understanding of the principles of experimental design in experimental economics. In the second part, the students will learn about different theories and the central findings of the experimental research programmes on the topic of social preferences. The third part will introduce students to special issues concerning running (and interpreting the results of) field experiments. In the fourth and final part, we will discuss, using relevant examples from the recent literature, a number of current developments in experimental economics.

 

Behavioural Markets
This module aims to introduce students to advanced topics in behavioural economics - with special focus on behavioural market and behavioural finance. The module has three parts - the first is designed to analyse rigorously how consumers, firms and markets behave. The second part explores issues in behavioural finance. The third part is designed - via weekly seminars - to introduce ongoing research in experimental and behavioural approaches to economics.

 

Practice
The aims of the module are to provide hands-on experience with behavioural economics and advanced knowledge of the practice of empirical research in behavioural and experimental economics. The student will work under the supervision of a professor carrying out laboratory or field experiments. This will provide the student with a unique perspective of the practice of behavioural economics.

 

Dissertation
This module aims to provide students with the opportunity to synthesise the knowledge and skills gained during the programme. This will enable them to define and execute a piece of research in any area of behavioural economics. The research area can be original or be a replication of already published work. Students will develop the research topic in consultation with the module leader and/or programme instructors, or an outside supervisor.