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Behavioural and Economic Science - Economics Track (MSc)

MSc Behavioural and Economics Science

Our MSc Behavioural and Economic Science (Economics Track) programme investigates the growing area of decision science and behavioural economics, emphasising both theoretical foundations and real-world application.

Applications for 2022 entry are now closed.

Entry Requirements

2:1 honours degree (or equivalent)

Qualification

Postgraduate Taught (MSc)

Duration

1 year
(Full-time)

Start Date

Monday 26 September 2022

Apply for 2022

Applications are now closed

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Course Overview

Key Information
  • Course Code: P-C8P8
  • Qualification: Master of Science (MSc)
  • Duration: 1 year full time
  • Start Date: Monday 26 September 2022
Course Overview

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 variant 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 theoretical understanding of key models and results in behavioural economics and economic psychology
  • 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
The Student Perspective

Hear Catherine's story of studying MSc Economics at the University of Warwick:

Course Structure and Modules

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

An online Pre-sessional Mathematics and Statistics course for the first two weeks. You will need a computer with good internet access to allow for this period of study for the online tests.

  • 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

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
  • Methods and Analysis in Behavioural Science
  • Behavioural and Economic Science Project
  • Five optional modules

Please note: Students need to have previously completed undergraduate courses in microeconomics, macroeconomics and econometrics/economic statistics at an intermediate level. The MSc Behavioural and Economic Science (Economics Track) is a quantitative degree and students will need to be competent in several areas of mathematics. All students attend a short pre-sessional mathematics and statisticsLink opens in a new window course before the term starts.

Core Modules
  • Microeconomics A or Microeconomics B
  • Quantitative Methods: Econometrics A or Quantitative Methods: Econometrics B
  • Issues in Psychological Science
  • Methods and Analysis in Behavioural Science
  • Behavioural and Economic Science Project

Read more about the core and optional modules on our web pages.

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

Teaching, Learning and Assessments

Teaching

You will have a combination of lectures, small group support and feedback classes, and practical classes or workshops. You will also learn through independent study, which will include reading journals and books, completing problem sets and assessments, revising for exams and undertaking research.

In the summer term and summer vacation, your independent study time will increase as you complete your research project.

We offer a bespoke English Language course to assist with writing styles for assessment.

Class sizes

Core modules range from 50-175 students and classes have typically around 15-20 students.

Typical contact hours

An average of 8-10 hours of lectures and 3 hours of classes per week.

Assessments

Assessment is through formal examinations and coursework, including a mixture of worksheets, essays, research reports, modelling and data analysis, class tests, exams, presentations and a research project.

Feedback is a vital part of the assessment process, as it helps you to reach your full potential by identifying the strengths and weaknesses of your work and the actions needed to develop your understanding and enhance your performance.

Feedback is provided in a variety of ways, including:

  • Grades and comments on marked work
  • Solutions to problem sets
  • Verbal feedback from tutors and peers in classes
  • Advice and Feedback hours with academic staff
  • Personal tutor meetings
Pre-sessional Mathematics and Statistics

You are required to attend Introductory to Mathematics and Statistics, which will be taught in the two weeks before the University’s main term begins.

The course is designed to ensure that your maths and statistical knowledge and skills are at the standard required for you to succeed on the rest of the MSc course and it consists of both lectures and small group learning. Further information can be found at the following Economics web pageLink opens in a new window.

Your timetable

Your personalised timetable will be complete when you are registered for all modules, compulsory and optional, and you have been allocated to your lectures, seminars and other small group classes. Your compulsory modules will be registered for you and you will be able to choose your optional modules when you join us.

Entry Requirments

Minimum Requirements

2:i 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/ economics statistics at an intermediate level.

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

English Language Requirements

You can find out more about our English language requirements. This course requires the following:

  • Band A
  • IELTS overall score of 6.5, minimum component scores not below 6.0.
International Qualifications

We welcome applications from students with other internationally recognised qualifications. For more information, please visit the international entry requirements page.

We welcome MSc course applications from candidates who have attended a Tier 1 or Tier 2 University in China. Owing to the volume of applications received, we will not consider applications from candidates in other Tiers unless they have completed a joint degree programme with another University. The list of Universities can be found here.

Fees, Funding and Scholarships

Tuition Fees

For up-to-date information concerning fees, funding and scholarships for Home, EU and Overseas students please visit Warwick's Fees and Funding webpage.

Additional Course Fees

Economics students will need to buy a calculator, at a cost of approximately £10. Social events and trips organised by the Department are free of charge.

Scholarships
  • 10% Alumni Discount Scheme - If you are a Graduate of the University of Warwick and are of home or overseas fee status, you will be able to access a 10% tuition fee discount on this course.
  • Warwick Taught Masters Scholarship Scheme - The University of Warwick offers a number of Warwick Taught Masters Scholarships, which are available to eligible Home/EU students from under-represented groups who wish to start a postgraduate taught masters course. The award details, eligibility criteria, and the application process can be viewed on the Warwick Taught Masters Scholarship scheme webpage.
  • Aziz Foundation - If you are a British Muslim student pursuing study on this course you can apply for a 20-50% free reduction by direct application to the Aziz Foundation by 26 July at 9am.
  • Further Scholarship Options - The University also offers a wider range of scholarships available.
  • Postgraduate Funding - Useful information on fees, the cost of studying in the UK and funding can be found on the postgraduate study pages.
  • Postgraduate Loans- A Postgraduate Loan can help with course fees and living costs while you study a postgraduate masters course.

Careers and Employability

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
  • Careers in Economics Event
  • Investment Banking Uncovered
  • Warwick careers fairs throughout the year
  • Mock Assessment Centre workshops
  • Manage Your Digital Identity and Use LinkedIn Effectively
photo of student
"Lecturers go out of their way to help and explain things to you and challenge you beyond the reaches of the course, cultivating the right environment for learning."

Olivia - MSc Economics

Hear from Students