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Behavioural and Economic Science - Economics Track (MSc)

Behavioural and Economics Science - Economics Track (MSc)

 

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.

Please note: Applications for 2021 entry are now closed. Applications for 2022 entry will open on 1 December 2021.

Key Information
  • Course Code: P-C8P8
  • Qualification: Master of Science (MSc)
  • Duration: 1 years full time
  • Start Date: 20 September 2021
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’re concerned with public policy and its implementation. It also provides an excellent foundation if you’re 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 Psychology 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.

The Student Perspective

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


Course Structure

The following basic structure applies to 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.
  • One optional core module in Economic Analysis (AA or BB) in Term 1. Each of the modules will develop
    your understanding of advanced microeconomic and macroeconomic analysis, with more applied/policy orientated versions (A) and more technical/theoretically orientated versions (B).

  • Quantitative Methods: Econometrics A or Quantitative Methods: Econometrics B (both include Introductory Maths and Statistics). 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

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 student attend a short pre-sessional mathematics and statistics course before the term starts. As a guide, we expect students opting for B versions of Macroeconomics or Microeconomics 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.

Core/Optional Core Modules
Optional Modules

Previously, a selection of the following options have been offered:

  • Experimental Economics
  • Behavioural Economics
  • Psychological Modules of Choice
  • Behavioural Change: Nudging and Persuasion
  • Neuroeconomics
  • Principles of Cognition
  • Behavioural Finance

How will I learn?

Teaching consists of lectures and seminars and we hold laboratory-based sessions for the practical study of statistical programmes and for the design, conduct and analysis of behavioural experiments.

You can expect to spend an average of 22 hours per week learning 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 independence study time will increase as you complete your research project.

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

Contact Hours

An average of 8-10 hours of lectures and 2-5 hours of seminars per week.

Class Size

Core modules range from 50 -250 students and seminars have typically around 15-20 students.

Assessments

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

Skills from this degree
  • Ability to synthesise and evaluate a theoretical and empirical literature
  • Understand and apply a range of research methods and tools
  • Understand basic principles of research design and strategy, including an understanding of how to formulate researchable problems and an appreciation of alternative approaches to research
  • Written and oral communication skills
  • 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

Minimum Requirements
Course Minimum Requirement
MSc Behavioural and Economic Science (Economics Track) 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/economic statistics at an intermediate level. We also expect a good standard achieved in mathematics taken at undergraduate level.
International Students

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.

English Language Requirements

All students will also need to meet our English language requirements (Band A)
IELTS overall score of 6.5, minimum component scores not below 6.0


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.

Key Statistics

Completing an Economics MSc is a great way to enhance your career prospects, and the high quality reputation of our courses makes our graduates highly sought after by employers. Warwick is the 3rd most targeted university by graduate recruiters (The Times Top 100 Graduate Recruiters, 2020). Internationally, Warwick also is ranked 40th in the world for reputation with employers (QS World University Rankings, 2021).

94%

of Warwick Economics Postgraduate Taught students in work were in high skilled roles.

£35,800

is the median earning for Warwick Economics Postgraduate Taught students working in the UK.

75%

of Warwick Economics Postgraduate Taught students were in paid work for an employer.

16%

of Warwick Economics Postgraduate Taught students were undertaking further study.

*Based on ‘Most Important Activity’ from the Graduate Outcomes survey of 2017/18 graduates, at approximately 15 months after completion. Contains HESA data: Copyright Higher Education Statistics Agency Limited 2020. HESA cannot accept responsibility for any inferences or conclusions derived by third parties from its data.

Career Pathways

Graduates from these courses have gone on to work for employers including: Accenture; Deloitte; European Central Bank; European Commission; HSBC; KPMG; Nielsen and UNESCO. 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.

Helping you find the right career

Our Department has a dedicated professionally qualified Senior Careers Consultant who can support you. They offer impartial advice and guidance together with tailored workshops and events throughout the year. Previous examples of workshops and events include:

  • 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

Find out more about careers support at Warwick.