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Study Postgraduate

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Explore our Behavioural and Economics Science (Economics) taught Master's degree.

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Image of economics students in conversation around a desk.

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P-C8P8

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MSc

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1 year full-time

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18 September 2023

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University of Warwick

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Behavioural and Economic Science (Economics) MSc is designed for students with an Economics degree. Warwick's Department of Economics, ranked 4th in the UK (The Complete University Guide 2023) and 25th the World (The QS World University Subject Rankings 2022), offers you a programme examining theoretical and real-world applications of decision science and behavioural economics.

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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 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.

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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.

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

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

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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.

Reading lists

Most departments have reading lists available through Warwick Library. If you would like to view reading lists for the current cohort of students you can visit our Warwick Library 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.

Pre-Sessional Mathematics and Statistics

The MSc Economics is a quantitative degree and students will need to be competent in several areas of mathematics. You are required to attend a pre-sessional course, Introductory 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 on our Introductory Maths and Statistics web pageLink opens in a new window.

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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.

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  • Band A
  • Overall score 6.5 and none below 6.0 is required.

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There are no additional entry requirements for this course.

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

A pre-sessional Mathematics and Statistics course.

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.

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