Behavioural and Economic Science (Economics Track) (Taught)

Behavioural and Economic Science (Economics) MSc is designed for students with an Economics degree. Warwick's Department of Economics, ranked 1st in the UK (The Good University Guide 2024)), 2nd in the UK for research excellence (based on the most recent Research Excellence Framework 2021, published in Times Higher Education rankings) and 23rd in the World (The QS World University Subject Rankings 2024), offers you a programme examining theoretical and real-world applications of decision science and behavioural economics.

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 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.

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.

This information is applicable for 2025 entry. Given the interval between the publication of courses and enrolment, some of the information may change. It is important to check our website before you apply.

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

• 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

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.

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.