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).
Why study MSc Behavioural Economics in Action at Middlesex?
The course is particularly aimed at individuals with extensive work experience in areas such as policy making and senior management in any type of organisation in the public or private sector. The tools and techniques we teach are also in great demand in organisations that seek to understand customer and consumer behaviour.
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.
You will study six modules during the course of the masters: Behavioural Economics; Data Analysis; Experimental Economics; Behavioural Markets; Practice; and Dissertation.
ECS4001 Behavioural Economics
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.
ECS4002 Data Analysis
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.
ECS4003 Experimental Economics
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.
ECS4004 Behavioural Markets
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.
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
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
The Business School is piloting a new initiative to provide students with a free e-book for each module they are studying. The Library will continue to have a good selection of books
in both hard copy and electronically to support you during your course and you
will also be able to buy other books from our new online book shop.
programme will be facilitated using a variety of media and online tools (My
Learning on UniHub, podcasts, wikis, etc.), which will allow you flexible access
to a diverse range of online resources, quizzes and learning materials as well
as collaborative tools with which you can engage and learn with your peers.
confined by the time and space associated with traditional teaching methods you
may take part in online discussions and learning activities from wherever you
are studying. Your tutors and UniHelp advisors will provide any support you may
need while learning online. By engaging with e-learning you will also be
developing skills that are essential for your learning and are also highly
valued by employers. These include but are not limited to: working flexibly; communication; understanding of IT; team working; and creating shared
understandings based on quality resources and access to global expertise.
The Hendon campus has a wireless network so you can use your own
devices, but there are also open access computers available in the library.
What are the entry requirements for Behavioural Economics in Action MSc?
A lower second class honours degree or higher in the field of economics, business management, business administration, international business and other relevant areas.
UK/EU and international students are eligible to apply for this course.
Academic credit for previous study or experience
If you have relevant qualifications or work experience, academic credit may be awarded towards your Middlesex University programme of study. For further information please visit our Accreditation of Prior Learning page.
International entry requirements
We accept the equivalent of the above qualifications from a recognised overseas qualification. To find out more about the qualifications we accept from your country please visit the relevant Support in your country page.
If you are unsure about the suitability of your qualifications or would like help with your application, please contact your nearest Regional office for support.
Visas and immigration
You will not need a visa to study in the UK if you are a citizen of the European Union, Iceland, Liechtenstein, Norway or Switzerland. If you are a national of any other country you may need a visa to study in the UK. Please see our Visas and immigration page for further information.
English language requirements for international students
You must have competence in English language to study with us. The most commonly accepted evidence of English language ability is IELTS 6.5 (with minimum 6.0 in all components). We also normally require Grade C GCSE or an equivalent qualification. Visit our English language requirements page for a full list of accepted tests and qualifications.
What are the career options with an MSc Behavioural Economics in Action?
The overall purpose of our
programmes is to develop professionals who can manage ethically, sensitively and
holistically in a range of organisations in an increasingly global and rapidly
changing environment. Our MSc is suited for an individual working for dynamic
organisations where freedom of thought is encouraged.
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
What about work placements?
For those students studying full
time, the module in which you will have the greatest opportunities for engaging
with employers directly and applying the skills and knowledge gained on your
programme will be ECS4005 Practice and ECS4006 Dissertation. With these modules
you will gain valuable insights into personal development and research skills
and you will be provided with assistance in gaining access to organisations
with which you will conduct your practical work and/or research project.
Although this highlights to a certain
extent how employability has been embedded in some of the modules in the
programme, it is still your responsibility to actively seek out these skills
and identify what is covered where.
Your employability cannot be
ensured without you engaging with and understanding the importance of learning
these skills. Once you take ownership of this, the University can support your
development in a variety of proven and relevant ways both within and outside the curriculum and, outside the University, by
helping you to make sense of your experiences and understand how to articulate
your learning and development.
We also offer extra-curricular
opportunities, including a wide range of support delivered through our
Employability Service; a range of services through our Enterprise Development
Hub to help you research, develop and start a business; numerous opportunities
for you to work for Middlesex while you study and one of the most comprehensive
exchange programmes in the UK.