MSc in Economics and Business - Specialisation in Behavioural Economics

Erasmus School of Economics - Erasmus University Rotterdam

Program Description

MSc in Economics and Business - Specialisation in Behavioural Economics

Erasmus School of Economics - Erasmus University Rotterdam

MSc in Economics and Business - Specialisation in Behavioural Economics

The human side of economics: the impact of psychology on decision making

Why do people not always act as rational economic decision makers? How can we apply mathematics and psychology to improve our economic models? Contrary to assumptions in traditional economics, people do not automatically choose the optimal course of action, even if given proper incentives. Intrigued? Our Behavioural Economics programme brings you the skills to optimise strategies and policies by including the framing and context that affect people’s choices.

The skills-based specialisation addresses the psychology of decision making. In both mainstream and behavioural economics courses you will acquire both a deep understanding of economics and the skills to adapt strategies and policies to deviations from rational behaviour.

Erasmus School of Economics, where else?

Few universities offer this increasingly popular stream of economics. If Behavioural Economics is your programme of choice, Rotterdam, the frontrunner in economics, makes perfect sense. Select the curriculum that suits you best, study among ambitious and inquisitive co-students and benefit from the expertise of the internationally renowned Behavioural Economics Group.

Careers

Countries like the US, UK, and the Netherlands, and companies worldwide increasingly use the insights from Behavioural Economics to shape their policies. With this specialisation, you can either help improve products, marketing policies, negotiation procedures, contracts, and financial portfolios in business, or design and improve public economic policies and strategies. It’s up to you. Careers are possible in many sectors, including:

  • Consultancy
  • Financial sector
  • Governments
  • Research

"It’s great to be able to combine the math and psychology of Behavioural Economics with the track of your choice"

Curriculum

The Master’s curriculum consists of both courses in mainstream economics and courses in Behavioural Economics. Students can choose between 3 tracks in mainstream economics:

  • Financial Economics Track
  • Economics of Management and Organisation Track
  • Marketing Track

These tracks consist of courses and seminars of the corresponding specialisations of the Master of Economics and Business.

In the core Behavioural Economics courses (4 cr.) students learn the most recent insights from Behavioural Economics. In the seminars (12 cr.) they learn to apply these insights. Seminars are interactive and require the active participation of students. A Master’s thesis, written individually under the close supervision of one of our academic staff members, completes the Master’s specialisation.

Testimonials

Rashiq Muhaimen

'The programme has a very good mix of theory and practical applications'

Why did I choose Behavioural Economics?

I am a firm believer in economics, but even so, I had to acknowledge that standard economic models make “wrong” predictions. We are not rational and not everyone processes information in the same manner, people have emotions and so on and so on. I was interested in learning ways to model human behaviour better. I wanted to learn about models that make better predictions than standard economic models.

The curriculum

The programme has a very good mix of theory and practical applications. The courses focus on teaching the theories of behavioural economics while the seminars focus on applying behavioural insights to address real-world issues. Issues that range from something as large as climate change; to smaller things such as how can we nudge people to take the stairs instead of the elevator?

However, it is not only behavioural economics courses. You have to choose a track so you can specialise in Finance, Marketing or Economics of Management and Organisation. I chose the finance track but all tracks complement the behavioural economics courses.

I am going to pursue a career in either consulting or banking

After finishing the masters' degree, I am going to pursue a career in either consulting or banking. But it opens up many doors; you can work anywhere from large corporates and multinationals to social enterprises and NGOs or of course do a PhD.

Cost & Fees

  • € 2.060 EEA/EU students*
  • € 14.700 NON-EEA/EU students**

*This is the statutory tuition fee for Dutch students, students from another country within the European Economic Area (EEA), the European Union (EU), Switzerland and Suriname who meet the statutory conditions.

**This is the institutional tuition fee for students for whom the statutory tuition fee does not apply. You have to pay the institutional fee if you:

  • don’t have an EU-, EEA, Swiss or Surinamese nationality
  • have finished a Dutch programme and want to follow another programme on the same level
This school offers programs in:
  • English


Last updated August 31, 2018
Duration & Price
This course is Campus based
Start Date
Start date
Sept. 2019
Duration
Duration
1 year
Full time
Price
Price
2,060 EUR
EEA/EU students; €14.700 NON-EEA/EU students.
Information
Deadline
Request Info
1 August for ESE students
Locations
Netherlands - Rotterdam, South Holland
Start date : Sept. 2019
Application deadline Request Info
1 August for ESE students
End date Request Info
Dates
Sept. 2019
Netherlands - Rotterdam, South Holland
Application deadline Request Info
1 August for ESE students
End date Request Info