MSc Behavioural and Experimental Economics

1 Year On Campus Masters Program

University of Essex

Program Overview

The MSc Behavioural Economics at the University of Essex blends economic theory with insights from psychology to help students understand how people actually make decisions. It’s ideal for those aiming to work in policy, finance, or consultancy, where understanding real-world behaviour is key to designing better outcomes.

Curriculum Structure

Autumn Term
You’ll start with Behavioural Economics I, which introduces foundational concepts like bounded rationality, heuristics, and prospect theory. Alongside this, Microeconomics provides a rigorous grounding in traditional economic models, while Econometric Methods equips you with the statistical tools to analyse behavioural data.

Spring Term
In the second term, Behavioural Economics II deepens your understanding of experimental methods and behavioural game theory. You’ll also take Applied Econometrics, where you’ll work with real-world data to test behavioural hypotheses. Optional modules such as Public Choice or Economics of Financial Markets allow you to tailor your learning to your interests.

Summer Term
You’ll complete a supervised dissertation, applying behavioural insights to a research question of your choice—whether that’s consumer behaviour, policy nudges, or financial decision-making. This is your opportunity to produce original work using the methods and tools you’ve developed throughout the year.

Focus areas: Behavioural economics, experimental methods, econometrics, decision-making, public policy
Learning outcomes: Behavioural modelling, data analysis, experimental design, policy evaluation
Professional alignment (accreditation): Delivered by Essex’s Department of Economics, known for its strength in behavioural and experimental economics
Reputation (employability rankings): 4th in the UK for research power in economics and econometrics (REF 2021); Top 25 in the UK for economics and econometrics (QS World University Rankings 2024)

Experiential Learning (Research, Projects, Internships etc.)

The MSc Behavioural Economics at Essex is designed to immerse you in the real-world application of behavioural insights. You’ll work with experimental data, simulation tools, and statistical software to explore how people make decisions—and how those decisions can be influenced. The program is delivered by Essex’s Department of Economics, internationally recognised for its strength in behavioural and experimental research.

Here’s how experiential learning is built into the program:

Experimental Economics Lab: A dedicated facility where students design and run behavioural experiments, often in collaboration with faculty research projects.
Software Training: Core modules like Econometric Methods and Applied Econometrics include hands-on training in STATA and R, essential for analysing behavioural data.
Dissertation with Experimental Focus: Students can conduct original experiments or analyse existing datasets to explore behavioural phenomena in areas like consumer choice or public policy.
Group-Based Assignments: Modules such as Behavioural Economics II include collaborative projects that simulate real-world decision-making and policy design.
Albert Sloman Library: Offers extensive access to behavioural economics journals, datasets, and digital archives including JSTOR, EconLit, and OECD iLibrary.
Department Seminars and Guest Lectures: Regular events feature speakers from the Bank of England, behavioural consultancies, and policy think tanks, giving students exposure to current practice and networking opportunities.

Progression & Future Opportunities

Graduates of the MSc Behavioural Economics at Essex are uniquely positioned to work at the intersection of economics, psychology, and data. Employers value the program’s blend of analytical rigour and behavioural insight, which opens doors in both public and private sectors. Typical job roles include: behavioural economist, policy advisor, data analyst, and behavioural insights consultant.

Here’s how Essex supports your career journey:

Essex Career Services: Offers lifetime support including one-on-one career coaching, employer events, and access to exclusive job boards. Economics students also benefit from departmental workshops and alumni panels focused on behavioural and data-driven careers.
Employment Outcomes: Essex ranks 4th in the UK for research power in economics and econometrics (REF 2021), and its graduates are known for their strong quantitative and behavioural analysis skills.
Industry Connections: The Department of Economics hosts regular seminars with speakers from the Bank of England, behavioural consultancies, and public policy institutions, giving students direct exposure to applied behavioural work.
Long-Term Value: Delivered by a globally recognised economics department, the MSc ensures your qualification is respected across sectors and internationally.
Graduate Outcomes: Students leave with advanced training in behavioural modelling, experimental design, and econometrics—skills that are in high demand across government, finance, and consultancy.

Further Academic Progression:
Graduates can pursue doctoral study through Essex’s PhD in Economics or Behavioural Science, joining a research community focused on experimental economics, decision theory, and public policy. The MSc also provides a strong foundation for interdisciplinary research in psychology, data science, or public administration.