MSc Behavioural and Economic Science (Economics Track)

Postgraduate Entry requirements

1. Academic Qualifications: Postgraduate applicants are expected to hold a relevant undergraduate degree from a recognized institution, with a minimum academic achievement of 60% to 80%.  

2. English Language Proficiency:  

• IELTS (International English Language Testing System): Minimum overall score of 6.5, with minimum component scores of two at 6.0/6.5 and the remaining components at 6.5 or above.

• TOEFL (Test of English as a Foreign Language): Minimum score of 100 on the internet-based test (iBT), with minimum sub-scores of Reading 22, Listening 21, Speaking 23, and Writing 21.

• PTE (Pearson Test of English): Minimum overall score of 70, including 59 or above in all components.

Students must provide:

• academic marksheets & transcripts
• letters of recommendation
• a personal statement - SOP
• passport
• other supporting documents as required by the university.

Work experience: Some postgraduate courses may require relevant work experience in the field.

It is important to note that meeting the minimum entry requirements does not guarantee admission, as the university considers factors such as availability of places and competition for the program. Additionally, some courses may have higher entry requirements or additional selection criteria, such as interviews or portfolio submissions.

The University of Warwick offers a range of scholarships and financial aid opportunities to support international students pursuing their academic aspirations at one of the UK's leading universities. These scholarships are designed to recognize academic excellence, promote diversity, and alleviate financial barriers to higher education. 

Chancellor's International Scholarship: The Chancellor's International Scholarship is offered to outstanding international PhD applicants across all disciplines. This scholarship covers the full payment of overseas tuition fees and provides a generous stipend to support living expenses. Recipients of this scholarship are selected based on academic excellence and research potential.

Warwick Marshall Scholarship: The Warwick Marshall Scholarship is open to students from select developing countries who wish to pursue a Master's degree at Warwick. This scholarship covers full tuition fees, accommodation, and living expenses for the duration of the Master's program. Applicants must demonstrate academic excellence, leadership potential, and a commitment to making a positive impact in their home countries.

Commonwealth Shared Scholarship: Warwick participates in the Commonwealth Shared Scholarship scheme, which enables students from eligible Commonwealth countries to pursue a Master's degree in selected subjects at the university. This scholarship covers tuition fees, airfare, living expenses, and other allowances. Applicants must meet specific eligibility criteria outlined by the Commonwealth Scholarship Commission.

Other Departmental Scholarships: Various academic departments and faculties at Warwick offer specific scholarships and funding opportunities for international students based on academic merit, research potential, and other criteria. These scholarships may vary by program and are typically advertised on departmental websites.

External Funding Sources: In addition to university-specific scholarships, international students are encouraged to explore external funding sources, including government scholarships, corporate sponsorships, and international organizations offering financial support for higher education. The university's international office provides guidance and resources to help students identify and apply for external funding opportunities.

It is important to note that scholarship availability, criteria, and application deadlines may change from year to year.

The MSc in Behavioural and Economic Science (Economics Track) at the University of Warwick equips graduates with a unique blend of skills that are highly valued across various industries. The program’s rigorous academic training, combined with its practical applications, prepares students for a wide range of impactful careers. Graduates are adept at integrating psychological insights with economic models to solve complex problems, making them highly sought after in both public and private sectors.

1. Economic and Policy Analyst: Graduates are well-prepared for roles as economic and policy analysts in government agencies, think tanks, and international organizations. In these positions, they use their understanding of behavioral economics to design and evaluate policies aimed at improving societal outcomes. Their ability to analyze data and predict the effects of policy changes helps in creating effective interventions that consider human behavior, making them valuable assets in public policy formulation and evaluation.

2. Behavioral Economist and Consultant: Many graduates pursue careers as behavioral economists and consultants, working with consultancy firms, financial institutions, and corporations. They apply behavioral insights to improve business strategies, marketing campaigns, and financial products. Their expertise in understanding consumer behavior and decision-making processes enables them to offer innovative solutions that enhance customer engagement and satisfaction. Behavioral economists are instrumental in designing products and services that align with human behavior, thus driving better business outcomes.

3. Data Scientist and Analyst: The program’s strong emphasis on quantitative skills and data analysis opens up opportunities for graduates to work as data scientists and analysts. In these roles, they analyze large datasets to uncover patterns and insights that inform business decisions and policy development. Their proficiency in econometrics, statistical analysis, and experimental design makes them capable of conducting robust analyses that can drive data-driven decision-making in various sectors, including finance, healthcare, and technology.

4. Academic and Researcher: Graduates interested in academia can pursue careers as researchers and lecturers at universities and research institutions. Their deep understanding of behavioral and economic theories, combined with their research skills, allows them to contribute to the academic community through teaching and publishing original research. They can lead research projects that explore new dimensions of behavioral economics, contributing to the advancement of the field and influencing future economic policies and business practices.

5. Marketing and Consumer Insights Specialist: The insights gained from the program are highly applicable in the field of marketing and consumer research. Graduates can work as marketing and consumer insights specialists, where they analyze consumer behavior to develop effective marketing strategies and campaigns. Their ability to apply behavioral economic principles helps companies understand what drives consumer choices, leading to more targeted and impactful marketing efforts. This role is crucial for businesses looking to optimize their marketing investments and achieve higher returns.

6. Financial Analyst and Behavioral Finance Specialist: In the financial sector, graduates can excel as financial analysts and behavioral finance specialists. These roles involve analyzing market trends, investment behaviors, and economic indicators to provide recommendations for investment strategies and risk management. Their understanding of behavioral biases and decision-making processes allows them to offer unique perspectives that enhance traditional financial analysis, helping clients make better-informed investment decisions.

7. Human Resources and Organizational Development Consultant: Behavioral insights are also valuable in the realm of human resources and organizational development. Graduates can work as HR consultants or organizational development specialists, where they apply behavioral economics to improve employee engagement, productivity, and overall workplace culture. By understanding what motivates employees and how they make decisions, these professionals can design better HR policies and organizational practices that lead to a more motivated and efficient workforce.