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MSc Behavioural and Experimental Economics
Newcastle - England
INTAKE: September
Program Overview
The MSc Behavioural and Experimental Economics program at Newcastle University focuses on the intersection of economics and psychology, providing students with a deep understanding of how individuals and organizations make economic decisions. The course blends traditional economic theories with behavioral insights, exploring topics such as cognitive biases, risk perception, game theory, and market behavior. By integrating experimental research techniques and data-driven analysis, students gain valuable skills applicable in both the public and private sectors, including finance, government policy, health economics, and corporate strategy.
Curriculum: The program offers a rigorous and comprehensive curriculum that combines theoretical knowledge with practical applications. Core modules include Behavioral Economics, Experimental Economics, Microeconomic Theory, Applied Econometrics, and Decision Theory. Students also explore specialized topics such as nudging and choice architecture, market design, financial decision-making, and neuroeconomics. The program places a strong emphasis on research methods, with training in statistical analysis, experimental design, and the use of software tools such as STATA and R. A key component of the course is the dissertation, where students conduct independent research, applying behavioral and experimental economic principles to address real-world economic issues.
Research Focus: Newcastle University is at the forefront of behavioral and experimental economics research, with a strong reputation for groundbreaking studies in decision-making, market dynamics, and policy design. The university's research centers focus on areas such as consumer behavior, financial market psychology, and social influence on economic decisions. Students in the MSc Behavioural and Experimental Economics program benefit from research-led teaching and the opportunity to collaborate with faculty members on innovative projects. The program encourages students to engage with cutting-edge methodologies, including lab and field experiments, computational modeling, and big data analysis, ensuring they develop advanced analytical skills.
Industry Engagement: A key strength of the MSc Behavioural and Experimental Economics program is its strong connections with industry and policymakers. Newcastle University collaborates with government institutions, financial organizations, and multinational corporations to provide students with practical exposure to real-world economic challenges. Students have opportunities to work on industry projects, internships, and policy-driven research, gaining insights into the applications of behavioral economics in business, finance, and public policy. The university also hosts guest lectures, workshops, and networking events featuring industry experts and academics, allowing students to engage with professionals in the field.
Global Perspective: Newcastle University emphasizes a global approach to economic education, preparing students to apply behavioral and experimental economic principles in diverse international contexts. The MSc Behavioural and Experimental Economics program includes global case studies, cross-cultural behavioral analysis, and international economic policies, ensuring students develop a broad understanding of economic decision-making worldwide. The university offers opportunities for international research collaborations and exchange programs, allowing students to gain experience in different economic systems. This global outlook is essential for professionals looking to work in international financial markets, multinational corporations, or global policy-making institutions.
Location
Newcastle - England
Score
IELTS: 6.5
Tuition Fee
£ 27100
Postgraduate Entry Requirements:
- Applicants should have successfully completed a bachelor's degree or its equivalent from a recognized institution with a minimum overall score of 60% or equivalent.
- English language proficiency is required, and applicants must provide evidence of their English language skills through an approved language test.
- IELTS: A minimum overall score of 6.5 with no individual component below 6.0.
- TOEFL: A minimum overall score of 90, with at least 19 in Listening, 20 in Reading, 22 in Speaking, and 20 in Writing.
- PTE Academic: A minimum overall score of 70 with no individual score below 65.
- Some postgraduate programs may have specific subject prerequisites or additional requirements.
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
Newcastle University in the UK offers a range of scholarships to international students, providing them with financial support to pursue their studies. These scholarships aim to attract talented and academically outstanding students from around the world.
Vice-Chancellor's International Scholarships: These scholarships are highly competitive and are awarded to exceptional international students who have demonstrated academic excellence. The scholarships cover a partial tuition fee reduction.
International Family Discounts: Newcastle University offers a family discount scheme where siblings or married couples who are both studying at the university can receive a tuition fee reduction.
GREAT Scholarships: Newcastle University participates in the GREAT Scholarships program, which is a joint initiative by the British Council and UK universities. These scholarships are available for students from specific countries and cover full or partial tuition fees.
Chevening Scholarships: Newcastle University is a Chevening Partner, and eligible students can apply for the prestigious Chevening Scholarships, which are funded by the UK government. These scholarships cover tuition fees, living expenses, and other allowances.
Country-specific Scholarships: Newcastle University offers a range of scholarships specifically for students from certain countries. These scholarships may be based on academic merit, financial need, or specific criteria defined by the funding organization.
Research Scholarships: Newcastle University offers research scholarships for international students undertaking a Ph.D. or research-based master's degree. These scholarships often include a stipend to cover living expenses in addition to tuition fee support.
Postgraduate Scholarships: Newcastle University provides various scholarships for international students pursuing postgraduate studies. These scholarships may be discipline-specific or open to students from any field of study.
The MSc in Behavioural and Experimental Economics at Newcastle University in the UK is a highly specialized program designed to equip students with advanced knowledge and skills in the field of behavioral economics and experimental methods. This program combines economic theory with insights from psychology, sociology, and neuroscience to understand and analyze human behavior in economic decision-making. Graduates of this program have excellent career prospects in academia, research institutions, government agencies, and the private sector.
Researcher: Graduates can pursue careers as researchers in academic institutions, think tanks, and research organizations. They can conduct empirical research using experimental methods to study economic behavior, decision-making, and policy interventions. Graduates can contribute to advancing knowledge in the field and publishing research papers in top-tier academic journals.
Policy Analyst: Graduates can work as policy analysts in government agencies, international organizations, and research institutions. They can analyze economic data and behavioral insights to inform the design and evaluation of public policies. Graduates can contribute to policy development in areas such as healthcare, education, finance, and environmental sustainability.
Data Analyst: Graduates can work as data analysts in various industries, including finance, marketing, and consulting firms. They can apply their skills in statistical analysis and behavioral economics to extract insights from large datasets and provide evidence-based recommendations for decision-making. Graduates can help businesses optimize their strategies and understand consumer behavior.
Behavioral Economist: Graduates can work as behavioral economists in research institutions, consulting firms, or government agencies. They can apply behavioral economics principles to understand consumer behavior, market dynamics, and policy implications. Graduates can contribute to the design and implementation of interventions that nudge individuals towards making better economic choices.
Economic Consultant: Graduates can work as economic consultants, providing specialized expertise in behavioral economics to businesses and organizations. They can help clients understand consumer preferences, conduct market research, and develop strategies that align with behavioral insights. Graduates can assist companies in optimizing pricing strategies, product design, and customer engagement.
Financial Analyst: Graduates can work as financial analysts in banks, investment firms, and financial institutions. They can utilize their understanding of behavioral economics to analyze market trends, investor behavior, and risk management strategies. Graduates can contribute to investment decision-making and the development of innovative financial products.
Market Researcher: Graduates can work as market researchers, collecting and analyzing data on consumer behavior, preferences, and decision-making processes. They can apply experimental methods to design studies, conduct surveys, and interpret market research findings. Graduates can help businesses gain insights into customer needs and develop effective marketing strategies.
Academic Lecturer: Graduates can pursue a career in academia and become lecturers or professors in universities. They can teach courses in behavioral economics, experimental methods, and economic theory. Graduates can also mentor students, supervise research projects, and contribute to the academic community through publishing research papers and participating in conferences.
Entrepreneurial Ventures: Graduates with a strong background in behavioral and experimental economics can leverage their knowledge to start their own entrepreneurial ventures. They can apply behavioral insights to develop innovative business models, products, or services that cater to consumer preferences and decision-making biases.
Ph.D. and Further Research: Graduates who excel in the MSc program may choose to pursue a Ph.D. in behavioral economics or a related field. This path can lead to academic careers as professors and researchers, conducting in-depth research and contributing to the advancement of the field.
