Psychology of Economic Life

Entry requirements

Upper second class honours (2:1) degree or equivalent in any discipline, with a considered interest in the area covered by the MSc.

Months of entry

September

Course content

About the MSc programme

The MSc Psychology of Economic Life teaches you to understand and shape economic behaviour - beyond homo economicus (economic man).

The programme’s content is organised along two themes: understanding economic behaviour and shaping economic behaviour. Firstly, understanding economic behaviour. In this theme, students will be exposed to key thinkers, theories and recent research in social sciences and economic psychology. Topics in this theme are for instance mental accounts, psychological contracts, decision-heuristics, and social norms for consumption. Secondly, shaping economic behaviour. In this theme, students are introduced to new approaches in behavioural design. Topics here include nudging and installations. Putting both themes together, this MSc seeks to integrate theory with practical application.

The aspiration of the MSc programme is to apply the knowledge learned towards making the world a better place. As such, we seek to apply realistic psychological knowledge to enable more sustainable business models, products, and organisations. We intend to explore new pathways for the economic life of society, beyond the status quo.

The contents of this master's is best represented by former students’ essays. Two notes regarding the orientation of the programme. Firstly, it's grounded in psychological and behavioural science. Hence, although it makes use of statistics, it does not cover formal mathematical modelling of economic phenomena, and is also open to qualitative investigations. Secondly, it draws inspiration from social science theorists. As such, the MSc will have a broader scope than other conventional programmes in psychology.

Department of Psychological and Behavioural Science

The Department of Psychological and Behavioural Science is an interdisciplinary faculty and research team, with research areas spanning across social psychology to behavioural economics, political psychology to organisational culture, consumer behaviour to public engagement, and community development to global health, happiness and well-being. The Department's research focuses on real world issues, thus their research is both theoretically well-informed, and produces results that impact policy, business, and society at large.

The Department draw on the best social science research to build and teach new insights for diagnosing organisational problems, explaining activity, and improving organisational capabilities.

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.

If you are applying to LSE from outside of the UK then take a look at our Information for International students.

Fees and funding

Fees

Every graduate student is charged a fee for their programme. Visit the website for more information about the fees.

Funding

The School recognises that the cost of living in London may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for needs-based awards from LSE, including the Graduate Support Scheme, Master's Awards, and Anniversary Scholarships.

Selection for any funding opportunity is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.

Find out more about financial support.