The program is aimed at high-quality students. At least an upper second class honours degree (2.1), or equivalent, is required. This does not have to be in Economics or Finance and students from other fields, such as Business, Psychology, Law, Politics, Engineering, Math, or Physics, are welcome. However, some background in quantitative subjects is necessary. At a minimum, students should have taken at least one module in calculus and one in statistics. Applicants whose first language is not English AND who do not hold a degree from an English-speaking university will need to take an English language test - normally IELTS. The required score for IELTS is 6.5 with no less than 6 in each component International applicants: Students from outside of the UK help form a global community here at Queen Mary. For detailed country specific entry requirements please visit the International section of our website. If your first language is not English, you must provide evidence of your English language proficiency. You can find details on our English language entry requirements here. If you do not meet language or scholarly requirements it might be possible for you to undertake a pre-masters or pre-sessional programme that will prepare you for the masters programme. For more information, please contact the Admissions Office. If you are unable to find the information you require, please contact the Admissions Office for assistance.
Months of entry
There is mounting evidence that people violate many of the "rationality" assumptions of mainstream economics. Behavioural Economics is a relatively new field that studies such violations and proposes theories to explain them. Behavioural Finance is a part of Behavioural Economics that studies important "irrationalities" on financial markets. Key topics include common mistakes people make when deciding how much to save and how to invest, excess volume of trade, equity premium puzzle, bubbles, and predictability of financial markets.
Behavioural Economics and Behavioural Finance have grown tremendously in popularity in recent years. The Nobel Prize in Economic Sciences was awarded to Daniel Kahneman in 2002 for Behavioural Economics and to Robert Shiller in 2013 for Behavioural Finance. There has been increased interest by the public, as evidenced by a spate of popular books in these areas. There has also been increased interest by governments: for example, David Cameron appointed a "Behavioural Insights Team" in 2010 to help design government policies.
The backbone of the programme consists of a first-semester module in Behavioural Economics and a second-semester module in Advanced Behavioural Finance. Apart from these two modules, students can take modules covering more traditional topics in finance.
A thorough knowledge of Behavioural Economics and Behavioural Finance provides students with a deeper and more realistic understanding of financial markets than is offered by mainstream finance alone. Such knowledge also makes students less susceptible to common mistakes in their own lives and careers. A successful completion of the programme would provide students with valuable skills for a wide range of careers in areas such as investment, banking, public service, or academia.
A slide presentation of the module is available here.
Fees and funding
Fee for home and EU students: £10,300 (+£1,000 for students taking the CFA pathway).
Fee for overseas students: £16,000 (+£1,000 for students taking the CFA pathway).
Strong applicants will be considered for a £10,000 scholarship. Applicants with a first (or equivalent) from QMUL or a comparable institution have a very good chance of being offered this scholarship.
Queen Mary graduates (who are not offered the £10,000 scholarship) may be eligible for a discount. For details, see here.
Qualification and course duration
Course contact details
- Sarah Riley
- +44 (0)20 7882 8848