Behavioral Economics Master's Degree Programs

While behavioral economics may not be offered as its own master's degree program, you can find courses in this subject in many master's-level economics or psychology programs. Learn more about your program options, the courses you could take and your career opportunities related to behavioral economics. Schools offering Fashion Design & Merchandising degrees can also be found in these popular choices.

Can I Earn a Master's Degree in Behavioral Economics?

There are no master's-level programs or concentrations available in behavioral economics, either on campus or online, as of March 2014. But you can study this field through courses found within a master's degree program in economics or psychology. The first step is for you to examine a program's curriculum to see if it offers one or more classes in behavioral analysis, consumer decision-making or neuroeconomics.

Program FieldsEconomics, psychology
Key Program ConceptsHuman behavior, unbounded rationality, unbounded willpower, unbounded selfishness, loss aversion
Common Course TopicsNeuroeconomics, altruism, behavioral finance, behavioral marketing, risk management
Career PossibilitiesConsultant, research analyst, economic development specialist
Median Salary (2018)$104,340 (Economists)
Job Outlook (2018-2028)8% growth (Economists)

Source: U.S. Bureau of Labor Statistics (BLS)

What Is Behavioral Economics?

While many economic courses focus on objective spending and calculations, the study of behavioral economics focuses on human behavior and factors in how people think. If you choose to explore behavioral economics, you can expect to learn about unbounded rationality, unbounded willpower and unbounded selfishness. You also study how loss aversion and mental accounting can play cause-and-effect roles in your decision-making. For instance, if you were being paid a fixed amount as a salary, you may spend less time on a task than you would if you were being paid hourly.

What Will I Study?

A course in behavioral economics teaches you how economic assumptions reflect psychological rationalities. It also focuses on learning the patterns of choices and how they affect the market. You study self-control, selfishness, memory, altruism and the thinking process. You may also look at behavioral finance or behavioral marketing.

In a neuroeconomics course, you learn how to measure behavior in a variety of social settings. You study how the mind is influenced by rewards, punishment, reflection and social interaction. You also learn economic theory and how emotions affect theory. Other topics include risk management, anticipation, technical language, physiological rewards, psychophysics and the neural processes involved with economic decision-making.

What Careers Can I Consider?

With an understanding of behavioral economics, you're able to work in any area of sales or finances. Some of the job titles you may want to consider are consultant, research analyst or economic development specialist. However, you must keep in mind that this program is just as much psychology as it is economics; therefore, you can consider continuing your education to earn a Doctor of Philosophy in Psychology.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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