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.

Study Details:

12 months full-time only

Module Details:

Compulsory core courses (3.0 credits)

Psychology of Economic Life (PB403)
Psychological and Behavioural Science (PB400) (Non-credit Bearing)
Methods for Social Psychological Research (PB411)
Dissertation (PB410)

Programme Funding

The School recognises that the cost of living in London may be higher than in your home town or country, and we provide over £13 million in scholarships each year to graduate students from the UK, EU and overseas.

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

Student Destinations

The content of the Master’s programme is broadly relevant to all situations in which an understanding of economic phenomena can be of advantage.

Roles for which the contents are of particular interests include (but are not limited to): consultancy roles (eg management consultant), market interface roles (e.g., product manager, project manager, marketing manager), behavioural insights roles (eg market researcher, policy analyst), and business psychology roles (eg organisational designer).

The contents are applicable in both the private sector (e.g. consultancy, big corporations, social businesses, start-ups) and public sector (e.g., governments, NGOs, charities). This programme provides skills to the fast-growing demand for innovative and more sustainable ways of doing business. You may also choose to continue to obtain a PhD and pursue an academic career.


UK/EU: £16,656 Overseas: £22,608

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.

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London School of Economics and Political Science

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