MSc Psychology of Economic Life

at London School of Economics

Curriculum Overview

This programme consists of courses worth 4.0 credit units. In the first term, you will take the core course in Psychology of Economic Life and an overview course in Psychological and Behavioural Science (1.0 credit). In the second term, you will take two electives of your choice (each worth 0.5 credits). In the last term, you will complete an empirical research dissertation (1.0 credit). Over all three terms, you will receive training in Methods for Social Psychological Research (1.0 credits).

 

In addition to these courses, all students are free to audit lectures at LSE upon the approval of the respective course conveyer.

 

All courses at LSE consist of lectures, which teach the theory, and seminars, which are conducted in smaller groups and are more applied.

 

Compulsory core courses (3.0 credits)

 

Psychology of Economic Life (PB403)
This course teaches key social science and social psychological theories; you will learn how to use them to address economic life in a novel and powerful manner.

 

Psychological and Behavioural Science (PB400) (Non-credit Bearing)
An overview course in Psychological and Behavioural Science that introduces current research conducted in the Department. Contents are applied to Psychology of Economic Life in the seminars. This course is a compulsory component of PB403 and its assessment will form 20% of the overall mark.

 

Methods for Social Psychological Research (PB411)

A module of 3 courses, providing method training in quantitative research methods (MY465), qualitative research methods (MY421M), and research design. More advanced courses can be selected or audited if relevant to dissertation.

 

Dissertation (PB410)
An independent research project of up to 10,000 words on a topic of your choice, involving empirical research and supervised by a member of faculty.

 

Elective courses (two at 0.5 credits each)

 

The following electives are aligned towards the core themes of this Master. For other possible electives, please refer to the Programme Regulations below.

Social Psychology of Economic Life: Advanced Topics (PB431)

PB431 presents how social psychology (broadly interpreted to include micro-sociology, cultural anthropology and social neuroscience) is the key to understanding real-world economic life by taking into account cognitive, affective and social processes, and also to contributing to better solutions to societal problems.

Consumer Psychology (PB417)

The course will address the psychology of consumption at different levels of analysis: individual, group and societal.  It will try to ground this psychology in fundamental theories that will allow students to develop a mental model of human behaviour as it relates to consumption.

Courses to the value of one unit from a range of options

Minimum entry requirements for MSc Psychology of Economic Life}

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

 

Competition for places at the School is high. This means that even if you meet the minimum entry requirement, this does not guarantee you an offer of admission.

very graduate student is charged a fee for their programme.

The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

 

Tuition fees 2022/23 for MSc Psychology of Economic Life
Home students: £18,024
Overseas students: £24,456

Career development - MSc Psychology of Economic Life

 

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.