Dive into hidden motives and mechanisms
In the Behavioural Economics and Game Theory track in the Economics Master’s you learn about the psychological, social and strategic considerations of economic behaviour. The way in which we frame our problems determines our decisions. Dive into such hidden motives and mechanisms in this track.
Why choose the Behavioural Economics track?
- Beside the 3 general courses of the MSc Economics in your curriculum, you will have 5 track-specific courses with a focus on the psychology of economic behaviour and interaction.
- You will learn from professors and experts working in a wide range of economic organisations and fields. Therefore, you have access to up-to-date cases and insights from the field of behavioural economics.
- After graduation, you have an excellent job prospect at e.g. national ministries.
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Apart from the 3 general courses of the full programme, you will take 5 track-specific courses.
Advanced Game Theory
In this analytically challenging course you will dive into the concept of strategic interdependent decision making. Study theoretical concepts and their applications like the oligopoly, auctions, bargaining, reputation and signalling.
In this course you will learn to understand the psychological underpinnings of economics behaviour and of recent theories in behavioural economics. By critically reading and evaluating academic papers you will gain insight in individual choice and strategic interaction, especially social preferences and reciprocity.
In this course you will learn the basic methodology of experimental economics: how to design a simple experiment, including writing instructions. You will practice both with laboratory and field experimentation evolving around:
- industrial organisation;
- labour economics;
- behavioural economics;
- individual and group decision making.
Evolution and Behaviour
How does evolution shape human behaviour in general and behaviour in economic situations in particular? To answer this question you will learn to understand the basic principles of evolutionary dynamics and evolutionary game theory.
Mandatory electives: semester 2
Choose 1 out of 2 electives:
- Topics in Behavioural Economics
Analyse the Brexit negotiations using game theory. Game theory is invented by John Nash, the Nobel prize winner featured in the film 'A Beautiful Mind'. The theory is about mathematically determining the likely outcomes when 2 or more parties are negotiating. It provides a logical way of picking through various claims and counter-claims.
Examples of current newspaper headlines and relevant issues that could be discussed in your classroom.
- Does overconfidence affect risk taking and financial returns?
- What is the optimal gasoline tax in a Europe without borders?
- Experimental economics: are people inclined to take more risk under stress?
Graduates of the Master's programme in Economics/Behavioural Economics and Game Theory track have excellent job prospects for positions as researchers and experts in:
- national ministries and governmental agencies (ministries of finance and economic affairs, economic forecasting agencies, statistical agencies);
- bureaus for policy analysis.