Economic and Consumer Psychology

Specialisation of: Psychology
Degree: Master of Science in Psychology
Mode of Study: Full-time
Duration: 1 year
Start date: September and February
Language of instruction: English
Location: Leiden
Croho/isat code: 66604
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Our days are filled with countless decisions and the consequences of these decisions. And if this is not already hard enough by itself, companies and organisations try to influence our choices and decisions, through marketing and advertising. But how do we decide? How rational are our choices? How do we sell our own products and ideas to others? As economic behaviours overlap to a large extent with social behaviours, the master’s specialisation in Economic and Consumer Psychology has a lot to offer in answering these questions.

Career

The master’s specialisation in Economic and Consumer Psychology trains students for a wide range of positions in public or private organisations, including: policy researcher, communication consultant, marketing professional, public relations officer, market research analyst, advertising researcher, etc.

Dr Wilco van Dijk

“Economics is at least 50% Psychology.”

“We are all consumers, making more or less important decisions and choices on a daily basis. Models of human decision-making have been dominated by economic theories and the view of people as Homo Economicus. But we are not homo economicus; we are Homo Sapiens with desires, beliefs, and emotions.

Economics is at least 50% psychology, and psychology can help to broaden the view of human nature. Fortunately, more and more elements from psychology are becoming introduced into economics. The psychologist Daniel Kahneman received the Nobel Prize for economics. Behavioural economists Richard Thaler and Cass Sunstein wrote a best-selling book (Nudge) on how policy making can be improved by combining insights from economics and psychology.

So, psychology is starting to make a difference, but there is still a long way to go. Our master’s specialisation in Economic and Consumer Psychology will train students to build bridges between economics and psychology.

And can we make a difference? Yes, we can!”