Economic and Consumer Psychology (MSc)
- Part of
- Psychology (MSc)
The master's specialisation Economic and Consumer Psychology makes you an expert in the field of the psychological determinants of economic and consumer decision making (e.g., why people buy certain products or services).
Alumnus Economic and Consumer Psychology
The useful part of my study is the knowledge about consumer behavior and consumer decision-making, as well as team management and team motivation
Currently, I have a senior role, where my responsibilities vary from doing a simple research task, to leading a production team or recruiting new people. I am responsible for delivering a top-notch product and establishing a professional team to build the future of the company. Being part of a small startup company I have to face many challenges on a daily basis. One of them is the change in workload, where some weeks require more labor than others. Another challenge is the uncertainty, where my future depends on the success of the products and services I help to deliver. Nevertheless, I am very satisfied where I am right now.
Prof. Dr. Wilco van DIjk
Professor by Special Appointment of Psychological Determinants of Economic Decision Making
“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!”
What does this master's programme entail?
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.
Reasons to choose Economic and Consumer Psychology at Leiden University
- You will widen your outlook on a subject that is and always will be relevant: consumer behaviour.
- You will be a top candidate for functions in the marketing or advertisement business.
- After graduation, you will be able to offer a new and refreshing perspective in the developments within the commercial sector. This means that as an Economic and Consumer Psychologist, you can add a lot of expertise to interdisciplinary workgroups.
Economic and Consumer Psychology: the right programme for you?
The Leiden programme in Economic and Consumer Psychology has a core curriculum with a focus on the integration of psychological and economic theories and practice. The programme provides students with in-depth knowledge of the field by emphasizing general principles that underlie economic and consumer behaviour. This is reflected in courses that stress the basic principles of these behaviours and build on these basic principles.