Economics, Institutions, and Behaviour (MSc)

The MSc in Economics, Institutions, and Behaviour offers comprehensive training in economics and is taught entirely in English. This programme distinguishes itself from standard MSc Economics curricula through its distinctive focus on the economic analysis of institutions, integrating behavioural perspectives. This emphasis stems from the understanding that an economy's performance critically depends on its institutions — ranging from formal laws, regulations, social security systems, and central bank design to informal institutions like social norms. After completing foundational courses, students can tailor their studies by choosing from three specialisation areas: Political Economy; Sustainability; and Money, Accounting, and Finance. Students in the MSc in Economics, Institutions, and Behaviour benefit significantly from joining an international cohort, experiencing small class sizes that foster intensive interaction with lecturers, and engaging with a programme backed by many years of successful delivery. In accordance with the Bologna guidelines for European higher education, the programme is structured for students to achieve 30 ECTS credit points per semester, culminating in a total of 120 ECTS. The curriculum is composed of the following modules: Foundations (24 ECTS): This module provides introductory courses in Institutional Economics and Behavioural Economics, while also establishing essential groundwork in Theoretical Microeconomics and Empirical Analysis for subsequent studies. Institutions and Behaviour: Theory (18 ECTS): Focuses primarily on advanced courses in institutional economics, characterised by a theoretical methodological approach. Institutions and Behaviour: Empirics (18 ECTS): Offers advanced courses in institutional economics, distinguished by an empirical methodological approach. Specialisation Areas (Up to 30 ECTS can be chosen from one or more areas): Political Economy: Explores the interplay between the political sphere and the economy, analysing factors like political competition and the role of politicians as self-interested actors. Sustainability: Addresses diverse societal and organisational sustainability challenges, employing various methods within an interdisciplinary framework to identify potential solutions. Money, Accounting, and Finance: Provides perspectives from both economics and business administration on financial markets, equipping students for careers in this sector. Electives (up to 18 ECTS): This area allows students to broaden their academic scope by exploring other disciplinary perspectives or to gain practical, career-oriented insight through an internship eligible for academic credit. Master's Thesis (30 ECTS): The programme concludes with the Master's thesis. In this final phase, students conduct an independent research project under the supervision of an experienced professor, applying the analytical skills and knowledge acquired throughout the programme.