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Economic Psychology

Modern management requires psychological knowledge

The Economic Psychology course is an ideal opportunity to expand the content of your economics studies with psychological aspects that are relevant to the business environment.

You are passionate about...

  • psychological aspects of human decision-making behaviour
  • understanding the behaviour of consumers
  • gaining insights into the methodical approach of business psychology

Career Opportunities

The Economic Psychology specialisation will open up the following career areas to you:

  • Product innovation, development and management
  • Marketing (pricing, advertising)
  • Market research
  • Corporate strategy tasks, in particular to support innovation processes
  • Management consultancy

Practice Workshop

You will apply the knowledge you have gained to solve operational problems in the light of psychological findings. This will involve analysing cases and suggesting solutions appropriate to the situation.

Specialisation in Economic Psychology

In the Economic Psychology specialisation you will get to know basic psychological theories and models and gain an insight into the methodological approach of business psychologists. You will be taught key concepts, methods and the findings of psychology – in particular of decision-making and social psychology - that are relevant to economics.

This knowledge will help you to better understand, predict and influence the decision-making behaviour of consumers. One focus of this specialisation is consumer psychology. In addition to questions on consumer behaviour, you will gain insights from market and advertising psychology. For this purpose, you will explore the needs of consumers, develop innovative products and services, and develop convincing advertising concepts.

Content

The learning content is based on current issues. New developments, technologies and theories are continuously incorporated into classwork. The most important content includes:

  • Introduction to psychology
  • Psychology of decision-making
  • Consumer behaviour
  • Behavioural economics
  • Moderation of groups (practical workshop)

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