Minimum entry requirements for MSc Psychology of Economic Life

Upper second class honours (2:1) degree or equivalent in any discipline, with a considered interest in the area covered by the MSc.

Competition for places at the School is high. This means that even if you meet the minimum entry requirement, this does not guarantee you an offer of admission.

If you have studied or are studying outside of the UK then have a look at our Information for International Students to find out the entry requirements that apply to you.

We welcome applications from all suitably qualified prospective students and want to recruit students with the very best academic merit, potential and motivation, irrespective of their background.

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

- academic achievement (including predicted and achieved grades)
- statement of academic purpose
- two academic references
- CV

See further information on supporting documents

You may also have to provide evidence of your English proficiency, although you do not need to provide this at the time of your application to LSE. See our English language requirements.

When to apply

Applications for this programme are considered on a rolling basis, meaning the programme will close once it becomes full. There is no fixed deadline by which you need to apply, however, to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Every graduate student is charged a fee for their programme.

The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2024/25 for MSc Psychology of Economic Life

Home students: £19,848
Overseas students: £27,480

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

Fee status

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Fee reduction

Students who completed undergraduate study at LSE and are beginning taught graduate study at the School are eligible for a fee reduction of around 10 per cent of the fee.

Scholarships and other funding

The School recognises that the cost of living in London may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for needs-based awards from LSE, including the Graduate Support Scheme, Master's Awards, and Anniversary Scholarships. 

Selection for any funding opportunity is based on receipt of an offer for a place and submitting a Graduate Financial Support application, before the funding deadline. Funding deadline for needs-based awards from LSE: 25 April 2024.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas. Find out more about financial support.

Government tuition fee loans and external funding

A postgraduate loan is available from the UK government for eligible students studying for a first master’s programme, to help with fees and living costs. Some other governments and organisations also offer tuition fee loan schemes.

Find out more about tuition fee loans

Further information

Fees and funding opportunities

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students. 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Curriculum Overview

This programme consists of courses worth 4.0 credit units. In the first term, you will take the core course in Psychology of Economic Life and an overview course in Psychological and Behavioural Science (1.0 credit). In the second term, you will take two electives of your choice (each worth 0.5 credits). In the last term, you will complete an empirical research dissertation (1.0 credit). Over all three terms, you will receive training in Methods for Social Psychological Research (1.0 credits).

In addition to these courses, all students are free to audit lectures at LSE upon the approval of the respective course conveyer.

All courses at LSE consist of lectures, which teach the theory, and seminars, which are conducted in smaller groups and are more applied.

Compulsory core courses (3.0 credits)

Psychology of Economic Life (PB403)
This course teaches key social science and social psychological theories; you will learn how to use them to address economic life in a novel and powerful manner.

Methods for Social Psychological Research (PB411)

A module of 3 courses, providing method training in quantitative research methods (MY465), qualitative research methods (MY421M), and research design. More advanced courses can be selected or audited if relevant to dissertation.

Dissertation (PB410)

An independent research project of up to 10,000 words on a topic of your choice, involving empirical research and supervised by a member of faculty.

Examples of previous PBS dissertations can be found on our Postgraduate Prizes page. 

Elective courses (two at 0.5 credits each)

The following electives are aligned towards the core themes of this Master. For other possible electives, please refer to the Programme Regulations below.

Social Psychology of Economic Life: Advanced Topics (PB431)

PB431 presents how social psychology (broadly interpreted to include micro-sociology, cultural anthropology and social neuroscience) is the key to understanding real-world economic life by taking into account cognitive, affective and social processes, and also to contributing to better solutions to societal problems.

Consumer Psychology (PB417)

The course will address the psychology of consumption at different levels of analysis: individual, group and societal.  It will try to ground this psychology in fundamental theories that will allow students to develop a mental model of human behaviour as it relates to consumption.

Courses to the value of one unit from a range of options

For the most up-to-date list of optional courses please visit the relevant School Calendar page.

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated graduate course and programme information page.

Psychology of Economic Life Teaching Excellence

Faculty involved in this programme have received awards for excellent teaching for the last three consecutive years.

Contact hours and independent study

Within your programme you will take a number of courses, often including half unit courses and full unit courses. In half unit courses, on average, you can expect 20-30 contact hours in total and for full unit courses, on average, you can expect 40-60 contact hours in total. This includes lectures, classes, seminars and workshops. Hours vary according to courses and you can view indicative details in the Calendar within the Teaching section of each course guide. 

You are also expected to complete independent study outside of class time. This varies depending on the programme, but requires you to manage the majority of your study time yourself, by engaging in activities such as reading, note-taking, thinking and research.

Teaching methods

LSE is internationally recognised for its teaching and research and therefore employs a rich variety of teaching staff with a range of experience and status. Courses may be taught by individual members of faculty, such as lecturers, senior lecturers, readers, associate professors and professors. Many departments now also employ guest teachers and visiting members of staff, LSE teaching fellows and graduate teaching assistants who are usually doctoral research students and in the majority of cases, teach on undergraduate courses only. You can view indicative details for the teacher responsible for each course in the relevant course guide.

Assessment

All taught courses are required to include formative coursework which is unassessed. It is designed to help prepare you for summative assessment which counts towards the course mark and to the degree award. LSE uses a range of formative assessment, such as essays, problem sets, case studies, reports, quizzes and mock exams.

You will be summatively assessed according to various elements of teaching including a required dissertation. An indication of the formative coursework and summative assessment for each course can be found in the relevant course guide.

Academic support

You will be allocated a dissertation supervisor who will provide formative feedback on the following coursework:

-  a Dissertation Plan

-  a Dissertation Progress Report.

You will also be assigned an academic mentor who will be available for guidance and advice on academic or personal concerns.

There are many opportunities to extend your learning outside the classroom and complement your academic studies at LSE. LSE LIFE is the School’s centre for academic, personal and professional development. Some of the services on offer include: guidance and hands-on practice of the key skills you will need to do well at LSE: effective reading, academic writing and critical thinking; workshops related to how to adapt to new or difficult situations, including development of skills for leadership, study/work/life balance and preparing for the world of work; and advice and practice on working in study groups and on cross-cultural communication and teamwork.

LSE is committed to enabling all students to achieve their full potential and the School’s Disability and Wellbeing Service provides a free, confidential service to all LSE students and is a first point of contact for all disabled students.

Programme directors

Professor Saadi Lahlou 

Dr Fred Basso 

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as student counselling, a peer support scheme and arranging exam adjustments. They run groups and workshops. 

IT help – support is available 24 hours a day to assist with all your technology queries.  

LSE Faith Centre – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.  

Language Centre – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers ­– with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library – founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU) – they offer academic, personal and financial advice and funding. 

PhD Academy – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice – this offers discounted private dental services to LSE students. 

St Philips Medical Centre – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers – we have a Deputy Head of Student Services (Advice and Policy) and an Adviser to Women Students who can help with academic and pastoral matters.

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

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Your time at LSE is not just about studying, there are plenty of ways to get involved in extracurricular activities. From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one campus in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think London is a fantastic student city, find out about key sights, places and experiences for new Londoners. Don't fear, London doesn't have to be super expensive: hear about London on a budget. 

Maitrayee Das-Mazumdar

Why did you choose the course/LSE?

Psychology and Economics had always been my favourite subjects and the course Psychology of Economic life just spoke to me. It felt like an adventure that I needed to embark on. And LSE had always been my bravest of dreams and coming to LSE was like living my oldest dream.

What has been the highlight of your LSE experience?

The highlight would be the lectures that transcended us from reality and the conversations that followed in the legendary post lecture socials. LSE is an experience. I have met some of the most interesting and important people in my life here and that sums up LSE, it is a home away from home. Also, the societies and cultural nights at LSE were the most beautiful amalgamation of cultures. In all honesty, LSE will give you so many beautiful experiences that words will never be enough to note them down.

How are you planning to use your degree for your future career?

I am interested in user research and behavioural marketing and I plan to work as a user experience researcher, market researcher or in the field of behavioural or sensory marketing. The long-term goal is to be an entrepreneur and create the change in the world that I have been studying about.

Sum up your experience in 3 words: Life-changing, Memorable, Inspirational.

Barkow, J., Cosmides, L., & Tooby, J. (1992). The adapted mind: Evolutionary psychology and the generation of culture. Oxford University Press

Boltanski, L., & Thévenot, L. (2006). On justification : Economies of Worth. Princeton University Press

Diamond, J. (2005). Collapse. How Societies Choose To Fail or Succeed. New York: Penguin Books

Goffman, E. (1959). The presentation of self in everyday life. New-York: Doubleday Anchor Books

Himmelweit, H. T., & Gaskell, G. D. (1990). Societal psychology: Implications and scope. London: Sage

Hutchins, E. L. (1995). Cognition in the Wild. Cambridge, MA: MIT Press

Kahneman, D. A. (2011). Thinking, Fast and Slow. New York: Farrar, Straus and Giroux

Lahlou, S. (2017). Installation Theory. The societal construction and regulation of behaviour. Cambridge University Press

Lewis, A. (2008). The Cambridge Handbook of Psychology and Economic Behaviour. Cambridge University Press

Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving Decisions About Health, Wealth, and Happiness (Vol. New intern). Yale University Press

Uexküll, J. von. (2010). A Foray Into the Worlds of Animals and Humans. With a Theory of Meaning  University of Minnesota Press.

Career development - MSc Psychology of Economic Life

The content of the Master's programme is broadly relevant to all situations in which an understanding of economic phenomena can be of advantage.

Roles for which the contents are of particular interests include (but are not limited to): consultancy roles (eg management consultant), market interface roles (e.g., product manager, project manager, marketing manager), behavioural insights roles (eg market researcher, policy analyst), and business psychology roles (eg organisational designer).

The contents are applicable in both the private sector (e.g. consultancy, big corporations, social businesses, start-ups) and public sector (e.g., governments, NGOs, charities). This programme provides skills to the fast-growing demand for innovative and more sustainable ways of doing business. You may also choose to continue to obtain a PhD and pursue an academic career.

Support for your career

Many leading organisations give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the support available to students through LSE Careers.

Please contact Will Stubbs via email pbs.msc@lse.ac.uk

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