Economics, Institutions, and Behaviour (MSc)

Program overview

This MSc provides rigorous training in economics with a particular emphasis on how institutions and human behaviour shape economic outcomes. Taught entirely in English, the curriculum sets itself apart from conventional MSc Economics programmes by combining standard economic methods with a sustained focus on institutional analysis and behavioural insights. The programme treats institutions broadly — from formal rules such as laws, regulations, social security systems, and central bank design to informal norms and conventions — and examines how these structures influence economic performance.

Structure and specialisations

After a set of foundational courses, students customize their studies by choosing one of three specialisation tracks: Political Economy; Sustainability; and Money, Accounting, and Finance. This flexible design lets you build depth in an area that fits your interests while retaining strong core economics training. Small class sizes encourage close contact with lecturers, and the international composition of the student body promotes diverse perspectives in classroom discussion and group work.

Why this programme might suit you

If you want an English-language master’s that integrates behavioural and institutional approaches into mainstream economic analysis, this programme offers a focused pathway. Its long-standing delivery and international cohort provide a supportive environment for students seeking intensive academic interaction and exposure to a variety of institutional viewpoints.

Key facts / requirements

• Language of instruction: English (programme taught entirely in English)
• Core approach: Combines standard economics with institutional and behavioural analysis
• Institutional scope: Includes formal institutions (laws, regulations, social security, central bank design) and informal institutions (social norms)
• Study sequence: Foundational courses followed by specialisation choices
• Specialisation options: Political Economy; Sustainability; Money, Accounting, and Finance
• Cohort and teaching format: International student body, small class sizes, close lecturer interaction
• Programme history: Established with many years of successful delivery

Curriculum overview The programme is organised according to the Bologna framework so that students earn 30 ECTS each semester, adding up to 120 ECTS in total. Its design combines foundational training in institutional and behavioural economics with advanced theoretical and empirical courses, and gives students room to specialise and gain practical experience. The final phase is a supervised Master’s thesis in which students carry out an independent research project that integrates the quantitative, theoretical and institutional tools learned during the programme.

What you will learn Across the curriculum you will build a solid grounding in institutional and behavioural economics, strengthen your theoretical microeconomics knowledge, and develop applied empirical skills for analysing institutions and human behaviour. Advanced theory modules deepen your ability to construct and critique formal models of institutions and behaviour, while the empirical strand trains you to design and execute data-driven analyses. Specialisation options let you focus on areas such as political economy, sustainability, or finance and accounting, and elective choices (including an internship for credit) allow either broader interdisciplinary learning or practical, career-oriented experience.

Credit and module breakdown (requirements)

• Total: 120 ECTS (30 ECTS per semester, per Bologna guidelines)
• Foundations — 24 ECTS
  • Introductory courses in Institutional Economics and Behavioural Economics
  • Core theoretical microeconomics and empirical analysis to prepare for advanced study
  • Learning outcomes: basic mastery of institutional and behavioural concepts, and foundational quantitative and theoretical tools
• Institutions and Behaviour: Theory — 18 ECTS
  • Advanced, theory-focused courses in institutional economics
  • Learning outcomes: ability to develop and evaluate theoretical models of institutions and behaviour
• Institutions and Behaviour: Empirics — 18 ECTS
  • Advanced, empirically-focused courses in institutional economics
  • Learning outcomes: competence in applied empirical methods for studying institutions and behavioural phenomena
• Specialisation Areas — up to 30 ECTS (choose from one or more)
  • Political Economy: study interactions between political processes and economic outcomes; topics include political competition and politicians as self-interested agents
  • Sustainability: interdisciplinary approaches to societal and organisational sustainability challenges and solution strategies
  • Money, Accounting, and Finance: economic and business-administration perspectives on financial markets, preparing students for careers in financial sectors
  • Learning outcomes: domain-specific expertise and applied analytical skills relevant to chosen career paths
• Electives — up to 18 ECTS
  • Options to broaden academic perspectives or obtain practical experience
  • Internship option available for academic credit to gain workplace experience
• Master’s Thesis — 30 ECTS
  • Independent research project supervised by a faculty member
  • Learning outcomes: ability to design and carry out an original research study, integrate methods, and communicate results clearly and rigorously

Graduates are prepared for roles that require strong analytical and empirical skills applied to institutional and behavioural questions—such as policy analysis in government or international organisations, research positions in academia or think tanks, and analytical roles in finance or consulting where institutional design and behavioural insights matter. The programme’s emphasis on empirical methods and a supervised master’s thesis also provides a solid foundation for students who wish to pursue doctoral studies in economics or related fields.