Psychoeconomics

Area of specialisation E

Psychology and economics are the two components of this area of specialisation. As it is us humans who are responsible for economic action, economics count as one of the social sciences. That is why it is important to analyse economic interaction not only from the standpoint of model theory where social action and interaction are often neglected. Psychoeconomics therefore devotes itself rather to exploring our economic activities under explicit consideration of psychological and social aspects. Which decisions should we make in order to arrive at the best results? Does a person behave differently depending on whether he or she is alone or in a group? Is our perception susceptible to social influence (other people’s influence)? What are the arguments for or against using experiments in economics research?

Conditions: Apart from the courses in the foundation programme, no particular skills are expected in terms of content. In the first instance you should be interested in microeconomics and psychology. You should also be capable of seeing things from a different perspective and open to new research methods, whereby mathematics play an important part here too.

Modules

  • Microeconomics II (9 ECTS credits)
  • Introduction to Decision Theory (5 ECTS credits)
  • Experimental Methods (5 ECTS credits)
  • Econometrics I (8 ECTS credits)
  • International Investment and Finance or Introduction to Personnel Management (5 ECTS credits)
  • Social Psychology I and II (8 ECTS credits)

Various courses from amongst the required electives on the scale of 14 ECTS credits:

  • International Investment and Finance* (5 ECTS credits)
  • Marketing - Management, 5 ECTS credits)
  • Introduction to Personnel Management* (5 ECTS credits)
  • Macroeconomics II (6 ECTS credits)
  • Learning and Memory, Motivation and Emotion (8 ECTS credits)
  • Developmental Psychology I and II (8 ECTS credits)
  • Diagnostics and Personality (8 ECTS credits)
  • Biological Psychology (8 ECTS credits)

*If the course on ‘General Business Administration I’ was replaced by ‘Introduction to Personnel Management’, you may attend ‘General Business Administration I’ in the required elective module and vice versa.

You must attain at least 7 ECTS credits in psychology.

You must also attend a seminar which guides you towards your final paper (bachelor’s thesis) and forms a thematic unit with it. This can be an economics or business administration seminar.

Admission to the bachelor's thesis is conditional on evidence of a total of 90 ECTS credits from exams and coursework in the foundation programme and the area of specialisation as well as attending the bachelor seminar. The seminar and the bachelor’s thesis form a thematic unit.

The time period allowed for writing the bachelor’s thesis is four weeks.

The bachelor’s thesis should not exceed 20 pages. 8 ECTS credits are awarded.