MA Behavioral Economics

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Program Overview

The MA Behavioral Economics program is designed for working adults interested in psychological perspectives of human decision making, risk assessment, and consumer behavior. This program provides students an alternative to the traditional MBA by offering a curriculum with a foundation in advanced psychology that addresses broader business applications to decision making, negotiation, marketing, and consumer behavior. The program is a unique program that utilizes a competency-based model grounded in: consumer, social, cognitive, and consulting psychology and political science and infuses multicultural perspectives from a diversity of market audiences. The curriculum integrates elements of economics and financial literacy including: consumer psychology, public policy, and theories of decision-making to generate a richer understanding of human behavior. Graduates are prepared to deliver professional services, perform research, excel as leaders and policy advisors, and to sensitively and inclusively serve diverse populations in business, marketing, and politics.

The program is 40 credit hours and includes classwork in: consulting, social, cognitive, and consumer psychology, statistics, public policy, economics and finance, and game theory. Faculty will lead students in online discussions, group activities, quizzes, and reflective writing assignments.

Program Philosophy

Students will use scientific research and theory to inform their practices and contribute to the body of work extending the reach of their specialties in professional psychology. Students will apply theoretical and practical knowledge about ethnic, racial, gender, sexual, cultural and religious differences (among other individual and group demographic factors) into their professional work. Students will be able to conduct assessments, develop appropriate interventions, and implement interventions in their specialty areas of professional psychology and function in a professional and ethical manner in classroom, off-site training, and work-settings.

Program Learning Outcomes

Upon successful completion of this program students will be able to:

Professional Practice

• Generate solutions through the application of theory to the individual, group and organization including: the ability to interpret and synthesize research and theory using process consultation, assessment, and interventions.
• Relate information in Oral and Written communication that is grammatically correct, logical, succinct and of publishable quality.
• Manage relationships with others to enhance quality of work products rather than diminish work products including: managing conflict.

Diversity

• Assess differences in judgment and choice with regard to diverse populations and work cooperatively with members of different identity groups including individuals from different ethnicities, religion, sexual orientation, ability level, age, and different educational backgrounds in multidisciplinary teams.

Professional Behavior

• Develop self-awareness, self-management, and professional and psychological maturity as exhibited by the ability to accept feedback and the willingness to change behavior as needed.

Scholarship

• Construct and interpret research studies including: hypothetical choices, experiments with actual observations, and field research.
• Evaluate information using techniques such as: identifying, observing through inductive or deductive reasoning, and inferring.
• Compare and contrast elements of Behavioral Economics including: market fluctuations, public policy, and economic/hedonic decision-making. Interpret research/theories of judgment and choice including: rationality, uncertainty/risk, social trends and Neuro-economics. Explain and summarize the foundations of Behavioral Economics including: social and cognitive psychology, sociology and political science.

Admission Requirements

For information on where The Chicago School is currently authorized, licensed, registered, exempt or not subject to approval, please visit https://www.thechicagoschool.edu/why-us/state-authorization/

Application to The Chicago School’s MA Behavioral Economics program is open to any person who has earned a bachelor’s degree from a regionally accredited institution and who meets other entrance requirements. Applicants will be judged on their overall ability to do graduate work. 

Factors and materials to be considered for admission will include: 

• Completed application and $50 application fee   
• Generally, an undergraduate GPA 3.0 or higher on a 4.0 scale. 
• Official Transcripts  

• Students must submit official transcripts from all schools where a degree was earned.  
• It is recommended that transcripts are submitted from all schools where credit was received to enhance their applications. 

 Applicants with a cumulative GPA below 3.0 are required to submit additional documentation.  

• Resume/CV or Work History (e.g. employer letter, LinkedIn profile, or other document that reflects your work history)  
• Personal Statement (between 250 and 500 words for each question)  

• Please describe a challenge that you navigated successfully and how you will use what you have learned from that experience to be successful in your program. 
• How will the successful completion of this program support your professional career goals? 

Applicant Notification

The Chicago School reviews applications on a rolling basis. Once review begins, complete applications will be considered by the Admission Committee and applicants will be notified regarding the admission decision. The Chicago School does not share information or provide any feedback regarding admission decisions.

If a student is offered admission, in order to secure a place in the incoming class, a non-refundable tuition deposit of $250 will be required by the deposit deadline indicated in the offer of admission. The non-refundable deposit will be applied in full toward the student’s tuition upon enrollment.

Articulation Agreements

The Chicago School has established an agreement between the MA Behavioral Economics and the B.A. Psychology programs to allow qualified students to enroll in master’s level courses while completing their bachelors degree that will then count toward the master’s degree.

Degree Completion Requirements

• Successful completion of 40 credit hours of coursework
• Successful completion of the Applied Research Project

Policies

The following policies are located under Academic Policies and Procedures : Academic Calendar, Admissions Requirements, Attendance, Satisfactory Academic Progress, Service Learning, and Transfer Credit/Course Waiver. Click the link above for detailed information.

Ethical Guidelines

Students are expected to engage in all graduate work, including but not limited to course work, research, and scholarship, with a high degree of integrity and professionalism. It is essential that students approach professional working relationships, collegial relationships, and client/partner-contact with respect. Further, students are expected to adhere to the American Psychological Association’s (APA) Ethical Principles of Psychologists and Code of Conduct as well as the “evolving universal code of ethics” (Gauthier, 2005).  Students who choose to seek employment in the field of psychology shall not work beyond their level of competence and shall not use titles governed by credentialing statutes and/or regulations unless authorized by the relevant jurisdictional authority. Students who fail to comply with ethical and professional behavior guidelines are subject to department remediation and/or referral to Student Community Standards for disciplinary action and possible dismissal.

Residencies

There are no residency requirements for this program.

Applied Research Project 

Students in the Applied Research Project complete classwork over the course of their studies that guide them through the process of writing the Applied Research Project. A faculty member will approve and supervise the project through these courses.