The M.A. 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 M.B.A 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 Chicago School of Professional Psychology’s M.A. Behavioral Economics 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. Classes will be held online in 7 week terms.
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 complete of this program students will be able to:
- Construct and interpret research studies including: hypothetical choices, experiments with actual outcomes, 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.
- 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 multi-disciplinary teams.
- 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.
- 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.
Application to The Chicago School of Professional Psychology’s M.A. 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 successfully complete graduate work. Factors and materials to be considered for admission will include:
- Application Fee: $50
- Resume or Curriculum Vitae
- Official College/University Transcripts
- Personal Statement/Essay answering the following two questions:
1. How will your personal and professional accomplishments, academic background, and experience contribute to your success in this program?
2. How will the successful completion of this program support your professional career goals?
TOEFL or IELTS, International Credentials, and International Students
TOEFL or IELTS: If English is not your primary language, you must submit official TOEFL or IELTS scores with your application (TOEFL School Code: 7161). International students who received a bachelor’s degree from an accredited United States institution are exempt from this requirement. The minimum scores are: TOEFL - 550 paper based, 79 internet based; IELTS - 6.5.
ELS Educational Services, Inc.: The Chicago School of Professional Psychology is a cooperative member of ELS Educational Services, Inc. which provides intensive English language programs. Students who have successfully completed ELS course 112 may be considered for admission in lieu of the TOEFL or IELTS.
International credentials: Applicants with international credentials must obtain and submit an official “course-by-course” evaluation through an evaluation agency such as World Education Services (www.wes.org) or Educational Credential Evaluators Inc. (www.ece.org). In addition to the agency evaluation, all official graduate and undergraduate transcripts must be submitted.
International students: International students must submit a completed application by the general consideration deadline. In addition, once accepted, international students must submit the International Student Information form, a copy of their passport, and financial documentation showing sufficient funding for at least one year of study and all living expenses. This documentation must be submitted at least two months prior to the start of the semester in order to allow sufficient time for the school to issue an I-20 for the student to obtain an F-1 visa, if needed. An I-20 visa will not be issued without this documentation.
The Chicago School of Professional Psychology 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 of Professional Psychology 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.
The Chicago School of Professional Psychology has established agreements between The M.A. Behavioral Economics and the B.A. Psychology program to allow qualified students to enter early into the master’s program. This agreement allows qualified students to begin their master’s study while completing their bachelor’s degree. Click on this link for details.
The following policies are located under Academic Policies and Procedures : Transfer of Credit, Waiver of Courses, Satisfactory Academic Progress, Grading Scale, Grade Change Requests, Degree Completion, Degree Conferral, Minimum and Maximum Timeframe requirements, and Credit Hours per semester for Financial Aid. Information on the Academic Success Program is located under Student Life .
Academic Development Plans
An Academic Development Plan (ADP) is initiated and created by the program in which the student is enrolled. When a student demonstrates deficiencies in competencies that interfere with academic performance, training competence, and/or professional behavior, the ADP is initiated. The completion of an ADP does not constitute disciplinary action, but failure to complete the plan may lead to disciplinary action.
Student Learning Assessment
The Chicago School of Professional Psychology (TCSPP) is committed to offering the highest quality undergraduate completion program and graduate programs in applied professional disciplines. To meet TCSPP’s standard for academic quality, program learning outcomes are aligned with course learning outcomes and guide assessment. Data collected from the results of student assessment and the aggregation of these data will inform how students are progressing towards achieving program outcomes.
All academic programs report annual assessments of student learning and other indicators of program effectiveness as part of the Academic Program Review process.
Ethics and Professional Behavior 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 the Student Affairs Committee for disciplinary action and possible dismissal.
There are no residency requirements for this program.
This program culminates in a capstone project that is a journal article submission based on data obtained during relevant field work. This capstone project forms the summative assessment of the program as well, and is designed to satisfy the requirement of the competencies of the master’s in Behavioral Economics program for a culminating experience.
The student will apply the principles of Behavioral Economics to propose a psychologically based solution to a socioeconomic problem, taking the form of journal article submission based on data obtained during field work done during enrollment in this seminar. In the first of two Capstone Project Seminars, the student will outline a research proposal and write the literature review and methodology sections of the proposal. In the second of the Capstone Project Seminars, the student will complete fieldwork hours and write the results section of the capstone project.