Behavioral economics is a field that analyzes economic decision-making from a social perspective and combines the areas of psychology with economics.
To receive a Ph.D. in behavioral economics, you must first earn an undergraduate and graduate degree before being accepted into a Ph.D. program. Behavioral economics is a subcategory of economics, and many universities do not offer a degree specifically in this area. There are, however, other programs directly related to this profession that can be considered as undergraduate career options. Regardless of your major, your undergraduate degree should be based heavily on the principles of economics if you plan to pursue a Ph.D. in behavioral economics.
During your undergraduate years, it may be helpful to work with a department chair or consultant to ensure you take the necessary courses to advance to a master’s program in an economics field. Degree courses may include principles of economics, microeconomics, experimental economics, and behavioral economics if they are offered at your university. These programs typically take at least four years to complete, and during that time you should start researching your graduate program options.
Completion of a master’s degree in economics will help you gain admission to a Ph.D. program and ultimately receive a Ph.D. in behavioral economics. Behavioral economics is a relatively rare undergraduate subject, so you may want to consider a general economics degree with a strong foundation of behavioral-based coursework to prepare you. Some classes you may want to consider include growth and development, economic forecasting, managerial economics, and collective decision making. Courses may vary by university, but you should look for those that relate to your intended PhD focus. A master’s program typically takes two years, and you’ll typically need to excel in your coursework to be accepted into a doctoral program.
You will need to successfully complete several Ph.D.-level courses in economics to earn a Ph.D. in behavioral economics. While not all of your coursework is based on the behavioral aspects of economics, you may want to supplement your program with courses that give you a solid foundation in this subfield. Some courses that will help you receive a Ph.D. in behavioral economics, including behavioral decision making, behavioral finance, and fundamentals of behavioral economics.