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What career opportunities do I have if I specialize in behavioural economics?

I love both economics and psychology and hence I've come to the conclusion that I should specialize in behavioural economics. I've heard that it can be used in policy making but I'm not sure. I also wanted to know how useful it would be to learn this subject. #economics #psychology

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Gene’s Answer

Hi Jessica,

I think this is a very smart educational path to take. More and more attention and data analytics is being applied to human behavior, and naturally that will inform and influence how people make, spend, save and invest money. Further, understanding behavioral motivators across multiple facets (cultural, age, gender, education, income, race, religion, etc.) can help companies (and governments) determine what products to make, where to invest, how to better help communities, etc.

I'm sure you'll find a multitude of career paths with that educational background, because the evolving world of customer experience and technology is rooted in human behavior, and essentially every successful business will leverage this type of insight.

Best of Luck!

Gene
Thank you comment icon Thank you so much for the information you gave. Your point about understanding the behaviour of different sections of society really makes me curious to learn more about it. Thank you for taking the time to write this answer. Jessica
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Harsh’s Answer

Hi Jessica,

For someone who has done post graduation or P. hd. , following career options are available:
* Market Research Analysts
* Policy Advisers
* Behavioral Finance Specialist
* Advertisers
* Behavior Architect (corporate)
* Professors / Academics

this is new and upcoming field. I believe number of Job opportunities are moderate today but those are increasing. here is example job posting: https://www.linkedin.com/jobs/view/2846994267

also have a look at this post: https://www.quora.com/What-careers-are-good-for-someone-interested-in-behavioral-economics

Regards,
Harsh,
I answer India related career question at
https://forum.enkindle.guide/
Thank you comment icon Thank you so much for all the information. I never thought while posting this that I will get such good answers. It's really hard to get answers on behavioural econ since it is such a new field and it means a lot that you took your time to answer this question in such a detailed way .Also thanks for editing my tags. Jessica
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Marini’s Answer

Work in behavioral economics as a Policy Adviser is useful in local and national government to help predict human behavior. This will help identify risks, provide information about taxing gas, alcohol and tobacco, and providing subsidies for healthcare.

COVID-19 vaccination is an example. Behavioral economics was used to determine how much the government would have to provide in subsidies to ensure everyone could be vaccinated to minimize/stop the spread of COVID.

In conclusion, this is a very useful subject to learn to assist with these various types of economic decisions for the government.
Thank you comment icon Thanks a lot for the information and also the example you gave. Gives me confidence that I will be able to use the subject for important things. Thank you for taking the time to write the answer. Jessica
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Aaron’s Answer

This can definitely be useful in business especially if you favor the economics a little more than the behavioral. For advising businesses on how to take the next step to become bigger or better, etc, they often look to someone who can give an expert voice on how clients will respond to company branding, rebranding, where to develop the companies next technology, etc.
Thank you comment icon Thank you so much for the information. I think I'm leaning more towards the government policy aspect of it now, but advising businesses is defenitely something I will take into consideration. Thanks a lot for the time you put into this answer. Jessica
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Kathy’s Answer

You can do marketing, since marketing involves thinking about consumer psychology and business economics.
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