International Business and Economic Psychology (MSc)

Master of Science in International Business and Economic Psychology

In Economic Psychology, we try to understand and support the human dimension of economic activities and institutions. Businesses and economic relations are dominated by a peculiar form of social interaction: commercial transactions, that is, the giving and taking of needed resources according to some specified norms and rules.

Professional scope of an economic psychologist
The 21st century has brought about fundamental changes in the way we collaborate and exchange our services and goods. The digitalization of our economy poses opportunities and risks which need to be well understood to make well-informed decisions about how to collaborate best in our economy. It is in this perspective of rapid changes that we have adopted a curriculum in which students are considered partners which actively participate and decide in the development of their curriculum. This way, we hope to contribute to a new generation of academics and practitioners prone to take responsibilities and initiatives in an ethical economy of goods and services. Our team of researchers and professionals from the field is fully dedicated to sustaining and partner with our students in the development of their purposeful aspirations.

Widen your perspective by studying at two different locations: Get to know the international environment first hand!

First stop Vienna (Oct 2019/Feb 2020)
The Austrian capital generates an annual gross regional product of 92 billion euros. A new economic and innovation strategy, „Vienna 2030“, is intended to further strengthen the city as a business location and create high-quality jobs – creative minds are called for here.

Second stop Berlin (Jun/Jul 2020)
For years, Berlin has ranked among the top 10 most important startup hubs in the world. In Artificial Intelligence and Fintech, the German capital is considered to be an “Ecosystem to Watch“ in terms of key figures such as the availability of talent or previous performance. We invite you to immerse yourself in the city of ideas and get into the groove of making things work.

Continuing to travel
By completing the mandatory internship abroad, the list of countries can be expanded even further. We are happy to support you with the necessary applications.

Our mission

Our mission is to instill and foster purpose in psychologists‘ vocation to sustain businesses and economic affairs according to the highest ethical standards and social responsibilities.

Research

The research at our department is dedicated to a better understanding of the psychological dimension in economic activities – with the explicit aim to empower the voices of all the stakeholders involved. Psychological research gives voice to people who would otherwise not be heard nor understood. Theory development plays a crucial role for this purpose and is an integral part of our approach. Empirically, we prefer a methodological mix in our research whenever possible as compared to singular methods.

The students at our department are encouraged to develop their research questions for their master thesis from the early start. We do not delegate readymade research packages to our students because we believe the research mastery must be motivated from within: the questions which are most dear to students and their mission.

Research Projects (Excerpt)

    • Family purpose in the 21st century
      Understanding and fostering family purpose for families with extraordinary responsibilities

      • Financial Support: Sir John Templeton Foundation 
      • Approach: Qualitative In-depth Interviews with 2-3 family members of business families
      • Research Team: Kendall Cotton Bronk (P.I., Claremont Graduate College), Tarek el Sehity (Co-P.I., SFU), Anne Colby (Advisor, Stanford University), Bill Damon (Scientific Advisor, Stanford University), Heinrich Liechtenstein (General Advisor, IESE Business School, Barcelona)
      • Extended Research Team
    • UHNWI-Mobility in the 21st century: A psychological investigation
      • Approach: Qualitative In-depth Interviews with UHNWIs
      • Research Team: Tarek el Sehity (P.I., SFU), Felicitas Auersperg (SFU), Martin Einhorn (Porsche, A.G.)
    • Co-Production of mental health services
      • Approach: Mixed Methods
      • Research Team: Raffaella Pocobello (P.I.), Tarek el Sehity (SFU)

Teaching and Training

With this newly established International Master program, we respond to the challenge of preparing the coming generation of economic- and business psychologists for the ongoing internationalization of affairs of almost any kinds, be it in the private- or public sector. Digitalization is at the heart of most of the business innovations, and we may expect even more dramatic developments soon. In this master, we offer an international campus for our students, providing firsthand access to a broad range of academic capacities and resources.

At the Department of Business- and Economic Psychology, we are strongly committed to the training and development of academic skills coupled with the continuous transformation process in businesses and the economic system. During their first academic master-year, students are coached to manage and organize their studies together with their peers. After two highly intense input weeks with lecturers and professionals, students take over the responsibility to self-organize classes and teachings according to their needs. The use of online meetings, the psychology of digital communication, the organization of telework groups, the challenge of intercultural communications become this way are an integral part of the actual academic process. After their first year of studies, we encourage students to academic collaborations at our partner-sites, be it for their internship and/or research and writing their master thesis.

Master Curriculum of the specialization modules

1st Term (October-February: 23 ECTS)

1. Paradigms in Economic Psychology (VO: 3 ECTS; Tarek el Sehity)
2. Work Psychology (VO: 3 ECTS; Herbert Kastner)
3. Organizational Psychology (VO: 3 ECTS; Clara Kulich)
4. Consumer and Market Psychology (VO: 3 ECTS; Jennifer Stark)
5. Behavioral Economics (ILV: 3ECTS; Francesca Marzo)
6. Personnel Psychology (ILV: 4ECTS; Oliver Wegenberger)
7. Wahlfach (in students national language at home site): Einführung in die Betriebswirtschaft (ILV: 4 ECTS; Alex Binder)

2nd Term (February-July: 23 ECTS)
1. Personnel Selection (UE: 3 ECTS; Meike Watzlawik)
2. Market Research (UE: 3ECTS; Martin Einhorn)
3. Mediation, Supervision and Coaching (UE: 3 ECTS; Thomas Zobl)
4. Work Psychology (UE: 3ECTS; Cornelia Kastner)
5. Conflict resolution in organizations (SE: 3 ECTS; David Becker)
6. Service Psychology (ILV: 4ECTS; Ralf Sichler)
7. Elective course (in students national language at home site): Psychologische Organisationsberatung (ILV: 4 ECTS: Sebastian Schuh)

3rd Term (October-February)
Preparing the Master thesis (SE: 5 ECTS)
Internship Supervision (UE: 5 ECTS)
Internship (20 ECTS)

4th Term (February-July)
Research Workshop (SE: 5 ECTS)
Masterthesis (25 ECTS)

Costs

You may choose between two payment modalities:

a) € 6,830 per semester or
b) € 1,161 per month (24x installments incl. 2% charges)
+ unique commission fee: € 480