Specialization in Business and Economic Psychology

In Business and Economic Psychology, we analyze and support the human dimension of economic activities and institutions. Businesses and economic relations are dominated by commercial interests and transactions, that is, the giving and taking of resources according to some specified regulations, norms, and agreements.

Our master-program is designed to respond to the challenge of preparing the coming generation of economic- and business psychologists for the ongoing internationalization of affairs of almost any kind, be it in the private or public sector.

Digitalization is at the heart of most of the business innovations in the 21st century, and we may expect even more dramatic developments soon. In this master programme, we offer an international campus for our students, providing firsthand access to a broad range of academic capacities and resources.

Our Division of Business and Economic Psychology is strongly committed to the training and development of academic skills coupled with continuous transformations in the business environment. During their first academic master-year, students are coached to manage and organize their studies together with their peers. After three 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 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 of their master thesis.

Professional scope of a business and economic psychologist

Careers in Business- and Economic Psychology include positions such as Human Resource Executive, Market Research Analyst, Marketing Executive, Industrial and Organizational Psychologist, Corporate Consultant, Family Business Advisor, Human Factor Specialist, Customer Relationship Specialist, Recruitment or Training Specialist, Professional Developmental Coach, Change Management Specialist, Sales Representative… to name a few.

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. We, therefore, have adopted a curriculum in which our students are active partners who participate and decide on the development of their curriculum. This way, we hope to contribute to the formation of a new generation of academics and practitioners prone to take ethically sound responsibilities.

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. Our team of academic researchers and experienced professionals is fully dedicated to partner with our students in the development of their purposeful aspirations.

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.

Master Curriculum of the specialization modules

1st Term (September-February: 23 ECTS + 7 ECTS)

1. Research Paradigms in Business & Economic Psychology (ILV: 3 ECTS)

2. Work Psychology (ILV: 3 ECTS)

3. Organizational Psychology (ILV: 3 ECTS)

4. Consumer and Market Psychology (ILV: 3 ECTS)

5. Behavioral Economics (ILV: 3ECTS)

6. Personnel Psychology (ILV: 4ECTS)

7. Electives (optional courses offered in German and English):
SFU Vienna: Principals of Business Administration (ILV: 4 ECTS)

7 ECTS Core Modules on research methods are offered in German and English

2nd Term (February-July: 23 ECTS + 7 ECTS)

1. Personnel Selection (UE: 3 ECTS)

2. Market Research (UE: 3ECTS)

3. Competences in Organizational Psychology (UE: 3 ECTS)

4. Competences in Work Psychology (UE: 3ECTS)

5. Conflict resolution in organizations (SE: 3 ECTS)

6. Service Psychology (ILV: 4ECTS)

7. Electives (optional courses offered in German and English):
SFU Vienna: Organisational-Psychological Consulting (ILV: 4 ECTS: Sebastian Schuh)

7 ECTS Core Modules on research methods are offered in German and English

3rd Term (October-February: 30 ECTS)

Preparing the Master thesis (SE: 5 ECTS)

Internship Supervision (UE: 3 ECTS)

Internship (22 ECTS)

4th Term (February-July: 30 ECTS)

Research Workshop (SE: 5 ECTS)

Master thesis (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