Low molecular weight specifically labeled block copolymer poly(beta-deuteriostyrene-b-2-vinylpyridine) (beta-DSVP) and poly(alpha-deuteriostyrene) (alpha-DS) (7600 and 10000 g/mol with polydispersities of 1.15 and 1.7, respectively) have been prepared by anionic polymerization. Deuterium NMR relaxation times and self-diffusion coefficients of DSVP and DS were measured for the polymers in solution as a function of concentration. The relaxation times were interpreted through the use of the Hall-Helfand model for chain dynamics. In toluene, the dynamics of the styrene segments in block copolymers were different-than in homopolystyrene. The effect of concentration on segmental motions was more pronounced for the low molecular weight block copolymers than it was for the homopolymer above 15 wt %. The results indicated that the short-range motions were similar for the homo- and copolymer while the long-range motions were different. Self-diffusion coefficients for the block copolymer also showed a sharp decrease at concentrations greater than 15 wt %. The changes in the relaxation behavior and self-diffusion coefficients were attributed to micellization of the block copolymer in toluene. The cmc value was estimated to be 11 wt % based on a pseudophase model.