The Economics and Econometrics MSc programme offers a thorough training in advanced economic and econometric theory and quantitative methods, while allowing students to specialise or take options in a range of subjects reflecting the School’s main areas of research expertise.
Building on a sound general training in econometric methods, the project-oriented compulsory modules in time series econometrics and applied microeconometrics introduce you to the theory and practice of econometric modelling. The programme is one of the few courses in the UK to offer specialist training in advanced econometric methods and their application. Economists with quantitative skills and experience in empirical research are in high demand in both the private and public sector.
All of our MSc degrees equip you with a range of quantitative and analytical skills, and the ability to communicate complex economic concepts in a clear and concise style. Our programmes not only offer a stimulating education in economic theory, but also develop your ability to apply economic knowledge, analytical tools and skills to a range of national and international problems in the areas of finance, development, agriculture and the environment.
About the School of Economics
The School of Economics is dedicated to excellence in both teaching and research, as demonstrated by our results in the Research Excellence Framework (REF) 2014 and recent national student surveys. Our academic staff are active in research, and teaching and learning are informed by the School’s thriving research culture and strong cosmopolitan academic community.
We currently have 35 academic staff, with about 35-40 MSc and PhD students, which has the benefit of a good community for interaction between students but also means that each student receives a good deal of individual attention in classes and workshops. It also means that we are able to offer excellent facilities for research.
Our postgraduate student community is global with many of the students originating from outside the UK and Europe. There are also a number of different nationalities represented within the academic staff. You will be able to integrate into this multicultural environment and build yourself an international professional network for the future.
In the Research Excellence Framework (REF) 2014, research by the School of Economics was ranked 21st in the UK for research intensity and 84% of our research was judged to be of international quality. The School’s environment was judged to be conducive to supporting the development of research of international excellence.
In the Postgraduate Taught Experience Survey (PTES) in 2018, our overall performance placed us in the top quarter in the UK with an 88% student satisfaction rate.
The Economics and Econometrics MSc is studied over one year full-time or two years part-time and is divided into two stages: eight taught modules (six of which are compulsory) and a dissertation.
There are compulsory modules in Advanced Macroeconomics, Advanced Microeconomics of Consumers, Markets and Welfare, Econometric Methods and Research Skills. There are a further three core econometrics modules: Financial Econometrics, Microeconomics, and Time-Series Econometrics. The core modules build upon students’ existing knowledge, understanding and skills. Students develop a deeper understanding of economic and econometric theory, quantitative and research methods, and policy applications. The teaching and learning of skills are carefully integrated into the structure of the modules and degree programme. The final two modules are chosen from a range of options based upon the research interests of members of staff.
All of our MSc programmes require some mathematical analysis, and we recognise that students have widely differing backgrounds in mathematics. The first week of all our MSc programmes includes compulsory intensive teaching in mathematics, refreshing and improving your skills in order to equip you with the techniques you will need for the rest of the programme.
Students who successfully pass the taught element of the programme, proceed to the dissertation stage, where you undertake a supervised project of your choice on an Economics/Economics topic. Advice on choice of dissertation topic and management is given during the taught stage of the programme. The dissertation stage develops students’ research skills and follows on from the Research Skills module. Student dissertations are supervised by academic staff.
The following modules are indicative of those offered on this programme. This list is based on the current curriculum and may change year to year in response to new curriculum developments and innovation. Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take modules from other programmes so that you may customise your programme and explore other subject areas that interest you.
As well as the compulsory modules and the dissertation, you choose 30 credits from a list of optional modules.
|Compulsory modules currently include||Credits|
EC805 - Advanced Macroeconomics
The main aim of this module is to provide students with knowledge of core macroeconomic theory at the graduate level. The focus is on learning theoretical concepts and analytical techniques as an aid to understanding complex contemporary macroeconomic problems. In addition, the module will develop the toolbox essential for understanding all other macro-related modules in the programmes of students' further choice. The module is organized in three key parts. The first part deals with microeconomic foundations of macroeconomics and introduces rational expectations. The second part analyses short-term fluctuations in macroeconomic performance and how macroeconomic policy may be used to address these. Specifically, it provides rigorous treatment of the Real Business Cycle theory and monetary/fiscal policy as regulatory instruments. The third part deals with economic growth as a fundamental determinant of long-term macroeconomic performance.View full module details
EC820 - Time Series Econometrics
The module offers a research-oriented introduction to contemporary time series econometrics by linking econometric theory to empirical studies of the macro-economy and financial markets. It introduces models and methods used in central banks and research institutions for policy analysis and forecasting. It integrates empirical illustrations through the use of computer-based exercises with macroeconomic and financial data using appropriate software. We start with providing comprehensive treatment of univariate time series analysis and deal in details with the modelling and forecasting of stationary and non-stationary stochastic processes. We then look into models of time-varying volatility. Finally, we generalise the learned techniques to multiple time series and study co-integration.View full module details
EC821 - Econometric Methods
This module studies basic econometric techniques. An intuitive and practical learning style will be used in order to develop participants understanding and ability to apply these econometric methods. Participants will develop an understanding of the conventional linear regression model in cross section, time series and panel data. The module focuses on the application of econometric methods, with little emphasis on the mathematical aspects of the subject. A computer software package will be used for practical work throughout this module, both as a means to provide applications of the theory developed in lectures as well as to give experience in the use of such software for participants own empirical research. No previous knowledge of computing or econometrics is required.View full module details
EC825 - Microeconometrics
Empirical evaluation of microeconomic models is crucial to the study and application of economics. The empirical evaluation of economic models based on the analysis of individual behaviour at the micro level often requires special econometric techniques either due to the nature of the explanatory variables or the non-randomness of the sample design. The module introduces students to the main empirical strategies for causal inference. The module will cover identification based on observables, randomized control trials, difference-in-differences, instrumental variables and regression discontinuity design. The students will use an econometric software in the analysis of data and estimations.View full module details
EC802 - Advanced Microeconomics of Consumers, Markets and Welfare
Developing economies are confronted with severe environmental problems. This module starts with presenting economic growth models with environmental elements and discusses their properties and implications for long-run sustainable development. It then proceeds by illustrating environmental valuation techniques and showing how these can be incorporated into economic decision-making processes in order to contribute to sustainable economic growth and development. The main emphasis in the module is on the application of environmental economics to help design, implement and evaluate environmental policies in developed and developing economies.View full module details
EC843 - Financial Econometrics
The module offers rigorous treatment of advanced methods in modern financial econometrics. Giving equal attention to theory and empirical practice it provides students with essential knowledge indispensable for financial market professionals working in analytics departments. The module starts with the overview of core concepts of time series analysis. It proceeds with specifying, estimating and testing a range of asset pricing models including Stochastic Discount Factor Based Asset Pricing, The Capital Asset Pricing Model, and Factor Pricing Regressions. Next, the module addresses the analysis of returns predictability, both in the single regression framework and in the multivariate setting. Here we also provide careful modelling of volatility effects of the market data (e.g. by using asymmetric GARCH), and market interdependence. Special attention is paid to small sample biases and identification issues.View full module details
EC847 - Research Skills for Economics Dissertation
The module consists of preparation of the one-page dissertation proposal to be submitted by the end of Week 13. Upon review of the proposal by the Director of Graduate Studies (Taught) the student is allocated to a supervisor. For the rest of the term the student and the supervisor meet and discuss in detail the proposal to identify the relevant literature research methods and actions. By the end of Week 24 the student submits an additional one-page outline of the dissertation with the exact research question, relevant methodological toolbox to address the question and reference to the relevant data (if applicable). The outline is further supported by the condensed list of the core literature.View full module details
|Optional modules may include||Credits|
EC844 - Development Economics
As a field of study, Development Economics has both a long history and a rapidly expanding set of issues that is considered to be within its domain today. The Foundation of Development Economics will provide a long-term perspective to the field, covering topics such as the meaning of development, the measurement of poverty and inequality, economic growth, structural transformation, industrialisation, institutions and trade. Students will be exposed to classical texts to gain an understanding of how the economic approach to these topics have evolved over time; as well as rigorous mathematical models and modern economic approaches to empirical analysis for an introduction to current methods and practices in the study of Development Economics.View full module details
EC803 - International Economics
This module is designed for students with interests in both international economics and development economics. It aims to discuss some of the fundamental models (and their extensions) in international economics and link them to the growth and development process of regions and countries. Throughout this module we provide you with the analytical tools and theoretical knowledge necessary to understand these links. We also focus on both the theoretical foundations and extensions of trade theory and the empirical evidence available to the current theoretical debates. The first part of the module is devoted to the foundations of trade theory and it is the basic building block of the module. The rest of the module deals with trade policy, trade liberalisation and long run growth, factor movements as well as economic geography and regional trade agreements and their implication for global free trade.View full module details
EC841 - Money and Credit
Money and credit perform a range of crucial functions in market economies. This module studies the microeconomic foundations of money and credit, and the roles played by money and credit markets in contributing to macroeconomic growth, fluctuations and crises. Throughout the module, we also consider the roles of government institutions including central banks and financial regulators within modern markets for money and credit. The module makes use of theoretical models to aide understanding and analyse policy. These models are motivated by and tested against historical and contemporary evidence, with students performing a selection of these tests using modern financial programming tools. While the core features of money and credit have remained stable for centuries, innovation in these markets does play important roles for economic growth and business cycles. At the end of the course, we study some of the more important developments in modern money and credit markets, including securitisation as well as the range of innovations collectively referred to as digital money.View full module details
EC842 - Labour Economics
The module summarizes key advances in contemporary labour economics and provides deep understanding of how present-days labour markets function. It starts with considering strategic interactions between supply and demand sides of the labour market and acknowledging importance of incomplete information in these interactions. Then it looks into origins of unemployment and analyses the role of government in reducing unemployment and increasing participation. It addresses the process of wage determination and explains why similar workers are paid differently and have different career progression paths. It also analyses the related problem of investment in education in view of uncertain career prospects. Ultimately, module scrutinizes the origins of inequality and outlines the scope of public policies in maintaining efficient labour market in an equitable society. It concludes with studying international aspects of labour movements.
The module is essential for those who see their career in national and supra-national institutions that design, regulate and evaluate public policies at the labour market and beyond.View full module details
EC9981 - Dissertation:Economics
The dissertation work is carefully structured across the whole academic year. On entry to the MSc programmes, students are made aware of the need to consider their dissertation during the taught part of the programme and to do some preparatory work in terms of selection of research topic and investigation of the availability of data before the beginning of the dissertation working period. They receive guidelines on the writing of economics dissertations and they receive various talks and advice above the researching and writing of their dissertation. Students are allocated an appropriate member of staff as dissertation supervisor.View full module details
Teaching and Assessment
Assessment is through a wide variety of methods including seminar presentations, extended essays, short projects, in-class tests, examinations, and the dissertation.
The programme aims to:
- To provide a stimulating education in the principles of Economics and Econometrics and their application, in which high quality teaching motivates students to achieve their full potential. The teaching is informed by the research and scholarship of teaching staff.
- To build on the existing knowledge, abilities and skills of all students, and to develop a deeper understanding of economic theory, econometric and quantitative techniques and policy applications to specific areas.
- To provide options to enable students to study selected areas of Economics and Econometrics in depth.
- To develop in students the ability to apply economic knowledge, analytical tools and skills in a range of theoretical, applied and policy problems.
- To develop the skills necessary for independent research and to prepare students for work as professional economists in the area related to Economics and/or Econometrics.
- To provide information and advice on future employment and further postgraduate study.
Knowledge and understanding
You gain a knowledge and understanding of the following:
- The concepts, principles, theories, models and methods of modern advanced microeconomics, macroeconomics, econometrics and quantitative methods.
- The econometric, mathematical, statistical and computing methods used in Economics and Econometrics.
- Sources of economic data and methods used to analyse such data, and ability to make use of sources and methods.
- Model building in econometrics, microeconomics and macroeconomics and critical analysis of such models.
- Application of core economic and econometric theory and reasoning to applied topics.
- Research methods and management.
- Specialist supervised dissertation topic and quantitative methods project.
- Economic analysis of policy.
- Chosen specialist areas in Economics and Econometrics selected from a range of options.
- Critical evaluation of major debates and articles in advanced economic and econometrics literature.
You gain the following intellectual skills:
- Ability to abstract the essential features of a complex system.
- Ability to think about what are the important variables and fixed parameters in analysing a problem.
- Ability to analyse complex issues using deductive and inductive reasoning.
- Ability to organise and use information to analyse complex issues and construct and test different hypotheses.
- Ability to review literature critically and appreciate alternative explanations and analyses of a problem.
- Ability to effectively work under supervision for the dissertation and manage supervised dissertation and quantitative projects.
You gain the following subject-specific skills:
- Analytical skills in Economics and Econometrics.
- Ability to develop and understand models of economic behaviour.
- Ability to apply economic and econometric principles and analysis to a range of issues, problems and policies.
- Ability to abstract the essential features of economic and econometric topics, problems or systems.
- Knowledge of the principal sources of economic data and information and ability to use and present this information.
- Be able to carry out economic/econometric analysis of economic data.
- Ability to synthesize and compare critically different analyses of economic and econometric topics.
- Ability to research the literature on economic and econometric topics.
- Research management skills.
- Ability to apply economic and econometric skills to investigate supervised dissertation and quantitative methods projects.
You gain the following transferable skills:
- Effective communication of analysis and ideas both orally and in written form.
- Ability to assemble, analyze, use and present data.
- Understanding and ability to use economic, mathematical and quantitative methods to analyze issues and problems.
- Development of Information Technology skills through using statistical and econometric packages, bibliographic searches and word processing coursework.
- Independence in initiating and executing work.
- Ability to analyze and solve problems.
- Ability to think critically about proposed analyses and solutions to a problem or issue.
- Ability to define and test hypotheses.
- Become responsible for managing own learning and academic performance.
- Research management skills acquired through managing supervised dissertation and quantitative methods projects.
Kent has an excellent record for postgraduate employment: over 92% of our postgraduate students who graduated in 2017 and responded to a national survey, were in work or further study within six months (DLHE).
A postgraduate degree in the area of economics is a particularly valuable and flexible qualification that can open the door to exciting careers in many professions. Our graduates have gone on to work as economists in international organisations, the financial sector, business, UK and overseas governments, and to further postgraduate training and academic careers at Kent, UK and overseas universities. Recent MSc graduates have gone on to work for companies in the UK such as BNP Paribas, AXA, FactSet and PwC.
The School's employability officers and the University's Careers and Employability Service are available throughout the year to offer one-to-one advice and help on all aspects of employability at any stage in your postgraduate studies. We also offer online advice on employability skills, career choices, applications and interview skills.
The School provides rooms specifically for use by MSc students, with computer facilities and open space for discussion and group work.
All MSc students are assigned an academic adviser to be their point of reference for advice, support and guidance during their studies. They are also allocated a supervisor for the MSc dissertation, who can advise on data and provide comments on methodologies and the written material.
The School has an active and inclusive research culture involving all postgraduate students, with a regular seminar programme during the year mixing internal workshops with events to which we invite outside speakers. There is also a student Economics Society, which invites its own speakers for discussion of economics topics, and Kent Invest Society which manages a virtual portfolio.
An international school
Our postgraduate student community is global with about half the students originating from outside the UK and Europe, including Africa, China, India, the Middle East, Pakistan, Russia and the USA. We have strong links with universities in Australia, Bulgaria, China, Germany, Japan and the USA, among others. Economics staff teach on the postgraduate courses provided by the University of Kent at Brussels. You will be able to integrate into this multicultural environment and build the foundations for an international professional network.
Global Skills Award
All students registered for a taught Master's programme are eligible to apply for a place on our Global Skills Award Programme. The programme is designed to broaden your understanding of global issues and current affairs as well as to develop personal skills which will enhance your employability.
A good first degree (good second class honours or equivalent) in economics or a combined degree in economics and another subject.
All applicants are considered on an individual basis and additional qualifications, professional qualifications and experience will also be taken into account when considering applications.
Please see our International Student website for entry requirements by country and other relevant information for your country. Please note that international fee-paying students cannot undertake a part-time programme due to visa restrictions.
English language entry requirements
The University requires all non-native speakers of English to reach a minimum standard of proficiency in written and spoken English before beginning a postgraduate degree. Certain subjects require a higher level.
For detailed information see our English language requirements web pages.
Need help with English?
Please note that if you are required to meet an English language condition, we offer a number of pre-sessional courses in English for Academic Purposes through Kent International Pathways.
The School of Economics has a strong research culture and an international reputation in several fields, particularly applied microeconomics (labour and agri-environmental), quantitative macroeconomic theory, macro and microeconometrics and economic development.
The School is home to two research centres and one research group:
Centre for Agri-Environmental Studies (CEAS)
CEAS has a long history of participating in agri-environmental research and policy debate. Founded in 1974 to conduct research into the implications of the UK's entry to the European Economic Community, CEAS has developed into a centre of research excellence, focusing on food and agri-environmental policy in the UK and Europe.
Macroeconomics, Growth and History Centre (MaGHiC)
MaGHiC brings together a large number of researchers at the School whose main interests lie in the wide area of macroeconomics. MaGHiC is the focal point for macroeconomic research, impact and training at the University of Kent. The centre's main focus is on the analysis of macroeconomic issues, including productivity and growth, labour markets, income distribution, business cycles and macroeconomic phenomena from a historical perspective. The group also has technical strength in computational economics, macroeconometric modelling and forecasting, and expertise in building long-run macroeconomic time series and reconstructing historical national accounts.
Microeconomics Research Group
In addition to the two research centres, the School has an active microeconomics research group, whose members’ research spans applied and theoretical microeconomics, and microeconometrics. The group’s research covers a wide range of areas with the main focus being on development economics, labour and education economics, microeconometrics, games and behavioural economics, the economics of food, economic geography, industrial organisation, political economy, networks and the economics of taxation.
Staff research interests
Full details of staff research interests can be found on the School's website.
The 2019/20 annual tuition fees for this programme are:
|Economics and Econometrics - MSc at Canterbury:|
For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact firstname.lastname@example.org
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