Economics examines some of the profound issues in our times: economic growth and sustainable development, unemployment, poverty, financial and monetary crises, trade and aid. As a Kent Economics student, you analyse and discuss these crucial areas and are challenged to contribute to possible solutions. On this programme you also have the opportunity to spend a year studying in Germany.
Economics at Kent is ranked in the top ten in the UK. Our economists are internationally recognised for their research and are also exciting and innovative teachers who place a particular emphasis on making economics relevant to the real world.
The School of Economics provides outstanding academic support. Each student has a dedicated academic adviser and we also run a peer mentoring scheme where experienced final-year students offer advice and support to new students.
We are an international community with academic staff and students from many countries so you develop a global perspective on your subject.
Our degree programme
In your first year, you learn how economists think and become familiar with the tools they use for analysing real economic problems. You can also study modules on the European economy in the 20th century, as well as strategy and games.
In your second and final years, you study macroeconomics, microeconomics and quantitative economics. Optional modules cover areas such as international finance, industrial and monetary economics, and the economics of money and banking. Our wide range of modules means you can tailor your degree to support your particular career ambitions; for example, you can choose modules that prepare you for life as a professional economist.
On this European Economics (German) programme you spend a year between your second and final year studying at a partner university in Germany. Teaching is in German, and you take some language-based modules in your first and second year at Kent to develop your skills.
You may wish to join the following student-run societies:
- the Economics Society, which organises lecturers and conferences, as well as social events
- Kent Investment Society, which focuses on the financial markets. It is made up of analysts, head analysts and committee members, who each cover a particular financial market. In previous years, the Society has organised an annual virtual trading competition.
The School of Economics also hosts events that you are welcome to attend. These include:
- public lectures and seminars
- employability workshops
- networking events.
Many of our staff advise UK, European and international organisations. These include:
- the Treasury (UK)
- Department for Environment, Food and Rural Affairs (Defra) (UK)
- Department for International Development (DFID)
- Bank of England
- European Commission
- European Central Bank
- Organisation for Economic Co-operation and Development (OECD)
- European Central Bank (ECB)
- United Nations Conference on Trade and Development (UNCTAD).
These links mean we can bring real-life examples and scenarios into our teaching, ensuring it is up to date and relevant.
Economics at Kent was ranked 8th in The Guardian University Guide 2017. In the National Student Survey 2016, 92% of Economics students were satisfied with the overall quality of their course.
For graduate prospects, Economics at Kent was ranked 2nd in The Guardian University Guide. Of Economics students who graduated from Kent in 2015, 92% were in work or further study within six months (DLHE).
The course structure below gives a flavour of the modules that will be available to you and provides details of the content of this programme. This listing is based on the current curriculum and may change year to year in response to new curriculum developments and innovation.
|Modules may include||Credits|
EC304 - Principles of Economics
Economics is about how people make choices about what and how to produce and consume. It looks at the differences in economic outcomes between firms, people and countries and how they can be related to the effects of choices they and others have made. It builds on the very simple and plausible assumption that people make decisions in their own interests and subject to constraints. Studying economics entails both gaining an understanding of the economies in which we all live, and developing skills to think logically about economic situations. The emphasis in this module is on how economics can help us to understand the society we live in.
The module aims to provide a thorough understanding of economics at an introductory level and provides the basis for all subsequent study you may undertake in economics. It is designed to teach you how to think as an economist and how to construct and use economic models. It also shows you how be critical of economic models and how empirical evidence can be used in economic analysis.
The first term covers the principles of microeconomics and shows how they can be applied to real-life situations and economic policy. The second term develops a framework for understanding macroeconomic events and macroeconomic policy. Throughout the module and in the seminars in particular, we demonstrate the usefulness of economics as an analytical tool for thinking about real world problems.Read more
EC309 - Statistics for Economics
The main aim of this module is to provide you with a basic understanding of statistics suitable for the Stages 2 and 3 degree programmes in Economics, although it is also suitable for students taking other Social Science degrees. This module is a prerequisite for Stages 2 and 3 Economics modules and is a core input to the second year quantitative modules, EC580 and EC581. So as well as learning basic statistics, the module provides you with the opportunity to apply statistical concepts to economic and business data using calculators and computer software. Work with Excel is an independent study element of the module, and using calculators to undertake basic descriptive statistics is an important focus of the practical problem solving.Read more
EC314 - Data Analysis for Economists
The aim of the module is to introduce you to fundamental key skills used by economists in applying economics to real world issues. The module develops your use of information technology and your ability to access electronic and other secondary sources of data, particularly the range of skills necessary for evaluating and analysing economic data. Finally, the module will improve your computing and quantitative skills within a structured environment.Read more
EC305 - Mathematics for Economics Mode A
This Stage 1 module is designed for students who have an A -Level in mathematics, AS mathematics or equivalent qualification. A first-year mathematics module (either Mode A or B) is a compulsory part of all economics degree programmes and these modules take place in the Autumn term with a statistics module following on in the Spring term. If you are unsure whether your mathematical background is equivalent to an A level pass, please consult the module convenors.
The aim of the module is to provide you with a good understanding of the mathematics necessary for your Stages 1, 2 and 3 Economics modules.The teaching of each topic starts from first principles, but the speed of the module assumes that you have studied mathematics before (but not economics). By the end of the module, you will have covered the important uses of mathematics in economics (and business) and be able to use many mathematical techniques commonly used to analyse economic problems. In the long term, the analytical and quantitative skills you acquire from this module are relevant to many different occupations.Read more
EC306 - Mathematics for Economics Mode B
The main aim of this module is to provide you with a basic understanding of mathematics suitable for the Stages 2 and 3 degree programmes in Economics, Business, and Accounting. The mathematics material is developed in a clear, contextual framework, and is linked to a Stage 1 module in Economics. You develop your understanding with suitable problem sets combining mathematical concepts and economic methods.Read more
GE301 - German Language Level B1
This module is for Post-A-level students and students who have mastered level A2 but not yet B1 of the Common European Framework of Reference for Languages (CEFR). On successfully completing the module students will have mastered level B1. The emphasis in this course is on furthering knowledge of the structure of the language as well as vocabulary and cultural insights while further developing the speaking, listening, reading and writing skills.Read more
GE329 - German Language A1-A2 Intensive
This is an intensive module for absolute beginners, Post-GCSE students and students who have not yet mastered level A2 of the Common European Framework of Reference for Languages (CEFR). On successfully completing the module students will have mastered level A2. The emphasis in this course is on acquiring a sound knowledge of the structure of the language as well as basic vocabulary and cultural insights while developing the speaking, listening, reading and writing skills.Read more
|Modules may include||Credits|
EC500 - Microeconomics
This is the core microeconomics module taken by all students following Economics degrees. It builds on the material covered in the Stage 1 Economics modules. The titles of many of the topics covered will be familiar, but the topics are dealt with in greater depth and with more theoretical rigour than in first year.
Microeconomics is concerned with the behaviour of individual economic agents such as consumers, firms and governments. As such, it provides the foundations for understanding all types of economics, including macroeconomics. An understanding of microeconomics ranges from essential to helpful for all other Economics modules you take.
The module is carefully designed to tell you what topics will be covered in lectures, give (alternative and/or complementary) readings, and provide a set of different types of questions and problems for seminars to test and extend your understanding of the material as well as to improve your key skills such as communication, problem solving, team work, and learning how to study efficiently.Read more
EC502 - Macroeconomics
Macroeconomics today is a different subject than it was just a few decades ago. Old controversies have been resolved and new ones have arisen. This module builds on the first year teaching of macroeconomics to provide an intermediate course, which takes full account of the policy issues and controversies in the world macroeconomy.
Autumn Term begins by looking at the basic methodology of macroeconomic models. We then examine, in greater detail than at Stage 1, how the macroeconomic theories of aggregate demand and aggregate supply are derived. This involves studying the markets on which these theories are based. It is important to be aware that there are many theories of aggregate demand and supply. In the autumn term we use the IS-LM model, with which you should be familiar from Stage 1, to derive a theory of aggregate demand in both open and closed economies. We also examine the labour market to derive a theory of aggregate supply and study the relationship between inflation and unemployment.
Spring term starts with studying the long-run, that is, what determines the standard of living of countries in the long term, as opposed to short-run economic fluctuations. We then study microeconomic fundamentals of macroeconomics to understand in-depth the determinants of consumption, investment, and labour supply decisions. We then use these and the ideas developed in the autumn term to extensively examine macroeconomic demand management policies (fiscal and monetary) and their shortcomings. We finally study the role of the financial system in the macroeconomy and the causes behind some financial crises with special focus on the 2008/09 global financial crisis.Read more
EC580 - Introduction to Econometrics
The quantitative estimation and evaluation of economic models is an essential feature of the study and application of economics. This module provides an introduction to econometric theory and the application of econometric techniques to economic models and data. This is achieved by explaining key economic and econometric issues using applications of econometrics that quantify and evaluate economic theory and which provide an empirical evaluation of economic behaviour and the assessment of economic policy.
The module provides both an analytical and practical introduction to econometric theory, equipping students with the analytical tools to carry out applied econometric work and to explore more advanced areas of econometric theory at later stages of their chosen degree programme. The practice and application of econometrics is achieved using both Microsoft Excel and specialist econometric software (eg Eviews &/or Stata).Read more
EC581 - Introduction to Time-Series Econometrics
This module provides an analytical introduction to time-series econometrics and the challenges that present themselves with the analysis of time-series economic data. A key issue in this regard involves consideration of whether or not a time-series process is stationary. Traditional econometric techniques such as Ordinary Least Squares (OLS) are poorly suited to the estimation of economic models or data which exhibit non-stationary processes. This module provides an introduction to econometric methods that are suitable for stationary and non-stationary time series analyses.
The focus of the module is predominantly analytical providing students with the knowledge and understanding of time-series techniques commonly used to analyse economic data. The application of these techniques is also considered using specialist econometric software (eg Eviews). The module equips students with the analytical tools to carry out advanced time-series econometrics work at a later stage of their degree programme.Read more
GE507 - Learning German 4
The module develops proficiency in writing, speaking and comprehending German. It concentrates on translation into German and English and the development of analytical skills in the production of written and spoken German. Translation exercises confront students with a variety of texts in different styles and registers, and encourage accuracy and critical reflection as well as acquisition and consolidation of grammatical structures. The language skills component combines vocabulary development with discursive writing on topics of relevance to the contemporary German-speaking world. Oral classes with a native speaker develop oral competence through discussion, enabling students to speak confidently and effectively at the intermediate level.Read more
GE516 - Advanced Intermediate German
This module comprises: translation from German to English, grammar exercises, conversation classes, and the culture and politics of the German-speaking countries ('Landeskunde').Read more
Going abroad as part of your degree is an amazing experience and a chance to develop personally, academically and professionally. You experience a different culture, gain a new academic perspective, establish international contacts and enhance your employability.
On this programme you spend a year between Stages 2 and 3 at our partner university in Germany. For further information, please see Go Abroad. Places are subject to availability, language and degree programme.
You are expected to adhere to any academic progression requirements in Stages 1 and 2 to proceed to the Year Abroad. If the requirement is not met, you will be transferred to the equivalent three-year programme. The Year Abroad is assessed on a pass/fail basis and will not count towards your final degree classification.
|Modules may include||Credits|
EC537 - Economics Year Abroad
Students take modules equivalent to 120 Kent Credits from across a range of economics, mathematics, and social science subject areas. The curriculum will vary depending on the partner institution and the modules chosen.Read more
|Modules may include||Credits|
EC603 - Financial Crises
The aim of the module is to introduce the students to the evolution of the financial crises. Since financial crises are infrequent (though often occurring) events, a long-run perspective is necessary. This module will look at financial crises from the Tulip mania in 1636 through 1997 Asian financial crisis to the financial crisis of 2008. It will combine theoretical approaches, empirical facts, and case studies to fully understand their causes and consequences.Read more
EC569 - Economic Growth
This module covers a variety of growth issues from both empirical and theoretical views. The first part of the course deals with basic concepts of economic growth, including how to measure growth and the core theories of economic growth. The second part deals with productivity; how to measure productivity and analyse different sources of productivity growth. The third part deals with economic fundamentals, including the relationship between government policies, income inequality, and growth.
The aim of the module is to teach the basic principles of economic growth in order to answer such questions as:
- what are the determinants of growth?
- how can we improve productivity?
- what kind of role does the government play on growth?
- why are there differences in the level of income among countries?Read more
EC570 - Microeconomics of Development
In the last 30 to 35 years, the study of economic development has increasingly focused on the behaviour of individuals their opportunities, constraints, and choices to understand the causes and nature of poverty, and on formulating strategies for improving their economic well-being. This trend includes the increased application of microeconomic theories to understand phenomena related to underdevelopment, the collection and analysis of data at the individual level (as opposed to the regional or national level) and, most recently, the use of lab and field experiments to better understand individual behaviour.
The module introduces you to these trends, to show how the related microeconomic tools have contributed to a better understanding of the process of economic development. Some of these methods are now widely used by international development agencies such the World Bank and DfID as well as academic researchers to critically assess development strategies and evaluate programmes aimed at improving the economic well-being of the poor in developing countries.Read more
EC571 - Agricultural, Food and Natural Resource Economics
This module introduces you to agriculture, food and natural resource economics and economics generally. A key objective is to help you develop an ability to apply economic thinking to problems in this area. The module considers various aspects of agricultural, food and resource economics including food production, economic theory related to agricultural policy, food supply chains and food prices, food economics specifically food labels and various economic aspects of natural resource management such as forestry and fisheries.
The module is divided into three parts. In Part A we examine the relationship between the economy and the agriculture. In Part B we consider aspects of food economics. In Part C we examine various issues relating to natural resource. The emphasis in all parts of the module is to understand the links between theory and practice.Read more
EC538 - Economic Controversies
This module teaches you the skills of economic reasoning and argument by exposing you to critical debate within the discipline. It is designed for students who have completed Stage 1 Economics.
The module draws on current and past controversies to give you a critical insight into theoretical and empirical differences of opinion and approach to economics in the real world. The curriculum provides an insight into the academic and professional development of the discipline, and provides opportunities to develop a range of highly transferable skills and lay the foundations to many of the skills required for modules taught at Stage 3.Read more
EC540 - Development Economics
Average income in the richest country in the world is more than 100 times greater than average income in the poorest country. The existence of such stark differences in living standards is one of the most striking features of the world we live in.
How did this come to be?
What are the proximate and fundamental causes of such differences?
What, if anything, can be done about it?
These are some of the most important questions for human society, and they form the basis for the field of Development Economics. More specifically, Development Economics is a sub-field of economics that tries to understand the unique problems of poor countries in order to answer the questions posed above. This course will serve as an introduction to this fascinating and challenging subject. In the course we will use economic analysis to better understand the structure of poor economies and the difficulties faced by individuals and policy makers within them. The course will primarily focus on studying problems at a more aggregate level, so it integrates particularly well with EC 570 (Microeconomics of Development taught in the Spring term), which focuses on understanding the behaviour of individual agents in developing countries. The course assumes that students possess a strong background in basic macroeconomic and microeconomic theory as well as basic calculus and statistics.Read more
EC582 - The Economics of Human Capital
This course examines the economic relevance of human capital. We will begin by defining and categorizing different types of human capital, and then consider the economic importance of human capital both to individuals and to society. The course will explore the connections between human capital and the labour market, as well as social outcomes such as crime. We will discuss some of the challenges faced in identifying a causal effect of human capital on individual and social outcomes. Students will learn about how econometric techniques can be used to obtain causal effects.
The course will also study how human capital is formed and how it can be influenced by policy intervention. We will consider the effects of specific policy interventions on human capital development, drawing on examples from developing and developed countries.Read more
EC583 - Political Economy
The module will introduce students to the topic of political economy using microeconomic analytical tools. In particular, the module will provide students with an overview of microeconomic theories and empirical methods that have been used to bring new insights to issues related to political economy. The module will also explore how these issues relate to themes in development, public and environmental economics. The following topics will be covered in the module.
1. Electoral rules, voting and their economic implications:
2. Political Reforms and their Economic Impacts:
3. Institutions and Development:
4. Ethnic and Civil Conflict:
5. Climate Agreements:Read more
EC531 - Policy Analysis
This module applies economic theory and statistical methods to the understanding and critical assessment of economic policy. It is designed for students who have completed Stage 1 Economics. The module focuses on the policy application of economic concepts and provides an introduction to material that may be studied in greater depth at Stage 3. A key aspect of this module is the relationship to contemporary policy issues.
The module introduces you to a variety of microeconomic policy issues. Alongside formal lectures, it also consists of workshops and seminars that are designed to develop your academic research skills and the ability to communicate ideas verbally and in writing. This focus provides opportunities for you to develop a range of highly transferable skills and to develop as autonomous learners. These skills lay the foundations to the independent learning skills you require for modules taught at Stage 3.Read more
EC534 - The Economics of Money and Banking
The module asks what determines the set of equilibrium prices required to provide an appropriate level of savings in an economy to finance the expected level of expected activity. It tries to link models of money, banking and finance into one generic, or foundation, view. Specifically, we shall move towards an understanding of how financial and economic innovation have moved hand in glove over many centuries and how it seems to be that when finance fails, so does the modern market economy. Some of the questions we consider are:
How can we analyse the appearance of money in an economy?
What is the link between money and finance?
What explains bank runs?
Can we explain the occurrence of financial crises?
This second-year optional module emphasises both analytical techniques and historical experience. The economic analysis of money and banking is the starting point for understanding financial markets.Read more
EC542 - Econometrics I: An Introduction to Modern Econometrics using Stata
This is a 15-credit module in applied econometrics using Stata (the most popular general-purpose statistical software package used by empirical economists), for students who have followed Stage 1 modules in mathematics and statistics and who have taken the Stage 2 module in econometrics (EC580 and EC581) or equivalent. What distinguishes this module is the adoption of the modern learning-by-doing approach to teaching econometrics, which emphasises the application of econometrics to real world problems. The focus is on understanding the theoretical aspects that are critical in applied work and the ability to correctly interpret empirical results.Read more
EC543 - Econometrics 2: Topics in Time Series
Empirical research in macroeconomics as well as in financial economics is largely based on time series, ie chronological sequences of observations, showing the development of quantities, goods and asset prices, and interest rates. The module offers an introduction to contemporary time-series econometrics, linking the theory to empirical studies of the macroeconomy. Topics include: stationary and non-stationary stochastic processes; linear autoregressive and moving average models; linear difference equations; autoregressive distributed lag models; cointegration and equilibrium correction; vector autoregressive models. These topics are illustrated with a range of theoretical and applied exercises, which are discussed in seminars and computer classes.
The module introduces you to the research methods used by macroeconomists in academia, government departments, think tanks and financial institutions. It also helps you to prepare for the quantitative requirements of a masters programme in economics.Read more
EC544 - Economic Integration in the EU
The European Union features strongly in all discussions of economic policy and political decision making, in particular in view of Brexit. The UK referendum has exemplified the strongly polarised and politicised opinions on the EU, its policies and regulations. Frequently economists are unable to provide a consistent analytical framework for the analysis of the various issues posed, but at the same time the demand for economists trained on the issues related to the EU e.g. customs Union and Single Market - is growing. In this module we shall explore the meaning and analysis of regional economic integration in the context of the EU. This will provide a general introduction to the economic rationale for the existence of the EU, the working of some of its main policy areas, and a critique and assessment of the developments to date. Since this module involves issues of importance concerning the debate about Brexit and its consequences for the UK and the EU, we will cover studies about the potential consequences of various post-Brexit policies and will discuss options for post-Brexit trade and migration.
At the end of this module you will be expected to have knowledge of the basic theories underlying customs union and economic and monetary union, and of the rationale for, and strengths and weaknesses of, policy intervention at EU level.
This is a module in Applied Economics and the emphasis throughout is on the development of appropriate economic theories and their application in the specific context of the regional integration in Europe. It is not concerned with the detailed discussion of the Treaties or the implementation of policy measures. Decision-making in the EU is introduced in order to understand the question of the exercise of economic power and one of the main arguments used by the Leave campaign in the UK. The nature of the economic integration is such that this module involves a broad coverage of both microeconomics and macroeconomics, often involving applied issues and applied analysis going beyond that covered in the main theory courses.Read more
EC545 - Economics of the Labour Market
This is a one unit module offered by the School of Economics in the Autumn Term to final year students who have completed at least Stage II level or equivalent modules in macroeconomics and microeconomics.
The market for labour is the crucial mechanism that determines the distribution of income, work and opportunities. Macro factors such as globalisation, (im)migration, technological change and government policy will affect and be affected by the structure of labour markets. Rather than trying to cover the entirety of this very broad subject, the aim of this course is to focus on a few areas of topical interest and importance. We will examine the issues like the following:
1. The relationship between unemployment and wages
2. The impact of immigration on the resources of the lower skilled
3. The differences in pay and opportunities between men and women
4. Government policy towards skills and education
5. Executive pay
Throughout we attempt to integrate theoretical issues, empirical evidence and questions of policy, drawing on research covering a range of OECD countries.Read more
EC546 - Games for Economics and Business
The growing use of game theory by economists suggests that a professional economic education is incomplete without a firm understanding of this new tool. The module aims to introduce you to a topical and important research area of microeconomic analysis, to develop your skills in setting up and solving games that arise in business and economics, and to enable you to apply game theory to different areas of economics and business.Read more
EC547 - Industrial Economics
Industrial Economics studies why and how firms and industries behave and interact with each other. This is probably one of the most important and interesting areas in economics. Understanding firms' behaviour is relevant not only to the firms but also to the governments that design industrial policies in order to favour consumers without decreasing firms' efficiency.
During the module, we deal with issues that are present in everyday news: anti-competitive practices, the effect of market power on consumer welfare and the incentives for product innovation, and private and public effects of mergers. You have the opportunity to discuss and understand many of these topics in a deeper and more economically informed way.
This module has been designed for students who have already taken intermediate microeconomics. You are encouraged to apply economic analysis and techniques to understand the behaviour of firms and industries.Read more
EC548 - International Finance
When we open a newspaper or an economics and business magazine, we often read topics related to monetary and financial relations between countries. A good deal of political debate is also focused on the various aspects that constitute international finance. However, these debates do not allow us to understand their theoretical underpinnings. This is what we are going to study in this module from a rigorous perspective. The first part of the module deals with some basic concepts of international macro such as the balance of payments and exchange rates, and arbitrage conditions. We then go on to analyse the impact of opening up the economy on the alternative macroeconomic policies available. In that part we also analyse the main factors that determine the exchange rates between currencies, and the power of the different models proposed. The third part of the module deals with hot topics in international finance. We discuss the benefits and drawbacks of fixed and floating exchange rates, the concept of a speculative attack, how to understand current account imbalances from an inter-temporal perspective, and how world macroeconomic imbalances drove the 2008/09 international financial crisis and recent sovereign debt crisis in Europe.
The module has both a theoretical and an applied emphasis in order to insert the available theories into the real problems of the world economy. It does not analyse the detailed workings of international financial markets or questions related to firm financial management in international capital markets but students interested in these aspects can acquire basic foundations that are fundamental in understanding the context in which firms and governments work.Read more
EC549 - International Trade
The study of international trade has always been an especially lively and controversial area in economics. Yet there was never a time when the study of international trade was as important as today. The economies of different countries are more dependent on each other than they have ever been before, meaning that, among other things, regional crises can spread throughout the world. Keeping up to date with this changing international environment and being able to understand the dynamics behind it is of key importance to firms and governments.Read more
EC550 - Monetary Economics
This final year optional module covers a variety of monetary issues from both a theoretical and a policy perspective. The module starts with an introduction to the role of money in the economy, and theories of money supply and demand. A discussion of the Aggregate Supply and Demand model gives a basic foundation for analysing how monetary policy affects the economy, and a first theoretical perspective on the neutrality of money that is, whether monetary policy has real effects on the macroeconomy, in either the short or long run. The remainder of the module discusses current issues in monetary policy the goals of monetary policy and how these are expressed in modern simple models of monetary policy, central bank independence and inflation targeting.Read more
EC553 - Public Economics
To understand and be able to evaluate the role played by government in the economy it is important to understand key elements of microeconomic analysis and then be able to apply this understanding to the practical evaluation of policy issues. Economic theory is typically a positive science with right and wrong answers but evaluating policy issues is a much more normative science where there are often no correct answers (just opinions). The module reflects these two sides of studying public economics.Read more
EC562 - Economics of Finance 1
This module provides an overview of the main instruments in financial markets, the motivation for trade in these assets and the pricing of these assets. Specifically, we show how the economics of uncertainty motivates trade in a wide range of financial assets. This helps us determine how the risk and maturity of different assets affects the demand for those assets.
First, the module introduces the key principles of asset pricing: discounting, diversification, arbitrage and hedging. Second, the module introduces and motivates the use of debt, equity and derivative instruments in financial markets. Third, the module applies the key principles of asset pricing to help understand the behaviour of prices across these asset classes. While different classes of assets expose their holders to different types of risks, the key principles of asset pricing are common to all asset classes. This concept is formalised by the Fundamental Theorem of Asset Pricing.
While focusing on financial applications, the module does speak more widely to methodological challenges encountered when testing economic theories against data. These challenges are particularly relevant in financial economics. While the literature has developed a range of innovative techniques to more effectively test competing theories against the data, the answers to a number of key questions remain contested.Read more
EC563 - Economics of Finance 2
The module develops your skills in asset pricing and your understanding of the theoretical basis of the theory behind it. The module stresses practical training in asset pricing.
There are three key topics; (i) investors' optimisation, (ii) discrete time models and (iii) option Greeks and option strategies. For (i), the module first introduces the basic financial economics, and, based on it, we establish the basis of the risk-neutral probability. For (ii), the module discusses how to construct the tree model based on the historical price data, and shows that the model can be used to find the fair prices of a wide range of financial derivatives. For (iii), the module investigates the Black-Scholes-Merton (BSM) formula, and then how to use it to find the optimal hedge ratio for delta hedging. In this respect, the module also discusses how to use the return correlations to find the optimal hedge ratio.
Although the module requires some mathematical techniques, its main aim is to offer training to obtain some practical skills. Hence, the module puts stress on the intuitions and heuristics behind theorems and formulae, rather than their rigorous derivations and semantic definitions. In addition, you are expected not only to understand theories but are also to master how to use them. Indeed, you are expected make frequent use of a calculator in the final exam and the term-time assessment in order to obtain actual numbers from historical stock price data.
There are no pre-requisites for this module but the following modules are recommended: EC534(Money and Banking), EC550(Monetary), EC548(international Finance), EC562(Finance 2).Read more
EC565 - Extended Economics Essay
The module aims to provide an alternative to the EC541 dissertation option for students. In this module, rather than conducting an original piece of research, you are given a set of questions with readings. You can also construct your own question so long as it is approved. You choose a question and (with help from your supervisor) write a 5,000 word essay on this question. The material covered in these essays is typically broader than that explored in the dissertation option and there is no requirement to make any 'contribution to knowledge'. However, the essay still demand more independent work than required for coursework in other modules. You are expected to read round the question AND to assimilate concepts and ideas not covered in lectures.Read more
EC541 - Economics Dissertation
This dissertation is a 30-credit module based on self-directed study, which allows you to develop a complete piece of work within the general field of economics, from the initial idea through to a final written report. It is unique amongst the modules you are taking towards your degree in Economics, both in the ways that you learn and in the ways that you are assessed. Your learning will be largely independent, but is supported by structured supervision from your dissertations supervisor and weekly computing sessions to help in accessing, coding analysing and interpreting your data.Read more
Teaching and assessment
All of our modules are taught by a combination of lectures and small group sessions, which include seminars, computing practicals, problem sets, debates and role-play games. On average, you have a total of 12-14 hours of lecture, seminar and other formal contact time per week.
The School of Economics is committed to making sure that you leave Kent with much more than just a degree in Economics. We put great emphasis on the development of transferable skills, including numeracy, analytical problem solving, data analysis, and written and oral communication, as well as subject-specific skills for further study at postgraduate level.
The modules are assessed by continuous assessment of coursework throughout the year and an end-of-year exam in the final term. A number of modules at each stage are assessed solely through coursework.
The programme aims to:
- provide a stimulating education in the principles of economics and its application, in which students are motivated to achieve their full potential
- provide a flexible, progressive curriculum that is suitable both for students who have studied economics before and those who have not
- develop students' ability to apply economic knowledge, analytical tools and skills in a range of theoretical, applied and policy problems
- widen the learning experience by providing an opportunity for students to study economics at the University of Marburg and develop German language skills
- provide a range of options to enable students to study selected areas of economics in depth, informed by the research and scholarship of teaching staff
- provide students with the knowledge, analytical and other skills from which they can proceed to employment in a related area to economics or further study
- provide a range of skills that will be of value in future employment
- offer information and advice on future employment and higher education opportunities.
Knowledge and understanding
You gain knowledge and understanding of:
- the concepts, principles, theories, models and methods of modern economic analysis and their application in different areas of economics
- analytical skills to formulate and consider a range of economic issues
- mathematical, statistical and computing methods used in economics
- data and methods used to analyse economic data
- the economic analysis of policy
- specific problems, issues and policies in a range of areas in economics
- key concepts affecting decision making
- critical discussion of economic problems, issues and policies in politics and the media
- an economic topic of your choice, submitted as a supervised final-year project
- the study of other social science subjects in the first year
- oral, aural and written fluency in the German language.
You gain the intellectual abilities to:
- abstract the essential features of a complex system
- apply knowledge of the important variables and fixed parameters in solving a problem
- analyse complex issues using deductive and inductive reasoning
- organise and use information to analyse complex issues and test different hypotheses
- review critically alternative explanations and analyses of a problem
- manage a final-year supervised project on an economic topic of your choice.
You gain subject-specific skills in the following:
- analytical skills relevant to economics
- the ability to apply economic principles and analysis to a range of issues, problems and policies
- the ability to abstract the essential features of an economic issue, problem or system
- knowledge of the principal sources of economic data and information, and the ability to use and present this information
- economic/econometric analysis of data
- the ability to provide advice on how to make economic decisions
- synthesis and critical comparison of critically different economic analyses of an economic issue
- the ability to research the literature on an economic issue
- the ability to apply economic skills to investigate a supervised final-year project on an economic topic of your choice
- written, aural and oral fluency in the German language.
You gain transferable skills in the following:
- effective communication of analysis and ideas: orally, aurally and in writing in English and German
- the ability to assemble, analyse, use and present data
- the ability to use economic, mathematical and quantitative methods to analyse issues and problems
- the ability to analyse and make decisions using economic concepts, such as opportunity cost and strategic behaviour
- IT abilities using statistical and econometric packages
- independence in initiating and executing work
- the ability to think critically about proposed analyses and solutions to a problem
- the ability to manage your own learning and academic performance
- the ability to manage a supervised final-year project on an economic topic of your choice.
Our Economics graduates have developed careers in accountancy, banking and finance, journalism, management consultancy and business. Fluency in German and experience of living and studying in Germany opens up a broader range of job opportunities, too. Recent graduates have gone on to work for:
- the Government Economic Service
- Bank of America
- Goldman Sachs
Help finding a job
The School of Economics supports and advises you in deciding what to do after your Economics degree. We offer:
- one-to-one advice from a member of our employability team
- employability workshops
- talks from alumni and outside employers.
The University also has a friendly Careers and Employability Service which can give you advice on how to:
- apply for jobs
- write a good CV
- perform well in interviews.
Internships, either for a week or two or for the whole summer, can be a valuable addition to your studies. We provide guidance and assistance on where to look and how to apply.
Alongside a thorough understanding of economic issues, you develop key transferable skills that will appeal to employers. These include the ability to:
- think critically
- communicate your ideas and opinions succintly
- work independently
- use your initiative and be proactive
- work as part of a team and independently
- manage your time and plan effectively
- problem solve.
You can also gain extra skills by signing up for one of our Kent Extra activities, such as learning a language or volunteering.
For graduate prospects, Economics at Kent was ranked 2nd in The Guardian University Guide 2017. Of Economics students who graduated from Kent in 2015, 92% were in work or further study within six months (DLHE).
According to Which? University (2017), the average starting salary for graduates of this degree is £24,000.
The University will consider applications from students offering a wide range of qualifications. Typical requirements are listed below. Students offering alternative qualifications should contact us for further advice.
It is not possible to offer places to all students who meet this typical offer/minimum requirement.
New GCSE grades
If you’ve taken exams under the new GCSE grading system, please see our conversion table to convert your GCSE grades.
|Qualification||Typical offer/minimum requirement|
ABB from 3 full A levels, including German grade B, or BBB if A level Mathematics is included
Mathematics grade B
|Access to HE Diploma||
The University will not necessarily make conditional offers to all Access candidates but will continue to assess them on an individual basis.
If we make you an offer, you will need to obtain/pass the overall Access to Higher Education Diploma and may also be required to obtain a proportion of the total level 3 credits and/or credits in particular subjects at merit grade or above.
|BTEC Level 3 Extended Diploma (formerly BTEC National Diploma)||
Two Distinctions at BTEC National Diploma (formerly Diploma) plus A level Mathematics at grade B
Three Distinctions at BTEC National Extended Diploma (formerly Extended Diploma) plus A level Mathematics at grade B and A level German at grade B
34 points overall or 15 points at HL, including Mathematics 4 at HL or SL, or Mathematical Studies 5, and German HL A1/A2/B at 4/5/5 or SL A1/A2/B at 5/6/6
The University welcomes applications from international students. Our international recruitment team can guide you on entry requirements. See our International Student website for further information about entry requirements for your country.
If you need to increase your level of qualification ready for undergraduate study, we offer a number of International Foundation Programmes.
Meet our staff in your country
For more advice about applying to Kent, you can meet our staff at a range of international events.
English Language Requirements
Please see our English language entry requirements web page.
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. You attend these courses before starting your degree programme.
General entry requirements
Please also see our general entry requirements.
The 2018/19 regulated UK/EU tuition fees have not yet been set. The University intends to set fees at the maximum permitted level for new and returning UK/EU students. Please see further information below.
As a guide only the 2017/18 full-time UK/EU tuition fees for this programme are £9,250 unless otherwise stated:
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.*
Your fee status
The University will assess your fee status as part of the application process. If you are uncertain about your fee status you may wish to seek advice from UKCISA before applying.
Fees for Year in Industry
For 2017/18 entrants, the standard year in industry fee for home, EU and international students is £1,350. Fees for 2018/19 entry have not yet been set.
Fees for Year Abroad
UK, EU and international students on an approved year abroad for the full 2017/18 academic year pay £1,350 for that year. Fees for 2018/19 entry have not yet been set.
Students studying abroad for less than one academic year will pay full fees according to their fee status.
General additional costs
Kent offers generous financial support schemes to assist eligible undergraduate students during their studies. See our funding page for more details.
You may be eligible for government finance to help pay for the costs of studying. See the Government's student finance website.
Scholarships are available for excellence in academic performance, sport and music and are awarded on merit. For further information on the range of awards available and to make an application see our scholarships website.
The Kent Scholarship for Academic Excellence
At Kent we recognise, encourage and reward excellence. We have created the Kent Scholarship for Academic Excellence.
For 2018/19 entry, the scholarship will be awarded to any applicant who achieves a minimum of AAA over three A levels, or the equivalent qualifications (including BTEC and IB) as specified on our scholarships pages.
The scholarship is also extended to those who achieve AAB at A level (or specified equivalents) where one of the subjects is either Mathematics or a Modern Foreign Language. Please review the eligibility criteria.