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Undergraduate Courses 2017

European Economics (German) - BSc (Hons)



Economics examines some of the profound issues in our life and times: economic growth and sustainable development, unemployment, inflation, poverty, emerging market economies, financial and monetary crises, environmental and natural resource problems, international trade and aid to poor countries, currencies and the balance of payments, the impact of minimum wages and the problems of global economic change are just some of the areas covered.

On our European Economics (German) programme, you have the opportunity to study for a year at a partner university in Germany.

The first year of this programme introduces you to the ways in which economists think about different issues and the kinds of tools that economists use for analysing real economic problems.

In your second and final years, you take compulsory modules in macroeconomics, microeconomics and quantitatitve economics, together with a number of specialised modules from the wide variety offered by the School.

About the School of Economics

Economics at Kent is consistently ranked in the top 10 economics departments in the UK for student satisfaction and teaching quality. Our passion for the subject and research-led approach to teaching help provide you with a first-class academic experience, as well as building personal skills and enhancing career prospects. You are part of a cosmopolitan academic community which, coupled with a thriving research culture, creates an inspiring and challenging environment to study economics.

Our degrees combine up-to-date real-world applications with solid theoretical knowledge and an excellent training in core economics. You can choose to specialise in areas such as finance, econometrics, microeconomic theory, international development, and agri-environmental economics.

At Kent, you are taught by economists who are internationally recognised for their research but who also take a practical approach to the subject, combining modern theoretical and applied economics, taught in exciting and innovative ways.

Many of the Economics staff advise government bodies including the UK’s Department of Food and Rural Affairs (Defra), the Department for International Development (DFID) and the European Commission. Staff also advise international organisations including the Organisation for Economic Co-operation and Development (OECD), the Bank of England, the European Central Bank (ECB), and the United Nations Conference on Trade and Development (UNCTAD).

Independent rankings

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).

Course structure

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.

Stage 1

Possible modules may include:

EC304 - Principles of Economics (30 credits)

Economics looks at the material aspects of people’s lives. It is about how people make choices about what and how to produce and consume. It is about how the difference in economic outcomes between firms, people and countries can be related to the effects of choices they and others have made. It builds on the very simple and plausible assumption that people want to get the most they can, given the constraints they face. 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. The first term covers the principles of microeconomics and 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.

Credits: 30 credits (15 ECTS credits).

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EC309 - Statistics for Economics (15 credits)

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, Business and Accounting although it is also suitable for students taking other Social Science degrees. This module introduces you to statistical concepts and methods in preparation for Stages 2 and 3 modules in economics; it is a prerequisite for Stages 2 and 3 Economics modules and is a core input to the second year quantitative module, EC511. So as well as learning basic statistics, the module emphasises the interpretation of statistical results; and 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.

Credits: 15 credits (7.5 ECTS credits).

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EC314 - Data Analysis for Economists (15 credits)

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 evaluation of economic data. Finally, the module will improve your computing and quantitative skills within a structured environment.

Credits: 15 credits (7.5 ECTS credits).

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EC305 - Mathematics for Economics Mode A (15 credits)

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 when you arrive at the University.

The aim of the module is to provide you with a good understanding of the mathematics necessary for your Stages 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 (and business) problems. In the long term, the analytical and quantitative skills you acquire from this module are relevant to many different occupations.

Credits: 15 credits (7.5 ECTS credits).

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EC306 - Mathematics for Economics Mode B (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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GE301 - Learning German 3 (Post A Level) (30 credits)

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.

Credits: 30 credits (15 ECTS credits).

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GE329 - Intensive Beginners German (30 credits)

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.

Credits: 30 credits (15 ECTS credits).

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You have the opportunity to select wild modules in this stage

Stage 2

Possible modules may include:

EC500 - Microeconomics (30 credits)

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 than in first year.

Microeconomics is concerned with the behaviour of individual economic agents such as consumers, firms and governments. It provides the foundations for understanding all types of economics, including macroeconomics, so is relevant for all other Economics modules you take.

The module is carefully designed to 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.

Credits: 30 credits (15 ECTS credits).

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EC502 - Macroeconomics (30 credits)

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. This 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 last 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 the recent crisis starting in 2008.

Credits: 30 credits (15 ECTS credits).

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EC580 - Introduction to Econometrics (15 credits)

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).

Credits: 15 credits (7.5 ECTS credits).

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EC581 - Introduction to Time-Series Econometrics (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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GE507 - Learning German 4 (30 credits)

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.

Credits: 30 credits (15 ECTS credits).

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GE516 - Advanced Intermediate German (30 credits)

This module comprises: translation from German to English, grammar exercises, conversation classes, and the culture and politics of the German-speaking countries ('Landeskunde').

Credits: 30 credits (15 ECTS credits).

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Year abroad

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.

Students on a four-year degree programme spend a year between Stages 2 and 3 at one of our partner universities in France, Germany, Greece or Spain. For a full list, 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.

Possible modules may include:

Stage 3

Possible modules may include:

EC565 - Extended Economics Essay (15 credits)

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 essays 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.

Credits: 15 credits (7.5 ECTS credits).

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EC541 - Economics Dissertation (30 credits)

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.

Credits: 30 credits (15 ECTS credits).

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EC538 - Economic Controversies (15 credits)

The purpose of this module is to teach the skills of economic reasoning and argument by exposing students to the big debates within the discipline and in economic policy.

The module will draw on current and past controversies across many economics sub-disciplines. This will equip students with the ability both to understand and contribute to the debates surrounding the recognised controversies within the discipline at a level consistent with an intermediate undergraduate degree course in Economics. The curriculum will also provide an insight into the academic and professional development of the discipline.

Students will be introduced to several controversies drawn from a range of topics pertinent to the discipline and relevant sub-disciplines. Students choose two of these to study in the Spring term.

Credits: 15 credits (7.5 ECTS credits).

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EC540 - Development Economics (15 credits)

There is a wide range of views and approaches to the study of economic development spanning the whole of the political spectrum from the Marxist left to the libertarian right, and also a rich historical literature. To understand the module, some prior knowledge of economic theory and statistics is required, and a willingness to read widely. But the aim of the module is to teach the basic principles of economic development in order to answer such questions as:

Why are there divisions in the world economy between rich and poor countries?

How did these divisions arise and what forces perpetuate them?

How important are such factors as agriculture, industry, investment performance, population growth, domestic finance, international finance and trade in explaining the economic performance of nations?

What role does economics in general have to play in an understanding of why some countries are poor and others rich?

Credits: 15 credits (7.5 ECTS credits).

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EC568 - World Economic and Financial History from the 19th Century (15 credits)

The aim of the module is to introduce you to the evolution of the world economy from the 19th century to the present. This period experienced rapid growth of trade, saw a massive migration from Europe to the Americas and the rise, fall and rise again of globalisation. A knowledge of the history of the world economy in this period allows us to understand today’s world economy better; enlightens our understanding of world income inequality, trade patterns and sources of growth; and teaches us important policy lessons from past recessions and recoveries.

Topics covered on the module include growth and trends pre-1913 and the interwar years; the gold standard; commodity and labour market integration; the Great Depression; and recovery from the Great Depression.

Credits: 15 credits (7.5 ECTS credits).

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EC569 - Economic Growth (15 credits)

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?

Credits: 15 credits (7.5 ECTS credits).

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EC570 - Microeconomics of Development (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC571 - Agricultural, Food and Natural Resource Economics (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC542 - Econometrics I: An Introduction to Modern Econometrics using Stata (15 credits)

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 quantitative methods (EC511) 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.

Credits: 15 credits (7.5 ECTS credits).

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EC543 - Econometrics 2: Topics in Time Series (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC544 - Economic Integration in the EU (15 credits)

The European Union features strongly in all discussions of economic policy and political decision making. Frequently economists are unable to provide a consistent analytical framework for the analysis of the various issues posed. In this module we explore the meaning and analysis of regional economic integration in the context of the EU. This provides 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 achievements to date. The module deals first with the origins of the EU, the theory of a Customs Union and questions of trade integration. Secondly, it covers the problems and relevance of monetary integration and the common currency area to the process of economic integration. Thirdly, it deals with some specific policy areas, in particular labour market policies, common agricultural policy and competition policy. At the end of this module you are expected to have knowledge of the basic theories underlying customs unions, and of the rationale for, and strength 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 EU. 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. The nature of the economic role of the European Union is such that this 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.

Credits: 15 credits (7.5 ECTS credits).

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EC545 - Economics of the Labour Market (15 credits)

Unemployment has become one of the biggest economic challenges facing many countries, placing the labour market at the core of current economic debate. Understanding the labour market is a prerequisite for informed discussions of issues surrounding the unemployment problem as well as other important topics like discrimination and immigration.

The first part of the module follows a fairly conventional approach to the study of labour economics, and covers the supply and demand for labour. We incorporate policy-orientated material throughout – for example, we examine the incentive effects of taxation and unemployment benefits on labour supply, and discuss the effect of pay-roll taxes on labour demand. The second part of the module covers the process of wage determination and unemployment. We analyse the dynamic behaviour of unemployment from a flow perspective (the ins and outs of unemployment) and introduce the role of matching and search frictions to explain the presence of frictional unemployment. Frictional unemployment exists because, even if there are as many vacancies as unemployed workers, in a labour market with imperfect information workers and firms need to spend time to meet and create a new employment relationship. Finally, the module analyses the dramatic rise in unemployment in some OECD countries over the last economic crisis, focusing particularly on the role played by the labour market institutions.

During the module you attend computer sessions to learn how to solve the labour supply model and the labour market equilibrium with the Excel Solver. The basic function of applied sessions in these labs is to improve your analytical skills in a dynamic and interactive way. The Excel Solver is described as a user-friendly and flexible tool for economic optimisation.

Credits: 15 credits (7.5 ECTS credits).

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EC546 - Games for Economics and Business (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC547 - Industrial Economics (15 credits)

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 chance 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.

Credits: 15 credits (7.5 ECTS credits).

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EC548 - International Finance (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC549 - International Trade (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC550 - Monetary Economics (15 credits)

This final year optional module covers a variety of monetary issues from both a theoretical and a policy perspective. It starts with an introduction to the role of money in the economy, and theories of money supply and demand. A discussion of the IS/LM model gives a basic foundation for analysing how monetary policy affects the economy, and a first theoretical perspective on the neutrality of money – ie whether monetary policy has real effects on the macroeconomy, in either the short or long run. This is followed by a discussion of other theoretical perspectives on neutrality, and relevant evidence. If monetary policy does have real effects, how are these brought about and what are the implications for monetary transmission? 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.

Credits: 15 credits (7.5 ECTS credits).

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EC553 - Public Economics (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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EC562 - Economics of Finance 1 (15 credits)

The economic analysis of financial markets and instruments is the starting point of financial economics and this module provides a concise overview of capital markets. Specifically, it examines how the economics of uncertainty have been applied extensively in financial markets. It focuses on the structure of each financial market (such as the trading volume and investors in it), recommended investment strategies for a specific type of investor, and market conventions. We emphasise both practical knowledge and analytical techniques and several useful mathematical skills are explained.

The module first introduces key principles, such as discounting, diversification, no arbitrage and hedging, and then discusses each asset class, such as bonds, equities and their derivatives (instruments), emphasising the general idea behind them. Although different types of assets require different methods of valuations and risk control, the basic principles are common to all asset classes. The module also covers asset liability management (ALM) and other related topics.

Credits: 15 credits (7.5 ECTS credits).

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EC563 - Economics of Finance 2 (15 credits)

The module develops your skills in asset pricing and your understanding of the theoretical basis of this subject. It stresses practical training in asset pricing.

The two main topics in the module are investors’ utility maximisation and arbitrage theory in derivative pricing, which is mainly discussed in discrete time models. The most important goal is to give you the ability to apply the model to real data.

Although the module requires some mathematical techniques, its aim is to offer practical training, putting stress on the intuitions and heuristics behind theorems and formulae, rather than their rigorous derivations and semantic definitions. Moreover, you are not only expected to understand theories but also expected to master how to use them.

Credits: 15 credits (7.5 ECTS credits).

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EC531 - Policy Analysis (15 credits)

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. For students studying for an economics degree, the module complements the core second year modules by focusing on the policy application of economic concepts and provides an introduction to material studied in greater depth in third year ‘specialist’ modules. For other students, it provides the opportunity to consider an economist’s perspective on important policy issues. A key aspect of this module is the relationship of economics to current and ongoing policy problems.

The module introduces you to a variety of contemporary, mainly microeconomic, policy issues. Alongside formal lectures, it also consists of several workshops, which provide opportunities to develop and demonstrate your problem solving and analytical skills. They also give guidance on identifying sources in the literature, data relevant to economic research, analysis of data and the presentation of results orally, as well as in writing. This focus provides opportunities to develop a range of highly transferable skills and lay the foundations to the independent learning skills you require for many of the modules in Stage 3.

Credits: 15 credits (7.5 ECTS credits).

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EC532 - Environmental Economics, Institutions and Policy (15 credits)

This module introduces you to environmental economics and economics generally. A key objective of the module is to help you develop an ability to apply economic thinking to environmental problems. The module considers various aspects of environmental economics including why pollution occurs and how policy can be designed and implemented to deal with it, how to place economic value on the environment and how to understand sustainable development in microeconomic terms.

The module is divided into three parts. In Part A we examine the relationship between the economy and the environment. In Part B we consider how environmental policy can be designed, implemented and evaluated in relation to environmental pollution. In Part C we examine issues of environmental valuation, which is a rapidly growing area of research in environmental economics. The emphasis in all parts of the course is to understand the links between theory and practice.

Credits: 15 credits (7.5 ECTS credits).

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EC534 - The Economics of Money and Banking (15 credits)

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.

Credits: 15 credits (7.5 ECTS credits).

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You have the opportunity to select wild modules in this stage

Teaching & 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.

Programme aims

The programme aims to:

  • provide a stimulating education in the principles of economics and their application, in which students are motivated to achieve their full potential
  • offer a flexible and progressive curriculum that is suitable for students who have or have not studied economics before
  • develop in students the ability to apply economic knowledge, analytical tools and skills in a range of theoretical, applied and policy problems
  • widen the student learning experience through providing an opportunity 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
  • 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 in economics
  • develop a range of skills that will be of value in future employment
  • provide information and advice on future employment and higher education opportunities.

Learning outcomes

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 problems
  • mathematical, statistical and computing methods used in economics
  • economic data and methods used to analyse such data
  • economic anlaysis of policy
  • specific problems, issues and policies in a range of areas in economics
  • key concepts affecting decision-making
  • critical discussion of Economic issues and policies in politics and 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.

Intellectual skills

You gain the following intellectual abilities:

  • abstract the essential features of a complex system
  • 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.

Subject-specific skills

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
  • 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
  • provide advice on how to make economic decisions
  • Ability to synthesise and compare critically different economic analyses of an economic issue
  • synthesise and compare critically different analyses of an economic issue
  • the ability to investigate a supervised final-year project on an economic topic of your choice
  • written, aural and oral fluency in the German language.

Transferable skills

You gain transferable skills in the following:

  • effective communication of analysis and ideas both orally and in writing
  • the ability to assemble, analyse, use and present data
  • understanding of, and ability to, use economic, mathematical and quantitative methods to analyse issues and problems
  • analyse and make decisions using economic concepts, such as opportunity cost and strategic behaviour
  • development of IT skills using statistical and econometric packages
  • independence in initiating and executing work at university level and in a foreign country
  • think critically about proposed analyses and solutions to a problem or issue
  • responsibility for managing your own learning and academic performance
  • manage a supervised final-year project on an economic topic of your choice.


Economics at Kent has a high success rate in the graduate employment market, with past students going on to careers in accountancy, banking, finance, journalism, management consultancy and business. Our range of modules provides the opportunity to tailor your degree to support your particular career choice, giving you a competitive edge in the employment market. Additionally, there are modules that concentrate on preparing you for life as a professional economist.

Our degrees not only provide you with economics training but also with many transferable skills. Most employers are looking for skills such as good communication, initiative and proactiveness, team working, time management, planning and organisation, analysing information and problem solving.

Economics at Kent has been recognised for its excellent employability record in the national league tables:

  • 7th for Graduate Prospects (based on 88% of full-time, first degree UK graduates taking up professional level employment or further study within 6 months of graduation) in The Times and Sunday Times Good University Guide 2016
  • 5th for career prospects in the The Guardian University Guide 2016

Recent Economics graduates have gone on to work for Deloitte, the Government Economic Service, HMRC, Citibank, KPMG, PwC, Bank of America, Schroders, Goldman Sachs and Barclays.

Entry requirements

Home/EU students

The University will consider applications from students offering a wide range of qualifications, typical requirements are listed below, students offering alternative qualifications should contact the Admissions Office for further advice. It is not possible to offer places to all students who meet this typical offer/minimum requirement.

Qualification Typical offer/minimum requirement
A level

ABB from 3 full A levels, including German at grade B, or BBB if A level Mathematics is included.


Mathematics at grade B

Access to HE Diploma

The University of Kent will not necessarily make conditional offers to all access candidates but will continue to assess them on an individual basis. If an offer is made candidates will be required 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)

BTEC National Diploma at DD or BTEC Extended Diploma at DDD plus A level Mathematics at grade B and A level German at grade B.

International Baccalaureate

34 points overall or 16 points at HL, including Mathematics SL or HL at 4, or Mathematical Studies at 6.  HL German A1/A2/B at 4/5/5 or SL A1/A2/B at 5/6/6.

International students

The University receives applications from over 140 different nationalities and consequently will consider applications from prospective students offering a wide range of international qualifications. Our International Development Office will be happy to advise prospective students on entry requirements. See our International Student website for further information about our country-specific requirements.

Please note that if you need to increase your level of qualification ready for undergraduate study, we offer a number of International Foundation Programmes through Kent International Pathways.

Qualification Typical offer/minimum requirement
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 through Kent International Pathways.

General entry requirements

Please also see our general entry requirements.


University funding

Kent offers generous financial support schemes to assist eligible undergraduate students during their studies. See our funding page for more details. 

Government funding

You may be eligible for government finance to help pay for the costs of studying. See the Government's student finance website.

The Government has confirmed that EU students applying for university places in the 2017 to 2018 academic year will still have access to student funding support for the duration of their course.


General scholarships

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. The scholarship will be awarded to any applicant who achieves a minimum of AAA over three A levels, or the equivalent qualifications 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.

Enquire or order a prospectus


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T: +44 (0)1227 827272


The 2017/18 tuition fees for this programme are:

UK/EU Overseas
Full-time £9250 £13810

Fees for Year Abroad/Industry

As a guide only, UK/EU/International students on an approved year abroad for the full 2017/18 academic year pay an annual fee of £1,350 to Kent for that year. Students studying abroad for less than one academic year will pay full fees according to their fee status. 

Please note that for 2017/18 entrants the University will increase the standard year in industry fee for home/EU/international students to £1,350.

UK/EU fee paying students

The Government has announced changes to allow undergraduate tuition fees to rise in line with inflation from 2017/18.

In accordance with changes announced by the UK Government, we are increasing our 2017/18 regulated full-time tuition fees for new and returning UK/EU fee paying undergraduates from £9,000 to £9,250. The equivalent part-time fees for these courses will also rise from £4,500 to £4,625. This was subject to us satisfying the Government's Teaching Excellence Framework and the access regulator's requirements. This fee will ensure the continued provision of high-quality education.

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 information@kent.ac.uk

Key Information Sets

The Key Information Set (KIS) data is compiled by UNISTATS and draws from a variety of sources which includes the National Student Survey and the Higher Education Statistical Agency. The data for assessment and contact hours is compiled from the most populous modules (to the total of 120 credits for an academic session) for this particular degree programme. Depending on module selection, there may be some variation between the KIS data and an individual's experience. For further information on how the KIS data is compiled please see the UNISTATS website.

If you have any queries about a particular programme, please contact information@kent.ac.uk.

The University of Kent makes every effort to ensure that the information contained in its publicity materials is fair and accurate and to provide educational services as described. However, the courses, services and other matters may be subject to change. Full details of our terms and conditions can be found at: www.kent.ac.uk/termsandconditions.

*Where fees are regulated (such as by the Department of Business Innovation and Skills or Research Council UK) they will be increased up to the allowable level.

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The University of Kent, Canterbury, Kent, CT2 7NZ, T: +44 (0)1227 764000

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