Business

Bachelor of Economics and Finance

The Bachelor of Economics and Finance is a four-year degree programme offered at multiple Kenyan universities. The programme combines economic theory with financial management, preparing graduates for careers in banking, investment, financial analysis, and corporate finance.

The curriculum covers microeconomics, macroeconomics, financial economics, corporate finance, investment analysis, financial markets, banking, risk management, econometrics, financial accounting, portfolio management, international finance, research methods, and financial regulation. The programme integrates economic analysis with practical financial skills.

Students develop skills in financial analysis, investment appraisal, risk assessment, economic modelling, portfolio management, financial reporting, econometric analysis, research methodology, and data-driven decision-making. The programme combines lectures, tutorials, computer laboratory sessions, case studies, and industry attachment.

Graduates pursue careers as financial analysts, investment analysts, banking officers, risk analysts, corporate finance officers, and economic analysts. They find employment in commercial banks, investment firms, insurance companies, central bank, government ministries, and corporate finance departments. The programme prepares graduates for postgraduate studies in finance, economics, and business administration.

The programme is offered at several public universities including Kenyatta University (KES 183,600/year), Kirinyaga University (KES 183,600/year), Machakos University (KES 183,600/year), University of Embu (KES 183,600/year), Maseno University (KES 183,600/year), and Mama Ngina University College (KES 180,000/year). Mount Kenya University offers the programme privately at KES 105,000/year. KUCCPS codes vary by institution.

Accreditation is provided by the Commission for University Education (CUE), the statutory body responsible for quality assurance and regulation of university education in Kenya. Admission requires a KCSE mean grade of C+ (Plus) with C+ in Mathematics.

Duration: 4 Years
Public, up to: Ksh 183,600
Private, up to: Ksh 181,150
Job market: High

The programme

What you study, how long it takes, and how it is delivered.

Practicalities

Study mode: Full-time
Attachment: 3 months
Average class: 50 students
Award: Bachelor

What you study

10 subjects

Microeconomics
Macroeconomics
Financial Economics
Corporate Finance
Investment Analysis
Financial Markets
Banking
Risk Management
Econometrics
International Finance

Modules

12 in the programme

Principles of Microeconomics
Year 1Semester 13 creditsCore
Introduction to microeconomic theory, consumer behaviour, production theory, and market structures.
Principles of Macroeconomics
Year 1Semester 13 creditsCore
Introduction to macroeconomic theory, national income, inflation, unemployment, and fiscal policy.
Financial Accounting
Year 1Semester 23 creditsCore
Principles of financial accounting, preparation of financial statements, and accounting standards.
Mathematics for Economists
Year 1Semester 23 creditsCore
Mathematical tools for economic and financial analysis including calculus and optimisation.
Corporate Finance
Year 2Semester 13 creditsCore
Corporate financial management, capital budgeting, capital structure, and dividend policy.
Financial Markets and Institutions
Year 2Semester 13 creditsCore
Structure and operations of financial markets, banking systems, and non-bank financial institutions.
Investment Analysis and Portfolio Management
Year 2Semester 23 creditsCore
Securities analysis, portfolio theory, asset allocation, and investment strategy.
Econometrics
Year 3Semester 13 creditsCore
Statistical methods for economic and financial data, regression analysis, and hypothesis testing.
Risk Management and Insurance
Year 3Semester 13 creditsCore
Financial risk identification, measurement, mitigation, and insurance principles.
International Finance
Year 3Semester 23 creditsCore
Exchange rates, balance of payments, international financial markets, and global financial management.
Financial Regulation and Banking Law
Year 4Semester 13 creditsCore
Regulatory framework for financial institutions, banking law, and financial sector supervision.
Research Project and Industrial Attachment
Year 4Semester 26 creditsCore
Supervised industrial attachment at a financial institution and a final-year research project.

Specialisations

Corporate Finance
Focus on corporate financial management, capital structure, dividend policy, and valuation. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Investment Analysis
Focus on securities analysis, portfolio management, and investment strategy. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Banking and Financial Institutions
Focus on commercial banking, central banking, and financial institution management. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Risk Management
Focus on financial risk identification, measurement, and mitigation strategies. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
International Finance
Focus on exchange rates, international financial markets, and global financial management. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Financial Economics
Focus on the intersection of economics and finance, including asset pricing and market efficiency. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.

A day as a student

A typical day combines lectures, tutorials, and computer laboratory sessions. Morning sessions cover microeconomics, macroeconomics, and financial economics theory, while afternoons focus on corporate finance case studies, investment analysis practicals, and financial modelling workshops. Students work on financial data analysis projects, participate in investment club activities, and attend guest lectures from banking and finance professionals. The programme emphasises both theoretical understanding and practical financial skills.

The trade offs

In its favour

Combines economics and finance, opening diverse career paths in banking, investment, and corporate finance.
Offered at seven universities giving students wide choice of institution and location.
Strong analytical and financial skills highly valued in Kenya's growing financial sector.
Private option at MKU (KES 105,000/year) provides an affordable alternative.

Against it

Requires strong mathematical aptitude for econometrics and financial modelling.
Competitive job market in banking and finance may require additional certifications like CFA or CPA.
Public university fees are relatively high compared to other arts and social science programmes.
Curriculum can be demanding with both economics and finance course loads.

What it costs

Tuition at both ends of the market, and how to pay for it.

What it costs, and where

Against 331 business courses

Public184k to 184k

184k at Kenyatta University184k at Kenyatta University

Private105k to 181k

105k at Mount Kenya University181k at Kabarak University

Annual tuition in Kenyan shillings, rounded. The upright tick is the median for this field, so a bar sitting entirely to its right is an expensive programme by the standards of its own subject.

The fine print

KU 183,600/yr (KUCCPS). MKU 105K, Kabarak 181,150/yr (KUCCPS/educationnewshub).

HELB loans and Higher Education Fund (HEF) support are available for qualifying Kenyan students. County government bursaries and institutional scholarships may also be available.

Funding options

Higher Education Loans Board (HELB)
Higher Education Fund (HEF)
County Government Bursaries

Scholarships

4 recorded

Higher Education Loans Board (HELB) Loan
Government loanKsh 60,000Kenyan
Kenyan students admitted to recognised universities. Must demonstrate financial need.
Higher Education Fund (HEF)
Government fundingKenyan
Kenyan students in public universities under the new funding model based on financial need assessment.
County Government Bursaries
Government bursaryKenyan
Kenyan students from respective counties demonstrating financial need.
ICPAK Scholarship for Accounting and Finance Students
ScholarshipKenyan
Bright and needy students admitted to accounting or finance programmes

Getting in

The grades, the alternatives, and who accredits the award.

What you need

KCSE mean grade: C+ (Plus)
Alternative entry: KACE with at least two principal passes and one subsidiary with Credit in Mathematics at KCE; OR a mean grade of C- (Minus) at KCSE with a KNEC Diploma in Economics and Finance or equivalent from a recognised institution; OR any other qualification accepted by the university Senate.

How you are assessed

4 components

Continuous Assessment Tests and Assignments
Coursework30% of the mark
Written tests, problem sets, financial modelling assignments, and case study reports throughout the semester.
Computer Laboratory Practicals
Practical20% of the mark
Econometrics practicals, financial modelling exercises, and data analysis projects.
End of Semester Examinations
Examination50% of the mark
Written examinations covering all course content for the semester.
Research Project and Industrial Attachment
Project100% of the mark
Supervised industrial attachment at a financial institution plus a final-year research project.

Accreditation

The programme is accredited by the Commission for University Education (CUE), the statutory body responsible for quality assurance and regulation of university education in Kenya.

Accredited by

Commission for University Education (CUE)
Academic accreditationRequired
CUE is the statutory body responsible for the accreditation and quality assurance of university programmes in Kenya.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

6 roles

Financial Analyst
High demandKsh 55,000 to Ksh 300,000
Analyses financial data, evaluates investments, and provides recommendations to financial institutions.
Investment Analyst
High demandKsh 60,000 to Ksh 350,000
Researches investment opportunities, analyses securities, and advises on portfolio allocation.
Banking Officer
High demandKsh 45,000 to Ksh 180,000
Manages banking operations, credit analysis, and customer financial services in commercial banks.
Risk Analyst
Moderate demandKsh 55,000 to Ksh 250,000
Identifies, measures, and mitigates financial risks in banking and corporate environments.
Corporate Finance Officer
Moderate demandKsh 50,000 to Ksh 220,000
Manages corporate financial operations, budgeting, and financial planning for organisations.
Economic Analyst
Moderate demandKsh 50,000 to Ksh 250,000
Analyses economic trends and financial market data to inform business and policy decisions.

Graduate outcomes

Graduates work as financial analysts, investment analysts, and banking officers in commercial banks, investment firms, and corporate finance departments. Demand is high with strong opportunities in Kenya's growing financial sector.

Where these fields lead

8 careers

Tools you will learn

Microsoft Excel
Data analysisPrimary
Spreadsheet tool for financial modelling, data analysis, and investment calculations.
Stata
Statistical softwarePrimary
Statistical software for econometric analysis and financial data modelling.
Bloomberg Terminal
Financial data
Financial data platform for real-time market data, analysis, and trading.
R
Statistical programming
Open-source programming language for statistical computing and financial analysis.
QuickBooks
Accounting software
Accounting software for financial record-keeping and reporting.

Certifications

Industry links

Common misconceptions

Economics and Finance is the same as a Bachelor of Commerce.
While related, this programme focuses specifically on the intersection of economic theory and financial management, providing deeper analytical and quantitative skills.
Graduates can only work in banks.
Graduates work in diverse sectors including investment firms, insurance, government, corporate finance, consulting, and international organisations.
The programme is too theoretical with no practical value.
The programme includes financial modelling, investment analysis practicals, case studies, and industry attachment providing strong practical skills.
You need to be good at accounting to study this.
While financial accounting is covered, the programme focuses on economic analysis and financial management, building these skills from foundational levels.