Business

Master of Arts in Economic Policy

The Master of Arts in Economic Policy is a postgraduate programme offered by the University of Nairobi through the School of Economics. The programme provides advanced training in economic theory, policy analysis, and quantitative methods, preparing graduates for careers in economic policy formulation, evaluation, and advisory roles.

The programme combines rigorous economic theory with practical policy applications, equipping students with the analytical tools needed to design, implement, and evaluate economic policies. Students develop competence in microeconomic and macroeconomic analysis, econometrics, public finance, trade policy, and development economics.

Core areas of study include microeconomic theory, macroeconomic theory, econometrics, public finance, monetary economics, international trade, development economics, and research methods. The programme emphasises both theoretical foundations and their application to real-world policy challenges facing Kenya and the broader East African region.

The University of Nairobi's School of Economics has the largest pool of economists in Kenya and East Africa, with an academic staff establishment of over 50 members. The school is organised around three departments: Economic Theory, Applied Economics, and Mathematics and Quantitative Economics, providing comprehensive coverage of the discipline.

The programme is designed for economics graduates seeking advanced training for careers in government, central banking, international organisations, research institutions, and the private sector. Students complete coursework, examinations, and a project paper, with one intake per year in September.

Graduates are prepared for careers as economic policy analysts, economists, policy advisors, researchers, and consultants in government ministries, the Central Bank of Kenya, international organisations, research institutions, financial institutions, and private sector organisations engaged in economic analysis and policy work.

Skills Required

Microeconomic Analysis
Macroeconomic Analysis
Econometrics
Public Finance
Monetary Economics
International Trade Analysis
Development Economics
Policy Evaluation
Economic Modelling
Research Methods in Economics

Key Subjects

Microeconomic Theory
Macroeconomic Theory
Econometrics
Public Finance
Monetary Economics
International Trade
Development Economics
Economic Policy Analysis
Quantitative Methods
Research Methods in Economics

Certifications

African Economic Research Consortium Membership
Economics Society of Kenya Membership

Specializations

Fiscal Policy

Focuses on government taxation and spending policies, including tax reform, public expenditure management, and fiscal sustainability analysis.

Monetary Policy

Examines central banking, monetary policy instruments, inflation targeting, and the conduct of monetary policy in developing economies.

Trade Policy

Covers international trade theory and policy, including trade agreements, regional integration, and trade policy formulation in African contexts.

Development Policy

Focuses on economic development strategies, poverty reduction, inequality, and the role of policy in promoting sustainable development.

Public Economics

Examines the role of government in the economy, including public goods, externalities, social welfare, and public expenditure analysis.

Quantitative Economics

Covers advanced quantitative methods including econometric modelling, cost-benefit analysis, and economic forecasting.

Financial Economics

Examines financial markets, monetary systems, and the intersection of financial economics with policy formulation.

African Economic Integration

Focuses on regional economic integration in Africa, including AfCFTA, EAC, and COMESA frameworks and their policy implications.

Duration: 2 years
Public, up to: Ksh 304,500
Private, up to: Ksh 130,000
Job market: High

The programme

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

Practicalities

Study mode: Full-time, Part-time
Attachment: 0 months
Average class: 30 students
Award: Masters

What you study

10 subjects

Microeconomic Theory
Macroeconomic Theory
Econometrics
Public Finance
Monetary Economics
International Trade
Development Economics
Economic Policy Analysis
Quantitative Methods
Research Methods in Economics

Modules

10 in the programme

Microeconomic Theory
Year 1Semester 13 creditsCore
Examines advanced microeconomic theory including consumer behaviour, production theory, market structures, welfare economics, and their applications to policy analysis.
Macroeconomic Theory
Year 1Semester 13 creditsCore
Covers advanced macroeconomic theory including economic growth, business cycles, inflation, unemployment, and macroeconomic policy frameworks.
Econometrics
Year 1Semester 13 creditsCore
Covers econometric methods including linear regression, hypothesis testing, time series analysis, and their application to economic data analysis and policy evaluation.
Public Finance
Year 1Semester 23 creditsCore
Examines government revenue and expenditure, taxation theory, public debt, fiscal policy, and budgetary processes in developing economies.
Monetary Economics
Year 1Semester 23 creditsCore
Covers monetary theory and policy, central banking, money supply, interest rates, inflation, and the conduct of monetary policy in developing economies.
International Trade
Year 1Semester 23 creditsCore
Examines international trade theory, trade policy, regional integration, WTO framework, and trade policy formulation in African contexts.
Development Economics
Year 2Semester 13 creditsCore
Covers theories of economic development, poverty, inequality, growth strategies, and the role of policy in promoting sustainable development.
Economic Policy Analysis
Year 2Semester 13 creditsCore
Examines methods and approaches to economic policy analysis, including cost-benefit analysis, policy evaluation, and evidence-based policy formulation.
Research Methods in Economics
Year 2Semester 13 creditsCore
Covers quantitative and qualitative research methodologies for conducting original economic research and policy analysis.
Project Paper
Year 2Semester 26 creditsCore
Original research project paper on an economic policy topic, demonstrating mastery of economic analysis and policy evaluation, assessed through written submission.

Specialisations

Fiscal Policy
Focuses on government taxation and spending policies, including tax reform, public expenditure management, and fiscal sustainability analysis.
Monetary Policy
Examines central banking, monetary policy instruments, inflation targeting, and the conduct of monetary policy in developing economies.
Trade Policy
Covers international trade theory and policy, including trade agreements, regional integration, and trade policy formulation in African contexts.
Development Policy
Focuses on economic development strategies, poverty reduction, inequality, and the role of policy in promoting sustainable development.
Public Economics
Examines the role of government in the economy, including public goods, externalities, social welfare, and public expenditure analysis.
Quantitative Economics
Covers advanced quantitative methods including econometric modelling, cost-benefit analysis, and economic forecasting.
Financial Economics
Examines financial markets, monetary systems, and the intersection of financial economics with policy formulation.
African Economic Integration
Focuses on regional economic integration in Africa, including AfCFTA, EAC, and COMESA frameworks and their policy implications.

A day as a student

A typical day involves attending lectures on microeconomic theory, macroeconomic analysis, or econometrics at the University of Nairobi's School of Economics. Students engage in problem-solving sessions, statistical analysis exercises using economic data, and seminar discussions on contemporary policy issues. The programme includes computer lab sessions for econometric modelling and data analysis. Students participate in policy analysis workshops, examining real-world economic challenges facing Kenya and the region. Those in the project phase conduct independent research on economic policy topics, analysing data and working on their project paper under faculty supervision.

The trade offs

In its favour

Programme offered at UoN's School of Economics, the largest and most established economics faculty in Kenya and East Africa.
Affordable fees at KES 609,000 total for a public university programme, significantly less than private university alternatives.
High demand for economic policy skills in government, central banking, international organisations, and the private sector.
Strong industry links with Central Bank of Kenya, KIPPR A, AERC, IMF, and World Bank providing research and career opportunities.

Against it

Only one intake per year in September, limiting admission flexibility.
Requires at least Upper Second Class Honours degree in Economics, excluding graduates from other disciplines.
Large class sizes at UoN may limit individual attention from faculty.
The programme is rigorous and quantitative, which may be challenging for students without strong mathematics backgrounds.

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

Public305k to 305k

305k at University of Nairobi305k at University of Nairobi

Private130k to 130k

130k at Mount Kenya University130k at Mount Kenya 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

UoN 609K/2yr=304.5K/yr(official). MKU 65K/sem*2=130K/yr(eduplace). Strathmore unverified.

Funding options include HELB postgraduate loans for Kenyan students, University of Nairobi bursaries for demonstrated financial need, and AERC Collaborative Masters scholarships for outstanding economics students from East Africa.

Funding options

HELB Postgraduate Loan
University of Nairobi Bursary
AERC Collaborative Masters Scholarship

Scholarships

3 recorded

HELB Postgraduate Loan
LoanKsh 200,000Kenyan
Kenyan students pursuing postgraduate studies at recognised universities.
AERC Collaborative Masters Scholarship
ScholarshipKsh 300,000
Outstanding economics students from East Africa, administered through the African Economic Research Consortium.
University of Nairobi Bursary
ScholarshipKsh 50,000Kenyan
UoN students demonstrating academic merit and financial need.

Getting in

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

What you need

KCSE mean grade: N/A (Postgraduate)
Alternative entry: Persons with lower qualifications but with publications and postgraduate diplomas after a Bachelor degree are also considered for admission. The Department of Economics has one intake per year in September. International students pay fees in USD.

How you are assessed

4 components

Continuous Assessment
Coursework40% of the mark
CATs, problem sets, econometric assignments, policy brief assignments, and seminar presentations conducted throughout each semester.
Final Examination
Examination60% of the mark
End-of-semester examination covering economic theory, quantitative methods, and policy analysis, including essay questions and problem-solving.
Econometric Project
Practical20% of the mark
Practical assessment involving econometric analysis of real economic data, demonstrating ability to apply quantitative methods to policy questions.
Project Paper
Research100% of the mark
Original research project paper on an economic policy topic, demonstrating mastery of economic analysis and policy evaluation, assessed through written submission.

Accreditation

Accredited by the Commission for University Education (CUE), ensuring recognition across Kenya and the wider East African region. The programme is offered by the University of Nairobi's School of Economics, the largest economics faculty in Kenya and East Africa.

Accredited by

Commission for University Education (CUE)
Academic accreditationRequired
Statutory accreditation for all Kenyan universities and their degree programmes.
Economics Society of Kenya
Professional membership
Kenyan professional association for economists. Membership recommended for professional networking and career development.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

6 roles

Economic Policy Analyst
High demandKsh 90,000 to Ksh 300,000
Analyses economic data and policy issues, providing research and recommendations to government ministries, think tanks, or international organisations.
Economist
High demandKsh 100,000 to Ksh 350,000
Conducts economic analysis and research for government, central banks, international organisations, financial institutions, or private sector companies.
Policy Advisor
Moderate demandKsh 110,000 to Ksh 350,000
Advises government officials or organisations on economic policy formulation, implementation, and evaluation.
Budget Analyst
Moderate demandKsh 80,000 to Ksh 250,000
Analyses government budgets, expenditure patterns, and fiscal policies for government agencies, research institutions, or international organisations.
Development Economist
Moderate demandKsh 90,000 to Ksh 320,000
Researches development issues including poverty, inequality, and growth, working with development agencies, research institutions, or international organisations.
University Lecturer
Low demandKsh 90,000 to Ksh 200,000
Teaches economics at universities and colleges, conducting research and contributing to academic scholarship in economic policy.

Graduate outcomes

Graduates pursue careers as economic policy analysts, economists, policy advisors, and researchers in government, central banking, international organisations, and financial institutions.

Where these fields lead

8 careers

Tools you will learn

STATA
SoftwarePrimary
Statistical software widely used in economics for data analysis, econometric modelling, and policy evaluation.
EViews
SoftwarePrimary
Econometric software for time series analysis, forecasting, and macroeconomic modelling used in economic policy research.
R
Software
Open-source statistical programming language for data analysis, econometrics, and data visualisation in economic research.
Microsoft Excel
Software
Spreadsheet software used for economic data management, basic statistical analysis, and financial modelling in policy work.

Industry links

Common misconceptions

Economic policy is only about government budgets and taxation.
The programme covers a wide range of policy areas including monetary policy, trade policy, development policy, and regulatory policy, with applications across multiple sectors.
You need to be good at mathematics to study economic policy.
While quantitative skills are important, the programme develops these skills progressively, and policy analysis also requires strong writing, critical thinking, and communication abilities.
Economic policy graduates only work in government.
Graduates work in central banks, international organisations, research institutions, financial institutions, NGOs, and private sector companies, applying economic analysis across diverse sectors.
The programme is purely theoretical with no practical application.
The programme emphasises application of economic theory to real-world policy challenges, with students analysing actual policy issues and completing a project paper on a practical topic.
An MA in Economic Policy is the same as an MBA.
The MA focuses on economic theory, quantitative analysis, and policy evaluation, while an MBA focuses on business management, strategy, and organisational leadership.
Job opportunities for economic policy graduates are limited in Kenya.
Economic policy skills are in high demand across government, banking, research, and international organisations, with Kenya hosting numerous international agencies that employ economists.