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Master of Science in Econometrics

The Master of Science in Econometrics is a postgraduate programme that trains graduates in econometric theory, statistical methods for economics, and quantitative analysis. The programme prepares graduates for advanced careers in economic analysis, forecasting, policy analysis, and data-driven decision-making.

Core areas include econometric theory, statistical methods, time series analysis, forecasting, microeconometrics, macroeconometrics, panel data analysis, financial econometrics, economic modelling, and research methods. Students engage with theoretical foundations and practical econometric applications using statistical software.

The programme is offered by numerous universities across Kenya including University of Nairobi, Kenyatta University, Strathmore University, KCA University, Moi University, Egerton University, JKUAT, Maseno University, and many others. Kenyatta University offers Master of Economics (Econometrics) through its School of Economics. Strathmore offers related MSc Economics through its Institute of Mathematical Sciences.

Students develop competencies in econometric modelling, statistical analysis, forecasting, economic data analysis, policy evaluation, and research. The programme includes coursework, statistical practicals, examinations, supervised research, and thesis over four semesters.

The programme is delivered over two years (four semesters) with full-time and part-time study modes. Kenyatta University requires Upper Second Class in Economics, Economics and Finance, or Economics and Statistics, or Lower Second with two years experience. Strathmore postgraduate tuition ranges KES 300,000–350,000 total.

Graduates pursue careers as econometricians, economic analysts, forecasters, policy analysts, researchers, and lecturers in government agencies, financial institutions, research institutions, international organisations, and universities.

Skills Required

Econometric Theory and Modelling
Statistical Analysis and Inference
Time Series Analysis and Forecasting
Microeconometrics and Causal Inference
Panel Data Analysis
Financial Econometrics
Economic Data Analysis and Interpretation
Policy Evaluation Methods
Econometric Software Proficiency (Stata/R/EViews)
Economic Research Methods

Key Subjects

Econometric Theory
Statistical Methods
Time Series Analysis
Forecasting
Microeconometrics
Macroeconometrics
Panel Data Analysis
Financial Econometrics
Economic Modelling
Economic Research Methods

Certifications

AERC Professional Certification
KIPPRA Policy Analysis Certification

Specializations

Time Series Econometrics

Focuses on time series analysis, forecasting, ARIMA models, volatility models, and analysing and forecasting economic time series data.

Microeconometrics

Examines microeconometrics, cross-sectional analysis, discrete choice models, treatment effects, and analysing individual-level economic data.

Financial Econometrics

Covers financial econometrics, asset pricing models, volatility modelling, risk analysis, and applying econometric methods to financial data.

Macroeconometric Modelling

Focuses on macroeconometric modelling, macroeconomic forecasting, DSGE models, and modelling and forecasting macroeconomic variables.

Panel Data Analysis

Examines panel data analysis, fixed and random effects, dynamic panels, and analysing panel data in economic research.

Policy Evaluation

Covers policy evaluation, impact evaluation, causal inference, programme evaluation, and using econometric methods for policy analysis.

Duration: 2 years
Public, up to: Ksh 200,000
Private, up to: Ksh 300,000
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

Econometric Theory
Statistical Methods
Time Series Analysis
Forecasting
Microeconometrics
Macroeconometrics
Panel Data Analysis
Financial Econometrics
Economic Modelling
Economic Research Methods

Modules

12 in the programme

Econometric Theory
Year 1Semester 13 creditsCore
Examines econometric theory, classical linear regression, hypothesis testing, specification, diagnostics, and understanding econometric theory and methods.
Statistical Methods for Economics
Year 1Semester 13 creditsCore
Covers statistical methods, probability, distribution theory, estimation, inference, and applying statistical methods to economic data.
Time Series Analysis
Year 1Semester 13 creditsCore
Examines time series analysis, ARIMA, VAR, cointegration, volatility models, and analysing and forecasting economic time series data.
Microeconometrics
Year 1Semester 23 creditsCore
Covers microeconometrics, cross-sectional analysis, discrete choice models, treatment effects, and analysing individual-level economic data.
Macroeconometric Modelling
Year 1Semester 23 creditsCore
Examines macroeconometric modelling, macroeconomic models, DSGE, macro forecasting, and modelling and forecasting macroeconomic variables.
Panel Data Analysis
Year 1Semester 23 creditsCore
Covers panel data analysis, fixed and random effects, dynamic panel models, and analysing panel data in economic research.
Financial Econometrics
Year 2Semester 13 creditsCore
Examines financial econometrics, asset pricing models, volatility modelling, risk analysis, and applying econometric methods to financial data.
Forecasting Methods
Year 2Semester 13 creditsCore
Covers forecasting methods, forecast evaluation, model selection, economic forecasting, and using econometric models for economic forecasting.
Policy Evaluation and Causal Inference
Year 2Semester 13 creditsCore
Examines policy evaluation, impact evaluation, causal inference, programme evaluation, and using econometric methods for policy analysis.
Econometric Software and Computing
Year 2Semester 13 creditsCore
Covers econometric software, Stata, R, EViews, data management, programming, and using econometric software for data analysis and modelling.
Economic Research Methods
Year 2Semester 23 creditsCore
Examines research methods for economics, experimental design, data collection, and conducting econometric research, preparing students for their thesis.
Research Thesis
Year 2Semester 26 creditsCore
Original research thesis on an econometrics topic, demonstrating mastery of research methods and econometric knowledge, assessed through written submission and oral defence.

Specialisations

Time Series Econometrics
Focuses on time series analysis, forecasting, ARIMA models, volatility models, and analysing and forecasting economic time series data.
Microeconometrics
Examines microeconometrics, cross-sectional analysis, discrete choice models, treatment effects, and analysing individual-level economic data.
Financial Econometrics
Covers financial econometrics, asset pricing models, volatility modelling, risk analysis, and applying econometric methods to financial data.
Macroeconometric Modelling
Focuses on macroeconometric modelling, macroeconomic forecasting, DSGE models, and modelling and forecasting macroeconomic variables.
Panel Data Analysis
Examines panel data analysis, fixed and random effects, dynamic panels, and analysing panel data in economic research.
Policy Evaluation
Covers policy evaluation, impact evaluation, causal inference, programme evaluation, and using econometric methods for policy analysis.

A day as a student

A typical day during the MSc Econometrics programme begins with morning lectures on econometric theory, statistical methods, or time series analysis. Students engage in theoretical discussions on econometric models, statistical inference, and economic data analysis. Econometric theory sessions cover classical regression, hypothesis testing, specification, diagnostics, and understanding econometric theory and methods. Statistical methods sessions examine probability, distribution theory, estimation, inference, and applying statistical methods to economic data. Time series sessions cover ARIMA, VAR, cointegration, volatility models, and analysing and forecasting economic time series. Microeconometrics sessions involve cross-sectional analysis, discrete choice, treatment effects, and analysing individual-level economic data. Macroeconometrics sessions cover macroeconomic modelling, DSGE, macro forecasting, and modelling macroeconomic variables. Panel data sessions examine fixed effects, random effects, dynamic panels, and analysing panel data in economic research. Financial econometrics sessions cover asset pricing, volatility modelling, risk analysis, and applying econometrics to financial data. Forecasting sessions involve forecasting methods, forecast evaluation, model selection, and economic forecasting techniques. Policy evaluation sessions cover impact evaluation, causal inference, programme evaluation, and using econometrics for policy analysis. Software practicals provide hands-on experience with Stata, R, EViews, and econometric software for data analysis and modelling. Research methodology sessions prepare students for their thesis, covering econometric research methods, experimental design, and data analysis. Guest lectures from CBK economists, KIPPRA researchers, KNBS statisticians, and AERC fellows provide real-world insights. The two-year programme culminates in a research thesis.

The trade offs

In its favour

Programme is offered at 69 universities across Kenya, making it one of the most widely available and accessible master's programmes.
Kenya's data-driven governance, financial sector analysis, policy evaluation, and economic planning create high demand for qualified econometrics professionals.
Strong career opportunities with CBK, KNBS, KIPPRA, AERC, IMF, financial institutions, research institutions, and international organisations.
Programme provides highly transferable quantitative and analytical skills applicable across sectors and industries.

Against it

Programme requires strong quantitative background in mathematics, statistics, or economics, which may exclude some graduates.
With 69 universities offering the programme, quality may vary significantly across institutions.
Programme involves rigorous mathematical and statistical content, which may be challenging for some students.
Fee structures vary widely across 69 institutions, from affordable public to expensive private universities.

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

Public120k to 200k

120k at Kisii University200k at University of Nairobi

Private119k to 300k

119k at Mount Kenya University300k at Strathmore 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

Kisii ~100,000/yr tuition (brochure). UoN, MKU, Strathmore unverified for Econometrics.

HELB postgraduate loans are available for Kenyan students. AERC provides research grants and collaborative training for African economists. KIPPRA supports policy research capacity building. The programme's wide availability and economic analysis focus attracts government and international organisation funding.

Funding options

HELB Postgraduate Loan
AERC Research Grants
KIPPRA Training Funding

Scholarships

3 recorded

HELB Postgraduate Loan
LoanKsh 200,000Kenyan
Kenyan students pursuing postgraduate econometrics studies at recognised universities.
AERC Research Grants
GrantKsh 400,000
AERC provides research grants and collaborative training for African economists, supporting postgraduate research in econometrics and economics.
KIPPRA Training Funding
GrantKsh 300,000Kenyan
KIPPRA supports policy research capacity building, providing funding for training in economic analysis and econometrics.

Getting in

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

What you need

KCSE mean grade: N/A (Postgraduate)
Alternative entry: The programme accepts economics, statistics, mathematics, finance, actuarial science, and related quantitative graduates. Two-year programme (four semesters) with full-time and part-time options. Kenyatta University requires Upper Second Class in Economics, Economics and Finance, or Economics and Statistics, or Lower Second with two years experience. Available at 69 universities across Kenya.

How you are assessed

4 components

Coursework and Assignments
Coursework30% of the mark
Continuous assessment through coursework assignments, econometric analysis projects, data exercises, problem sets, and class participation.
Written Examinations
Examination30% of the mark
Written examinations covering econometric theory, statistical methods, time series, and microeconometrics, conducted at end of each semester.
Practical and Computing Assessment
Practical40% of the mark
Assessment of practical and computing skills including econometric software use, data analysis, model estimation, forecasting, and project reports.
Research Thesis
Research100% of the mark
Original research thesis on an econometrics topic, demonstrating mastery of research methods and econometric knowledge, assessed through written submission and oral defence.

Accreditation

The programme is accredited by the Commission for University Education (CUE). Offered at 69 universities across Kenya, making it one of the most widely available master's programmes. Kenyatta University offers Master of Economics (Econometrics) through its School of Economics. The programme meets CUE standards for postgraduate econometrics training. KNBS and CBK provide economic data for econometric analysis in Kenya.

Accredited by

Commission for University Education (CUE)
Academic accreditationRequired
Programme accredited by CUE. Offered at 69 universities across Kenya. Kenyatta University offers Master of Economics (Econometrics) through its School of Economics. The programme meets CUE standards for postgraduate econometrics training.
Kenya National Bureau of Statistics (KNBS)
Professional accreditation
KNBS sets standards for statistical practice in Kenya. Graduates working in official statistics and economic analysis may collaborate with KNBS on data and statistics initiatives.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

6 roles

Econometrician
High demandKsh 140,000 to Ksh 600,000
Develops and applies econometric models, conducting economic analysis, forecasting, and providing data-driven insights for organisations.
Economic Analyst
High demandKsh 120,000 to Ksh 550,000
Analyses economic data, conducting economic research, preparing economic reports, and supporting economic decision-making in organisations.
Forecaster
Moderate demandKsh 130,000 to Ksh 550,000
Develops economic forecasts, using econometric models for prediction, and supporting planning and decision-making with economic forecasts.
Policy Analyst
High demandKsh 130,000 to Ksh 600,000
Analyses economic policy, conducting policy evaluation, impact assessment, and providing evidence-based policy recommendations.
Research Economist
Moderate demandKsh 140,000 to Ksh 600,000
Conducts economic research, developing econometric models, and contributing to economic knowledge and policy research.
University Lecturer
High demandKsh 130,000 to Ksh 500,000
Teaches econometrics and economics in universities, conducting research and training future economics and econometrics professionals.

Graduate outcomes

Graduates pursue careers as econometricians, economic analysts, and forecasters in government agencies, financial institutions, research institutions, and international organisations.

Where these fields lead

8 careers

Tools you will learn

Stata
SoftwarePrimary
Econometric software for data analysis, econometric modelling, panel data, time series, and statistical analysis in economics and econometrics.
R
SoftwarePrimary
R statistical programming language for econometric analysis, statistical modelling, data visualisation, and econometric research.
EViews
Software
Econometric software for time series analysis, forecasting, panel data, and econometric modelling with user-friendly interface.
SPSS
Software
Statistical software for data analysis, survey analysis, statistical modelling, and economic data analysis.

Industry links

Common misconceptions

Econometrics is just about running regressions in software.
The programme involves deep mathematical statistics, econometric theory, causal inference, and research design, far beyond running software commands.
Econometrics is the same as statistics.
While statistics is foundational, econometrics focuses on economic data, causal inference, endogeneity, and economic model specification, with unique challenges and methods.
There is limited demand for econometricians in Kenya.
Kenya's data-driven governance, financial sector analysis, policy evaluation, and economic planning create high demand for qualified econometrics professionals.
This programme is only for economics graduates.
The programme accepts graduates from economics, statistics, mathematics, finance, actuarial science, and related quantitative fields.
Econometrics is too theoretical with no practical application.
Econometrics is highly applied, used for forecasting, policy evaluation, financial analysis, and decision-making across government, finance, and industry.
A master's in econometrics is redundant after a bachelor's in economics.
The master's provides advanced quantitative skills, econometric modelling, research capability, and career progression to senior analytical and research positions.