Business

Master of Science in Economic Policy Analysis and Management

The Master of Science in Economic Policy Analysis and Management is a postgraduate programme that prepares professionals for advanced practice in economic policy analysis, policy management, and economic decision-making. The programme combines economic theory with practical policy analysis, quantitative methods, and management application.

Core areas include microeconomics for policy, macroeconomics for policy, quantitative methods, public finance, econometrics, policy analysis, development economics, international economics, research methods, and thesis. Students engage with both economic theory and practical policy analysis through coursework and research.

The programme is offered by Kenyatta University as Master of Economics (Policy and Management) through the School of Business, Economics and Tourism Management, JKUAT as MSc in Economics Policy Analysis, and Maseno University as Master of Economics (Economic Policy Analysis and Management) through the School of Business and Economics. All are public universities offering programmes over two academic years through full-time and part-time modes of study.

Students develop competencies in microeconomics, macroeconomics, econometrics, public finance, policy analysis, development economics, and quantitative methods. The programme includes coursework, examinations, policy projects, and a supervised research thesis.

Kenyatta University charges approximately KES 246,000/year for Master of Economics (Policy and Management). JKUAT charges similar fees for MSc in Economics Policy Analysis. Maseno University charges similar fees for Master of Economics. Entry requires a Bachelor's degree with Second Class Honours Upper Division in Economics or related fields from a recognised university.

Graduates pursue careers as economic policy analysts, policy managers, economic researchers, government economists, development consultants, and lecturers in economics across government ministries, central banks, research institutions, international organisations, consulting firms, and universities.

Skills Required

Microeconomic Policy Analysis
Macroeconomic Policy Management
Econometrics and Quantitative Methods
Public Finance and Fiscal Policy
Development Economics and Policy
International Economics and Trade Policy
Policy Evaluation and Impact Assessment
Economic Modelling and Forecasting
Research Methods in Economics
Academic Writing and Thesis Research

Key Subjects

Microeconomic Policy Analysis
Macroeconomic Policy Management
Econometrics and Quantitative Methods
Public Finance and Fiscal Policy
Development Economics and Policy
International Economics and Trade Policy
Policy Evaluation and Impact Assessment
Economic Modelling and Forecasting
Research Methods in Economics
Thesis Research

Certifications

KIPPRA Policy Analysis Certification
IMF Economic Policy Certification

Specializations

Fiscal Policy and Public Finance

Focuses on fiscal policy and public finance, covering taxation, expenditure, debt, fiscal management, and managing fiscal policy.

Monetary Policy and Central Banking

Examines monetary policy and central banking, covering interest rates, inflation, money supply, and managing monetary policy.

Development Economics

Covers development economics, covering growth, poverty, inequality, structural transformation, and managing development policy.

International Trade and Finance

Focuses on international trade and finance, covering trade policy, exchange rates, balance of payments, and managing international economic policy.

Policy Evaluation and Impact Assessment

Examines policy evaluation, covering impact assessment, cost-benefit, evaluation methods, and managing policy evaluation.

Economic Modelling and Forecasting

Covers economic modelling, covering macro models, micro models, forecasting, simulation, and managing economic modelling.

Duration: 2 years
Public, up to: Ksh 246,000
Private, up to: Ksh 700,000
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: 25 students
Award: Masters

What you study

10 subjects

Microeconomic Policy Analysis
Macroeconomic Policy Management
Econometrics and Quantitative Methods
Public Finance and Fiscal Policy
Development Economics and Policy
International Economics and Trade Policy
Policy Evaluation and Impact Assessment
Economic Modelling and Forecasting
Research Methods in Economics
Thesis Research

Modules

12 in the programme

Microeconomics for Policy Analysis
Year 1Semester 13 creditsCore
Examines consumer theory, producer theory, market structures, welfare, externalities, and managing microeconomic policy.
Macroeconomics for Policy Management
Year 1Semester 13 creditsCore
Covers national income, inflation, unemployment, growth, fiscal and monetary policy, and managing macroeconomic policy.
Quantitative Methods for Policy Analysis
Year 1Semester 13 creditsCore
Examines optimisation, game theory, statistics, mathematics, and managing quantitative analysis for policy.
Econometrics
Year 1Semester 13 creditsCore
Covers regression, time series, panel data, forecasting, causal inference, and managing econometric analysis.
Public Finance and Fiscal Policy
Year 1Semester 23 creditsCore
Examines taxation, expenditure, debt, fiscal federalism, sustainability, and managing public finance.
Development Economics and Policy
Year 1Semester 23 creditsCore
Covers growth, poverty, inequality, structural transformation, institutions, and managing development policy.
International Economics and Trade Policy
Year 1Semester 23 creditsCore
Examines trade theory, trade policy, exchange rates, balance of payments, and managing international economic policy.
Policy Analysis and Evaluation
Year 1Semester 23 creditsCore
Covers policy formulation, analysis, implementation, evaluation, impact assessment, and managing policy processes.
Economic Modelling and Forecasting
Year 2Semester 13 creditsCore
Examines macro models, micro models, CGE, DSGE, simulation, and managing economic modelling.
Monetary Policy and Central Banking
Year 2Semester 13 creditsCore
Covers interest rates, inflation, money supply, banking, financial stability, and managing monetary policy.
Research Methods in Economics
Year 2Semester 13 creditsCore
Covers research design, data collection, analysis, economic research methods, and conducting economic research, preparing students for their thesis.
Research Thesis
Year 2Semester 29 creditsCore
Original supervised research thesis on an economic policy topic, demonstrating mastery of research methods and economics knowledge, assessed through written submission and oral defence.

Specialisations

Fiscal Policy and Public Finance
Focuses on fiscal policy and public finance, covering taxation, expenditure, debt, fiscal management, and managing fiscal policy.
Monetary Policy and Central Banking
Examines monetary policy and central banking, covering interest rates, inflation, money supply, and managing monetary policy.
Development Economics
Covers development economics, covering growth, poverty, inequality, structural transformation, and managing development policy.
International Trade and Finance
Focuses on international trade and finance, covering trade policy, exchange rates, balance of payments, and managing international economic policy.
Policy Evaluation and Impact Assessment
Examines policy evaluation, covering impact assessment, cost-benefit, evaluation methods, and managing policy evaluation.
Economic Modelling and Forecasting
Covers economic modelling, covering macro models, micro models, forecasting, simulation, and managing economic modelling.

A day as a student

A typical day during the MSc in Economic Policy Analysis and Management programme combines lectures, seminars, tutorials, computer laboratory sessions, practical exercises, and independent study. Sessions cover microeconomics, macroeconomics, econometrics, and policy analysis. Microeconomics sessions examine consumer theory, producer theory, market structures, welfare, and managing microeconomic policy. Macroeconomics sessions cover national income, inflation, unemployment, growth, fiscal and monetary policy, and managing macroeconomic policy. Econometrics sessions cover regression, time series, panel data, forecasting, and managing econometric analysis. Public finance sessions cover taxation, expenditure, debt, fiscal federalism, and managing public finance. Policy analysis sessions cover policy formulation, analysis, implementation, evaluation, and managing policy processes. Development economics sessions cover growth, poverty, inequality, structural transformation, and managing development policy. International economics sessions cover trade theory, trade policy, exchange rates, balance of payments, and managing international economic policy. Quantitative methods sessions cover optimisation, game theory, statistics, and managing quantitative analysis. Economic modelling sessions cover macro models, micro models, CGE, DSGE, and managing economic modelling. Research methods sessions prepare students for their thesis, covering research design, data collection, and analysis. Computer laboratory sessions provide hands-on experience with Stata, R, EViews, and econometric software. Practical exercises provide hands-on experience with policy analysis, impact assessment, and economic modelling. Seminars and discussion groups provide opportunities for debating current economic policy issues and presenting research findings. Guest lectures from experienced economists, policy makers, and researchers provide practical insights. The programme culminates in a supervised research thesis on an economic policy topic.

The trade offs

In its favour

High demand for economic policy analysts with Kenya's policy reforms, devolution, and development planning needs.
Programme offered by three public universities (KU, JKUAT, Maseno), providing institutional choice.
KU offers competitive fees at approximately KES 246,000/year for Master of Economics (Policy and Management).
Graduates are eligible for KIPPRA and IMF certifications, enhancing career prospects.

Against it

JKUAT and Maseno specific economics policy fees not independently verified.
No private university confirmed offering this programme.
Programme requires economics or related background, limiting access for non-related graduates.
Quantitative and econometric components 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

Public200k to 246k

200k at Maseno University246k at Kenyatta University

Private119k to 700k

119k at Mount Kenya University700k 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

KU 246,000/yr verified (mawese, webhostingvoice). Maseno, MKU, Strathmore unverified.

HELB postgraduate loans are available for Kenyan students. KU and JKUAT may offer postgraduate bursaries and scholarships. KIPPRA and some research organisations may sponsor staff for postgraduate study. International organisations like IMF and World Bank may offer fellowships for economic policy professionals.

Funding options

HELB Postgraduate Loan
KU Postgraduate Scholarship
JKUAT Postgraduate Bursary

Scholarships

3 recorded

HELB Postgraduate Loan
LoanKsh 200,000Kenyan
Kenyan students pursuing postgraduate studies at recognised universities.
KU Postgraduate Scholarship
ScholarshipKsh 100,000Kenyan
KU offers postgraduate scholarships for eligible students.
JKUAT Postgraduate Bursary
ScholarshipKsh 100,000Kenyan
JKUAT offers postgraduate bursaries for eligible students.

Getting in

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

What you need

KCSE mean grade: N/A (Postgraduate)
Alternative entry: KU requires Upper Second in Economics or related fields, or Lower Second with Grade C in relevant units. JKUAT requires Upper Second in Economics or related fields, or Lower Second with evidence of research ability. Maseno requires Upper Second in Economics or related fields, or Lower Second with evidence of postgraduate research, or Pass with Postgraduate Diploma. Contact respective universities for specific admission requirements.

How you are assessed

4 components

Coursework and Continuous Assessment
Coursework30% of the mark
Continuous assessment through coursework assignments, problem sets, policy briefs, seminar presentations, and class participation.
Written Examinations
Examination70% of the mark
Written examinations covering microeconomics, macroeconomics, econometrics, and policy analysis.
Policy Project Assessment
Project30% of the mark
Practical assessment through policy analysis projects, economic modelling exercises, and demonstrating policy analysis skills.
Research Thesis
Research100% of the mark
Original supervised research thesis on an economic policy topic, demonstrating mastery of research methods and economics knowledge, assessed through written submission and oral defence.

Accreditation

The programme is accredited by the Commission for University Education (CUE). Kenyatta University, JKUAT, and Maseno University (all public) offer masters programmes in economic policy analysis and management. All programmes meet CUE standards for postgraduate training in economics. Graduates are eligible for KIPPRA policy analysis certification and IMF economic policy certification.

Accredited by

Commission for University Education (CUE)
Academic accreditationRequired
Programme accredited by CUE. Kenyatta University, JKUAT, and Maseno University (all public) offer masters programmes in economic policy analysis and management. All programmes meet CUE standards for postgraduate training in economics. Graduates are eligible for KIPPRA policy analysis certification and IMF economic policy certification.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

6 roles

Economic Policy Analyst
High demandKsh 130,000 to Ksh 600,000
Analyses economic policy, overseeing formulation, evaluation, and managing economic policy analysis.
Policy Manager
High demandKsh 140,000 to Ksh 650,000
Manages policy programmes, overseeing implementation, monitoring, and managing policy processes.
Economic Researcher
Moderate demandKsh 120,000 to Ksh 550,000
Conducts economic research, overseeing analysis, publications, and managing research projects.
Government Economist
High demandKsh 120,000 to Ksh 550,000
Provides economic advice to government, overseeing analysis, forecasting, and managing economic policy.
Development Consultant
Moderate demandKsh 140,000 to Ksh 650,000
Provides development consulting, overseeing advisory, assessment, strategy, and managing development projects.
Economics Lecturer
Moderate demandKsh 120,000 to Ksh 500,000
Teaches economics at university or college level, overseeing instruction, research, and academic supervision.

Graduate outcomes

Where these fields lead

8 careers

Tools you will learn

Stata
SoftwarePrimary
Stata for econometric analysis, covering regression, time series, panel data, and managing econometric analysis.
EViews
Software
EViews for econometric analysis, covering time series, forecasting, modelling, and managing econometric analysis.
R Studio
Software
R Studio for data analysis, covering econometrics, statistics, visualisation, and managing statistical computing.
Microsoft Excel
Software
Excel for data analysis, covering economic data, budgets, modelling, and managing data analysis.

Industry links

Common misconceptions

Economic policy analysis is just about giving advice.
Economic policy analysis covers comprehensive microeconomics, macroeconomics, econometrics, modelling, and evaluation beyond just giving advice.
This programme is only for government economists.
Economic policy skills are valuable for private sector analysts, consultants, researchers, and NGO professionals beyond just government economists.
Econometrics is just about running regressions.
Econometrics covers comprehensive regression, time series, panel data, forecasting, causal inference, and model specification.
Public finance is just about government budgets.
Public finance covers comprehensive taxation, expenditure, debt, fiscal federalism, and fiscal sustainability.
Development economics is just about poor countries.
Development economics covers comprehensive growth, poverty, inequality, structural transformation, and institutions.
Policy evaluation is just about measuring outcomes.
Policy evaluation covers comprehensive impact assessment, cost-benefit, counterfactual, and causal methods.