Economics at Kent Professor Alan Carruth. Economics @ KentPage 2 What is Economics? the branch of social science that studies the allocation and distribution.

Economics at Kent

Professor Alan Carruth

Economics @ KentPage 2

What is Economics?

• the branch of social science that studies the allocation and distribution of goods and services

• it tackles the issues of scarcity and choice

• is a way of thinking about the world in a structured and analytical way

• enables you to make informed decisions about your future


What is Economics?

• Economics is usually divided into two main branches:

o Microeconomics examines the economic behaviour of individuals, households and businesses

o Macroeconomics examines an economy as a whole with a view to understanding the business cycle, economic growth, inflation, unemployment and policy making


What is Economics?

• Economics can also be divided into numerous sub-disciplines such as:

o international economicso monetary economicso development economicso industrial economicso public economicso labour economicso environmental economics


Why Study Economics?

• Economics asks interesting & important questions

• Economics is a prestigious discipline

• Economists get good jobs and are paid well

• Economics develops many important skills

o Logical, analytical & critical thinkingo Written & oral communication skillso Numeracy & problem solvingo Quantitative & IT skills


What do Economists do?

• Construct theoretical models to analyse complex behaviour

• Devise methods and procedures for obtaining useful, informative data

• Analyse data to test the effectiveness of current policies, products or services

• Evaluate past and present economic issues and trends

• Create mathematical modelling techniques to develop forecasts


What do Economists do?

• Write about economic trends and forecasts to inform the press and public

• Produce numerical and non-numerical written reports

• Conduct oral and visual presentations which recipients must be able to understand thoroughly in order to make decisions

• Advise on the suitability of alternative courses of action


Which Economics Degree?

• Single Honours Degrees

o Economics, Economics with Econometrics, o Financial Economics, o International Economics, o Industrial Economics, o Economics with a foreign language

• Joint Honours Degrees

o Economics & ...o Mathematics, Accounting, Politics, Business, Law,

Philosophy, Sociology, Anthropology


Economics Graduates & Careers

• Economic Analysis

o Private Consultancyo Local & Central Government (GES)

• Financial Services

• Management Consultancy

• Public Administration

• Journalism

• Forecasting & Statistics


Earnings Premia over 2 A-levels by Degree Subject, 1994–2006


Why Study Economics at Kent?

• What our peers think of us:o QAA Subject Review of Teaching and Learning in 2001 -

Score of 23/24, rated Excellent

o Successful internal quality review in 2005

o Ranked 16th in 2008 Research Assessment Exercise (RAE) with 75% of research rated Internationally Excellent

• What employers think of us o Our graduates get good jobs or entry onto high quality

postgraduate programmeso 75% in employment and 20% to postgraduate studies from

2008 cohort of graduates


Why Study Economics at Kent?

• What our students and others think of uso Department ranked 3rd in 2009 National Students Surveyo Rated “excellent” by Sunday Times University Guide 2008o League table position in 2010 University Guides

oTimes: 16th

oGuardian: 20th

o Increasing applications: +65% for 2009 entry


What Our Students Say About Us

• Many of the lecturers clearly have in-depth knowledge of their field of expertise. By this I mean that they can very often offer actual examples to highlight theory.

• The level of help from lecturers when needed is very good. Always plenty of resources available. Teaching techniques are very effective.

• IT resources and communication within the course via such resources have been exemplary. Thus, contact with staff is made with ease.


What Our Students Say About Us

• My lecturers were also available to help with any problems.

• Help from lecturers after-hours has been extremely good and helpful.

• Course is pretty well structured (most of the modules) and the lecturers are really enthusiastic about the subject and the stuff they teach.

• Third year was taught by professors passionate about their subjects, knowledgeable in these subjects and helpful.


What Our Peers Say About Us

• In the 2001 Subject Review, we were highly commended for:

o our high-quality teaching, informed by staff researcho the approachability of academic and support staffo the up-to-date content of our degree programmeso the wide choice of final year moduleso the impressive first destinations of our graduateso the encouragement of independent student learningo the quality of the constructive feedback that students receiveo the excellent computing facilities and extensive access


The Department

• 22 full-time academics + Support Staff, Teaching Assistants, Visiting Scholars

• Around 170 undergraduate students each year• Around 35 graduate students each year• Excellent support facilities in an attractive

environment


The Degree Programmes

• Single Honours Programmes (BSc)

o Economicso Financial Economicso Economics/Financial Economics with Econometricso Economics with Computingo Economics with a year in industry

• European Programmes (BSc)

o 4 year Single Honours Programmeso Include a year studying economics in France, Germany,

Spain or Greeceo Programmes may lead to a further qualification


The Degree Programmes

• Joint Honours Programmes (BA)

o Economics and Businesso Economics and Politicso Economics and Sociologyo Law and Economicso Accounting & Finance and Economicso Social Anthropology and Economics


The Degree Structure (Single Honours)

• Year 1 (Level C): Introduction (120 Credits)

o Compulsory Modules (60 Credits):

o Introductory Economics A or B (30 Credits)

oMathematics for Economists A or B (15 Credits)

oStatistics for Economists (15 Credits)

o Option Modules (60 Credits):

oContemporary European Economy (15 credits)

oStrategy and Games (15 credits)

oChoice of modules from other Social Sciences, Languages, Computing etc



• Year 2 (Level I) :Theory & Application (120 Credits)

o Compulsory Modules (90 Credits):

o Intermediate Macroeconomics (30 credits)

o Intermediate Microeconomics (30 credits)

oQuantitative Economics (30 credits)

o Specialist modules (30 credits):

oPolicy Analysis (15 credits)

oFinancial Analysis (15 credits)

oThe Public Sector (15 credits)

oEnvironmental Economics, Institutions & Policy (15 credits)

o Language (30 credits)



• Year 3/4 (Level H): Specialisation (120 Credits)

o Compulsory Modules (up to 30 Credits):

oDissertation (30 credits) or

oExtended Essay (15 credits) &/or

oApplied Economics Project (15 credits)

o Optional Specialist Modules (90 credits)

oWide choice of specialist modules available


Specialist Economics Modules

• Development Economics

• International Finance

• International Trade

• Public Economics I: Public Finance

• Public Economics II: Public Expenditure

• Economics of Finance I

• Economics of Finance II


Specialist Economics Modules

• Economic Integration in the EU

• Environmental Economics

• Industrial Economics

• Education, Skills and Earnings

• Games for Economics and Business

• Econometrics I: Foundations of Econometric Theory

• Econometrics II: Topics in Time Series


Admissions Requirements

• Typical Entry Requirements

o 320 UCAS Tariff points (equivalent to ABB)

o International Baccalaureate of at least 34 points

o European Baccalaureate of at least 75 points

• Required Subjects

o GCSE Mathematics Higher level grade B

o European Programmes require relevant language skills

o Single Honours Programmes with Econometrics require A level Mathematics grade B


Scholarships

• Additional to eligibility for bursaries or other university scholarships

• Award of £1000 per academic year

• Eligibility

o Applicants should have attained, or be expected to attain, a minimum of 340 tariff points (or equivalent).

• Application

o Submission of an essay of 1,000 words on; 'The Value of an Economics Degree'

o Performance at interview

Economics @ Kent

Postgraduate programmes

• MSc programmes Economics Economics and Econometrics Economics and Finance International Finance and Development International Development Applied Environmental Economics Agricultural Economics All programmes involve 8 taught modules plus a

Dissertation over 12 months Entry requirements: good first degree in Economics (or

related subject)

• PhD programme Advanced coursework and thesis over 36 months Entry requirement: masters degree in Economics

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Staff Members to Contact

• Acting Head of School

o Professor Alan Carruth

o Tel: 01227 827449

o Email: [email protected]

• Undergraduate Admissions Officer

o Dr Alastair Bailey

o Tel: 01227 824092

o Email: [email protected]

mailto:[email protected]

mailto:[email protected]


Further Information

• www.whystudyeconomics.ac.uk

• www.prospects.ac.uk

• www.education.guardian.co.uk/chooseadegree

• www.timesonline.co.uk/education

• www.ges.gov.uk

• www.kent.ac.uk/economics


Summary – What Economics at Kent Can Do For You!

• Excellent Facilities and a High Quality Learning Environment

• Flexibility in Programmes of Study

• Excellent Future Opportunities

Economics at Kent Professor Alan Carruth. Economics @ KentPage 2 What is Economics? the branch of social science that studies the allocation and distribution.

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