ECO |

**ECO 101** **Introduction to Economics (6 ECTS)**

This course aims at introducing students to basic economic concepts. The first part of the course introduces microeconomic concepts such as the circular flow of money, the production possibility frontier, comparative advantage and trade, consumer demand and production function, price and income elasticity, consumer surplus, the functioning of markets, economic policy and welfare and economics of the public sector. The second part of the course covers macroeconomic concepts and includes the measurement of national income and cost of living, various types of unemployment, role of minimum income and trade unions, measurement, causes and effects of inflation and aggregate demand and aggregate supply.

**ECO 111 PRINCIPLES OF MICROECONOMICS (7 ECTS)**

The course introduces the basic principles of individual decision making of consumers, firms as well as the government. After a short introduction of the basic concepts needed for understanding and analyzing economic problems, it examines the market forces of demand and supply and the calculation of elasticities. It then describes and analyses the impact of various government policies and explains how to evaluate the efficiency of market outcomes. The cost structure of firms and profit maximizing conditions, as well as, market structure is then analysed. Finally, it examines externalities and their impact on market outcomes and the gains from trade.

**ECO 112 APPLICATION OF QUANTITATIVE METHODS IN ECONOMICS (7 ECTS)**

**(Prerequisite: MAS 061)**

Applied Quantitative Methods in Economics is the first course out of a series of courses in econometrics aiming at building the foundations for the empirical analysis of economic phenomena such the inflation, unemployment, economic growth, and inequality.

In this course we study the basic elements of probability theory and statistics, the specification and estimation of the linear regression model, the properties of LS estimators in the linear regression model, inference (hypothesis testing and confidence intervals) in the linear regression model. We also study model selection and misspecification tests to assess the statistical adequacy of the model. Furthermore, we study the topic of heteroskedasticity, nonlinearity, and temporal dependence. Finally, we cover simple time-series models and prediction. One of the central goals of this course is to introduce the students to econometric software package STATA in the empirical applications of linear regression model using real observable economic data.

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**ECO 113 MATHEMATICS FOR ECONOMISTS (7 ECTS)**

**(Prerequisite: MAS 001)**

The aim of the course is to provide a firm foundation of the mathematical concepts and techniques used in economics. The core topics of the module are the fundamentals of mathematics, univariate and multivariate calculus, unconstrained and constrained optimization. Moreover, economic applications will be discussed for each topic.

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** ****ECO 121 PRINCIPLES OF MACROECONOMICS (7 ECTS)**

This course provides an introduction to the tools and concepts of macroeconomics. It focuses on the performance of national economies and policies instituted by governments and central banks that affect economic performance. The course introduces the issues of economic growth, unemployment and inflation, money creation and determination of the interest rates.

**ECO 211 MICROECONOMIC THEORY (7 ECTS)**

**(Prerequisite: ECO 111)**

Microeconomic theory analyze the behavior of consumers and firms, studies the ways in which they interact with markets and evaluates the performance of markets with respect to the effective use of available resources. The course studies the way in which consumer preferences, together with the constraints they face, determines demand for different goods, as well as the behavior of producers within the market framework they have to operate in. The course is concluded with the analysis of competitive markets.

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**ECO 221 MACROECONOMIC THEORY (7 ECTS)**

**(Prerequisite: ECO 121)**

The course begins with a short description of the main economic variables. Subsequently, the goods and money markets are analysed separately, and then, the closed economy IS-LM model is presented in detail to prepare students for understanding the differences between this and the more empirically relevant case of open macroeconomy models. The IS-LM model is then used for the analysis of fiscal and monetary policies. Next, the supply side of the economy is introduced. We analyse the labour market, the price setting and wage setting behaviour of firms and the medium-run equilibrium. At this point, the goods, money, and labour markets have been examined in great detail. The macroeconomic model that follows examines the simultaneous equilibrium in all markets, both in the short- and in the medium-run. Apart from the determination of the price level, nominal and real wages, interest rate and national income, this aggregate model is used for the analysis of fiscal and monetary policies, the inflation rate and the unemployment rate. The course then extends the IS-LM model to include the role of expectations, and to emphasize the open economy case. Finally, a basic economic growth model is introduced in order to help understand the main determinants of economic growth.

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**ECO 222 INTRODUCTION TO ECONOMETRICS (7 ECTS)**

**(Prerequisite: ECO 112)**

The primary objective of the course is to provide a thorough understanding of the linear regression model and its correct estimation. Particular emphasis is given to the interpretation of the regression results. Another aim of the course is the understanding of the various data sources and their proper use. A further objective is to understand the concept of causality and how it can be proved. Finally, students will be able to further develop their skills in using the econometric package Stata.

**ECO 223 MATHEMATICS FOR ECONOMISTS II (7 ECTS)**

**(Prerequisite: ECO 113)**

This course is a continuation of ECO 113 Mathematics for Economists I and its aim is to present some advanced mathematical topics that are used in static and dynamic economic problems. With the use of theory and exercises, emphasis will be placed in developing the abilities that are necessary for the core economics courses of the program of studies.

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**ECO 251 TOPICS IN MICROECONOMICS (7 ECTS)**

**(Prerequisite: ECO 211)**

The course provides a deeper understanding of markets by studying monopolistic and oligopolistic markets, focusing on the features that differentiate them compared to perfectly competitive markets. It covers the basic models of oligopoly (Cournot, Bertrand, Stackelberg) as well as the issues of collusion between firms in oligopolistic markets. Subsequently it provides an introduction to game theory and its applications in Economics, where the concept of decision making on problems that contain strategic interactions is studied. Additionally, the course covers problems of decision making in the presence of uncertainty or asymmetric information, as well as the impact of externalities and public goods on markets.

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**ECO 252 TOPICS IN MACROECONOMICS (7 ECTS)**

**(Prerequisite: ECO 221)**

The course provides students with a structured approach to selected topics of modern macroeconomic theory. The macroeconomic models that will be presented will typically be based on the microeconomic principles of rationality and individual optimization. Particular emphasis will be placed on general equilibrium theory within competitive markets and the theory of exogenous as well as endogenous economic growth. The sub-topics to be covered include the study of macroeconomic models that incorporate simple forms of heterogeneity, such us the OLG model, and a discussion of the concept of imperfect information and its importance for the macroeconomy.

**ECO 253 ECONOMETRICS METHODS (7 ECTS)**

**(Prerequisite: ECO 222)**

The Econometrics Methods course presupposes knowledge of the probability theory as covered in ECO 112, and builds upon the knowledge of the classical linear regression model and statistical inference techniques acquired in ECO 222. Topics covered include: Generalized least squares method; regression analysis for time series data and panel data; instrumental variable and two-stage least squares estimation; binary dependent variable models and simultaneous equation models. Emphasis is given to the application of theoretical concepts on practical economic issues through the extensive use of computer-based exercises in Stata. A major feature of this course is the development of the applied econometrics skills required for the successful completion of the undergraduate thesis.

**ECO 261 ADVANCED MICROECONOMICS (7 ECTS)**

**(Prerequisite: ECO 211)**

The course begins with the analysis of markets in which there is not perfect competition. Monopoly market are analysed, focusing on the basic problems of price discrimination. Then, it covers the basic models of oligopoly (Cournot, Bertrand, Stackelberg) and provides an introduction to product differentiation. The basic concepts of general equilibrium are also presented, limited to problems of pure exchange. Subsequently, it provides an extensive introduction to game theory, covering static and dynamic games of complete information and repeated games. Finally, it covers problems of asymmetric information, providing a detailed analysis of adverse selection, moral hazard and signalling.

**ECO 262 ADVANCED IN MACROECONOMICS (7 ECTS)**

**(Prerequisite: ECO 221)**

The course provides students with a structured approach to selected topics of modern macroeconomic theory. The macroeconomic models that will be presented and analyzed will typically be based on the microeconomic principles of rationality and individual optimization. Particular emphasis will be placed on general equilibrium theory within competitive markets and the theory of exogenous as well as endogenous economic growth. The sub-topics to be covered include the study of macroeconomic models that incorporate simple forms of heterogeneity, such us the OLG model, and a discussion of the concept of imperfect information and its importance for the macroeconomy.

**ECO 263 ECONOMETRICS METHODS (7 ECTS)**

**(Prerequisite: ECO 222)**

Provide students a deeper theoretical understanding of modern econometric techniques, statistical inference and obtain sufficient technical background for following more specialized topics in econometrics such time series econometrics, financial econometrics and micro-econometrics. The course covers the following tropics: The linear model in matrix form. OLS estimation, small sample and large sample inference. GLS estimation and HAC correction. Endogeneity, systems of equations and IV/GIV methods. Introduction to panel models.

**ECO 305 INTERNATIONAL TRADE (6 ECTS)**

**(Prerequisite: ECO 211)**

The course examines the various theories and the issues associated with trade policy. It examines absolute and comparative advantage, specific factors, the Heckscher-Ohlin model and the impact of external economies of scale and imperfect completion on trade. It also analyses the various tools of trade policy, their impact on welfare as well as the political economy of trade. Finally, it examines trade policy in developing countries and trade agreements.

**ECO 306 INTERNATIONAL FINANCE (6 ECTS)**

**(Prerequisite: ECO 221)**

National income accounting and balance of payments. Foreign exchange market and exchange rate determination in the short run and long run. National income and exchange rate. Fixed exchange rates and foreign exchange intervention. International Monetary systems 1870-present. Macroeconomic policy and coordination under flexible exchange rates. Optimum currency areas and the European case. The global capital market and the developing countries, growth, crisis and reform.

**ECO 308 ECONOMIC DEVELOPMENT (6 ECTS)**

**(Prerequisite: ECO 221)**

This course provides an introduction to the study of the main economic problems faced by developing countries. Among the topics covered we present a broad picture of what characterizes underdeveloped economies, what are the potential causes underlying such underdevelopment, and discuss what policies can be adopted to improve the living conditions in these countries. We present a wide array of macro and microeconomic models together with relevant empirical evidence.

**ECO 309 ECONOMIC GROWTH ****(6 ECTS)**

**(Prerequisite: ECO 221)**

The course starts with stylized facts in economic growth. Then, it examines the Solow growth model and its empirical applications. Then it focuses on models of endogenous growth including one-sector and two sectors of endogenous growth models such as the AK model, models of learning by doing, the Uzawa-Lucas model, models of technological change, models of Schumpeterian growth, directed technological change, and expanding variety models. Furthermore, it covers a number of topics in diffusion of technology, government sector and public spending, trade and growth, economic development and economic growth including the role of institutions. Finally, we also consider the topic of the origin of sustained economic growth.

**ECO 310 MONEY, BANKING AND FINANC****IAL MARKETS**** (6 ECTS)**

**(Prerequisite: ECO 221)**

This course studies financial markets (shares, bonds, foreign exchange) and financial institutions (banks, insurance companies, mutual funds). Some of the issues to be addressed include: the Role and Importance of Financial Market, Money, Meaning and Functions. Interest Rates and Yields. Determination of Interest Rates. Market Shares and Determinants of Shares Price. Functions Financial Institutions. Banking and Non-Banking Financial Institutions.

**ECO 311 LABOUR ECONOMICS (6 ECTS)**

**(Prerequisite: ECO 211)**

This course is devoted to the study of key issues of labour economics. First, the course covers the behavior of workers and employers in the labor market, and how their decisions affect labor supply and demand, employment, and wages. The course then examines various key topics, including unemployment, wage differences across workers, human capital and returns to education, labor market discrimination, compensating differentials, labor mobility, wage inequality, unions, and labor market policy. Throughout the course, relevant case studies and empirical evidence from various countries are discussed.

**ECO 312 INDUSTRIAL ORGANISATION (6 ECTS)**

**(Prerequisite: ECO 211)**

Industrial organization is the branch of economics that studies imperfectly competitive markets. The course will analyze the basic theoretical models of competition in oligopolistic markets with homogeneous or differentiated products, under price or quantity competition, and in the presence of price leadership and capacity constraints. The models will provide the toolbox for the analysis of topics such as the relationship between technology and market structure, collusion and cartels, predatory behavior and entry deterrence, and auctions.

**ECO 313 PUBLIC ECONOMICS (6 ECTS)**

**(Prerequisite: ECO 211)**

This course is an introduction of the microeconomics of the public sector. Initially, it examines the circumstances under which an economy without public sector achieves efficient allocation of resources. Subsequently it examines the problems that arise due to public goods, externalities and incomplete information and examines the means through which the government can intervene to lead to a more efficient allocation of resources. Finally, it examines the impact the public expenditure and taxation on the supply of factors of production, the efficient allocation of resources and the equitable distribution of income.

**ECO 315 INTERNATIONAL TAXATION AND NATIONAL POLICY (6 ECTS)**

**(Prerequisite: ECO 211)**

This course presents the stylized facts and concepts and outlines the main issues of international taxation and the implications for the international movements of goods and capital. The first part of the course introduces students to basic taxation concepts and describes the principles of direct and indirect optimal taxation in a closed economy. The second part starts with how the optical tax rules are modified in an open economy and considers how national tax policies affect the allocation of capital in an international context, and considers issues of international tax competition and harmonization, the behaviour of multinational firms and the international allocation of savings, investment and production.

**ECO 316 ECONOMICS OF THE EUROPEAN UNION (6 ECTS)**

**(Prerequisite: ECO 111)**

This course begins with a historical reflection on the need for a post-World War II union, the efforts to unify Europe as well as its enlargement. It examines the structure, functioning, institutions and competences of the European Union, such as the European Parliament, the Council of the European Parliament and the Court of Auditors. It then uses micro- and macro-economic models to examine issues such as: economic integration, customs unions and the common market, economic development, free movement of labour and capital. Additional topics cover the common agricultural policy, economics of comparative advantage and specialization, unemployment, economic geography and regional policies.

**ECO 317 TOPICS IN EUROPEAN ECONOMIC INTEGRATION (6 ECTS)**

**(Prerequisite: ECO 221)**

The course’s goal is to understand the role of the euro, banking union and fiscal union for the economies that comprise the Eurozone. Moreover, to understand the proximate causes of the European Crisis.

The course examines various topics such as:

Similarities and differences between the Gold Standard and the Euro, Exchange Rate Regimes, Optimum Currency Areas, EMS, EMU, the Euro, Banks, and Banking Union, Fiscal Policy, the Stability Pact and Fiscal Union, Assessing Integration: Price level convergence within the Eurozone. The European (Fiscal) Crisis: (1) relation to the Financial Crisis (2) relation to structural problems of the economy (3) the role of overconsumption, budget deficits, trade deficits, and long-term Growth.

**ECO320 HISTORY OF ECONOMIC THOUGHT (6 ECTS)**

The course describes the evolution of economic thought from antiquity to today. It focuses on economic ideas rather than general theories of economic systems, and it emphasizes the link between economic thought and other historical and social phenomena. The course can be divided into three units. The first unit seeks the origins of economic ideas in the work of the ancients, the scholastics, the mercantilists and the physiocrats. The second unit focuses on the analysis of the market economy by the classical economists, and its critique by Marx and others. The third unit examines various economic currents of the 20th century (institutionalists, Keynesianism, Austrians, monetarism, etc.) and concludes with an overview of the state of economic thought today. The course is open to a general audience and does not require extensive knowledge of economic theory.

**ECO324 ****Introduction to Political Economy and Public Policy 6****ECTS)**

**(Prerequisite: ECO 211)**

This course is designed to provide students with an introduction to the economic approach to politics, also known as positive political theory or rational choice theory. Political economy seeks to understand and explain policy outcomes and political behaviour in an environment where political actors are rational and goal oriented. The course will focus on models of politics that build upon formal reasoning and mathematical expressions. Political outcomes are then explained by the interaction between these actors within the institutional particularities of their environment.

**ECO 327 ENVIRONMENTAL ECONOMICS ****(6 ECTS)**

**(Prerequisite: ECO 211)**

This course is designed to provide students with an introduction to the economic approach to politics, also known as positive political theory or rational choice theory. Political economy seeks to understand and explain policy outcomes and political behaviour in an environment where political actors are rational and goal oriented. The course will focus on models of politics that build upon formal reasoning and mathematical expressions. Political outcomes are then explained by the interaction between these actors within the institutional particularities of their environment.

**ECO 331 PRODUCTIVITY AND TECHNOLOGY (6 ECTS)**

**(Prerequisite: ECO 211)**

The objective of the course is the presentation of different methods measuring Productivity and Technological change. It requires knowledge of producer theory and basic econometrics.

**ECO 355 TOPICS IN INTERNATIONAL ECONOMICS (6 ECTS)**

**(Prerequisite: ECO 211)**

The class examines the International Economy and the environment in which Multinational Corporations operate. It analyzes the purpose and rules of the World Trade Organization, as well as other international organizations. Regional Trade Agreements, like the European Union and NAFTA, are also examined. In addition, the class analyzes Foreign Exchange Markets and the different strategies Multinational Corporations use to take advantage of the opportunities they are faced with.

**ECO 362 STRUCTURE AND STRATEGY OF FIRMS (6 ECTS)**

**(Prerequisite: ECO 312)**

The course seeks to develop students’ understanding of firm organization and strategic decision making. The first part of the course will focus on structure. It will review the main theories of the firm, examining questions such as: what is a firm, what are its objectives, what factors determine its scale and scope? Topics in this part include bilateral monopoly, bargaining and principal-agent relationships. The second part will focus on firms’ strategic choices in various markets. Examples include mergers and acquisitions, vertical integration, pricing strategies, quality choice, tying and bundling, research and development, and standard setting.

**ECO 363 ****REGULATION THEORY AND POLICY**** (6 ECTS)**

**(Prerequisite: ECO 211)**

The course analyzes the motivation, methods and implications of state intervention in the economy. What is the purpose of state intervention? What tools do governments have at their disposal? What are the consequences – intended or unintended – of government intervention? The course examines the regulation of natural monopolies, methods of granting monopoly rights, and legal restrictions to market entry. The energy and telecommunications markets are examined as case studies. The role of competition policy – which is the broader policy that aims to promote competition in markets – in relation to regulation is also examined.

**ECO 370 TOPICS IN FINANCIAL AND MONETARY ECONOMICS (6 ECTS)**

**(Prerequisite: ECO 111, ECO 221)**

The aim of the course is to understand the notion of efficient markets and no arbitrage opportunities, understand the alternative ways of financing a corporation, understand the role of shareholders, creditors, and management of a firm. Evaluate investment opportunities using alternative investment criteria, apply stock and bond valuation methods. Understand the risk-return trade-off in choosing an optimal portfolio of stocks, understand how capital structure changes the value of the firm, predict exchange rate movements based on interest-rate differentials.

**ECO 391 PLACEMENT IN ORGANISATIONS I (6 ECTS)**

*(Prerequisite: Successful completion of the compulsory courses of the second year of the academic studies and at least 120 ECTS of the corresponding academic program that the student attends. Required: Selection is based on the academic achievement of the student in the previous semesters with minimum grade point average 6 /10 and the criteria set by the firm/organisation.)*

The objective of the placement in organisations is to enable students to acquire practical experience and applied knowledge in sectors related to economics. Also, students will have the opportunity to develop communication and other skills.

**ECO 392 PLACEMENT IN ORGANISATIONS II (6 ECTS)**

*(Prerequisite: Successful completion of the compulsory courses of the second year of the academic studies and at least 120 ECTS of the corresponding academic program that the student attends. Required: Selection is based on the academic achievement of the student in the previous semesters with minimum grade point average 6 /10 and the criteria set by the firm/organisation.)*

The objective of the placement in organisations is to enable students to acquire practical experience and applied knowledge in sectors related to economics. Also, students will have the opportunity to develop communication and other skills.

**ECO 397 RESEARCH METHODS IN APPLIED ECONOMICS Ι (6 ECTS)**

**(Prerequisite: ECO 211, ECO 212, ECO 221)**

The course is an introduction to the fundamental tools necessary for research in economics or for work as a professional economist. The course covers different aspects of the research toolbox of modern economists such as Mathematics and Statistics, Academic Skills for Economists and Empirical Econometric Skills. The aim of these modules is to introduce or review the tools students need in order to master the material presented in the programme on the one hand and to enable progress towards independent research and for work as a professional economist on the other hand.

**ECO 398 TOPICS ON THE CYPRUS ECONOMY ****(6 ECTS)**

**(Prerequisite: ECO 211, ECO 221)**

The aim of the course is the systematic and in depth analysis of the Cypriot economy. The course is designed to combine the theory with practice by showing how economic principles can illuminate the workings of the Cypriot economy. Initially the course makes a historical review of the economic developments in Cyprus since 1960. Afterwards, it covers topics which concern the monetary policy, financial system, fiscal policy and social policy. Particular emphasis is given to current European issues. The course also examines the main problems and challenges that the economy is facing and policies that can be implemented.

**ECO 415** **GAME THEORY (6 ECTS)**

**(Prerequisite: ECO 251 or 261)**

The aim of the course is to present and analyze the basic tools of Game Theory. Game Theory deals with decision making of strategically interdependent agents. The course will present and analyze equilibrium concepts in static and dynamic games under complete and incomplete information. Moreover, we will apply these tools in problems of economics, such as oligopolies, negotiations, auctions etc.

**ECO ****473 ****APPLIED ECONOMETRICS (6 ECTS)**

**(Prerequisite: ECO 253 or 263)**

Brief overview of the classical linear regression model. Econometric models for cross-section data and space-series data. Economic applications and the use of specialized econometric software are emphasized. Topics will be drawn from: (1) Theory of production functions (2) Models of multiple equations, (3) Models of limited dependent variables, (4) elements of spatial analysis and models for macroeconomic data.

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** ****ECO 497 RESEARCH METHODS IN APPLIED ECONOMICS II (6 ECTS)**

**(Prerequisite: ECO 397)**

The course is the continuation of ECO397 and provides a deeper analysis of the fundamental tools necessary for research in economics or for work as a professional economist. The course covers different aspects of the research toolbox of modern economists such as Mathematics and Statistics, Academic Skills for Economists and Empirical Econometric Skills. The aim is to introduce or review the tools students need in order to master the material presented in the programme on the one hand and to enable progress towards independent research and for work as a professional economist on the other hand.

**ECO 501 MICROECONOMIC ANALYSIS I (7.5 ECTS)**

This course covers microeconomic theory at an advanced level. The course provides detailed knowledge of the neoclassical theory of consumer and producer behavior. It also, develops the basic principles of game theory under conditions of both complete and incomplete information and applies these to the analysis of problems such as collusion, bargaining, auctions, moral hazard, and adverse selection.

**ECO 502 MACROECONOMIC ANALYSIS I (7.5 ECTS)**

The course will introduce students to the foundations and methodology of dynamic macroeconomic theory and main classes of macroeconomic models, with a review of useful mathematical tools such as dynamic programming and optimal control as well as relevant empirical methods. The objective is to deepen the understanding of aggregate fluctuations, as well as the role of economic policy.

**ECO 503 STATISTICS AND ECONOMETRICS I (7.5 ECTS)**

The aim of this course is to provide technical background in statistical distributional theory, inference and asymptotic analysis required for econometrics analysis. These techniques are applied in details for the finite and large sample analysis of the OLS and ML estimators. The technical background provided in this course enables students to follow in depth subsequently more specialized methods in econometrics such as IV, GMM as well as specialized courses in time series econometrics, financial econometrics and panel data.

**ECO 551 MICROECONOMIC ANALYSIS II (7.5 ECTS)**

**(Prerequisite: ECO 501)**

The course is divided into three parts. The first part studies individual behavior in the presence of uncertainty. The second part serves as an introduction to general equilibrium theory and its extensions, and discusses the theorems of welfare economics. The analysis covers both pure exchange economies and economies in which production is available and introduces the notion of the core of an economy. The third part focuses on problems of asymmetric information. First, there is a brief introduction of the basics of mechanism design, focusing mainly on the comprehension of the nature of principal-agent models and the revelation principle. This is followed by detailed analysis of adverse selection (with applications both on price discrimination and insurance markets), signalling (including the standard models of education as signalling mechanism and cheap talk), and moral hazard.

**ECO 552 MACROECONOMIC ANALYSIS II (7.5 ECTS)**

**(Prerequisite: ECO 502)**

This course deals with the micro foundations of macroeconomics and with short run policy. The micro foundations include consumption, investment, labour supply and labour demand. Short run policy is about monetary and fiscal policy rules, what their basis is and what can they achieve. The main technique used in the course is dynamic optimisation.

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**ECO 553 STATISTICS AND ECONOMETRICS II (7.5 ECTS)**

**(Prerequisite: ECO 503)**

Eco 653 is a PhD course in statistics and econometrics. The course assumes a background in probability theory and statistical inference and some knowledge of linear regression. The course begins with the linear regression model and discusses issues of model selection and misspecification. The students master asymptotic theory (estimation and hypothesis testing) for both LS and MLE. Then the course focuses on bootstrap, GMM, and the problem of endogeneity. Finally, the course provides a brief introduction to time series analysis, limited dependent variable models, and panel models. Special attention will be given to applications using real data. For this purpose, we will use the econometric packages of GAUSS or MATLAB and STATA.

**ECO 601 Microeconomic Analysis I (7.5 ECTS)**

Rigorous study of market structures (Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly), Theory of Distribution under Perfect and Imperfect Competition, Capital Theory and introduction on general equilibrium and welfare economics. Depending on the course duration, the course will proceed with a rigorous treatment of production functions, cost functions and duality.

**ECO 602 Macroeconomic Analysis I (7.5 ECTS)**

The course will introduce students to the foundations and methodology of dynamic macroeconomic theory and main classes of macroeconomic models, with a review of useful mathematical tools such as dynamic programming and optimal control as well as relevant empirical methods. The objective is to deepen the understanding of aggregate fluctuations, as well as the role of economic policy.

**ECO 603 Statistics and Econometrics I (7.5 ECTS)**

Probability Theory. Random Sample. Regression, Prediction and related notions. The Linear (Normal) Regression Model: Estimation, Hypothesis Testing, Misspecification Testing. Generalized Linear Regression. Elements of Time-Series. Heteroskedasticity and Autocorrelation. Dynamic Linear Regression. Nonlinear Regression. Multivariate Regression Systems. The Simultaneous-Equation Model. Generalized Method of Moments. Limited Dependent Variables. Panel Data Models.

**ECO 604 Analytical Methods in Economics (7.5 ECTS)**

Economic Modelling and Equilibrium Analysis. Linear Models and Matrix Algebra. Comparative Static Analysis. Constrained and Unconstrained Optimization Methods. Dynamic Methods in Continuous and Discrete Time.

**ECO 605 International Trade (7.5 ECTS)**

The course analyzes the traditional trade theory as well as the “new trade theory.” The first part of the course covers absolute and comparative advantage as well as the Heckscher-Ohlin model. The second part examines optimal tariffs in situations where countries have market power and strategically interact with each other. These methods are used to examine economic integration at both the regional and global levels.

**ECO 606 International Finance (7.5 ECTS)**

Introduction to the main open questions of International Macroeconomics. Introduction to basic open economy inter-temporal models and the determinants of the current account. Review of the properties of the international business cycle with the goal of understanding international co-movement of macroeconomic variables. A look at international relative prices with the goal of understanding the degree of segmentation of markets across countries. A review of the main factors and mechanisms driving economic crises with a focus on the role of and inter-relation between international capital flows, credit expansions, real estate bubbles, overconsumption and the sovereign, and a look at macro-prudential and other policies that can be used to limit the frequency and consequences of such crises.

**ECO 610 Money, Banking and Financial Economics (7.5 ECTS)**

This course examines financial markets and institutions. We analyze recent research developments in financial markets (such as bonds, stocks and foreign exchange) and financial institutions (banks, insurance companies, mutual funds, etc.). Topics to be covered will be chosen from the following: financial markets, financial institutions, the financial system, prices and exchange rates, money and bond markets, interest rates, inflation, stocks, bonds, portfolio choice, European economic convergence, and others.

**ECO 611 Labour Economics (7.5 ECTS)**

This course begins by examining static and dynamic theories of the demand for and supply of labour as

well as their interaction in the context of the competitive paradigm. Emphasis is placed on econometric methods for the empirical implementation of these models. Studies of wage outcomes and apparent deviations from the competitive norm are then considered. A number of non-competitive labour market models are reviewed as well as empirical attempts to discriminate amongst them. The course ends with an examination of issues relating to possible failure of the labour market to clear, e.g., wage rigidity and unemployment.

**ECO 612 Industrial Organization and Policy (7.5 ECTS)**

Industrial Organzation is concerned with the study of imperfectly competitive markets. The course aims to develop an understanding of competitive interaction in such markets; to introduce the empirical methods used to analyze them; and to outline the basic policy principles that govern their operation. Indicative topics include estimation of supply and demand, estimation of cost and production functions, monopoly regulation, oligopoly models, collusion and cartels, mergers, product differentiation, barriers to entry.

**ECO 613 Public Economics (7.5 ECTS)**

This course examines the effects of fiscal policy on the economy through taxation and public expenditure from both positive and normative points of view. Both positive and normative aspects of public policy are examined in relation to issues like the role of the state, the taxation of goods and services, the effect of taxation on labour supply and savings, the taxation of company profits and its effects on corporate finance and investment and the incidence of taxes. Also examined from the public expenditure point of view are topics on market imperfection such as public goods, externalities and social insurance. In several topics reference is made to the public sector in Cyprus and conclusions drawn from empirical analysis are presented.

**ECO 644 The Economics of Firm Financing (7.5 ECTS)**

The course examines among other topics the valuation of a firm’s financial condition, bond, stock and option valuation, the trade-off between risk and return, valuation of investment projects, creating value for shareholders, global financial markets and their impact on raising long-term capital, establishing a target capital structure and dividend policy.

**ECO 651 Microeconomic Analysis II (7.5 ECTS)**

This course continues the analysis of the principles of Microeconomic Theory and is divided into two parts. The first part will develop the basic principles of Game Theory under conditions of both complete and incomplete information and will apply these to the analysis of problems such as collusion, bargaining, auctions, moral hazard, and adverse selection. The second part will serve as an introduction to general equilibrium theory and its extensions, and will discuss the general theorems of welfare economics.

**ECO 652 Macroeconomic Analysis II (7.5 ECTS)**

Analytical approach to basic macroeconomic models with finite and infinite horizons in discrete and continuous time. Introduction to Real Business Cycle and International Real Business Cycle Models. Endogenous Growth Theory with emphasis on R&D-based Models and International Technology Diffusion.

**ECO 653 Statistics and Econometrics II (7.5 ECTS)**

Basics of Probability and Statistics, the bootstrap, generalized method of moments, endogeneity, Simultaneous Equation Models, Limited Dependent Variables, Panel Data Models, Nonparametric Density Estimation, Nonparametric Regression Estimation.

**ECO 661 Microeconomic Analysis (7.5 ECTS)**

The course will begin with a review of the classic theories of consumer and producer behavior and proceed to the description of basic market structures and the analysis of factor markets. It will then lay out the basic principles of game theory under conditions of both complete and incomplete information. These will be the tools for the analysis of topics in modern microeconomic theory such as bargaining auctions, moral hazard and adverse selection.

**ECO 662 Macroeconomic Analysis (7.5 ECTS)**

The primary objective of this course is to help students understand the functioning of the macroeconomy as the aggregate outcome of the actions of heterogeneous agents. The course presents and analyzes macroeconomic models that can help us understand the behaviour of macroeconomic variables and their responses to policy shocks. The course includes an in-depth discussion of a number of concepts and topics in the area of macroeconomics, including economic expectations and monetary policy.

**ECO 663 Econometrics (7.5 ECTS)**

Probability Theory. Random Sample. Regression, Prediction and related notions. The Linear (Normal) Regression Model: Estimation, Hypothesis Testing, Misspecification Testing. Generalized Linear Regression. Elements of Time-Series. Heteroskedasticity and Autocorrelation. Dynamic Linear Regression. Nonlinear Regression. Multivariate Regression Systems. The Simultaneous-Equation Model. Generalized Method of Moments. Limited Dependent Variables. Panel Data Models.

**ECO 664 Data Analysis in Economics and Finance (7.5 ECTS)**

The purpose of this course is enabling students to collect economic data from databases and subsequently be able to analyze them with aid of specialized statistical and econometric software.

**ECO 673 Applied Microeconometrics (7.5 ECTS)**

Brief review of the classical linear regression model. Econometric models for cross-section data and time-series data. Economic applications and the use of specialized econometric software are emphasized. Topics will be drawn from: 1) models of multiple equations, 2) models of limited dependent variables, 3) elements of time-series analysis and models for macro and financial data.

**ECO 680 Applied Financial Econometrics (7.5 ECTS)**

Financial Time Series and their characteristics; Conditional Heteroskedastic Models; Nonlinear Models and their applications; Continuous-time Models and their applications; Risk Management, Extreme Values, Quantile Estimation and Value at Risk; Estimation and tests of Asset Pricing Models, Multivariate Volatility Models; High-frequency Data Analysis and Market Microstructure.

**ECO 688 Current Topics in Economic Research I (7.5 ECTS)**

The class is divided into two parts. In the first part the most important topics in current economic research will be presented and analyzed. In the second part students will choose a field to focus on and present and systematically analyze the relevant literature and produce the relevant reports.

**ECO 788 Current Topics in Economic Research II (7.5 ECTS)**

The class is divided into two parts. In the first part the most important topics in current economic research will be presented and analyzed. In the second part students will choose a field to focus on and present and systematically analyze the relevant literature and produce the relevant reports.

MAS |

**MAS 001 Mathematics I (6 ECTS)**

The aim of the course is to understand calculus and to use basic methods to solve real problems.

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**MAS 061 STATISTICAL ANALYSIS I (6 ECTS)**

The aim of the course is the students to obtain familiarity with the basic concepts of statistical analysis.

*Course content:* Descriptive Statistics, Probability (basic notions, conditional probability Bayes rule} Combinatorics, distributions, Central limit theorem, statistics, decision theory (confidence intervals, hypothesis testing, comparison between populations), etc.

**MAS 101 Calculus I (8 ECTS)**

Properties of real numbers. The supremum and infimum of a set and their basic properties. Sequences, limits of sequences, properties of convergent sequences, subsequences, basic theorems, nested intervals Property (briefly covered). Functions, limits of functions, sequential definition of limits. Continuous functions, intermediate value Theorem, extreme value Theorem, continuity of inverse functions, uniform continuity. Derivatives, basic theorems, derivatives of inverse functions, graphs of functions, Rolle’s Theorem, Cauchy’s mean value Theorem, l’ Hopital’s rule.

**MAS 102 Calculus II (8 ECTS)**

Partitions, upper and lower sums, Riemann integral on a closed interval. Basic existence theorems of integrals. Computation of volumes and areas. The Fundamental Theorems of Calculus, generalised integrals. Logarithmic and exponential functions. Basic methods of integration, integration by parts, substitution, induction formulas, integration of rational functions. Taylor’s formula, computation of Taylor’s formula for various basic functions. Approximation of smooth functions by polynomials, the irrationality of e. Series, comparison test, Cauchy’s criterion, ratio test, nth root test, integral test, absolutely and conditionally convergent series, Leibniz’s Theorem for alternating series, Abel’s and Dirichlet’s criteria, products of series.

**MAS 121 Linear Algebra I (8 ECTS)**

Numbers, equivalence relations. Groups, Examples (symmetric, cyclic, dihedral). Isomorphism. Rings and Fields. Examples. Vector spaces, basis, dimension. Linear maps. Matrices and linear maps. Rank, change of basis matrix. Determinant. Linear systems.

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**MAS 122 Linear Algebra II (8 ECTS)**

Polynomial Ring. Eigen values, eigen vectors. Diagonalisation and applications. Theorem of Cayley – Hamilton, minimal polynomial. Generalised eigen spaces, nilpotent endomorphisms, Jordan canonical form. Inner product spaces (Gram – Schmidt). Orthogonal, self dual endomorphisms. Bilinear, quadratic forms.

**MAS 131 Basic Mathematics (7 ECTS)**

Methods and applications of differentiation. Methods of integration and applications. Improper Integrals. Power series. Fourierseries. Elements of analytic geometry on the place and in space. Functions and surfaces. Polar coordinates. Partial derivatives and Lagrange multipliers. Multiple integration and Jacobien.

**MAS 132 - Basic Mathematics II ****(7 ECTS)**

Analytic Geometry in R2: Vectors, inner product, length, distance between points. Equation for a line, tangent, vertical line to a curve. Circles, ellipses, parabolas, hyperbolas. Analytic Geometry in R3: Vectors, algebraic, geometric properties. Inner product, length, distance between points. Equation for a line (parametric-vector, cartesian format), distance of a point to a line. Regions in Euclidean space. Functions: Curves in the plane, regions between curves, curve intersections. Graphs of functions in R3, analytically and implicitly defined. Solids bounded by surfaces and intersections of surfaces. Transformations: Linear transforms, linear independence and geometric interpretation of determinant. Geometric transforms (translation, rotation, reflection, orthogonal transforms). Polar, cylindrical and spherical coordinates and regions defined in these coordinates. Curves: Curve parametrization in R2 and R3. Velocity, acceleration and tangent line. Arc length. Differentiation: Partial derivatives of multivariable functions. Tangent plane and linear approximation. Gradient and directional derivative. Integration: Double integrals over rectangles and general regions of R2.

**MAS 133 - Sets and Algebraic Structures ****(7 ECTS)**

Set Theory: Sets, subsets. Set operations, complement, De Morgan’s laws, power set. Cartesian product. Relations, equivalence relations (equivalence classes modulo m, projective space, rational numbers). Venn diagrams. Elements of propositional logic (quantifiers, negation, truth diagrams). Functions: Image of a set, inverse image. Inverse function. Composition of functions, graphs. Sets of functions. Countable sets, uncountable sets. Diagonal procedure. Reductio ad absurdum and Mathematical Induction. Well Ordering Principle and Principle of Mathematical Induction. Examples from Number Theory and other areas of mathematics for understanding the procedure for proving a statement using these methods. Number Theory: Divisibility. Greatest common factor and least common multiple. Euclidean algorithm. Fundamental Theorem of Arithmetic. Applications to polynomials. Introduction to Algebraic Structures: Binary operations. Closure of operations. Properties of closed operations. Examples (composition of functions, matrix multiplication, inverse, congruence classes). Subgroups, groups (examples from cyclic groups (complex unit roots), symmetric group). The group (Ζn , +) as a quotient. Rings, fields and solving first order equations ax = b.

**MAS 191 - Mathematics with computers ****(8 ECTS)**

MATLAB’s environment. MATLAB functions. For, while and if loops. Graphics in two and three dimensions. Programming. Polynomials. Reading from and writing in files. Computer arithmetic and error propagation. Symbolic computing. Special topics and applications (solution of nonlinear algebraic equations and linear systems, eigenvalue problems, numerical integration, ordinary differential equations).

**MAS 202 Multivariate Integral Calculus (7 ECTS)**

Integrals of continuous functions with compact support (on ), step functions. Theorem of transformation of variables (for linear and -invertible transformations). Integrable functions and sets, properties. Computation of volumes, Fubini’s Theorem, Cavalieri’s Principle (i.e. sphere, cylinder, cone). Convergence theorems (interchangeability of limit and integral). Transformations theorems (without proof), applications. Parametrised surfaces, partition of unity. Surface and curve integrals (computation of area of surfaces). Differential forms, Stokes’ Theorem (Green, Gauss, Stokes), applications.

**MAS 203 Ordinary Differential Equations (7 ECTS)**

Basic notions. Solution techniques for first-order equations and physical applications. Theorems of Existence and Uniqueness. Linear systems and exponential of matrices. Higher order linear equations. Method of power series: Smooth and singular solutions. Smooth dependence of solutions on parameters.

**MAS 261 Introduction to Probability (7 ECTS)**

Probability, random variables, distribution functions, independence, expected value, moment generating functions, random rectors, conditional distribution, conditional expected value, laws of large numbers, central limit theorem.

**MAS 262 Introduction to Statistics (7 ECTS)**

Statistics. Sufficiency and completeness. Exponential families of distributions. Unbiasedness, unbiased estimators. Cramer – Raoinequality. Method of moments, maximum likelihood estimators, confidence intervals, hypothesis testing.

**MAS 301 Real Analysis (8 ECTS)**

The real number system R, the least upper bound property and its consequences. Countable and uncountable sets. The Cantorternary set. Introductory theory of metric spaces. The metric spaces R and Rn. Compact sets. Heine – Borel Theorem, Bolzano –Weierstrass Theorem. Sequences of real numbers, limit superior and inferior of a sequence. Cauchy sequences, series of real numbers. Complete metric spaces, Cantor intersection Theorem, the fixed point Theorem and applications. Continuous functions. Topological characterisation of continuity. Continuity and compactness. Uniform continuity, Lipschitz functions. Sequences and series of functions. Pointwise convergence, uniform convergence. Uniform convergence and continuity, uniform convergence and integration, uniform convergence and differentiation. The space C ([a,b]), the topology of uniform convergence.

**MAS 302 Complex Analysis I (7 ECTS)**

Complex numbers, Basic complex functions, Cauchy- Riemann equations, holomorphic functions, harmonic functions. (Exponential, trigonometric and logarithmic functions). Contontintegration, Cauchy’s theorem, Cauchy’s integral formula. Morera’s theorem, Liouville’s theorem, the fundamental theorem of algebra. The Maximum modulus theorem. Taylor series, Laurent series, calculus of residues. Conformal mapping, linear fractional transformation.

**MAS 303 Partial Differential Equations (7 ECTS)**

Separation of variables – Fourier series. First order Partial Differential Equations. Nonlinear first order Partial Differential Equations. Linear second order Partial Differential Equations. Elliptic, Parabolic and Hyperbolic Partial Differential Equations.

**MAS 304 Functional Analysis (7 ECTS)**

Metric spaces: Examples and elements of the theory of metric spaces. Banach spaces: Norm, dimension and compactness, bounded operators, linear functionals, dual space, the spaces lp,1≤ p ≤ ∞, Hilbert spaces: Inner products, orthogonal sums, orthonormal bases, the Riesz representation theorem, the adjoint operator, self – adjoint, unitary and normal operators. Fundamental theorems for Banach spaces: the Hahn–Banach theorem, reflexive spaces, the uniform boundedness theorem, weak and strong convergence, the open mapping and closed graph theorems. Applications: The fixed point theorem and its applications to the theory of linear, integral and differential equations, applications to the theory of approximation.

**MAS 321 Introduction to Algebra (7 ECTS)**

Basic properties of groups. Cayley’s theorem. Subgroup and Lagrange’s theorem. Normal subgroups and factor groups. First isomorphism theorem. Group actions. Basic properties of rings. Ideals. R – modules over principal ideal domain and the fundamental theorem of finitely generated abelian groups.

**MAS 331 Classical Differential Geometry (7 ECTS)**

Curves in (parametrisation, orientation, length). Curves in (normal field, curvature, Frenet frame). Isoperimetric inequality. Curves in (curvature, torsion, Frenet frame). Surfaces in : parametrisation, tangent plane, first and second fundamental form, curvature (Gaussian, mean), geometric interpretation of curvature, examples. Intrinsic geometry of surfaces (local isometry, Christoffel symbols, Theorema Egrerium of Gauss, vector fields, parallel transport, geodesics). Gauss-Bonnet Theorem.

**MAS 350 Stochastic Processes (7 ECTS)**

Basic concepts, continuous and discrete time Markov processes, birth and death processes, Poisson processes, introduction tomartingales, Brownian motion.

**MAS 361 Probability Theory (7 ECTS)**

Measure spaces and σ-algebras, stochastic independence, measurable functions and random variable, distribution functions, Lebesque integral and mean value, convergence of sequences of random variables, laws of large numbers, characteristic function, central limit theorem, conditional probability, conditional mean value

**MAS 362 Statistical Theory (7 ECTS)**

Stochastic convergence, asymptotic properties of moments timators and maximum likelihood estimators, asymptotic normality and efficiency, hypothesis testing, asymptotic properties and efficiency of tests.

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**MAS 371 Numerical Analysis II (7 ECTS)**

Preliminaries: Basic definitions and theorems of Linear Algebra –Lagrange and Hermite interpolation – Newton-Cotes quadrature rules. Vector and matrix norms: Basic definitions and properties –Induced matrix norms – Perturbed linear systems (perturbation analysis) – Condition of linear systems – Iterative refinement. Methods for eigenproblems: The Gershgorin theorems – The Rayleigh quotient – The power and inverse iteration methods –Similarity transformation methods (Givens and Householder for symmetric matrices – Basic forms of the LR and the QR algorithms) – Sturm sequence property for the eigen values of symmetric tri-diagonal matrices. Iterative methods for linear systems: General iterative methods – The methods of Jacobi, Gauss-Seidel and SOR – Convergence theorems – Asymptotic rate of convergence – Introduction to the theory for the optimum SOR relaxation parameter. Orthogonal polynomials and Gauss quadrature rules: Zeros of orthogonal polynomials – Three-termrecurrence relation – Legendre, Chebyshev, Laguerre, Hermite and Jacobi polynomials – Gauss quadrature rules (Legendre, Chebyshev, Laguerre, Hermite and Jacobi.)

**MAS 401 Measure Theory and Integration (7 ECTS)**

General revision: Sets, orderings, cardinality, metric spaces. Measures: Algebras and σ- algebras, additive and σ- additive measures, outer measures, Borel measures on the real line. Integration: measurable functions, integration of positive functions, integration of complex valued functions, modes of convergence, product measures, the n – dimensional Lebesgue integral, integration in polar coordinates, signed measures, the Radon – Nikodym theorem, complex measures, differentiation on Euclidean space, functions of bounded variation. LP Spaces: The basic theory, the dual of LP , the useful inequalities, the distribution function, weak – LP spaces, interpolation.

**MAS 402 Complex Analysis II (7 ECTS)**

Compactness and convergence in the space of analytic functions. The space of meromorphic functions. Riemann mapping theorem. Weierstrass factorization theorem. Analytic continuation (Schwarz reflection principle, Monodromy theorem). Entire functions. Elements of Geometric theory.

**MAS 418 Introduction to Fourier Analysis (7 ECTS)**

Inner product spaces, Hilbert spaces, orthogonal systems, completeness, periodic functions, trigonometric polynomials and series, Fourier series, point wise convergence of Fourier series. Dirichlet’s Theorem, Gibbs phenomenon, Parseval’s Theorem. Cesàro and Abel summability, Fejér’s Theorem, Poisson’s Theorem, the Riemann-Lebesgue Lemma. Convergence of special trigonometric series. Riemann’s local Theorem. Differentiation and integration of Fourier series. Fourier transform, inversion Theorem, Plancherel’s formula, convolution. Applications to PDEs.

**MAS 425 Theory of Groups (7 ECTS)**

Generators and relations. Homomorphism theorems. Direct and semi direct products. Group actions. Sylow theorems and p –groups. Simple groups. Composition series and the Jordan –Hölder theorem. Soluble and 124 nilpotent groups.

**MAS 431 Introduction to Differentiable Manifolds (7 ECTS)**

Manifolds, Tangent space. Partition of unity. Theorem of Sard. Vector fields, flows. Frobenius Theorem. Differential forms. Theorem of Stokes. DeRham Theorem.

**MAS 451 Linear Models I (8 ECTS)**

The Simple Linear Regression Model: Estimation, Confidence Intervals, Hypothesis Testing. The Multiple Linear Regression Model: Estimation, Confidence Intervals, Hypothesis Testing. Model Adequacy and Model Selection. Polynomial Regression.

**MAS 452 Linear Models II (7 ECTS)**

Analysis of variance with one or more fixed-effects, Analysis of variance with one or more random-effects, Analysis of covariance, Generalised linear models: estimation in (for example) logistic or logarithmic regression, asymptotic properties.

**MAS 456 Time Series (7 ECTS)**

Stationary processes, second order moments. ARMA and ARIMA processes. Maximum likelihood estimation, least squares estimators, Yule-Walker estimators. Prediction of stationary processes. Introduction to model selection.

CS |

**CS003 Computer Science and Information Systems (6 ECTS)**

Familiarization with the most basic concepts in Computer Science, Information Systems and Computer Systems. Touch with the current trends in the practice of Computer Science. Practical experience in the use of various software packages that are useful in the academic and professional worlds.

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**CS031 Introduction to Programming (7 ECTS)**

Introduction of the basic principles of programming with emphasis on structured programming, abstraction, and the design, implementation, checking and debugging of modular programs. Application of these principles using the FORTRAN 90/95 programming language.

*Content:* Computers and binary system. Hardware and software. Program development cycle, algorithms and flow diagrams. Alphabet and syntax of FORTRAN. Operators. Selection structures and loops. Arrays. Functions and subroutines. Recursion. Formatted input-output. Files. Dynamic data.

**CS032 Introduction to Computer Science & Information Systems (6 ECTS)**

*Objectives:* Programming is examined as a problem-solving method. In particular the course presents the fundamentals of algorithmic thought and the implementation thereof through a programming language. Also, a high level programming language is introduced. Upon completion of the course students are expected to be able to cast problem solutions into an algorithmic form, and will have obtained a basic exposure to a widely used programming language such as C or Python.

*Content:** *Introduction to the principles of programming with emphasis on structured programming, abstraction, and the design, implementation, checking and debugging of modular programs. Mastering the material through laboratory exercises in the C programming language.

LAN |

**LAN 100: General Advanced English (5 ECTS)**

This course is designed to guide students in building the required writing, vocabulary and grammar skills to function in an academic setting. Ongoing exposure to reading materials, as well as required vocabulary and grammar activities, assist students in enhancing their writing skills. Specific writing assignments guide students in understanding the academic writing process and academic writing conventions. Through close and critical reading of texts, students analyze ideas, question sources and communicate their thoughts in a clear and effective way. Students are also required to deliver an informative oral presentation. The learning outcomes, tasks and assessment of this course are aligned with the B2/C1 level of the Common European Framework of Reference for Languages (CEFR).

**LAN 101 Academic English (5 ECTS)**

In this course, students continue to develop their critical thinking and writing skills by working on extensive complete essays. They get acquainted with numerous elements of the argumentative essays, such as making claims, summarizing arguments, lending support, providing evidence and presenting counterarguments. The ongoing reading requirements also expose students to a variety of argumentative texts, which can assist them in composing their own essays. Academic vocabulary and grammar building, as well as listening and speaking, are also core components of the course which aim to further enhance student writing and oral skills. The learning outcomes, tasks and assessment of this course are aligned with the C1 level of the Common European Framework of Reference for Languages (CEFR).

**LAN 209 Advanced English for Global Communication (5 ECTS)**

This course is designed to encourage the practice of the English language in a social, academic, and professional context. The course focuses on advanced level readings, such as the United Nations Human Development Report and other topics based on authentic material, as well as listening, all of which serve as a catalyst for discussion and writing tasks, i.e. note-taking and summary writing. The course is task-based, aiming at students in achieving fluency and developing concise and coherent text production; students are required to work on a case study towards compiling a group opinion report and an individual podcast. Extensive vocabulary specific to Economics will be practiced throughout the course, in order to enhance students’ overall language competence. The learning outcomes, tasks and assessment of this course are aligned with the C1+ level of the Common European Framework of Reference for Languages (CEFR).

HIS |

**HIS 181 INTRODUCTION TO MODERN EUROPEAN HISTORY (1789-1918) (5 ECTS)**

This is an introductory survey of the history of Europe from the French Revolution to the end of the First World War. What is attempted is a "broad brush" survey of developments (mainly but not exclusively political and diplomatic) that have shaped the course of developments in Europe. Themes that are developed in the course include:

The French Revolution – Napoleonic Europe – The Congress of Vienna – The Revolutions of 1830 and 1848 – Napoleon III – The Franco-German War of 1870 and the unification of Germany – the scramble for empire – the origins of the first world war – the outbreak and the course of first world war – the Russian Revolution – the end of the war.

**HIS 285 EUROPE 1918-1945: FROM THE TREATY OF VERSAILLES TO THE FALL OF NAZI GERMANY (5 ECTS)**

The Treaty of Versailles – victors and vanquished – the new Europe. Revolutionary movements 1919-21. The 1920s: in search of a new balance. Cooperation and collective security. The League of Nations. The Great Economic Crisis and its consequences. Fascism and Nazism in Europe. Authoritarian models and their spread in the rest of Europe. Towards war: power politics and alliances. Dress rehearsal: The Spanish civil war. European Culture in the inter-war years. The Second World War.

SPS |

**SPS 152 Comparative Politics (6 ECTS)**

The course aims to introduce the basic approach of Comparative Politics and to examine basic concepts like the state and democracy as well as political, party and electoral systems. It applies these concepts to the case studies of the United Kingdom, France, Germany and the United States.

**SPS 153 International Relations (6 ECTS)**

This course introduces students to international relations and how it is being transformed under conditions of globalization. Specifically, it examines the evolution of the modern international society, the foundational events of international political history, the basic theories of international relations, the actors, structures and processes of the international system, as well as specific themes like international peace and security, international economy and development, human rights, and the international aspects of communication, culture and the environment.

**SPS 156 European Integration (6 ECTS)**

Introduction to European integration. The European Treaties. European law and finances. European institutions. Customs union. Common market. Economic and monetary union. Towards a political union in Europe. External policies. Conclusions.

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**SPS 266 Political System of the European Union (6 ECTS)**

On the whole, the course seeks to provide students with the necessary knowledge base that will enable them to become familiar with and understand the political system and institutional functioning of the European Union (EU). In particular, it analyzes the role of the key institutions of the Union, emphasizing on the interplay between institutions, external interventions by other actors and relations between member states and the Union. The main objective is to analyze the dynamics of integration both in the present context and over time. Special mention is also made on the economic governance system and how it’s been modified as a result of the ongoing economic crisis. The analysis of the EU’s political system will be undertaken with the support of analytical tools from European integration theories, public policy production theories and economic theories.

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**SPS 361 Cyprus and the EU (6 ECTS)**

The course aims to:

- familiarize (students) with the phenomenon of European integration through the study of a Southern European country’s pursuits;
- a critical analysis of Cypriot, "European" policy,
- a deeper comprehension of the Europeanization process through the case of Cyprus comprehend the key problematic posed by the contemporary Cypriot and European crisis.

**SPS 362 Policies of the European Union (6 ECTS)**

The course seeks to provide students with the necessary knowledge background that will allow them to become familiar with and understand the main policies of the European Union (EU).

The course examines the process of producing and implementing public policies in the context of the European construction.

LAW |

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**LAW 201 European Union Law I (6 ECTS) **

The module introduces the organizational structure of the EU and focuses on its legal system. Specifically, the emphasis is placed on the constitutional principles, that the Court of Justice has formulated, and on the peripheral and interconnected legal premises, that complement the procedural law of the Union. Finally, the approach is one that examines simultaneously the legal response of the national legal orders, on the basis of the analytical hypothesis stating that the evolution of EU law is the product of judicial dialogue.

**LAW 202 European Union Law II (6 ECTS) **

The module concentrates on the substantive law of the EU and on the four fundamental freedoms, with the emphasis being placed on the free movement of goods. In addition, the procedural law of the Union is fully explored and explained, as well as the different aspects of the jurisdiction of the Court of Justice.

**LAW 205 Public International Law I (6 ECTS) **

The course concentrates on the function, the basic concepts and fundamental principles of the international legal system, the means of international law-making and enforcement. It gives an overview of the traditional and contemporary theoretical approaches to international law, and examines the relationship between international law and domestic law in Cyprus and in other jurisdictions, the subjects of international law (states, international organizations, individuals, etc.) and its sources (treaties, custom, etc.). Using the Cyprus problem as a case study, the course emphasizes the fundamental principles of international law, most notably the prohibition on the use of force and its controversial exceptions.

**LAW 206 Public International Law II (6 ECTS) **

The module focuses on the territorial dimension of International Law, with an emphasis on the sovereignty of the Republic of Cyprus and its jurisdiction in maritime zones. It further examines the means and mechanisms of implementing and enforcing international law, the rules of state responsibility, as well as the United Nations and its multiple functions.