PhD Prospectus


The goal of the Ph.D. program in Economics is to train individuals to become high quality researchers in line with international standards. Our aim is that our graduates will be able to successfully compete for employment at research institutions, public policy organizations, and the private sector. The creation of a dynamic research community at the University of Cyprus will raise the level of economic research in Cyprus and will infuse public debate on economic policy with scientific methods and rigorous analysis.


Minimum requirements for admission to the Ph.D. program are: 1. Research oriented Master's degree in Economics. There are such programs in many Universities abroad. At the University of Cyprus the relevant program is the Master's in Economic Analysis. To be admitted into the PhD program students must have Very Good academic standing in the core courses (Microeconomics, Macroeconomics and Econometrics). Other academic or research criteria will also be considered. In exceptional cases the Graduate Committee can propose to the 11 Department Council to waive students out of the minimum grade requirements mentioned above. 2. Very good command of the English language. This can be certified by international examinations such as GCE, TOEFL or other examinations. Positions are offered every year for admission in September. Application materials are available at this site around February and the deadline for application in usually in April. For every successful applicant the Graduate Committee will prepare a schedule of necessary classes to be taken at the University of Cyprus. In this way it is ensured that all students have the necessary skills and knowledge to proceed to the research stage of their degree.


The PhD program is a four year program (eight semesters, 240 credit Ects). Three semesters are taken up by coursework and a minimum of five semesters are required for the research phase. A. Coursework - comprehensive examinations During the first year students take compulsory courses - Microeconomics, Macroeconomics and Econometrics. Students can take the exam only if they have at least 6.5/10 in the 6 core courses (Microeconomics, Macroeconomics and Econometrics) without failing any class. Students cannot repeat classes to improve grades. The Graduate Committee can, in exceptional circumstances, allow students who have failed one class to repeat it. The comprehensive exam is administered by a special Committee of three academics and will be on the research interests of each student. The special Committee is also responsible for the timing of the exam which has to take place no later than the end of the second year of studies. The Graduate Committee appoints the special Committee after a suggestion from the student's research advisor. If the student fails the exam he/she will have to repeat it the following semester (and no later than the end of the seventh semester of studies) as specified by the University of Cyprus rules. B. Specialization - Submission of research proposal During the second year of studies students take four field courses which give them the opportunity to acquire expertise in their area of interest. At this stage students are expected to discuss their research interests with faculty members, a process that will lead to a mutual agreement between the student and a faculty member who will become the student's main advisor. Under the guidance of his advisor the student will prepare and successfully defend his research proposal by the end of his third year of studies. The procedure for defending the research proposal is stipulated in University regulations. C. Research - Submission of dissertation 12 The student will conduct with his research under the guidance of his advisor. The procedure for defending the dissertation is stipulated in University regulations.


Credit may be given for up to one year's (60 Ects) worth of graduate level coursework taken at other universities. Students can not be exempt from the comprehensive examinations. It follows that completion of the Ph.D. requires that students spend at least three years at the University of Cyprus.

Each student must take at least 30 taught Ects from University of Cyprus courses. These Ects must be from elective courses (so ECO 601/602/603/651/652/653 are excluded).

Compulsory Courses

ECO 601 Microeconomic Analysis I (7,5 Ects)

ECO 602 Macroeconomic Analysis I (7,5 Ects)

ECO 603 Statistics and Econometrics I (7,5 Ects)

ECO 604 Analytical Methods in Economics (7,5 Ects)

ECO 651 Microeconomic Analysis II (ECO 601 - 7,5 Ects)

ECO 652 Macroeconomic Analysis II (ECO 602 - 7,5 Ects)

ECO 653 Statistics and Econometrics II (ECO 603 - 7,5 Ects)

ECO 688 Current Topics in Economic Research I (7,5 Ects)

ECO 788 Current Topics in Economic Research II (7,5 Ects) Elective courses

ECO 605 International Trade (7,5 Ects) ECO 606 International Finance (7,5 Ects)

ECO 610 Money, Banking and Financial Economics (7,5 Ects)

ECO 611 Labour Economics (7,5 Ects)

ECO 612 Industrial Organisation and Policy (7,5 Ects)

ECO 613 Public Economics (7,5 Ects)

ECO 641 Consumer Theory and Applications (7,5 Ects)

ECO 644 The Economics of Firm Financing (7,5 Ects)

ECO 673 Applied Micro Econometrics (7,5 Ects)

ECO 680 Applied Financial Econometrics (7,5 Ects)

A course deemed by the Department Board to have low attendance can be taught as a Reading Course or as an Independent Study (ECO 693 and ECO 696). A student cannot select more than two readings courses.

Students may replace up to two elective courses with undergraduate ones offered by other University Departments, following approval from the Department Board.


The Ph.D. Program Coordinator is responsible for overseeing and guiding Ph.D. students 13 from the time of admittance until they have found their main advisor. The advisor follows the student's progress and offers the necessary guidance.


Students who pass their comprehensive examinations have the following additional responsibilities in each semester of their research and writing stages:

a. They must attend the Departmental seminar series (at least the 80% of them).

b. They must present their research in this Departmental seminar series. The director of graduate studies will be responsible for overseeing doctoral students' completion of these requirements.

Defence of research proposal

By the end of the 6th Semester students are required to have prepared and successfully defended their research proposal. The committee examining the thesis proposal consists of three members proposed by the student's advisor and appointed by the Departmental Committee of Graduate Studies. The Committee is chaired by the student's advisor. One of the members of the Committee could be an academic from another department of the University of Cyprus or an academic from another university or research center. The student is expected to demonstrate ability to study a new subject in an original way and knowledge of the appropriate research methods. She/he is also expected to present some supportive preliminary results.

Defence of the thesis

The composition of the committee and the examination procedures are described by the University regulations for postgraduate studies. The candidate gives a brief oral summary and answers questions by the examiners on the content and results of the PhD thesis. The candidate is expected to defend the thesis, demonstrate its originality and justify deviations from previous results in the literature. The Committee convenes soon after the examination is completed and reaches a verdict to (i) accept the thesis as is; or (ii) accept the thesis subject to specified revisions; or (iii) reject the thesis. Under (ii) the advisor is responsible for supervising the implementation of the required revisions by the candidate and the committee need not reconvene. Under (iii) the committee can ask the candidate to resubmit a substantially improved thesis on the same or a related topic within a specified time period. A candidate wishing to resubmit a thesis on a topic judged by the committee to be in a different area needs permission from the Department Board and successful defence of a new research proposal to do so.

Financial support for doctoral students

The Department makes every effort to ensure that doctoral students can have enough income to allow them to leave independently. This is accomplished mainly through their 14 employment as research assistants. The Department also awards some grants, while students can also secure employment as research assistants.