GENERAL DESCRIPTION OF THE PROGRAMME

Α. OBJECT - PURPOSE

The Programme was established in 2003 (Government Gazette 1501B'/10.10.2003). Initially, it was intended to be the only means of enrolment in the Department's Doctoral Studies Programme.  It was subsequently amended in 2015 (Government Gazette 2380B'/6.11.2015), while it was "re-established" in 2018 (Government Gazette 2915B/19.7.2018), followed by the Regulation of Studies in the same year (Government Gazette 4620B/18.10.2018). The Programme of Graduate Studies (MPhil) “Economics” of the Department of Economics operates in accordance with the provisions of Law 4485/2017.  After the adoption of Law 4957B/2022 (Government Gazette 141A/21.7.2022), the relevant provisions were adapted to meet the requirements of the new law. The new Regulations are currently being drafted and are awaiting approval by the Senate of the University of Cyprus and the Ministry of Education as well as by the competent bodies for the certification of the quality of the Programme.

The rapid development in the field of economics has created increased demands on young scientists for theoretical and technical knowledge in order to cope with international competition.  On the other hand, however, the discipline itself has partly lost its relevance to the real problems of the economy and - although it is classified as a social science - (see Narrow Field 031 Social and behavioural sciences in ISCED-F) has moved away from its social dimension.  The dominance of a single 'orthodox' theory has deprived many researchers of the opportunity to think in an original and different way.  Young researchers need to have an excellent knowledge of the theoretical and technical background of the dominant theory, without losing the social dimension of their discipline and the knowledge of alternative schools of thought, which will enable them to be original and creative in their research. T

The objectives of the MPhil "Economics" of the Department of Economics of the University of Athens are:

• the creation of scientists who will produce new knowledge in economics
• the training of young researchers who will be able to produce and process this knowledge, reproducing the academic and research community
• graduates of the programme will have a knowledge of the major theoretical issues and the most important methods of analysis that are at the heart of contemporary economic thought
• an innovative approach that highlights all dimensions of economics and the theoretical differences between different schools of economic thought
• the ability of its graduates to relate theoretical approaches to economic and social policy issues
• the ability to carry out research at an international and interdisciplinary level
• the possibility to acquire a comprehensive and multifaceted knowledge that will enable them to function as senior and top managers in the private and public sector
• In particular, the MPhil “Economics”, with the level of knowledge it provides, gives the opportunity for the direct continuation of studies at the doctoral level which will allow them to work in higher education institutions and research centres in the public and private sector.

The programme provides the minimum knowledge necessary for graduates to be able to work independently as scientific economists, complementing the knowledge acquired from their degrees.

Learning outcomes

Based on the above, the MPhil “Economics” of the Department of Economics offers broad and in-depth training wide field of economic science and de facto specializations resulting from the elective courses. Further, an effort has been made to ensure that each course, Compulsory or Elective, is designed so that students in the Programme acquire knowledge and skills that enable them to:

1. Search, analyse and synthesise data and information, using both the necessary techniques and technologies, but based on their theoretical knowledge
2. Be able to work autonomously and productively
3. Develop creative, critical, original, and deductive thinking
4. Make decisions
5. Participate productively in teamwork and in an interdisciplinary/international environment
6. Apply their knowledge to problem-solving and turn theory into practice
7. Adapt to new situations
8. Generate new research ideas

The Programme is addressed to graduates mainly in economics with the aim of postgraduate studies towards a Diploma of Postgraduate Studies (M.Sc.) with the prospect of a doctoral thesis in economics.

The Programme of Graduate Studies “Economics” of the Department of Economics of the National and Kapodistrian University of Athens aims to create scientists who will produce new knowledge in economic science and to train new researchers who will be able to produce and process this knowledge, reproducing the academic and research community. The Programme provides the minimum knowledge necessary for graduates to be able to function as scientific economists, complementing the knowledge gained from their degree. For this reason, the Programme includes in its compulsory courses two semesters of advanced Microeconomic and Macroeconomic Theory as well as two semesters of Econometrics and Mathematics. However, in addition to mastering the theory and techniques of so-called orthodox economics, the Programme requires students to attend and pass three compulsory courses: “Economics as a Social Science” I & II and “History of Economic Thought”.  

It is intended that graduates of the programme should have a knowledge of the major theoretical issues and the most important methods of analysis that are at the heart of contemporary economic thought, as well as an innovative approach that highlights all the dimensions of economic science and the theoretical differences between different schools of economic thought, and the ability to relate theoretical approaches to issues of economic and social policy. In particular, the Programme, with the level of knowledge it provides, gives the opportunity for direct continuation of studies at the doctoral level.

The programme has specific attributes that make it unique among the postgraduate programmes offered in economics in our country. These are:

• The public and free character of the program is accompanied by the emphasis and encouragement of social contribution, as opposed to the widespread tendencies of strengthening the market character of education. The Programme is the only free-of-charge Programme of Graduate Studies of the Department of Economics
• the quality and tradition of the National and Kapodistrian University of Athens, which has historically been the first cradle of treatment of Political Economy and Economic Science in the country since 1837
• a demanding and focused two-year (four-semester) curriculum with a parallel emphasis on the analytical method and quantitative tools of the dominant tradition of economic science, and
• an insistence on a pluralistic approach with particular emphasis on non-orthodox traditions of economic thought as well as on the social dimension of economic science and economic policy.

The Programme emphasises economic theory and its applications. Economics is treated as a social science through courses that highlight it as such and through an emphasis on the theoretical differences between alternative schools of economic thought. At the same time, an in-depth understanding of mathematical and quantitative techniques and an understanding of the scientific way of thinking in economics is considered essential.

No tuition fees are charged for the Programme. No scholarships are available from the Programme resources.

The Programme insists on a policy of strict impartiality towards all candidates and is open to all persons regardless of nationality, race, gender, ethnicity, religion, or sexual orientation.

The Programme is managed by a five-member Steering Committee, which consists of the following faculty members of the Department of Economics: Stylianos Kotsios, Professor and Chair of the Department, Nikolaos Theocharakis, Professor and Programme Director, Georgios Dotsis, Associate Professor, Georgia Kaplanoglou, Professor, and Athanasios Maniatis, Professor.

Β. TITLE AND DURATION OF STUDIES

The duration of the Programme is two years (four consecutive academic semesters). The programme is full-time.  The new Regulation of Studies will provide a part-time option according to the provisions of the new law for students who work for more than 20 hours a week and other categories.

Students attend intensive courses, which are taught between 3-9 p.m. on weekdays. Attendance is compulsory.

Upon successful completion of the course, a Diploma of Postgraduate Studies (DPS) in Economics with an English equivalent title of Master of Philosophy (MPhil) in Economics is awarded. The award of the degree allows graduates of the programme to continue – if accepted – in the Department's Doctoral Studies Programme without having to attend additional courses (except for the Research Methods Seminar)

The degree is awarded by the Department of Economics of the Faculty of Economics and Politics of the National and Kapodistrian University of Athens.