MSc in Economic Analysis

Through rigorous quantitative analysis, students learn to apply economic models and statistical techniques to analyze data, forecast economic trends, and evaluate policy implications. The goal is to develop a deep understanding of economic mechanisms, market dynamics, and the impact of policy decisions on both national and global scales. This advanced level of analysis equips graduates with the skills needed to tackle real-world economic challenges, making informed decisions based on empirical evidence.


Graduate's Prospects

Several of its graduates continue their studies to pursue a Ph.D. in Economics, either at the University of Cyprus or in other institutions. Graduates of the programme have been admitted at top Ph.D. programmes worldwide, including University of Wisconsin-Madison, University of Maryland and Universidad Carlos III de Madrid. In addition to these, graduates of the Department, several of which had taken courses from the Master in Economic Analysis, have been admitted among other to the University of Rochester, Columbia University, Washington University in St. Louis, Universitat Pompeu Fabra, and others.

Graduates who did not pursue a Ph.D. have found employment in the private sector, mainly in financial institutions, as well as in competitive positions in governmental organizations, including the Central Bank of Cyprus and the Ministry of Finance.

Requirements and conditions

Admission requirements

Admission is based on suitability in terms of both academic credentials and experience (e.g. prior research or work experience).

Vacancies are announced once a year and admissions are made based on the regulations of the Graduate School of the University of Cyprus. After initial screening, shortlisted applicants may be called for a personal interview.

The minimum necessary requirements are:

  1. Bachelor Degree in a related discipline, such as economics, psychology, political science, sociology, mathematics, physics, computer science, engineering.
  2. Demonstrated proficiency in English.
Language requirement

Candidates for the graduate studies programme are required to have a grade of 550 in the TOEFL examinations or 213 in the TOEFL computer-based format exam or B in the GCE O-Level examinations or an equivalent qualification demonstrating sufficient knowledge of the English language (by previously obtaining a degree from an accredited U.K. or U.S. academic institution, for instance). In addition to the requirements described in the relevant Admission and Attendance Regulations, candidates for the graduate studies programme whose first language is not English are required το provide proof of proficiency in English in one of the following ways:

  1. G.C.E. O-Level English with a minimum grade “C”.
  2. I.G.C.S.E. English with a minimum grade “C”.
  3. I.E.L.T.S. minimum average score 6.5.
  4. T.O.E.F.L. with a minimum score of 550 (Paper-based) or T.O.E.F.L. with a minimum score 213 (Computer-based) or T.O.E.F.L. (Internet based) with a minimum score 92.
  5. Cambridge English First (FCE), with a minimum score 176.
  6. Cambridge English Advanced (CAE), with a minimum score 176.
  7. Cambridge English Proficiency (CPE), with a minimum score 176.
  8. Certificate of Proficiency in English (ECPE), with a minimum score 650.
  9. Anglia Examinations – Proficiency (C1).
  10. IB diploma (International Baccalaureate).
  11. Certificate of success in the exams conducted by the Ministry of Education and Culture.
  12. Certificate of success in year 6th final exams, of the Cyprus State Institutes of Further Education.
  13. Any other equivalent exam that will prove proficiency in English language.
  14. Candidates who hold a degree from a recognized university programme taught in English are considered to have proficiency in English.
Application process

Prospective students must apply through the Graduate School of the University of Cyprus.

The application must include:

  1. Academic Record (transcripts and degree certificate if the applicant has already graduated)
  2. Curriculum Vitae/Resume
  3. Motivation Letter
  4. Recommendation Letters from two academic supervisors or instructors
  5. Proof of proficiency in English
Tuition fees
Tuition for the programme is set at €5,125.

Programme Structure

Description of all courses can be found here
Semester 1
Code/Course ECTS
ECO 601 Microeconomic Analysis I 7.5
ECO 602 Macroeconomic Analysis I 7.5
ECO 603 Statistics and Econometrics I 7.5
ECO 604 Analytical Methods in Economics 7.5
Semester 2
Code/Course ECTS
ECO 651 Microeconomic Analysis II (ECO 601) 7.5
ECO 652 Macroeconomic Analysis II (ECO 602) 7.5
ECO 653 Statistics and Econometrics II (ECO 603) 7.5
One elective course: You can take one of the elective courses from the elective courses list 7.5
Semester 3
You have the option to take either
Code/Course ECTS
ECO 699 Master's Thesis or 30
Four of the elective courses from the list on the side 30









Elective courses
ECO 605 International Trade (ECO 603) 7.5
ECO 606 International Finance 7.5
ECO 610 Money, Banking and Financial Economics 7.5
ECO 611 Labour Economics 7.5
ECO 612 Industrial Organisation and Policy 7.5
ECO 613 Public Economics 7.5
ECO 644 The Economics of Firm Financing 7.5
ECO 664 Analysis of Economic and Financial Data 7.5
ECO 673 Applied Microeconometrics 7.5
ECO 680 Applied Financial Econometrics 7.5
ECO 688 Current Topics in Economic Research I 7.5
ECO 788 Current Topics in Economic Research II 7.5


  1. Courses in brackets are prerequisites
  2. Students may replace an Elective Course with a graduate course offered by other University Departments, subject to approval from the Departmental Board.
  3. Students may replace an Elective Course with an advanced undergraduate course offered by other University Departments, subject to approval from the Departmental Board.