On this page you will find useful information regarding the Master in Monetary and Financial Economics.

More information is available in the Department’s Graduate Prospectus.

 General Information


The Master in Monetary and Financial Economics provides a broad background in economic theory and specialized courses in monetary and financial economics. It is suitable for students who are interested in a career in the financial sector, such as banks, investment companies, etc.

To apply to the programme click on the following link:

Online application form

Initial deadline for applications: 31/03/2022 (passed)
Second Evaluation Round: 30/04/2022
Final Deadline: 30/06/2022

Applications received after the initial deadline are evaluated on a rolling basis. Interested candidates are encouraged to apply as soon as possible to ensure that they can be evaluated while there are still available positions and funding opportunities.

 Admission Requirements


The minimum requirements for admission to the Master in Monetary and Financial Economics:

  1. A Bachelor’s degree.
  2. Very good command of the English language.

Back to the top

 Admission Process


Documents Required for the Application:

  1. Application through the Online Application System of the University (see here).
  2. Two letters of recommendation.
  3. Copies of university degrees or a statement of expected graduation in the month preceding enrolment in the postgraduate programme.
  4. Transcripts as appropriate.
  5. Curriculum vitae.
  6. Motivation letter.
  7. English proficiency exam (This can be certified by international standardized tests such as GCE, TOEFL or other and are determined by the Department, see here).

Evaluation of applications is done by the Department’s Committee of Graduate Studies, based on applicants’ performance in their previous studies. Applicants may be called for an interview if this is deemed necessary. The Committee submits their recommendation to the Departmental Council, which has the final say on offering position in the programme.

Back to the top

 Programme Structure
Successful completion of the programme requires 90 ECTS and the normal duration is three semesters. The 90 ECTS correspond to 9 courses (66 ECTS) and a thesis (24 ECTS). Of the  required courses, 7 (52.5 ECTS) are compulsory, while 2 (13.5-15 ECTS) must be chosen by the list of elective courses. The following table shows the programme’s structure per semester:
1st YEAR
1st Semester ECTS
ECO 610 Money, Banking and Financial Economics 7.5
ECO 661 Microeconomics 7.5
ECO 662 Macroeconomics 7.5
ECO 663 Econometrics 7.5
2nd Semester  
ECO 606 International Finance 7.5
ECO 644 Τhe Economics of Firm Financing 7.5
ECO 680 Applied Financial Econometrics 7.5
1 elective course 6-7.5
2nd YEAR
3rd Semester  
1 elective course 6-7.5
ECO 698 Master’s Thesis 24

Master’s thesis ECO 698 – 24ECTS

The thesis should demonstrate in-depth knowledge of a particular topic and should contain original research elements. The thesis is presented to students and faculty and is marked independently by the student’s advisor and a member of staff with similar research interests appointed by the Departmental Committee of Graduate Studies.

If work on the thesis extends beyond one semester, students can register in ECO 600 Master’s Thesis (1 ECTS) for at most two subsequent semesters.

Back to the top

 Elective Courses
List of elective courses for the Master in Monetary and Financial Economics
Students must choose two from the courses below
CODE Course Name ECTS
AFN 521 Financial Theory 7
AFN 522 Investments 7
AFN 525 Options and Futures 7
AFN 526 Financial Analysis and Capital Market Research 7
AFN 528 Advanced Capital Budgeting 6
AFN 530 Seminar on Cyprus Economy, Banking and Financial Markets 6
AFN 534 Financial Risk Management 6
AFN 538 Applied Topics in Finance 6
ECO 664 Analysis of Economic and Financial Data 7.5
Additional elective course
The ECTS obtained from this course cannot count towards the fulfilment of the 90 ECTS that are required for the completion of the programme.
ECO 691 Placement in Financial Organisations 7.5
If the nine courses chosen by a student total under 66 ECTS then that student may enrol in ECO 695 (Seminar of Economic Research, 1.5 ECTS) to fulfil their Master degree requirements.

Back to the top