Economics - Ανοικτό Πανεπιστήμιο Κύπρου

PROGRAMME OBJECTIVES

The mission of the undergraduate programme in Economics is to provide a strong foundation in economic theory and quantitative analysis. The program introduces students to macro- and microeconomic theory teaches them to think and write clearly about economic problems and policy issues and to use ‘real-world” data to forecast behaviour and to investigate the relationships between observed phenomena and economic models.

European Credit Units - ECTS: 240

Teaching Language: Greek

Level of Studies: Undergraduate

Title to be Awarded: Bachelor’s degree (BSc)

WHY CHOOSE TO ATTEND?

In order to accommodate students’ wide variety of goals, three specialisations are available: a) Energy Economics with emphasis on Oil and Gas Economics, b) Business Economics, and c) Banking and Finance. The three specialisations are designed to provide students with a solid understanding of the central theories and analytical tools of the field of economics while maintaining the necessary flexibility to meet the needs of diversity in career paths in a variety of promising industries, private firms, and organisations, as well as in the public domain. Students completing this degree will be well-equipped to pursue graduate work (professional or academic) or enter directly the business world or public service.

The programme is evaluated and accredited by:

The Open University of Cyprus (OUC), through its participation in the European project "Liaison Offices with the Labour Market", offers to students of all its programmes of study, the optional and free of charge Thematic Unit (i.e. Module) entitled "Industry Placement". This module provides students opportunities for a placement to gain professional experience in their particular field of study, and the hosting institution can be any public or private organisation operating in the Republic of Cyprus.

Each student has the right to participate in this offering once or twice during his / her studies, provided that s/he meets the required conditions.

Request more information by contacting the OUC Liaison Office here.

ADMISSION REQUIREMENTS

Applicants must hold a secondary education degree (or equivalent). Good computer skills (internet and email) are needed. Sufficient English language knowledge is desirable.

FEES / ADMINISTRATIVE COST

The total administrative cost of the Programme is €8400. The cost of each Module is €350. Administrative costs are charged per Module.

The total administrative cost for non E.U. citizens is €10920 and the cost of each Module is €455.

APPLICATIONS

Applications can be submitted exclusively online:

Application dates for the spring semester of the Academic year 2024-2025 : September 16 - November 12, 2024.

PROGRAMME STRUCTURE

For the successful completion of the bachelor programme in Economics, students must successfully undertake twenty-four (24) modules.

Students can undertake up to three (3) modules per semester. Full-time study of the programme requires the selection of three (3) modules whereas the selection of one (1) or (2) modules is considered part-time.

For the successful completion of each Module, students, under the supervision of their Professors, are required to submit three (3) written assignments per Module.

At the end of each semester, students must sit final written exams for each module.

FIRST YEAR

In the first year, students learn to think like economists and become familiar with the tools used to analyse real financial problems. This knowledge is the background on which the rest of their studies will be based.

SECOND YEAR

The second year consists of compulsory modules in Microeconomic and Macroeconomic Analysis, Accounting, Econometrics, Public Finance and Industrial Organisation.

THIRD YEAR

In the third year, students choose one of the three directions according to their interests. Specifically, the third year includes two compulsory (Principles of Financial Theory and International Finance), two compulsory specialised modules and two elective modules.

FOURTH YEAR

The modules of the fourth year give the students the opportunity to deepen their specialisation courses according to the chosen direction, but also to attend elective modules according to their interests and professional pursuits. Specifically, the fourth year includes four specialisation modules and two electives.

Programme of Study Layout Economics
*Modules*		*Semester*	*Required* / *Elective*	*Pre-requisite Modules*	*Co-requisite Modules*	*Workload*
*Modules*		*Semester*	*Required* / *Elective*	*Pre-requisite Modules*	*Co-requisite Modules*	*Hours*	*ECTS*
*Common for* *all Specializations*
OIK111	Principles of Economic Analysis I	1	Required			250 - 300	10
OIK112	Statistical Analysis of Economic Data I	1	Required		ΟΙΚ113	250 - 300	10
OIK113	Quantitative Methods in Economics I	1	Required			250 - 300	10
OIK121	Principles of Economic Analysis II	2	Required			250 - 300	10
OIK122	Statistical Analysis of Economic Data II	2	Required	ΟΙΚ112		250 - 300	10
OIK123	Quantitative Methods in Economics II	2	Required	ΟΙΚ113		250 - 300	10
OIK211	Microeconomic Theory	3	Required	ΟΙΚ111		250 - 300	10
OIK212	Principles of Financial Accounting	3	Required			250 - 300	10
OIK213	Econometrics	3	Required	ΟΙΚ122		250 - 300	10
OIK221	Macroeconomic Theory	4	Required	ΟΙΚ121		250 - 300	10
OIK222	Public Economics	4	Required	ΟΙΚ211		250 - 300	10
OIK223	Industrial Organization	4	Required	ΟΙΚ211		250 - 300	10
OIK311	Introduction to Financial Theory	5	Required	ΟΙΚ212		250 - 300	10
OIK321	International Economics	6	Required	ΟΙΚ221		250 - 300	10
OIK315	Principles of Business Administration	5	Elective			250 - 300	10
OIK316	Topics in Advanced Microeconomics	5	Elective	ΟΙΚ211		250 - 300	10
OIK324	Human Resource Management	6	Elective			250 - 300	10
OIK325	Labour Economics	6	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK326	Topics in Advanced Macroeconomics	6	Elective	ΟΙΚ221		250 - 300	10
OIK417	Marketing and Strategy	7	Elective			250 - 300	10
OIK418	Time Series Econometrics	7	Elective	ΟΙΚ213		250 - 300	10
OIK427	Philosophy of Economic Thought	8	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK428	Political Economy and Economic Systems	8	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK429	Mergers and Acquisitions	8	Elective	ΟΙΚ311		250 - 300	10
*Specialization: Energy Economics with Emphasis in Oil and Gas Economics*
OIK312	Energy and Natural Resource Economics	5	Required	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK322	Environmental Economics	6	Required	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK411	International Energy Markets	7	Required	ΟΙΚ321, ΟΙΚ311		250 - 300	10
OIK412	Oil and Gas Industry	7	Required	ΟΙΚ321		250 - 300	10
OIK421	Oil and Gas Markets: Financial Analysis	8	Required	ΟΙΚ311		250 - 300	10
OIK422	Strategic Planning for the Oil and Gas Industry	8	Required	ΟΙΚ321, ΟΙΚ311		250 - 300	10
OIK313	Advanced Business Economics	5	Elective	ΟΙΚ211		250 - 300	10
OIK314	Organization of Business	5	Elective	ΟΙΚ212		250 - 300	10
OIK323	Corporate Finance	6	Elective	ΟΙΚ211, ΟΙΚ311		250 - 300	10
OIK413	Organization of Business	7	Elective	ΟΙΚ211		250 - 300	10
OIK414	Entrepreneurship, Theory and Practice	7	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK415	Securities and Investments	7	Elective	ΟΙΚ311		250 - 300	10
OIK416	Banks and Banking Environment	7	Elective	ΟΙΚ311		250 - 300	10
OIK423	Operations Management	8	Elective	ΟΙΚ211		250 - 300	10
OIK424	E-Business	8	Elective	ΟΙΚ211		250 - 300	10
OIK425	International Finance	8	Elective	ΟΙΚ311, ΟΙΚ321		250 - 300	10
OIK426	Risk Management in Banking	8	Elective	ΟΙΚ311		250 - 300	10
*Specialization: Business Economics*
OIK313	Advanced Business Economics	5	Required	ΟΙΚ211		250 - 300	10
OIK323	Corporate Finance	6	Required	ΟΙΚ211, ΟΙΚ311		250 - 300	10
OIK413	Organization of Business	7	Required	ΟΙΚ211		250 - 300	10
OIK414	Entrepreneurship, Theory and Practice	7	Required	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK423	Operations Management	8	Required	ΟΙΚ211		250 - 300	10
OIK424	E-Business	8	Required	ΟΙΚ211		250 - 300	10
OIK312	Energy and Natural Resource Economics	5	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK314	Financial Accounting	5	Elective	ΟΙΚ212		250 - 300	10
OIK322	Environmental Economics	6	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK411	International Energy Markets	7	Elective	ΟΙΚ321, ΟΙΚ311		250 - 300	10
OIK412	Oil and Gas Industry	7	Elective	ΟΙΚ321		250 - 300	10
OIK415	Securities and Investments	7	Elective	ΟΙΚ311		250 - 300	10
OIK416	Banks and Banking Environment	7	Elective	ΟΙΚ311		250 - 300	10
OIK421	Oil and Gas Markets: Financial Analysis	8	Elective	ΟΙΚ311		250 - 300	10
OIK422	Strategic Planning for the Oil and Gas Industry	8	Elective	ΟΙΚ321, ΟΙΚ311		250 - 300	10
OIK425	International Finance	8	Elective	ΟΙΚ311, ΟΙΚ321		250 - 300	10
OIK426	Risk Management in Banking	8	Elective	ΟΙΚ311		250 - 300	10
*Specialization: Banking and Finance*
ΟΙΚ314	Financial Accounting	5	Required	ΟΙΚ212		250 - 300	10
OIK323	Corporate Finance	6	Required	ΟΙΚ211, ΟΙΚ311		250 - 300	10
OIK415	Securities and Investments	7	Required	ΟΙΚ311		250 - 300	10
OIK416	Banks and Banking Environment	7	Required	ΟΙΚ311		250 - 300	10
OIK425	International Finance	8	Required	ΟΙΚ311, ΟΙΚ321		250 - 300	10
OIK426	Risk Management in Banking	8	Required	ΟΙΚ311		250 - 300	10
OIK312	Energy and Natural Resource Economics	5	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK313	Advanced Business Economics	5	Elective	ΟΙΚ211		250 - 300	10
OIK322	Environmental Economics	6	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK411	International Energy Markets	7	Elective	ΟΙΚ321, ΟΙΚ311		250 - 300	10
OIK412	Oil and Gas Industry	7	Elective	ΟΙΚ321		250 - 300	10
OIK413	Organization of Business	7	Elective	ΟΙΚ211		250 - 300	10
OIK414	Entrepreneurship, Theory and Practice	7	Elective	ΟΙΚ211, ΟΙΚ221		250 - 300	10
OIK421	Oil and Gas Markets: Financial Analysis	8	Elective	ΟΙΚ311		250 - 300	10
OIK422	Strategic Planning for the Oil and Gas Industry	8	Elective	ΟΙΚ321, ΟΙΚ311		250 - 300	10
OIK423	Operations Management	8	Elective	ΟΙΚ211		250 - 300	10
OIK424	E-Business	8	Elective	ΟΙΚ211		250 - 300	10
Total						6000 - 7200	240
Industry Placement
OIK495	Industry Placement (1st placement)						5
OIK496	Industry Placement (2nd placement)						5

Each student can optionally enrol, once or twice, in the free of charge Thematic Module "Industry Placement", which awards five (5) ECTS. The module offers a structured placement, designed to offer students specific industry and professional experience in their particular field of study, and to allow them to build their skills in a real-world setting.

OIK495 - Industry Placement (1st placement)

OIK496 - Industry Placement (2nd placement)

Request more information by contacting the OUC Career and Liaison Office here.

OIK111: Principles of Economic Analysis I

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