About the Academic Track

Master of Economic Sciences

The Master in Economics is based on a deep understanding of modern economics and econometrics and is built on the faculty’s strength. We provide our students with skills that are marketable in academia, as well as in international organizations, private, and public companies. The academic track focuses on providing the most advanced tools in core micro/macroeconomics, and econometrics; students also have a choice of focused and exciting electives and can specialize in econometrics.

CAREER OPPORTUNITIES
The Master in Economics leads to professional opportunities in ISU and abroad, in sectors such as:
Private companies
Public institutions
Monetary, banking and insurance sectors
Economic and econometric research institutions
International organizations
Healthcare, national insurance, etc.

Study Duration

● The student studies eight courses, distributed as follows:
√ Six compulsory courses.
√ Two elective courses from among the courses offered by the college for master’s students.
● The study is conducted through research seminars in each course. The research seminar is based on multiple references and is in accordance with the methodology and standards of scientific research.
● The study of each of the eight courses takes four credit hours for a minimum of four weeks and may exceed that according to each student’s abilities. After that, the student’s competency and knowledge test is held in the course he completed, then he begins another course in the same manner, and so on.
● The student is assigned a hypothetical course that the college chooses from among the courses that the student has studied at the undergraduate level, and this is considered a practical training for the student to be evaluated with ten credit hours. The student must divide this course from twelve to fourteen brief lectures. The student presents each lecture in the form of a written summary of its topic in Word or PDF format, accompanied by a video recording of it in the student’s voice using the Power Point program, with a duration of not less than ten minutes and not more than About twenty minutes.
● Study courses in the first year, the student has the right to extend the study for a period not exceeding a second year.

The requirements for obtaining a master’s degree in various disciplines are sixty credit hours according to the study plan approved by the University Council, and these requirements are distributed according to the following programs:
1- Research courses of thirty-two credit hours.
2- A scientific thesis with eighteen credit hours.
3- A practical training of ten credit hours.

Requirements for registering a thesis topic for a master’s degree
● The student must pass the stipulated courses with a score of at least 70%.
● The student obtained a TOEFL certificate of at least 450, or its equivalent, or obtained an equivalent certificate in the French language, with the exception of those who obtained a first university degree in one of the two languages, or in one of the two languages.
● The student submits a request to the university administration to register a master’s thesis with a proposed topic in one of the subspecialty tracks.
● If the initial approval of the subject title is achieved, the college council will designate a supervisor to guide and follow up the student in preparing the plan.
● The research plan includes the importance of the topic and a critical presentation of previous studies in it, specifically the research problem, then defining the study’s curriculum and its main hypotheses or questions that you want to answer, and the division of the study and its sources.
● The student presents his proposed plan in a scientific seminar, discussing the plan as a topic and an approach.
● The student adjusts his plan based on the professors’ observations in the seminar if he is asked to amend.
● After the seminar, the plan is presented to the college council to take its decision regarding the registration of the subject.
● In the event of approval, the College Council’s decision is presented to the University Council to approve the registration, and the registration date is calculated from the date of the University Council’s approval.

Jury discussion and award of degree
● The minimum for preparing a master’s thesis is nine months, starting from the date of approval by the University Council to register the subject, and the maximum is two years, which can be extended for a third exceptional year upon the recommendation of the supervisor and the approval of the College Council, provided that the total period of student enrollment in the degree does not exceed four years.
● The supervisor submits a semi-annual report that includes what has been accomplished and what is required in the remaining period.
● After the student completes the thesis and the supervisor reviews it, the supervisor submits to the university administration a report stating its validity for discussion, including an evaluation of the student’s performance during the preparation period of the thesis of 140 degrees, with a full copy of the thesis signed by him, and a letter with the names of the discussion and judgment committee proposed by the professors of the specialty, for presentation to the college Council.
● At least fifteen days must pass before the student’s discussion from the date of the approval of the discussion committee by the college.
● The validity period of the committee formed to discuss the thesis is six months, which may be renewed for a similar period based on a report from the supervisor and the approval of the College Council.
● Each member of the committee writes a detailed scientific report on the validity of the thesis for discussion, and the thesis is evaluated out of 420 degrees, and the average of the three degrees is taken.
The student may not be discussed unless he/she gets at least 70% of the supervisor’s evaluation of his performance and the committee members’ evaluation of the message in the individual reports.
● A group report is submitted after the discussion, signed by all members of the committee, in which an evaluation of the thesis discussion is given on a scale of 140 degrees.

The thesis is passed after public discussion with one of the ratings shown in the following table:

Percentage of gradespointsappreciation symbolAppreciation
ArabicEinglish
95 to 100%4A+A+Prominent
90 to less than 95%7 , 3aA
85 to less than 90%3 , 3b+BVery well
80 to less than 85%3BB
75 to less than 80%7 , 2c+C+Good
70 to less than 75%3 , 2cC

After the college approves the student’s results, the master’s degree is awarded at a rate calculated from the average total of the courses and thesis grades.
After obtaining the approval of the University Council to grant a master’s degree to the student, he is entitled to obtain insured certificates, authenticated by the university, stating that he obtained that degree, in order to present them to the various authorities.

Study Duration

The duration of study to obtain a master’s degree in Political and economics is two years as a minimum, and six years as a maximum.
In the first year, the student studies at least eight subjects, and the study is through research seminars for each course. The research seminar is based on multiple references and is in accordance with the scientific research methodology and standards.
In the second year, the student attends a general seminar for the topic of the thesis, which he will prepare and submit for discussion
The general seminar is discussed by the scientific committee at the university, and the title of the thesis is approved
The student works to complete his thesis under the supervision of the supervisor decided by the Presidency of the University based on the proposal of the Dean of the Faculty
The student completes his scientific thesis and submits for discussion before the committee formed by the Presidency of the University in a public session and completes the conditions for a master’s degree
Courses of study in the first year The student has the right to extend the study in it for a period not exceeding a second year
The thesis prepared by the student during a period of time not less than 9 months and not exceeding two years

Conditions for success and graduation

1) The student is considered to have passed any of the program’s courses if he achieves a final score of no less than 65%. He is also considered successful in the master’s project if he obtains a mark (granted by the judging committee) not less than 75%.
After the student presents the results of his project before the committee, and discusses its technical content.
2) The student is not entitled to submit to discuss his thesis until a scientific research is published in an approved refereed journal.
3) The student obtains a master’s degree certificate after he has fulfilled all the scientific requirements for this degree.

Academic Track Structure
8 courses = 32 credit hours,
 practical training = 10 credit hours
 Master's thesis = 18 credit hours
Courses
Practical Training
Master's Thesis

I. Compulsory Courses

Scientific Research Methodology

Course name: Scientific Research Methodology

Course code: MECO101

Credit hours: 4.00


The course aims to train students to prepare research in economics science, by identifying the most important steps of the research process such as the research problem, scientific hypotheses, concepts and variables, data collection methods, data analysis tools, reaching results and generalizations, in addition to introducing the most important approaches used in field of economics science.
The curriculum’s inputs include: the form and type of knowledge, learners’ characteristics, needs, tendencies and interests, the society’s philosophy, values, hopes and aspirations. The outputs of the curriculum are: knowledge, skills, and attitudes.

Applied Economics Workshop

Course name: Applied Economics Workshop

Course code: MECO102

Credit hours: 4.00


Objective
The aim of the workshop is to have students familiarize with the current methods of empirical analysis of microdata for policy relevant topics. The main focus will be on hands-on, and interactive, understanding of frontier research in applied economics.
In particular, we will cover a series of topics, firstly from a theoretical perspective and then with applications and replications.
Description
The class will cover:
1. Identification and Randomized Controlled Trials
2. Matching methods, regression and IV
3. Natural Experiments and Difference-in-differences
4. Regression Discontinuity Design
After each theoretical class there will be ample room for discussion and analysis by students of existing papers with hands-on replications of the main results. Such work will be then presented by the students during the next class.

Econometrics

Course name: Econometrics

Course code: MECO103

Credit hours: 4.00


Objective
The aim of this course is to present the fundamental models and methods in econometrics as well as the basic asymptotic theory. At the end of the course the student should be able to specify a suitable econometric model to answer the empirical research question with the available data, devise an appropriate estimation methodology, test the assumptions of the model, perform forecasting, and make evidence-based policy recommendation.
Description
The main models covered are the classical regression model, the generalised regression model, models with autocorrelated errors, models with heteroscedastic errors, stochastic regression framework and instrumental variables method, dynamic (time series) models, systems of regressions and simultaneous equation models. A brief introduction to panel data and qualitative response models will be given at the end.
Overall, the student should have acquired a strong foundation in econometrics to be able to learn further, and adequate analytical skills to formulate, estimate and validate an econometric model to answer a given research question.

Macroeconomics

Course name: Macroeconomics

Course code: MECO104

Credit hours: 4.00


Objective
By the end of the course, students are expected to have a profound understanding of the main theories of economic growth, be knowledgeable about the determinants of economic growth, and be able to interpret the empirical evidence in the light of economic theory.
Description
This course focuses on economic growth. It covers the ‘workhorse’ models of economic growth (Solow model, overlapping generations model, Ramsey model) and models of endogenous growth (driven by human capital externalities or innovation activities and endogenous technological growth). The focus of the course is on methods and mechanisms of economic growth and on the link between economic theory and empirical evidence.
During the semester, there are weekly exercise sessions. For the preparation of the final exam, it is crucial to do the problem sets in advance. During the second half of the semester, there are group presentations by students on recent empirical articles related to economic growth.

Microeconomics

Course name: Microeconomics

Course code: MECO105

Credit hours: 4.00


Objective
The course objectives relate to the following learning outcomes of the MSc in Economics:
– demonstrate advanced knowledge and skills in core economics;
– demonstrate an advanced quantitative proficiency for solving economic problems;
– write clearly and concisely on economics.
The main objective of the course is to provide students with the tools of microeconomic analysis needed to study a variety of economic fields.

Description
This class presents a formal analysis of microeconomic theory focused on decision theory, consumption, production, aggregation, and choice under uncertainty.
Weekly lectures will cover chapters 1-6 of the MWG textbook—see below. We use slides that complement the textbook without replacing it. Reading corresponding textbook chapters in advance is essential.
Seminars will be dedicated to solving problem sets. Seminars are part of the course. Students are expected to do the exercises before they will be corrected in seminars.
The main objective of the course is to provide students with the tools of microeconomic analysis needed to study a variety of economic fields. Mastering the theory of consumption and production is fundamental to understand and work on applied and theoretical fields such as development economics, environmental economics, international economics, labor economics, public economics, industrial organization, macroeconomics, etc. Moreover, the theory of choice under uncertainty permeates all economic research. In particular, uncertainty is a fundamental ingredient of contract and game theory, which will be introduced in Microeconomics 2.

Labor Economics

Course name: Labor Economics

Course code: MECO106

Credit hours: 4.00


Objective
The aim of this course is to provide students with a deep understanding of current theoretical and empirical research in labour economics. The course will cover main topics of modern labour economics, such as labour supply and demand, human capital and wage formation. We will approach the various topics from both a theoretical and an empirical viewpoint.

Description
The class will cover the following topics:
1. Labour demand
2. Labour supply
3. Efficiency wages and other incentive contracts
4. Search and matching models
5. The economics of education
6. The economics of migration.
Additional topics such as discrimination and inequality will be covered in the reading groups and the flipped classes.

II. Elective Courses

 

Advanced Econometrics

Course name: Advanced Econometrics

Course code: MECO151

Credit hours: 4.00


Objective
Cover various aspects of modelling and inference typical in econometrics, see description: Students will be enabled to specify suitable econometric models corresponding to the data and the type of research question to be answered, devise an appropriate estimation methodology, test the assumptions of the model, validate it and correctly interpret it.

Description
We cover general consideration in econometric analysis (part 1), qualitative responses (part 2), limited dependend responses (part 3) and panel data (part 4). In part 1 we briefly discuss general concepts ( bias, endogeneity, machine learning ),
In part 2 and 3 all estimation procedures are likelihood based. It will be shown, however, that this can be equivalently described as a GMM or as a quasi-GLS estimator.
The last part is on panel data analysis. Panel data sets representing combinations of time series and cross sections offer many advantages over individual cross sections or time series, of which the most important one is that they enable the identification of certain dynamics and heterogeneity of behaviour which are unidentifiable in the one dimensional case. In this course we will present some important panel data models including the fixed effects model, the random effects (error components) model, the dynamic panel data model.

Data-Driven Impact Evaluation

Course name: Data-Driven Impact Evaluation

Course code: MECO152

Credit hours: 4.00


The objective of this course is to introduce the basic concepts of causal inference.
The emphasis is on quantitative methods for impact evaluation and treatment effect estimation.

Description
– Potential Outcomes, Causality and Experiments
– Matching and Regression
– Propensity score weighting and regression
– Differences in Differences
– Using Instrumental Variables
– Discontinuity Regression
– Non- and semiparametric regression techniques

International Macroeconomics

Course name: International Macroeconomics

Course code: MECO253

Credit hours: 4.00


This graduate level course familiarizes students with key concepts in international macroeconomics from a policy perspective. The focus is on key macroeconomic concepts being used by macroeconomists and investment managers for their investment decisions, as well as on understanding central banks’ policy decisions and reaction functions. Among the key concepts, students will get a deep dive into the balance of payments, exchange rates and their determinants, money supply & demand, monetary policy rules, country risk assessment, public debt analysis & sustainability. A particular attention will be given to the recent pandemic crisis impact & assessment, ongoing geopolitical crisis in Europe as well as on the European sovereign debt crisis.
In addition to the two-hours academic course scheduled on Wednesday evening, students will be asked to work in groups on specific projects illustrating key macroeconomic concepts and their implementation for the asset management industry. Students are highly recommended to master an introductory textbook in macroeconomics as well as to have basic knowledge in statistics and in data treatment and analysis.

Institutional Project

Course name: Institutional Project

Course code: MECO254

Credit hours: 4.00


Participation in institutional projects aims to recognize the involvement of students in the life of the university community. The objectives and the general conditions of admissibility and evaluation of applications for participation in institutional projects are specified and detailed in the following points.

The student involvement recognition policy aims to:
‘ encourage students to engage meaningfully as members of the university community;
‘ encourage students to develop personal skills complementary to those acquired during training;
‘ formally recognize the involvement of students through measures that demonstrate the importance given to learning achieved within the framework of recognized activities and projects.

The Statistical Analysis of Time Series

Course name: The Statistical Analysis of Time Series

Course code: MECO255

Credit hours: 4.00


Objective
Students finishing this course successfully are expected to:(1) be familiar with the theory required for the statistical analysis of time series;(2) understand and apply various inferential techniques, e.g. maximum likelihood estimation, and spectral analysis;(3) critically evaluate the outcomes of the applied inferential techniques;(4) be familiar with the statistical software for the analysis of real data; (5) be able to present the results of a statistical analysis.

Description
Time series analysis refers to phenomena in which observations are collected over time and there are correlations among successive observations. Applications cover virtually all scientific areas, including economic, finance, medicine, and climatology. This course provides the Students with the most important concepts and methodologies for dealing with time series analysis. The course starts from the fundamental definitions(e.g., stationarity and ergodicity) and it covers topics in both time- and frequency domain. In time-domain, both univariate (e.g. autoregressive processes) and multivariate time series models are discussed. In frequency-domain, spectral methods are applied to study long-memory (e.g. autoregressive fractional integrated) processes and to analyze large data sets (dimensionality reduction). Finally, an overview about Hilbert spaces approach to time series concludes the course. The theoretical aspects are illustrated by the practical analysis of data sets. A brief review of some (high-school) math skills (e.g. trigonometry, complex numbers, matrix calculus) is done in the exercise sections.

Regional Disparities and Urban Economics

Course name: Regional Disparities and Urban Economics

Course code: MECO256

Credit hours: 4.00


Objective
1) Be knowledgeable about:
a. the economic causes of regional disparities
b. the economic costs and benefits of urbanization
c. the impact of public intervention on spatial disparities
d. the econometric techniques that economists use to identify causal effects in economics in general (and urban economics in particular).
2) Be able to interpret maps and diagrams as a way to synthesize complex information.
3) Master analytical tools to analyze real world examples and make policy recommendations.

Description
Most of the world is urbanized and output per capita is larger in big metropolitan areas than in small towns. Understanding modern economies requires understanding the economics of cities. This course provides a broad introduction to modern regional and urban economics. In the first part of the course we seek to understand how and why cities exist, grow and develop. In the second part, we explore how cities interact and why they differ in size and perform different activities. The third part of the course looks at regional development and attempts to understand the determinants of regional disparities. The course is both empirical and theoretical. A strong emphasis is put on a difficult but fascinating issue: the identification of causal effects in economic and social sciences.

During the course, students will
1) develop critical thinking to analyze complex socio-economic issues
2) communicate complex information to others in a synthetic way
3) solve problems in teams and provide feedback to fellow students.

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Degree: Master's Degree

Track code: MA109PE

Study method: Distance Learning

Credit hour: 60

How long it takes: 
Full time: 2 years
Part time: 4 years
Limit time: 6 years