Doctor of Economics
The Doctor of Economics program at UGSM Monarch, has exceeded my expectations by far – since it allowed me to set my own pace of study, accompanied by guidance and care from the faculty whenever my steps faltered. The courses material is of very high standard and I gained a deep knowledge from key areas of Economics alongside with the constant encouragement to aim higher and achieve my full potential. I am proud to be a member of UGSM Monarch.”
Myriam Maier – Doctor of Economics
Program Identifier: DECONOM
Program Start: Cohort
Students considering the Doctor of Economics program should also consider the Doctor of Philosophy in Economics program.
The Doctor of Economics degree, D. Eco., is the highest level of professional qualification within the domain of economics for the practicing manager. The purpose of the D.Eco. is to provide the student with a solid grasp of all aspects of economic research at the doctoral level as they are applied to the practice of management in the day-to-day operations of the firm. Students pursuing this degree are interested in examining economic problems from an applied standpoint and are also capable of carrying out independent research at a doctoral level. Students entering this program are active within the professional financial and economic industries or intend to enter professional business in the capacity of CFO, COO, CEO, V.P. Finance or Chief Economist upon graduation.
The award of the D. Eco. degree is based on the completion of six (6) economics courses and a thesis of between 60,000 to 80,000 words in length. The thesis should constitute a significant and substantial piece of applied research. The duration of the program is typically between three to four years of study. The maximum time allowed for completion of the degree is five years.
Program Start Dates
The program runs on a cohort (group) basis. All new candidates whether residential or international (remote) may begin their studies at three separate times per year.
- Winter Cohort: January 1st each year
- Spring Cohort: May 1st each year
- Autumn Cohort: September 1st each year
Study Mode – Residential & International Mode
- International (Remote-Study)
All Doctoral programs are 36 months in duration. Enrolled candidates complete the program either in residence or as an international student. All students complete the program using the state of the art Moodle Learning Platform under the supervision of the faculty and their dissertation supervisor. International students fall under the Symposium rule whereby the are expected to complete their residency requirement within scheduled symposiums. Symposiums are offered in Zug, Switzerland and Dubai, UAE. Additional symposium may be required by the administration depending on the performance of the candidate. All candidates are required to be on-campus for the final dissertation defense (viva voce).
The D.Eco. is comprised of six (6) economics courses taken before the research phase of the program. Upon completion of the course-work component the student enters the candidacy phase of the program where the research methods courses are completed. After the candidacy stage is completed the research phase of the program is completed. The research methodology courses cover research methodology and design and is intended on providing the student with a solid understand of all aspects of research. The outcome of the research proposal perfecting module is the research proposal which describes the research contemplated by the student and provides a roadmap for completion.
Once the candidacy phase of the program is completed the student enters the research phase of the program and works with his/her supervisor to complete the dissertation work. When the final draft of the dissertation has been approved by the student’s supervisor the student then submits the dissertation for evaluation. After the dissertation has been approved the student then presents the work in the form of a viva voce or committee defense required for the Doctor of Economics degree. The evaluation of this degree is based on both the grade average of the course-work and the quality of the final dissertation presented to the committee. Students have a limit of 60 months from program start within which they must defend their dissertation in front of the committee.
To prepare students for the rigors of professional practice the Doctor of Economics program is designed with a course-work component. The course-work component consist of six (6) economics related courses taken in sequence. Students must maintain a grade average of B-, 70% in order to be eligible to move into the research phase of the program. Student not able to maintain this average will be asked to resit courses.
Each candidate is required to complete a dissertation that focuses on a topic of interest within the domain of economic theory contributing to new practical knowledge in the field. Dissertations are typically between 60,000 and 80,000 words. The research methodology used within the dissertation will be determined by the student as an outcome of the research methodology course.
ECTS & Hours of Study
The Doctor of Econoics program accounts for 180 credits under the ECTS scheme, European Credit Transfer and Accumulation System. The ECTS are split between the course-work component and the research component on a 50%-50% basis. The Research Methodology course and the Dissertation stage are completed only once the student completes the course-work component to a satisfactory level. Doctoral students must maintain a minimum average of a B-, 70% average in order to move in to the dissertation phases of the program. Students not attaining this threshold may be asked to resit certain courses. Each ECTS represents 25 hours of study. Therefore, the program accounts for 4,500 hours of study. Though the allocated allotment of study hours may vary per student, the program design is based on the following:
Course Phase: (18 Months)
- Course #1: Eco-610-Principles of Economics (15 ECTS, 375 hours) (Course Outline)
- Course #2: Eco-615-Microeconomic Theory (15 ECTS, 375 hours)
- Course #3: Eco-620-Macroeconomic Theory (15 ECTS, 375 hours)
- Course #4: Eco-625-Mathematics for Economics (15 ECTS, 375 hours)
- Course #5: Eco-630-Economics of Development (15 ECTS, 375 hours)
- Course #6: Eco-635-Political Economy & Int’l Economics of the Firm (15 ECTS, 375 hours)
Candidacy Phase: (10 Months)
- Quantitative Research Methodology Module (15 ECTS; 375 hours)
- Qualitative Research Methodology Module (15 ECTS; 375 hours)
- Research Proposal Perfecting Module (20 ECTS; 500 hours)
Research Phase: (8 Months)
- Research Manuscript Completion & Perfecting (40 ECTS; 1000 hours)
- Candidate Defends Dissertation in Committee (1 Day Event, Max 2 Hours, Obligatory)
The learning objectives of the program are specifically identified within each course and within the Research Methodology and Research Proposal Perfecting Modules and pertain to the entire thesis preparation and defense.
Program Available To
- Graduates from accredited M.Phil. Economics, Master of Economics programs or similar Master degree with an average grade of B- or above.
- Master students holding business degrees (MBA, MCom, M.Sc. Admin,) must complete a 12 month Doctor of Economics Bridging Program.
- Honors Bachelor of Economics students with first class honors may be granted admission on the prerogative of the Dean on a case-by-case basis.
DBA, Ph.D. or D.Phil. Candidates from other Universities may be eligible to complete their dissertation work at Monarch given that they meet the eligibility requirements. Eligibility is determined on an individual basis and candidates should contact the administration to inquire. There is a minimum 24 month stay in the program for doctoral transfer students.
You may find download the tuition fee schemes here.
Tuition Payment Method
Tuition Fees are to be paid by international wire transfer.
Scholarship For Students Originating From Developing Countries
In order to help make available the opportunity to complete higher degrees for students originating from developing countries, as defined by the OECD, the Office of the Dean of the Faculty provides partial scholarships equivalent to 20% of the total standard program tuition. Eligible students must indicate their intention to request such tuition relief upon application to the program. The Dean Scholarship is available under the Distance Learning Option only. Please note that as a private university UGSM-Monarch Business School is not in a position to provide full scholarships as it does not receive support from government agencies.