Doctor of Economics

Program Identifier: DECONOM

Program Director
The Director of the Doctor of Economics Program is Dr. Dimitris Koumparoulis, Ph.D.

Alternative Program
Students considering the Doctor of Economics program should also consider the Doctor of Philosophy in Economics program.

Overview
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.

Dual Degree Award (D.Eco./Ph.D.)
This degree is also available as a dual degree with our University partner, Unversidad Azteca.

Distance Learning Structure
Program specific coursework, research methodology course and dissertation, over 36 month period. The Doctor of Economics program is designed as a distance learning option. Students complete the program under the supervision of their dissertation supervisor using the state of the art Moodle Learning Platform. Students are not required to be on-campus except for the final dissertation defense (viva voce).

Design
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 research phase of the program. The research phase of the program consist of two parts: 1. research methodology course, and 2. research completion. The research methodology for economics course covers economic research methodology and design and is intended on providing the student with a solid understand of all aspects of economic research. The outcome of the research methodology course is the research proposal which describes the research contemplated by the student and provides a roadmap for completion.

Once the research methodology course is completed the student enters the dissertation 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.

Course-Work
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) economic related courses taken in sequence. These are:

  • Course #1: Eco-610-Principles of Economics (Course Outline)
  • Course #2: Eco-615-Microeconomic Theory
  • Course #3: Eco-620-Macroeconomic Theory
  • Course #4: Eco-625-Economics of Development
  • Course #5: Eco-630-Mathematics for Economics
  • Course #6: Eco-635-Political Economy & International Economics of the Firm

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.

Dissertation
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. Thus, the components account for 90 ECTS or 2,250 hours each. 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:

  • Finance based course-work, 6 courses (90 ECTS, 2,250 hours)
  • Res600: Research Methodology for Doctoral Students (15 ECTS; 325 hours)
  • Phase 1: Literature Research and Design – Introduction & Literature Review Sections (20 ECTS; 500 hours)
  • Phase 2: Research & Data Collection – Methodology & Data Presentation Sections (22 ECTS; 550 hours)
  • Phase 3: Final Preparation of Thesis – Conclusion & Recommendation Section (23 ECTS; 575 hours)
  • Defense Preparation (10 ECTS; 250 hours)
  • Candidate Defends Dissertation in Committee (1 Day Event, Max 2 Hours, Obligatory)

The research learning objectives are specifically identified within the Research Methodology course and pertain to the entire thesis preparation and defense.

Program Available To

  • Graduates from accredited undergraduate business programs with an average grade of B+ or above. Undergraduate students must demonstrate superior academic and personal qualifications in order to be accepted directly into Doctoral studies.
  • Graduates from accredited master programs in finance or economics or related fields with an average grade of B- or above.
  • Graduates from the Monarch Business School Master programs.

ABD Transfers
DBA, Ph.D. or D.Phil. Candidates from other Universities that have concluded their course work but have yet to complete their thesis work 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.

Program Tuition
The program may be followed through the following two option:

  • Doctor of Economics Degree = 20,000 €
  • Ph.D. in Administration Option (Dual Degree Option) = 5,000 € Additional Fee
  • For Possible Scholarship Information See Below

Supplemental Library Access Fees
The University charges a digital library access fee for each student to cover the duration of their program of study. Master students are charged a fee of 250.00 €. Doctoral students are charged a fee of 500.00 €.

Tuition Payment
Fees are payable semi-annually in advance.

Tuition Payment Method
Tuition Fees are paid by way of 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 25% of the total standard program tuition. Eligible students must indicate their intention to request such tuition relief upon application to the program. 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.