The physics department at Technion offers two graduate degrees:

Students studying for an MSc (masters) degree must complete a series of required courses and perform original research culminating in a written thesis.  The first two semesters are usually dedicated to coursework, during which time the student finds a research advisor and devises a thesis plan. The second year is dedicated to research, under close supervision and mentoring by the faculty advisor.
With the concurrence a faculty advisor and the approval of the graduate studies committee, an excellent student can, in some cases, bypass the requirement of a written masters thesis and continue directly to his or her PhD studies.

Following successful completion of the MSc degree, a student may apply to be accepted to the PhD (doctoral) degree program.  This is an intensive program in which the student performs and publishes original scientific research in the research group of a physics professor, with an eye towards establishing the student as an independent creative researcher.  During the PhD program, doctoral students become experts in their chosen fields and gain advanced knowledge and tools crucial to their development as independent researchers.  A small amount of additional coursework is typically required for the PhD degree, as is a written thesis.

General Requirement:

MSc program
Candidates for a Master's degree who have completed a three-year undergraduate program are required to complete a 30 credits course work. Other candidates (like those who have graduated from a four-year program) will be required to take courses according to their background.

PhD program
Candidates holding a Master's degree who have been admitted to the Doctoral program are required to complete a 8 credits course work, work with a supervisor and undergo an examination on the subject of their thesis, in accordance with The Graduate School regulations.