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Click here to see the guide of the Student Guide for the Department of Economics.
The Division has the responsibility for the following courses, either by itself or in collaboration with other divisions:

Compulsory Courses (20 Courses)

  • International Economics (ECO303)

    Tutors: Professor Sarris A., Associate Professor Kosteletou N.

    The scope of this course is to cover the basic concepts and analytical tools which are essential for the understanding of the developments in international transactions of goods and service, all around the world. The primary aim is the description of the nature of trade flows, their causes and consequences on the internal economy. The material to be covered starts with the traditional theories of trade of classical writers and ends with most the recent debate about the role of state intervention in international transactions. Examples from the real economy and references to facts, figures and institutions make the context of this course particularly interesting.


  • Political Economy of Development and Growth (PEC301)

    Tutor: Associate Professor Tsipouri L.

    The purpose of the course is to analyse modern and classic theories of economic of growth and development. The concept of economic development and its basic characteristics are explored and so are poverty, development challenges, long term growth trends, indicators and empirical methods. This course gives an extensive introduction to the economic problems of the less developed countries. Individual topics include, the role of agriculture and industry, education, employment, migration, capital accumulation, and income distribution. The syllabus further explores the concepts of new growth theory, exogenous and endogenous economic growth models. Finally, the course touches upon issues related to income inequality and economic growth, funding, innovation and development dynamics, productivity and convergence / divergence, economic backwardness, knowledge economy, development finance and the role of institutions.


Basic Electives (4 out of 12 courses)

  • Macroeconomics of Growth (ECO314)

    Tutor: Professor Theoharakis N.

    The Macroeconomics of Development is a course on modern economic growth. It introduces students to the mathematical techniques of growth models, the stylized facts of economic growth, the theory and empirics of convergence, technical progress, the economics of ideas and models of exogenous and endogenous economic growth.


  • Political Economy of Globalization (PEC311) (not for the academic year 2013-2014)

    The major aim of this new course is to offer a solid analysis of the current trends in the international political economy and in particular of the developments in the international trade, migration, technology, the multinational firms, the global financial markets as well as the environment.


Module Courses (At least 4 courses in one out of five Modules). The Division of International Economics and Development owns the Module of “Development and Economic Policy” as well as one course on the Module “Applied Economics”

  • Economics of Transformation and Development (ECO421)

    Tutor: Professor Katseli L.

    The course builds on the material covered in the course entitled “The Political Economy of Growth and Development” ( PEC 301). It focuses on the dynamics and the determining factors of productive and technological transformations at the global, national and regional levels , the policy measures available to enhance competitive advantages and national competitiveness of a country in the international division of labor, the available financial instruments and tools as well as the prospects and the changing architecture of development cooperation. The analysis will be enriched with actual examples from the international , European and Greek experience.


  • European Economic Integration (ECO423)

    Tutor: Associate Professor Tsipouri L.

    The purpose of the course is to allow students to understand the procedure of the European Economic Integration and its influence on the economic performance of the Member States and on the regional disparities of the regions of Europe.


  • Economic Policy in Greek Economy (ECO424)

    Tutor: Professor Petrakis P.

    The course aims to show the transformations of the Greek economy through various policies or procedures, their consequences (positive or problematic), the problems encountered, and in general the changes made and the position and the prospects of Greece in the European and global system today. In addition, students will understand what economic tools (even some non-financial information) are important for assessing the economic dynamics and economic policy of Greece.


  • Analysis of Investment Decisions (ECO426)

    Tutor: Professor Petrakis P.

    The course Evaluation and Investment Decisions is divided into two main parts. The first part focuses on understanding the process of making business - investment decisions under conditions of certainty. In particular, it analyzes the concept of time and its importance in investment decisions using appropriate valuation methods. The second part presents the analytical process of making investment - business decisions under conditions of uncertainty. In particular, we analyze alternative uncertain situations, using statistical methods and describe the capital assets pricing model (CAPM) and the concept of financial structure.


  • Economics of Technology (ECO453) (not for the academic year 2013-2014)

    The course aims to analyze the role of technological change, technology and innovation as key factors in the development, dynamics and functioning of modern economic and social systems at a national and supranational level.


  • Economic Policy (ECO422)

    Tutor: Professor Katseli L.

    The course is a natural sequence to “Macroeconomic Theory” (ECO212). It focuses on the challenges of applied economic policy in an open economy, with special reference to the choice of policy goals and priorities, the nature of existing constraints, the interaction of interest groups and potential obstacles or delays in policy implementation. The challenges in the policy process are analyzed by policy stage, including the diagnosis of macroeconomic imbalances and structural problems to be addressed, the selection of policy measures, the legislative process, the implementation stage, the monitoring and evaluation of policy outcomes and the redesigning of policy measures . At each stage, the basic players are identified as well as the economic, political, social and organizational factors which influence the selection of policy measures and/or the policy outcomes . The above methodological approach is then used to evaluate alternative policy approaches and measures to ignite growth and combat unemployment, to tackle fiscal imbalances, to enhance competitiveness and to manage debt crises ,which have been pursued in different countries including Greece over the last years. Tutor: Louka Katseli


  • Socio-economic Evaluation of Projects and Policies (ECO492)

    Tutors: Professor Mergos G., Adjunct lecturer

    The objective of this course is to present the basic concepts, the method and the practice of Cost Benefit Analysis in examining the impact of projects and policy measures on economic welfare. The course is structured in four modules of three weeks each. The first presents the basic concepts of project and investment appraisal. The second module presents the theoretical base of CBA, such as welfare economics, the role of the government, market failure and shadow pricing. The third module covers the practice of CBA in the evaluation of projects from the economic and social point of view, estimation of shadow prices, risk analysis, income distribution effects and the social rate of interest. The fourth module covers recent advances in CBA, such as evaluation of non market goods and services (with focus on environmental goods and services), project viability in the market environment, project financing and private provision of public services. Emphasis is given during the course on practical applications and cases studies.


Free Elective Courses

  • Applied Development Economics (ECO480)

    Tutors: Professor Sarris A., Associate Professor Kosteletou N., Adjunct lecturer

    The course aims to present the concept of economic development through applied examples and calculations. There are provided examples related to growth and development of the Greek economy. At the same time presents the analysis and findings of specific research work carried out on these issues which make approaches in international level.


  • Special Issues of Economic Development: Entrepreneurship (ECO481)

    Tutor: Professor Petrakis P.

    The course “Special Issues of Economic Development: Entrepreneurship” aims to supply students with appropriate safeguards in order to understand how the business environment in Greece operates, what is necessary to establish a new company and how it can be viable and competitive, what difficulties arise both during its establishment and operation and how they are treated promptly and effectively, and the contribution of entrepreneurship to economic development and social welfare. Also during the course, students learn the concept of business planning and how to make business plans or create their own virtual business. In addition, students are given scientific papers published in international scientific journals, in order to acquire additional knowledge and skills.


  • Human Resources and Development (ECO482)

    Tutors: Professor Katseli L., Adjunct lecturer

    The effective utilization of human resources is a determining factor of economic growth and development. The purpose of the course is to analyze the economic and institutional workings of the labor market and the role of the human factor in the dynamics of economic transformations. Standard economic analysis is thus enriched with modern principles of human resource management both at the enterprise and national levels. In suchcontext, innovative practices for the mobilization of human resources, greater empowerment, skill enhancement and change management will be presented , including the role of leadership and innovation in the promotion of entrepreneurship. At the national level, policies to upgrade human resources and promote investment in social capital , most notably in the areas of health , life-long education and cultural services will be evaluated; so will policies to combat unemployment and manage effectively migration flows.


  • Development Tools of Financing. Replaced by the course Human Resources and Development (not for the academic year 2013-2014)
  • Regional Economic Development (ECO484)

    Tutors: Professor Katseli L., Adjunct lecturer

    This course aims at serving as an introduction to the principles of local and regional development, byadopting an interdisciplinary approach,in the context of ongoing global and European transformations. Basic concepts pertaining to local and regional development will be presented, followed by special characteristics and interconnections formed across the local, regional, national and global levels of spatial integration. The challenges of subsidiarity, effective governance, policy coherence, synergies and institutionalmodernizationwill be discussed. The main theories and models of local and regional development are developed, with special emphasis given on location and agglomerationtheories, the New Economic Geography and the role of learning,knowledgeand innovation in the promotion of “smart development”. In the context of changing paradigms pertaining to local and regional development, policies that enhance local competitive advantages and promote regional competitiveness are emphasizedand evaluated, with special reference to the role of SMEs, of entrepreneurship and cluster formation. Finally,multipleEuropean case studies are examined, including the experience of “Kallikratis” in Greece, with a view to identify best practices, especially with respect tothe mobilization of local endogenous resources, the use of innovative planning and financial tools and policies, including GIS, the support of social entrepreneurship, the effectiveness of local governance and management of fiscal resources.


  • Special Issues of International Economics (ECO485)

    Tutor: Associate Professor Kosteletou N.

    The Special topics in International Economics is an optional course. It is designed for students interested in broadening their knowledge in international economics from the macroeconomic point of view. For this purpose, a theoretical framework for the determinants of the exchange rates, the current account imbalances and international capital movements is developed. This framework provides the basis for the discussion of policy issues such as the effectiveness of fiscal and monetary policy, exchange rate and inflation problems and balance of payments crises. Additionally, the historical background of the evolution of the international monetary system is descried. Finally, the basic concepts of economic and monetary unions are analyzed with special reference to the EMU.


  • Agricultural Economics and Policy (ECO491)

    Tutor: Professor Mergos G.

    This course has the twin objective, first to make students familiar with the use of the tools of micro-economic analysis in addressing real world policy and government intervention issues and second to present in a coherent fashion an overview of the agricultural policies in developed and developing countries. The course is structured in two modules. The first, about six weeks, presents the theoretical analysis of the sector and covers subjects such as the structural change of a developing economy, the diminishing significance of the agricultural sector in the course of development, food demand analysis, production structures, technological change, price formation and market structures, international markets and agricultural commodity exchanges. The second module, of about six weeks also, focuses mostly on policy and government intervention and its effects, and covers subjects such as the agricultural problem in industrial societies, the role of government, state intervention in agriculture and its effects on markets, prices and incomes, the institutional framework of agricultural policy, alternative measures of government intervention, and the interaction of agricultural policies through the international market and the trade debate between developed and developing countries in the World Trade Organisation.


  • International Economics (Erasmus)

    Tutor: Associate Professor Kosteletou N.

    The scope of the course is exactly the same as for the course International Economics (ECO303).