NEWSLETTER - SPRING 2025

Editorial

The Department of Economics aims at maintaining research and teaching standards at the highest level. It covers a wide range of economic studies in micro-and macroeconomic analysis, corporate finance and financial markets, public and monetary economics, international and rural economics, industrial organization and strategy, economics of the environment and natural resources, economic history and relevant quantitative tools of mathematics, statistics and econometrics. 

The Department is the oldest Department of Economics in Greece with a pioneering role in organising postgraduate studies in Economics since 1978. Its priority has always been to bring together highly qualified academic staff and top quality students. Faculty members specialise in a wide range of topics in economics, with experience in some of the most internationally prominent universities and publications in top academic journals.

The undergraduate program attracts high quality students who, after successful completion of their studies, face excellent prospects for employment in  the private and public sector, including areas such as business administration, banking, finance and advisory services. Also, graduates of the program have solid foundations in economics and related tools that are normally required for admission to top graduate programs internationally.

The graduate programs of the Department are highly regarded and attract a large number of quality candidates every year.

The current newsletter offers an update of recent activities of the Department of Economics and its members, highlighting its continuing impact on both teaching and research in Economics.

Vanghelis  Vassilatos
Head of the Department of Economics
Athens University of Economics and Business

June 2025

External Evaluation of the Department of Economics Alumni

The External Evaluation of the Department of Economics was undertaken by ADIP (the HELLENIC QUALITY ASSURANCE AND ACCREDITATION AGENCY) on the 1st and 2nd of July 2019. The evaluation was conducted by Professor Chari Jannis Angelis (KTH Royal Institute of Technology), Professor Nikolaos Georgantzis (Burgundy School of Business), Associate Professor Vasileios Zervos (ISU and University of Strasbourg), Professor Ioannis Violaris (City Unity College Nicosia, Cyprus), and Mr Vasileios Samoutis (Economic Chamber of Greece). The Panel confirmed the very high standing of the Undergraduate Study Programme, where the Department attained "full compliance" in 10 out of 10 key Principles.

AUEB's Department of Economics invites its graduates to join the new platform alumni.aueb.gr

Undergraduate Studies
Undergraduate Program

Τhe Undergraduate Courses Program includes 59 courses offered by the Department, including 19  Compulsory Courses offered by the Department and 93 Free Elective Courses offered by other Departments of the University. 18 Foreign Language Courses, as well as 6 courses taught in English for visiting students through the Erasmus Program are also offered.

The Bachelor's degree is obtained by those students who successfully complete 40 courses (19 Compulsory, 8 specialization courses out of the list of courses of the selected specialization, 9 elective courses -up to 3 offered by the other Departments and 4 Foreign Language Courses) and accumulate 240 ECTS. Courses can be passed either by examination, or by exemption, or by equivalence under the Erasmus programme. Students are required to successfully complete 4 courses (I, II, III, IV) of one of the three foreign language cycles offered by the University. Students do not receive a grade for these courses, but only the qualification "pass" or "fail".

Students may be exempted from foreign language courses by submitting a certified copy of the approved ASEP Language Certificates either by the issuing authority or by a lawyer.

The program of the Department of Economic Science offers three (3) specializations:

1. Economic Theory and Policy

2. Business Economics and Finance

3. International and European Economics

In order to indicate the specialization they choose, students must be successfully examined in 16 courses, of which 12 must be compulsory. These do not include Teaching and Pedagogical Adequacy, Foreign Languages and Practical Exercise. Further information can be found here

Presentation of the undergraduate program of the Departent of Economics

The Department of Economics participated in the online informational event held on March 13, 2025, for high school seniors, where the undergraduate programs of all Departments of AUEB were presented. Assistant Professor Petros Varthalitis presented the undergraduate program of the Department of Economics

The related video (in Greek) is available below:

The academic year 2024–2025 finds our department continuing its excellent trajectory and ranking in the highest position among 14 equivalent departments of other universities in terms of admission scores. In 2024, 54.6% of successful candidates selected the Department of Economics at the Athens University of Economics and Business as their first choice.

Testimonials


I chose to study at the Department of Economics at the Athens University of Economics and Business because of its prestige and high academic quality as I wished to acquire a deep knowledge of economics and finance for my future career. So far, I have greatly enjoyed my time here. I have met some very inspiring Professors, made new friends and expanded my horizons. The courses I was taught were both challenging and rewarding. I hope the rest of my time at AUEB continues to be as fulfilling as it has been up to now. 

Christos Loukas, first-year undergraduate student in the Department of Economics

My time at the Department of Economics at AUEB was an incredibly rewarding experience. Driven by my strong interest in economics, I was motivated to engage deeply with the courses and complete my studies in 3.5 years. I followed the Business Economics and Finance major, which provided me with a solid academic foundation in areas such as corporate finance, financial markets, and strategic business decision-making. These courses not only strengthened my analytical and problem-solving skills but also sparked a deeper curiosity about the world of business and finance.What truly elevated the experience, however, were the people. I had the chance to meet inspiring fellow students and professors who were always approachable and supportive. Whether in lectures or during office hours, the faculty consistently encouraged critical thinking and helped us connect theory with real-world applications. Looking back, the Department offered much more than academic knowledge but it also offered a vibrant environment that helped me grow both personally and professionally. I would make the same choice again without hesitation.

Ilias Giannadakis, graduate of the Department of Economics (January 2025)

The Department of Economics offers a rigorous, analytical, and mathematical approach to subjects like Microeconomics and Macroeconomics, while also equipping students with practical skills through modules in Econometrics, Time Series Analysis, and Programming. With tutorial-style lectures, hands-on assignments in R, Python, and MATLAB, and collaborative projects, the program bridges theory with real-world application. Students build strong mathematical foundations early on, applying them to key economic issues. The department benefits from a diverse faculty, including both highly experienced professors and younger academics, offering a mix of mentorship and relatability. Importantly, they are open to serious student suggestions for improving the curriculum — something I’ve seen actively implemented during my time here.

Ilias Rousalis, fourth-year undergraduate student in the Department of Economics 


My undergraduate studies in the Department of Economics at AUEB provided me with a strong foundation in economic theory and analytical skills. Moreover, the rigorous academic curriculum, combined with the expertise and support of its professors, equipped me with the essential knowledge and critical thinking abilities required for my postgraduate studies in economics. Overall, the program surpassed my expectations

Konstantinos Vlachos, postgraduate student in Economics 

Internship Programme

The Internship Program offered by the Department of Economics gives to students the opportunity to work in companies, organizations and banks in the Attica region, as well as other parts of the country.

The companies and organizations where students completed their internships during the academic year 2023-24, as well as during the winter semester of the academic year 2024-25, are available here

The Program "Practical Training of the Athens University of Economics and Business for the academic years 2024-2025, 2025-2026, and 2026-2027" with Code OJPS 6018829 is implemented within the framework of the Operational Program "Human Resources and Social Cohesion 2021-2027". Alternatively, in case there are no ESF funds available in a certain period, interested parties can participate in the privately funded program "Self-financed Student Internship Project of AUEB".

In this program, funding is entirely provided by the company, which undertakes the obligation to deposit the amount related to the student's compensation and accident insurance into a bank account held by the Special Fund and Research Account of AUEB after the completion of the internship. Students can only participate once in the Department's Internship Program (either with ESF funds or with other resources).

Further information about the evaluation of applications and the duration of the internship can be found here

Scientific Coordinator: Assistant Professor Eleftherios Zacharias, ezachar@aueb.gr

Administrative Support: Antonios Roussos, roussos@aueb.gr

 Erasmus+

Under the auspices of the Erasmus+ Programme, the Department of Economics each year provides its students with the opportunity to spend part of their studies (Autumn Semester, Spring Semester, or Academic Year) in European Universities, with full recognition of their studies. 

The Department offers transparency in its curriculum and fair treatment to all its students by applying the rules of ECTS. It uses the ECTS documents, the Student's application form, the Learning agreement document and the Transcript of records ensuring academic recognition.

The students participating in the Erasmus+ Programme receive full credit for all academic work successfully carried out at any of the ECTS partner institutions and they will be able to transfer these academic credits from one participating institution to another on the basis of prior agreement on the content of study programs abroad between students and the institutions involved.

When students have successfully completed the study program previously agreed between the home and the host institutions and return to the home institution, credit transfer take place, and students continue their studies at the home institution without any loss of time or credit.

The Department of Economics has 59 active bilateral agreements  with European Universities within the framework of the Erasmus+ mobility program, and constantly expanding them in order to further enhance its international position and visibility. Further information can be found here

More than 50 students of our Department participate annually in the program and have attended courses in our partner institutions, while approximately 70 international students are welcomed annually to our Department and attend courses for one semester or for a full academic year.
 

Academic Coordinator for 2024-2025: Assistant Professor Petros Varthalitis
Erasmus+ Responsible Administrator : Anastasia-Othonia Mouriki, Special Technical & Laboratorial Personell

Testimonials


My Erasmus exchange in Barcelona was a truly life-changing experience that shaped my perspective in countless ways. Living in such a vibrant and culturally rich city allowed me to step out of my comfort zone and fully embrace new experiences. Even though everyone in the start was telling me how amazing Erasmus exchange is going to be, no one prepared me for how incredible my time there would be. The only way to know is if you experience it yourself. Traveling across Spain and beyond, meeting people from around the world, and immersing myself in the Spanish and Catalan cultures made me fall in love with Spain. Barcelona didn’t just give me memories—it gave me a new outlook on life and a second home in my heart. Having been back for a month now, I find myself thinking of the times a spent there that flew by so fast everyday. I am very lucky to have had this experience as a student, and I cannot stress enough how much it affected me as a person. I am so grateful that I did not let my fears and stress keep me away from taking that one way flight. If I could, I would do it all over again. This journey would not have been possible without the support of my home university, the Athens University of Economics and Business. I am deeply grateful to the faculty and staff for their guidance and encouragement throughout this process. As I reflect on this incredible chapter, I am excited to carry forward the lessons learned, the friendships made, and the memories created. This exchange has broadened my perspectives and inspired me to continue embracing growth and new challenges. I hope I’ll be returning to Spain one day.

Karagiannidi Alexandra, University of Barcelona, Spain (fall semester 2024-25)

 

The people you meet from all around the world, the experiences you live together, good and bad, the trips you do with those people and on your own and many more, form the lifetime experience called Erasmus+.

Kourkoutas AlkisUniversity of Maribor, Slovenia (fall semester 2024-25)

 

Spending a semester in Siena, Italy, as part of the Erasmus+ program was an unforgettable experience. Siena is a breathtakingly beautiful medieval city, full of history, art, and culture. Every day felt like stepping into a postcard, with its cobbled streets, stunning piazzas, and the iconic Piazza del Campo.
One of the best parts of my Erasmus journey was the opportunity to travel around Italy and explore nearby cities like Florence, Rome, and Venice. The connections I made with both locals and other international students made this adventure even more special. Living in Siena allowed me to experience authentic Italian culture, delicious food, and the warm hospitality of the locals. The atmosphere was magical, and I will always cherish the memories of late-night walks through the historic center, lively student gatherings, and the excitement of discovering a new country.

Erasmus was more than just studying abroad—it was a life-changing experience that helped me grow personally and academically. I encourage every student to take this opportunity and embark on their own Erasmus adventure! 

Tzimourtas Filippos Alexandros, University of Siena, Italy, (fall semester 2024-25)


My Erasmus experience in Belgium can be summed up in one word: amazing. I made incredible friends, connected with people, explored new cultures, and traveled to different countries! I embraced each culture in my own way. At first, I was nervous and unsure if I could do it, but now I'm even thinking about going on another Erasmus adventure. What I treasure most are the laughter, the friendships with people who are now waiting for me to visit them in their countries, the delicious food I got to try in each place, and of course, everything I learned at the well-known KU Leuven. Both the courses and activities were fantastic. I'm truly grateful to my home university, the Athens University of Economics and Business, for helping me make a childhood dream come true. Reaching this big goal has been incredibly fulfilling, and I strongly recommend this experience to every student!!!

Pappou Vasiliki, KU Leuven, Belgium, (fall semester 2024-25) 

Postgraduate Studies

The Department of Economics of the Athens University of Economics & Business (AUEB) pioneered in organising postgraduate studies in Economics in Greece since 1978, both at the Master’s and doctoral level. During its long history, the Department has trained highly-qualified economists, many of whom now hold academic and research positions in universities and research institutes or occupy high level managerial positions both in Greece and abroad.

The postgraduate programs of the Department are highly regarded and attract a large number of quality candidates every year. The Department offers full- time and part-time programs:

The flagship PhD program of the Department aims to prepare candidates wishing to pursue an academic or research-oriented career in the public and business sector. Our Department is a pioneer in organizing doctoral studies in Economics in Greece. Graduates of the Program are currently serving as faculty members at universities in Greece and abroad, and are employed at research institutes such as the Centre of Planning and Economic Research (KEPE), at the Hellenic Statistical Authority (ELSTAT), Bank of Greece, and Ministries as senior executives, in private banks and other public and private organizations.

Certification of the MSc in Economics by the Hellenic Authority for Higher Education with the highest score 10/10!

Τhe MSc in Economics program of AUEB received Accreditation from the Hellenic Authority of Higher Education (HAHE) with the highest score of 10/10! Based on the Report of the External Evaluation & Accreditation Committee, the MSc in Economics fully complies (10/10) with the principles of the HAHE Quality Standard for the Certification of Postgraduate Programs and the Principles and Guidelines for Quality Assurance in the European Area of ​​Higher Education (ESG), for study level 7 of the National and European Qualifications Framework.

The validity period of the certification is five years, from 20.12.2023 to 19.12.2028.

Accreditation Report 


The Graduate Programs (Masters Programs) of the Athens University of Economics and Business (OPA) hold top positions at the international level, according to the reputable international assessment body "Eduniversal Best Masters Rankings" for 2024. The said body ranked a total of 5,820 Graduate Programs from 153 countries worldwide for 2024.

The evaluation criteria of the "Eduniversal Best Masters Rankings 2024" include: a) the reputation of the programs, through the perspective of companies hiring personnel, b) the salary of the first employment after graduation, and c) the satisfaction of recent graduates, through satisfaction research conducted by Eduniversal.

The ranking of the MSc in Economics Program by scientific field - at the global level and at the level of Western Europe is presented in the following icon:

For more information: Eduniversal Masters Ranking 2024

Recent PhDs
RECENT PhDs GRADUATION DATE THESIS TITLE SUPERVISOR

Asimakopoulos Panagiotis

19-03-25 The Evolution and the Macroeconomic Impact of the Greek Tax System Reforms from 1974 until Today. Findings, Prospects and Key Recommendations Alogoskoufis, G.
Zaverdas Dimitrios 16-10-24 Lumpy Investment, Productivity and Quantitative Models Sakellaris,Pl.
PH.D. Candidates

The PhD candidates of the department of Economics can be found here.

European Investment Bank (EIB) Group Lectures hosted by MSc in Business Economics with Analytics

On the 9th and 16th of December 2024 the MSc in Business Economics with Analytics hosted a series of lectures exploring the EIB Group’s role in financing innovative, sustainable projects that promote economic growth, job creation, and environmental sustainability in Greece, Europe and beyond.

This special initiative bridges the academic and professional worlds, offering our graduate students a unique opportunity to gain valuable insights into EIB Group’s economic impact and political role, project financing and climate agenda from distinguished experts in the field.

For more information here

Econometric Game

 

Athens University of Economics and Business at Top 10 Finalists of the Econometric Game 2025

Econometric Game at the University of Amsterdam is established as the World Championship in Econometrics. The team representing Athens University of Economics and Business at the 26th Edition of the Econometric Game at the University of Amsterdam advanced to the Top 10 Finalists.

Our very own Ilias Stavrianopoulos (PhD candidate in Economics, MSc in Business Economics with Analytics – Series 2023-2024), George Malanos (PhD candidate in Economics, MSc in Applied Economics and Finance – Series 2021-2022), and teammates Lampis Tzai (PhD candidate in Statistics, AUEB & University of Lausanne) and Ioannis Stylidis (MSc in Statistics, AUEB) tackled a real-world challenge:

Forecasting and classifying grid congestion events in Germany and proposing targeted, data-driven energy policy solutions.

Their approach?

  • Machine Learning (XGBoost)
  • Custom-developed variant of a minority oversampling technique
  • Policy recommendations based on counterfactuals and partial dependency plots

They stood out among 31 top-tier universities including Harvard, Oxford, Cambridge, NUS, SNU, Sciences Po, UVA, Carlos III, Erasmus, Copenhagen, Stockholm, Maastricht.

We’re proud to see our alumni applying cutting-edge analytics to global challenges and showcasing the excellence of our program on the world stage.

Congratulations George Malanos, Ilias Stavrianopoulos, Lampis Tzai and Ioannis Stylidis for this worldclass distinction. We wish you continued success in all your future endeavors

Active Postdoctoral Researchers

 

POSTDOCTORAL RESEARCHERS POSTDOC RESEARCH SUPERVISOR
Bourazas Konstantinos Μπεϋζιανές Στατιστικές και Οικονομετρικές Μέθοδοι για την Ανίχνευση Ανωμαλιών σε Γράφους/Network-Informed Bayesian Anomaly Detection with Application to Economic Data Alexopoulos, A.
Boultzis Ilias Intergenerational Conflict and Government Debt Philippopoulos,A.
Kanigaridis Nikolaos Analysis of Transmission Mechanisms of Policyshocks Across Alternative Policy Regimes in DSGE Models Vassilatos, E.
Liontos Georgios Optimal Tax Policies in an Integrated World Philippopoulos,A
Papantonis Ioannis Financial Econometrics and Large and High Frequency Data Tzavalis, E.
Samartzis Georgios Εφαρμογές Οικονομετρίας στη Διαχείριση Χαρτοφυλακίων Περιουσιακών Στοιχείων. The Performance of the MVO Method under Structural Break Tzavalis,E.
Zaverdas Dimitrios Lumpy and Investment Productivity Sakellaris, Pl.
In Memoriam

The Department of Economics mourns the loss of Emeritus Professor Nikolaos Baltas, a distinguished scholar, esteemed colleague, and dedicated member of the Athens University of Economics and Business.

Professor Baltas served the Department with integrity and devotion from 1985 until his passing. He studied at the Athens University of Economics and Business and earned his Ph.D. in Economics from the University of Birmingham. His academic work focused on Microeconomics, Agricultural Economics, and European Economic Integration. He held the Jean Monnet Chair in EU Institutions and Economic Policy and served as Chair of the Department, as well as a member of numerous national and international scientific committees and advisory bodies.

Throughout his career, Professor Baltas made substantial contributions to research, teaching, and academic administration. His publications, participation in international conferences, and involvement in public policy made him a respected figure within both the Greek and European academic communities.

Beyond his academic achievements, he will be remembered for his kindness, humility, and the support he offered to students and colleagues alike.

We extend our heartfelt condolences to his family and loved ones.

by Assistant Professor Vassilis Sarantides

Our academic family has had another great loss. Against the route of life, our ex PhD student Sotiris Saperas has passed away.

Sotiris got his first degree in 2005, in turn did an MSc at the London School of Economics, and got his PhD from our Department just a couple of years ago. His doctoral thesis, which was on fiscal and monetary policies in general equilibrium models, was of a very high standard and he managed to complete it despite his demanding job at the Bank of Greece at the same time.

In addition to his academic and professional achievements, Sotiris was an excellent young person. Very kind, generous and always with a smile.

Our deepest condolences to his family.

Rest in peace, dear Sotiri. You will be in our hearts forever./p>

by Emeritus Professor Apostolos Philippopoulos

Selected News and Announcemnts
 
Professors Emeriti

The University awarded the title of Emeritus Professor to Professors Konstantine Gatsios and Tryphon Kollintzas for their service in teaching, research and administration in the Department of Economics. Herebelow there is a brief curriculum vitae of the new Emeriti Professors.

Professor Emeritus Konstantine Gatsios has been a distinguished member of the Department of Economics at the Athens University of Economics and Business (AUEB) since 1993, first as an Assistant Professor, then as Associate Professor (1996) and, from 2002 onward, as Full Professor. His academic journey began at the National and Kapodistrian University of Athens (B.Sc. in Economics, 1981), and then at the University of Cambridge, where he obtained an M.Phil. in Economics (1984) and a Ph.D. in Economics (1987). Subsequently, he served as Lecturer, Director of Studies in Economics, and Fellow at Fitzwilliam College (1987–1992), while also working as a Research Officer at the Department of Applied Economics.

From 2011 to 2015 he served as Rector of AUEB, leading the University through a period of considerable academic and institutional growth. During his Rectorship, among other accomplishments, the University extended its building facilities with a new construction of 5,000 m2 (2015) at Troias Str. in Kypseli and strengthened its ties with the Greek business community as well as the international academic community. It also went through a process of rebranding and repositioning (2014), critical aspects of which included the updating of the University’s emblem/logo and the launching of the University’s journal, ΟΠΑ News.

From 2015 to 2022 Professor Gatsios served as a member of the International Board of the Vienna University of Economics and Business (WU).

During his academic career, Professor Gatsios served as a Research Fellow at the Centre for Economic Policy Research (CEPR) in London for over two decades, as member of the Royal Economic Society, as an advisor at the EU (PHARE Programme) and the UN (UNIDO), and as Associate Editor of the European Journal of Political Economy (1994-1999). He has also been actively involved in numerous European research initiatives and international academic conferences.

Professor Gatsios has made significant contributions to teaching, offering lectures in Microeconomic Theory, Game Theory, Industrial Organization, and International Trade at both undergraduate and graduate levels, at AUEB and the University of Cambridge. His research focuses on International Trade Theory and Policy, Industrial Organization, Mathematical Economics, and Game Theory. He has published extensively in top-tier international academic journals.

Among his most influential scholarly works are:
– “Preferential Tariffs and the 'Most Favoured Nation' Principle: A Note" (Journal of International Economics, 1990),

– “The Welfare Effects of Incomplete Harmonisation of Trade and Industrial Policy” (Economic Journal, 1992),
– “Delegation Games in Customs Unions” (Review of Economic Studies, 1991),
– “How Anti-Merger Laws Can Reduce Investment, Help Producers and Hurt Consumers” (Journal of Industrial Economics, 1992),
– “Delegation in a General Equilibrium Model of Customs Unions” (European Economic Review, 1995),
– and “International Migration, the Provision of Public Goods, and Welfare” (Journal of Development Economics, 1999).

Professor Gatsios has also been and continues to be very active into studying and researching on Greek economic and social issues, by publishing books, participating in conferences and contributing with articles published in newspapers and non-academic journals.

Beyond his research and teaching, Professor Gatsios has left a strong legacy of leadership and service within the University. In addition to his term as Rector, he held various key administrative positions, such as Director of Graduate Studies, Vice-Chair of the Department, and Senate representative.

Professor Gatsios’s contributions to economics, higher education, and University governance have been profound and enduring. The AUEB academic community extends its deepest appreciation for his service and wishes him continued success in all future endeavors.

Professor Tryphon Kollintzas has had a distinguished academic and public career spanning over four decades. He served as Professor of Economics at the Athens University of Economics and Business (AUEB) from 1990 until his retirement in 2020, and he continues to contribute as a Research Fellow at AUEB’s Laboratory of Economic Policy. He holds a Ph.D. in Economics from Northwestern University (1981), where he also earned his M.A., following his undergraduate studies at the National and Kapodistrian University of Athens.

Professor Kollintzas is internationally recognized for his contributions to Dynamic Macroeconomics — including Economic Growth, Business Cycles, and Public Economics. His academic path includes appointments at prestigious institutions such as the University of Pittsburgh, McGill University, the London School of Economics, Northwestern University, and the European University Institute in Florence. He also held visiting researcher roles at the Federal Reserve Bank of Minneapolis and CERGE-EI in Prague.

His research has been published in some of the most prestigious academic journals, including:

–  “Public Goods, Merit Goods, and the Relation Between Private and Government Consumption” (European Economic Review, 2004),

– “On the Many Kinds of Growth: A Note” (International Economic Review, 1996),

–  “Recursive Factor of Production Interrelations and Endogenous Cycling” (International Economic Review, 1991),

– “The Symmetric Linear Rational Expectations Model” (Econometrica, 1985),

– “Import Demand with Rational Expectations: Estimates for Bauxite, Cocoa, Coffee and Petroleum” (Review of Economics and Statistics, 1984).

Beyond academia, Professor Kollintzas played a vital role in public policy and economic governance in Greece. He served as President and CEO of Attica Bank and as Director General of the Foundation for Economic and Industrial Research (IOBE) and the Centre for Planning and Economic Research (KEPE). He also served on the Council of Economic Advisors for both the Greek government and the President of the European Commission.

He actively shaped economic dialogue in Southern Europe, serving as President of ASSET and leading numerous national and European research initiatives on macroeconomic institutions, public finance, and political economy, such as CEPR and ADEMU. He has held editorial roles with the Journal of Economic Dynamics and Control, Economic Policy, and several economic policy publications.

Professor Kollintzas’s impact goes well beyond his academic publications. Through his teaching, mentorship, and active engagement in public debate, he has shaped the thinking of countless students and colleagues. His presence has been a source of inspiration in both the university and the broader economics community. We thank him warmly for his many contributions and wish him all the best in the next chapter of his journey.

 

Awards and Distinctions

For the sixth consecutive year, on March 05, 2025, the Awards Ceremony for Outstanding Teaching Performance for the academic year 2023-2024 took place in the Ceremony Hall 'Eleftherios Venizelos' of the Athens University of Economics and Business.


Assistant Professor Fabio Antoniou received the Outstanding Teaching Performance Award of the Department of Economics for the undergraduate course "Industrial Organization" and for the postgraduate course "Industrial Organization and Strategy" of the MSc in Applied Economics and Finance, for the academic year 2023-2024.


Assistant Professor Ioannis Kospentaris received the Outstanding Teaching Performance Award of the MSc in Economics for the course "Macroeconomic Theory", for the academic year 2023-24.


Associate Professor Spyros Pagratis received the Outstanding Teaching Performance Award of the MSc in Finance and Banking (full-time) for the course "Corporate Finance", for the academic year 2023-24.

 

Associate Professor Fotis Papailias (Kings College London) received the Outstanding Teaching Performance Award of the MSc in Business Economics with Analytics for the course "Data Analytics for Applied Macroeconomics and Finance", for the academic year 2023-24.


Professor Stelios Arvanitis was Visiting Professor in the Department of Economics at Queen's University in Ontario, Canada, during the winter semester of the 2024-25 academic year. 


Assistant Professor Efthymia Kyriakopoulou has been appointed as Greece's representative to the European Association of Environmental and Resource Economists (EAERE).Country Representatives are EAERE Members in good standing who are appointed by the EAERE Council to strengthen communication between the Association and individual countries. 


Adjunct Instructor Konstantinos Gkravas received The Financial Times Non-Executive Director (FT NED) Diploma.

Research Grants

Efthymia Kyriakopoulou

  • Research Grant from the European Commission, jointly with Evangelos Dioikitopoulos, under the EU Technical Support Instrument Programme, coordinated by EY: "Greening of Taxes-Contributing to the Green Transition and Socio-Economic Cohesion via the Development of a New Green Tax Reform," 2024-2025.

Vassilis Sarantides

  • Research Grant H.F.R.I for research on "Armed conflict, political preferences and reconstruction", 2025-2027. (Principal Investigator).

Elias Tzavalis

  • Research Grant EL.ID.E.K., jointly with Υiannis Bilias, Yiannis Dendramis and Dimitris Christopoulos for research on “Dynamic Econometric Modeling with Time-Varying Coefficients for Large Datasets and Applications in Economics”.

Petros Varthalitis

  • Research Grant H.F.R.I for research on "Ιntangible Leaders and Laggards in European Union and Eurozone: A General Equilibrium Analysis", 2023-2025. (Principal Investigator).

Newspaper Articles and Interviews

George Alogoskoufis

Fabio Antoniou

Panagiotis Asimakopoulos

George Bitros

Konstantinos Gkravas

Newspaper Articles

  • Metapolitefsi and Global Economy, TA NEA, 23 July 2024. This article reviews the fifty years since the restoration of democracy ('metapolitefsi') in the context of the evolution of the global monetary system, from the collpase of the Bretton Woods System to the intrinsic 'monetary peace' of the Euro Area.
  • When You Choose Something, You Reject Something Else, Kathimerini, 1 September 2024.
  • The Interdependence of Political and Economic Institutions, TA NEA, 16 October 2024.This article reviews the work "Why nations fail" of two of the year 2024 laureates in the economic sciences – Daron Acemoglu, and James Robinson – on the importance of societal institutions for a country’s prosperity. Open political institutions create a dynamic that prepares the ground for the emergence of open economic institutions. Supporting the interdisciplinary perspective of economics, particularly through the lens of international political economy, Acemoglu and Robinson emphasize the critical role of politics in shaping economic outcomes.

Financial Times Letters

  • Recalling Keynes’ Quip on Gold ‘the Best Prophylactic, Financial Times (26 February 2025).This article discusses John Maynard Keynes’ opposition to the reconstruction of the gold standard in the interwar period.
  • A Strong Dollar is the Key to Trading in Trump Era, Financial Times (16 December 2024).This article discusses several points that investors need to ponder in Trump era, which are indissolubly associated with the US dollar’s so-called 'exorbitant privilege' as it remains the global reserve currency with its share having been reduced only by a single-digit since the Great Recession.
  • Radical Uncertainty-Keynes and the Fed Chair, Financial Times (25 September 2024).This article discusses the concept of 'radical uncertainty' developed by John Maynard Keynes. The article argues that the Fed chair can only act on what he knows now, not least because central banking is an inexact science; something that Keynes long ago recognised.

Efthymia Kyriakopoulou

  • Brief non-technical summary of my article "Urban Transport Policies and Net Zero Emissions in the EU" (coauthored with Rob Hart and Tingmingke Lu, forthcoming in Annual Reviews of Resource Economics) in OΠΑ News-Το Βήμα της Κυριακής. The article highlights the significant contribution of road transportation to greenhouse gas emissions and atmospheric pollution, particularly in urban areas, and discusses a number of policies that can be used to address these challenges. 

Petros Varthalitis

  • Intangible Investment and Overall Growth in Ireland, joint with I. Kostarakos, 2023, article at Economic and Social Research Institute Series, Quarterly Economic Commentary, Autumn 2023.
Events and Conferences Highlights
    Summer Workshop on “Macroeconomic Challenges and the Role of Policy: Dynamic General Equilibrium Models”

    The Department of Economics of the Athens University of Economics and Business (AUEB) in collaboration with the Bank of Greece organized the Summer Workshop on “Macroeconomic challenges and the role of policy: Dynamic general equilibrium models”, June 2-6, 2025.

    Aim: The workshop aimed at economists who work at Central Banks, Ministries of Finance, Economic Councils, or other policy institutions. It also aimed at advanced PhD students and post-doc researchers who work on macroeconomics. It covered some of the key macroeconomic challenges in the current circumstances, and this has been done by using well-established micro-founded dynamic general equilibrium models supplemented by numerical solutions using the Matlab and Dynare toolboxes. The key idea was to start with the well-known neoclassical growth model and then added step-by-step some real-world challenges and policies within a unified general equilibrium setting.     

    Topics:

    - Introduction: Macroeconomic challenges, policy and D(S)GE models as a tool of analysis.

    - Growth, fiscal policy, fiscal sustainability, multipliers.

    - Frictions and the nexus between fiscal and monetary policies.

    - Frictions and the nexus between fiscal and monetary policies in the euro area.     

    - Climate change and the nexus between fiscal and monetary policies.   

    Location: The workshop took place in the main building of the Bank of Greece, which is located at the center of Athens, Greece.

    Timetable: The workshop started on Monday, June 2, and completed on Friday, June 6. There was a three-hour lecture in the morning of each teaching day, followed by a short lunch break and a two-hour application or an extra lecture or a seminar in the afternoon. 

    Instructors: Most lectures were given by Apostolis Philippopoulos (AUEB), while specific topics and computational sessions were taught by Vassiliki Dimakopoulou (National University of Athens), George Economides (AUEB) and Dimitris Papageorgiou (Bank of Greece). Additionally, distinguished invited speakers (TBA) contributed to the afternoon sessions with lectures or seminars.

    Prof. Evi Pappa (Universidad Carlos III de Madrid) was joining us as a speaker and presented on the topic, “DSGE Models as a Tool for Modelling and Assessing Green Transition”.

    For more information click here

      Activities of the Laboratory of Economic Policy Studies

    As part of the new seminar series titled "Modern Methods in Economic Science with Applications in Business, the Laboratory of Economic Policy Studies (EMOP) of the Department of Economics at the Athens University of Economics and Business  organized an event that took place on November 1, 2024, in collaboration with the University of Durham, UK, and the Durham Research in Economic Analysis and Mechanisms (DREAM Research Centre),

    titled: Prediction Markets: Crowdsourcing Forecasts for Firms

    Speaker: Professor Spyros Galanis, Director of the DREAM Research Centre, University of Durham

    Presenter: Associate Professor Evangelos Dιoikitopoulos, Director of the Laboratory of Economic Policy Studies (EMOP) of the Department of Economics at the Athens University of Economics and Business 


    Experiment in Prediction Markets

    As part of the research project "Experiment in Prediction Markets" implemented by the Economic Policy Studies Laboratory (EPoS) of the Athens University of Economics and Business in collaboration with the University of Durham, a research game focusing on prediction markets was held on December 2, 2024.

    Part of the experiment took place in person at the Central Building of AUEB, while its progress continued electronically. The experiment was open to the entire AUEB community: students, faculty, administrative staff, and alumni.

    The scientific directors of the project were: the Director of Laborotary of Economic Policy Studies, Associate Professor Evangelos Dioikitopoulos, and the Director of the Durham Research in Economic Analysis and Mechanisms (DREAM Research Centre), Professor Spyros Galanis, from the Department of Economics at the University of Durham.


    Lecture Series: Science and Society in Dialogue Toward a Sustainable Future

    The Laboratory of Economic Policy Studies of the Department of Economics at the Athens University of Economics and Business inaugurates a series of public lectures with the aim of enhancing accessibility to scientific knowledge, promoting scientific culture in Greece, and contributing to public discourse.

    The lecture series features Greek academics who excel at leading universities abroad, and they will present their research to the broader public.

    The purpose of this initiative is twofold:

    • To serve as a source of inspiration for students by showcasing academic role models—graduates of Greek universities—who actively contribute to the international scientific community.
    • To strengthen public discourse around critical issues in our economy and society through the well-founded perspectives of leading researchers.

    The first guest of the series was Costas Arkolakis, Director of the Greek Studies Program and Professor of Economics at Yale University. On Tuesday, April 29, he gave a lecture at the Old Parliament Building titled “New Pathways to Green Growth: Renewable Energy and International Trade”For the invitation (in Greek) click here 

    In this lecture, an innovative approach was presented to connect green production with global trade and energy transfer. With the help of modern analytical methods, the global electric grid and energy trade were mapped with the aim of quantitatively assessing the impact of renewable energy sources on global prosperity, thereby paving the way for a more sustainable future. 

    The lecture has been uploaded on YouTube

     ΕΜΟΠ First Public Lecture Summary by Mega Channel

    23rd Conference on Research on Economic Theory and Econometrics

    AUEB’s Department of Economics supports the organization of the 23rd Conference on Research on Economic Theory and Econometrics (CRETE) at the the Cultural Foundation of Tinos, Greece, July 07-11, 2025. CRETE is an annual conference covering an assortment of themes on economic theory and econometrics. The most important aspiration of this event is to support the assembly of different groups of people, seniors and juniors from Greece and abroad. The first meeting took place in 2002 and it has been successfully organized ever since for the last 23 years.

    For more information click here

    3rd Athens Winter Econ Meeting

     

    The Department of Economics of the Athens University of Economics and Business organized

     the 3rd Athens Winter Econ Meeting on December 20, 2024

    Organizing committee

    • Christos Genakos (Cambridge University) 
    • Manolis Galenianos (Royal Holloway)
    • Myrto Kalouptsidi (Harvard University)
    • Ioannis Kospentaris (Athens University of Economics and Business)
    • Theodore Papageorgiou (Boston College)

    Speakers

    • Tasos Karantounias (University of Surrey)
    • Myrto Kalouptsidi (Harvard University)
    • Ioannis Laliotis (University of Patras)
    • Dimitris Papanikolaou (Kellogg School of Management, Northwestern)
    • Plutarchos Sakellaris (AUEB)
    • Elena Simintzi (Kenan-Flagler Business School, UNC)
    1st Student Workshop on Dynamic Macroeconomics, AUEB

     

    On the 12th of December 2024, the 1st Student Workshop on Dynamic Macroeconomics was held at the Troias Building. This workshop was entirely co-organized by Erasmus students and undergraduate students from the Department of Economics.

    The event began with an opening address by Ms. Kleopatra Nteliou from the AUEB Erasmus Office.

    The program featured three invited talks:

    • Antzelos Kyriazis from the Global Macro Department of Franklin Templeton, USA, he connected macroeconomic theory with real-world practical applications from a research analyst’s perspective.
    • Soritios Saperas✝ from the Bank of Greece, presented findings from the Household Finance and Consumption Survey for Greece and the Euro Area.
    • Stylianos Gogos from Eurobank - presented an overview of the Greek economy and discussed its future challenges.

    Erasmus and AUEB students presented their research on topics including business and monetary cycles, fiscal sustainability, minimum wage policies, monetary and exchange rate policy in the Swiss economy, and the role of institutions in economic development.

    The organizing committee, composed of Balatsouras Ilias, Chairopoulou Alexandra, Grammenidis Evaggelos, Papangeli Maria, and Rousalis Stylianos, collaborated with Erasmus and AUEB students. This workshop was the outcome of the courses Public Economics, Monetary Theory and Policy, and Macroeconomic Theory II taught by Assistant Professor Petros Varthalitis.

    The presentations and the associated replication files are available here

      

      Organization of Workshops and Conferences

      Fabio Antoniou

      • Workshop "On the origins of state capacity and its implications on the contemporary economy and economic policy" responsible for the section "Industrial Organization Theory Workshop", 23-24 October 2023, Athens. . The workshop was funded by HFRI.

      Ioannis Kospentaris

      Efthymia Kyriakopoulou

      Apostolis Philippopoulos

      • During 1-5 April 2024, he taught a Workshop on "Fiscal and monetary policies in general equilibrium", co-organized by the Bank of Greece and the Department of Economics of Athens University of Economics and Business.

      Plutarchos Sakellaris

      Research
      Refereed  Publications of Staff Members

      George Alogoskoufis

      Fabio Antoniou

      Stylianos Arvanitis

      • Limit Theory of Martingale Transforms with Heavy-Tailed Noise (with Louka, A), 2024, accepted for publication at the Theory of Probability and Mathematical Statistics, AMS.
      • Block Empirical Likelihood Inference for Stochastic Bounding: Large Deviations Asymptotics Under m- Dependence (with Topaloglou, N.), 2024, accepted for publication at the Journal of the Korean Statistical Society.
      • Asymptotics of a QLR-Type Test for Optimal Predictive Ability, 2025, accepted for publication at the International Journal. of Portfolio Analysis and Management.
      • Distributionally Conservative Stochastic Dominance via Subsampling, 2024, Statistical Analysis and Data Mining, forthcoming.

      George Bitros

      Κonstantinos Gravas

      • Asymmetries in post-war monetary arrangements in Europe: From Bretton Woods to the Euro Area (with Alogoskoufis, G. and Jacque, L.), The Journal of Economic Asymmetries, 28, 2023.  https://doi.org/10.1016/j.jeca.2023.e00320.

      Ioannis Kospentaris

      Efthymia Kyriakopoulou

      Apostolis Philippopoulos

      • From Debt Arithmetic to Fiscal Sustainability and Fiscal Rules: Taking Stock and Policy Lessons (with Economides G., Koliousi, G.and Miaouli, N.), 2024, Journal of Economic Asymmetries, forthcoming.
      • Aggregate and Distributional Aspects of Rent-Seeking Activities in a DSGE Setup (with Christou T., and Vassilatos, V.), 2025, Constitutional Political Economy, forthcoming.

      Plutarchos Sakellaris

      Vassilis Sarantides

      • "Votes for Women” on the Edge of Urbanization (with Kammas, P.), 2025, Journal of Population Economics, 38(1), 1-35.
      • The Lernaean Hydra of Populism (with Kafe, A.and Logothetis, V.), 2025, European Journal of Political Economy, 102645.
      • Partisan Politics in Greece from 1974 to the Economic Crisis and Beyond (with Economides, G., Kammas, P. and  Konstantinou, P.), 2024, CESifo Economic Studies, 70(2), 125-153.

      Elias Tzavalis

      • Addressing Regressors' Endogeneity and the Identification of True Parameters (with Christopoulos D. and Smyrnakis, D.), 2025,  Econometrics and Statistics, forthcoming.

      Petros Varthalitis

      • Growth Effects of Fiscal Policy: An Application of the Unobserved Common Factor Model (with Kostarakos,I.),  2024, Oxford Economic Papers. https://doi.org/10.1093/oep/gpae045
      Books - Book Chapters

      George Alogoskoufis

      • "State and Economy in Modern Greece: Critical Interactions from 1821 to the Present," Chapter 3 in Kakridis, A. (ed.), 200 Years of the Greek Economy: Between the State and the Market, Bank of Greece (Centre for Culture, Research, and Documentation), Athens, (2024).
      • "The 1967 Dictatorship and Macroeconomic Imbalances in Greece: The Beginning of the End of the Post-Civil War Economic 'Miracle'," Chapter 1 in Christodoulakis, N. (ed.), The Economics of the Dictatorship, 1967-1974, Hellenic Parliament and Athens University of Economics and Business, Athens, (2024).
      • "Before and After the Political Transition of 1974: Institutions, Politics, and Economy in Greece," Gutenberg Publications, Athens, p. 431 (November 2024).
      • "Prospects of the Global, European, and Greek Economy," in the publication, State Budget: Positions of the Economic Chamber of Greece, OEE, Athens, December 2024.
      • "The Post-the Political Transition of 1974 Period and the Greek Economy," Chapter 11 in Kostis, K. and Rizas, S. (eds.), Stories of the Metapolitefsi, Patakis Publications, Athens, (2025), pp. 215-269.

      George Bitros

      Konstantinos Gκravas

      • Book review of "How Adam Smith Can Change Your Life. An Unexpected Guide to Human Nature and Happiness" (Russ Roberts), Kastaniotis publications 2024.
      • "The philosophy of emotion", The Books’ Journal, 162 (March 2025), pp. 72-73. Book review of “Julie; or, The New Heloise” (Jean-Jacques Rousseau), Gutenberg publications 2024.

      Efthymia Kyriakopoulou

      • Scientific Editing of Environmental and Natural Resource Economics: A Contemporary Approach, Jonathan Harris, Brian Roach—International Student Edition, 5th Edition. Scientific Editing in the Greek Edition, published by Tziolas Edition.
      Recent Invited Talks

      Fabio Antoniou

      • Seminar at the Department of Economics, University of Vienna.

      Konstantinos Gravas

      • Monetary Policy:The Interaction with Fiscal Policy, the Risk of Fragmentation, and the Challenges of Effectiveness in a Permacrisis Environment. Panel discussion at the 8th ECB Simulation Conference (organized by Get Involved), 22 November 2024.

      Stylianos Arvanitis

      • University of Ioannina, Department of Economics, May 2023.

      Yiannis Dendramis

      • Conference on: Interventions to address the economic and social consequences of the COVID-19 pandemic, AUEB, Athens, Greece, Paper presentation: Time Varying Three Pass Regression Filter.

      Ioannis Kospentaris

      • Université Catholique de Louvain
      • University of Mannheim
      • UC Irvine (brown-bag)
      • University of Ottawa
      • University of Cyprus

      Efthymia Kyriakopoulou

      • Research Seminar, University of Potsdam, December 2025.
      • Greening of Taxes Peer-Learning Conference in Athens, Institute for European Environmental Policy, April 2024.

      Lydia Papadaki

      • ETF Skills Lab Network of Experts live event "WoW - Unveiling the Colours of the Economy", Turin, Italy, 9-11 October 2024.
      • SeaTecHub Breaking the Surface Workshop, Biograd na moru, Croatia. 29 September – 6 October 2024.
      • BRIDGE-BS Summer School, online, 17 September 2024.
      • EU Climate Pact event on “Green Skills for a Sustainable and Environmentally-Conscious Economy and Society”, online. 26 June 2024.

      Plutarchos Sakellaris

      • "MPCs Estimated from Tax Lottery, Survey and Administrative Data" presented at: SciencesPo, March 2025.
      •  University of Cyprus, October 2024.

      Vassilis Sarantides

      • Seminar at the Bank of Greece.

      Petros Varthalitis

        Refereed Publications of PhDs, PhD Candidates, Postdoctoral Researchers

        Panagiotis Asimakopoulos

        Ilias Boultzis

        • Preying on the Young: Intergenerational Conflict, Rent Seeking and Growth, 2025, European Economic Review, 173, in press,104959.

        Lydia Papadaki

        • Bridging the Gaps for a Thriving Black Sea Blue Economy: Insights from a Multi-Sectoral Forum of Turkish Stakeholders. Frontiers in Marine Science (with Seyhan, K., Dürrani, Ö., Akinsete, E., Atasaral, Ş., Özşeker, K., Akpınar, H., Kurtuluş, E., Mazlum, R.E., Koundouri, P. and Stanica, A.) 2025, 12, p.1491983. https://doi.org/10.3389/fmars.2025.1491983
        • A Review of Primary and Cascading Hazards by Exploring Individuals’ Willingness-to-Pay for Urban Sustainability Policies. City and Environment Interactions (with Halkos, G., Aslanidis, P. S., Landis, C. & Koundouri, P.), 2024, 100178. https://doi.org/10.1016/j.cacint.2024.100178
        Recent Conference Presentations

        Fabio Antoniou

        • Annual Conference of the European Association for Research in Industrial Economics, EARIE, Amsterdam 30 August-01 September 2024.
        • 12th Oligo Workshop, Rethymo June 6-8, 2024.

        George Bitros

        Ilias Boultzis

        • Debt and Growth: Friends or Foes? A Political Economy Approach, CRETE 2024 Conference.

        Ioannis Dendramis

        • International Association for Applied Econometrics, presentation of the paper: Time Varying Three Pass Regression Filter, Thessaloniki, 25-27 June, 2024.

        Konstantinos Gravas

        • From the Euro Crisis to the ‘Polycrisis’ - Lessons for (and from) Greece, International Risk Management Conference organized by Deutsche Telekom’s Risk Management team. 

        Efthymia Kyriakopoulou

        • 14th European Meeting of the Urban Economics Association, Humboldt University, Berlin, March 2025.
        • 29th Annual Conference of the European Association of Environmental and Resource Economists - Leuven, Belgium, July 2024.
        • 23rd Journées Louis-André Gérard-Varet (LAGV) Conference in Poblic Economics, Marseille, June 2024.

        Ioannis Kospentaris

        • Midwest Macro Spring 2024, Rethinking Economic Theory 2024.

        Lydia Papadaki

        Apostolis Philippopoulos

        • Seminar at the Bank of Greece, January 2025: "Debt Repayment of EU Bailout Loans: The Case of Greece".

        Plutarchos Sakellaris

        • "MPCs Estimated from Tax Lottery, Survey and Administrative Data," presented at: NBER Economic Fluctuations and Growth Winter Meeting, San Francisco, February 2025.
        •  Athens Winter Economics Meeting, December 2025.

        Vassilis Sarantides

        • 18th Workshop on Political Economy, CESifo Dresden.
        • 8th International Conference on The Political Economy of Democracy and Dictatorship, February 2024, Muenster, Germany.

        Petros Varthalitis

        • The ASSET, 1st-2nd November 2024, Venice, Italy.
        • The IMAEF, 17th-19th June 2024, Kefalonia, Greece.
        • The 17th annual Dynare conference, 19th-20th October 2023, Central Bank of Malta, Malta.
        Research Seminars

        This weekly seminar series is organized jointly by the Department of International and European Economic Studies and the Department of Economics of the Athens University of Economics and Business (AUEB).

        Seminars are held on Thursdays, 3:30-4:45 pm in room A36, 3rd floor, Antoniadou Building, Patission 76 (unless otherwise noted). The academic year 2024-2025 our series hosted 35 speakers.

        Papers and Research Seminars Announcements are posted at
        https://dept.aueb.gr/en/econ/content/research-seminar-series

        Organizers for the Department of Economics:

        Vangelis Vassilatos, Angelos Alexopoulos,Timos Athanasiou, Ioannis Kospentaris

        Organizers for the Department of International and European Economic Studies:

        Spyros Skouras & Nikolaos Topaloglou 

        Administration support: Zervopoulou Fani (fani.zervopoulou@aueb.gr)

        Recent Working Papers


        The Working Papers in this series circulate mainly for early presentation and discussion, as well as for the information of the Academic Community and all interested in our current research activity.

        Working Papers are posted at 
        https://dept.aueb.gr/en/econ/content/working-papers

        Editor: Evangelos Vassilatos
        Associate Editor: Vassilis Sarantides
        Prepared by: Fani Zervopoulou