The ERASMUS programme is a European student exchange programme established in 1987 offering university students a possibility of studying or working abroad in another European country for a period of 6 months (for the undergraduate students). The name of the project refers to Dutch Renaissance humanist and theologian Desiderius Erasmus of Rotterdam. He studied at diverse European universities and described the education as a chance for modern people. The programme is open to 33 countries: Member States of the European Union, EU candidate countries and EFTA / EEA members. Each student receives a grant which covers partly the costs of the stay abroad. Students going on exchange under the ERASMUS programme do not pay any university fees in the hosting/partner university. One of the basic rights each exchange student has is the full recognition of courses passed successfully abroad by the home university. Before leaving the home university, the participating student signs the Learning Agreement - a document that describes the programme of studies followed in the host university. At the end of the stay the host university should prepare for the student a document called the Transcript of Records that confirms the completed studies' programme and the results. In addition, students can improve their language skills by participating in one of the Erasmus Intensive Language Courses offered at the host university.

For information how to apply, deadlines, scholarships, and information on universities where you can do your exchange, please contact the International Relations Office of your university.

Erasmus Courses/Credits Offered by the Department of Economics

Ιncoming undergraduate Erasmus students at the Department of Economics of the University of Piraeus must choose courses from their department, which has signed the Erasmus agreement with the Department of Economics of the University of Piraeus, equivalent to 30 credits. If this is not the case, they must take at least 20 credits from the Department of Economics and the rest of the credits from other Departments of the School of Economics, Business and International Studies.

For further information, please, contact the International Relations Office of the University of Piraeus, Dr. Christina Kontogoulidou, office: 430, tel.: (+30) 210 4142170, fax: (+30) 210 4142347, e-mail .

Table below, presents the Erasmus courses offered to the incoming Erasmus students. 

Erasmus Courses

Title Instructor Course Description Semester/ Credits/ Hours
INFORMATION SYSTEMS A. Vozikis Education in information technology is critical for every business professional in every discipline. Today, information technology is used extensively in business to acquire, develop and communicate information, and, to assist managers with every decision they make. Regardless of a student's future occupation, they will need to understand the potential and limitation of information technology and be able to use it effectively in their work. This course will educate students in contemporary business information systems, modern computer tools, and what it means to act responsibly within current business environments. Students will study essential information systems, found in current and emerging business models. Discussion will focus on information technology, contemporary decision support tools, and standards of behavior required of personnel working with information and information technology. Students will learn about technology and its impact on the business through readings from books, and other published resources including podcasts, discussions, and independent exploration. Students will work in a team and individual environment to solve business problems using decision support systems with MS Excel. 1stsemester/ 5 ECTS / 4h
MICROECONOMICS I M. Polemis Introductory concepts, demand, supply, market equilibrium, elasticities, consumer theory, producer theory, cost theory, Perfect competition, Monopoly, Oligopoly, Monopolistic Competition. 3ndsemester/ 6 ECTS / 4h
MACROECONOMICS I C. Economidou The course is an intermediate course, which covers the theory of modern macroeconomics in detail. The course first introduces key macroeconomic concepts such as aggregate demand and supply, nominal and real GDP, inflation, economic growth, unemployment, monetary policy and exchange rates. Then we proceed with the analysis of the key markets distinguished in the economy. The working of the goods market, the financial market and the labor market will be analyzed and a model that combines the interaction of all three markets will be developed. In building the model for these markets the basic graphical and analytical tools that every macroeconomist must master will be introduced. Then we turn to the practical implications and limitations of our analysis. What is the role of governments in a market economy? Does the public sector improve or impede economic development? How do collective actors like unions and business associations affect the economic process? Step by step the course develops the more sophisticated tools used in modern macroeconomic theories, introducing expectations and the open economy extension, which can then be applied in macroeconomic policy analysis. 3thsemester/ 6 ECTS / 4h
PUBLIC ECONOMICS I K. Eleftheriou The main objective of this course is to examine the role of government in the economy. More specifically, we will seek answers to questions such as: What are the reasons for government intervention? How do economic agents react to the government’s actions? What are the benefits of various government policies? To this purpose, the course will cover topics such as public goods, externalities, collective decision making, taxation, and social security. 5thsemester/ 6 ECTS / 4h
ECONOMETRICS I C.Agiakloglou Introduction to econometrics. Scope, methodology and interpretation of econometrics models. Basic concepts of statistics, random variables and probability distributions of continuous random variables. Statistical inference. Correlation coefficient, properties and hypothesis testing. The simple and the multiple regression models, assumptions, interpretation and estimation. The coefficient of determination and the adjusted. Analysis of variance. Statistical inference and forecasting. 5thsemester/ 6 ECTS/ 4h
LABOUR ECONOMICS K. Eleftheriou Labour force, employment, unemployment in relation to economic process and inflation. Labour market and occupational projections and prospects. Influence of the new technology upon the labour market, the industrial relations system and productivity. Terms and conditions of work. Τhe determination of salaries and of wages. The system of industrial relations and relations between employees, employers and the state. Collective bargaining, collective agreements and collective disputes. Purpose, role, function and organizational structure of trade unions. 5thsemester/ 5 ECTS / 4h
ECONOMETRICS II C. Agiakloglou Basic concepts of linear algebra. The multiple regression model using linear algebra. Presentation, tests and ways of resolving the major problems in regression analysis which are: multicollinearity, heteroscedasticity, autocorrelation, no normality and error specifications problems. Dummy variables, non-linear models, distributed lag models and tests with linear restrictions. Time series analysis with smoothing techniques and time series decomposition. 6thsemester/ 6 ECTS / 4h
BANKING ECONOMICS M. Psillaki The aim of this course is to show the importance, the functioning and the structure of the banking system. In this course the notions of banking operations, banks’ risks, methods to manage risks as liquidity and interest rate risk, bank lending, alternative sources of lending, the notion and functions of the Central Bank and the European Bank will be analyzed. There are no exams. Students must write a short dissertation in a special topic and must present it in class. 6thsemester/ 5 ECTS / 4h
MANAGEMENT AND EVALUATION OF HEALTHCARE SERVICES  M. Raikou The course aims to analyze the organizational structure of the Greek NHS and other health providers-stakeholders and to present the basic concepts of management in general and of healthcare services in particular. At the same time, discusses the most current methods of economic evaluation in health care, so as to provide the most effective and efficient care. Finally, the course is supported by case studies. 6thsemester/ 5 ECTS / 4h
MATHEMATICAL ECONOMICS N. Michelakakis Linear Algebra, Convex Sets, Concave and Quasi-Concave Functions, Non-Linear Programming-Kuhn-Tucker Conditions, Consumer Theory and Duality, Producer Theory, Profit Function, Cost Function, General Equilibrium, The two Theorems of Welfare Economics. 7thsemester/ 5 ECTS / 4h
INDUSTRIAL ECONOMICS I.Fafaliou The purpose of this module is to identify the main structural features of industries, markets and firms. This module emphasizes on the sector and market structure analysis as well as on the firms’ strategic behaviour exploration. The primary task of this module is to investigate the strategic corporate practices among the industry competitors and how these practices influence the rivalry.  Specifically, this module deals with the basic methodological framework of industrial organization analysis (Structure- Conduct - Performance), current firms objectives, market concentration, entry and exit barriers, economies of scales, firms strategies based on game theory, firms collusion, pricing policies, vertical and horizontal integration, diversification, product/service differentiation, the technological change as well as the R&D of new product and services. Each section includes theory presentation and a relative to the theory case study analysis (Greek or International reality). 7thsemester/ 6 ECTS / 4h
INTERNATIONAL ECONOMICS I I. Kokores International trade theories, comparative advantage, Heckscher-Ohlin-Samuelson model, product cycle model, scale economies, imperfect competition, and international trade, strategic trade, tariffs , commercial policy,  economic integration, international trade and development, foreign direct investment. 7thsemester/ 6 ECTS / 4h
THE ECONOMICS OF HEALTH AND INSURANCE A. Vozikis The first part of this course demonstrates how basic micro and macro-economic concepts, principles, and theories can be used to think about and illuminate various health care issues. Rather than focus on a few current health care problems, attention is directed toward any array of health related topics. Students are provided with a set of economic tools to evaluate a theoretical or empirical argument relating to health or medical care. This part of the course culminates with an in-depth analysis of the structure, conduct, and performance of the Health Care System in Greece for physician, hospital, pharmaceutical, and long-term care services. The second part of this course aims to provide students with basic knowledge in general, life, health, and pension insurance both in commercial and social aspects. Topics include: market analysis of the Private Insurance sector in Greece, Greek social security system characteristics and problems, economics of life and health insurance, nature of life, health and pension insurance, types of life insurance policies, life and health insurance contract analysis, organization of commercial and social insurance framework, laws and regulations of life, health and pension insurance,  etc. 7thsemester/ 5 ECTS / 4h
INTERNATIONAL CORPORATIONS AND INVESTMENTS S.Karkalakos &P. Pantelidis Capital flows and competitiveness are interrelated through the financial markets and economic regulations. The main purpose of this course is to study the financial interactions of corporations and governments given the economic constraints and regulations. Moreover, the distribution of financial activities affects investment analysis and decisions. Finally, Foreign Directed Investments are examined at both local and aggregate level. 8thsemester/ 5 ECTS / 4h
SPECIAL TOPICS IN MACROECONOMICS C. Economidou The course Special Topics on Macroeconomics is a specialized course, which develops advanced aspects of the ‘Macroeconomics’ track. Sound knowledge of Macroeconomics, Mathematics, Econometrics, and Principles of Growth is assumed. The aims of this course are to: (i) familiarize students with the basic analytical frameworks used in modern (dynamic) macroeconomics; (ii) provide students a solid foundation in postgraduate studies in macroeconomics. Topics which are covered are expectations, open economy topics and macroeconomic pathologies. There are no exams. Instead, studies must write a term paper which consists of data selection, model estimation (with Stata) and 20 minutes presentations of their econometric analysis in class. 8thsemester/ 5 ECTS / 4h
MONETARY THEORY C. Kottaridi Money plays a crucial role in modern economies. Monetary Theory aims at studying the fundamentals of money as well as the effects of monetary institutions and policies on important economic variables within the theories of demand and supply of money. The course discusses recent developments in monetary theory (neoclassical synthesis, monetarists, neo-Keynesian theory).  The following list includes some of the major topics covered:
  • Monetary policy and financial institutions
  • Money demand
  • Money supply and the role of the banking sector
  • Monetary transmission mechanisms
  • Bank runs
  • Phillips curve
8thsemester/ 6 ECTS/ 4h  


Note: Erasmus students are highly advised to consult, in advance, the instructor of the course(s) they aim to follow. Courses of level “I” and “II” are “principles” and “intermediate” level courses, respectively. For any further clarification, please, contact the Erasmus coordinator, Dr. Maria Psillaki ().