The Study Guide of the Department of Economics of the University of Ioannina functions as a channel of information and communication with the students of the Department and with anyone interested in the organizational structure of the Department and the courses offered.

The subject of Economics has been classified, and undoubtedly belongs, to the family of social sciences. Economics have developed a creative dialogue with sciences such as mathematics, statistics, and computer science by borrowing techniques and methods but also posing new questions to them. The modern economist is called to function more as a social technician and to provide solutions with measurable results to specific problems of the economy and society. The Department of Economics of the University of Ioannina brings together professors with significant theoretical and empirical knowledge in modern economic research, which enables conveying to the students all the current trends and advancements in the field of Economics.

The dissemination of knowledge to students takes place through lectures in the classrooms, with their participation in seminars, computer labs and educational events organized by the Department. The use of modern audio-visual media as tools for more efficient teaching, the equipment of the Department with computers, the access to sources of information and to statistical and econometric programs, the continuous update of the content of the courses and of the curriculum as well as the direct way of communication with teaching staff, contribute to the smooth, efficient and rich learning experience of the students. The main goal of the Department’s teaching staff is for students to receive all the modern skills that allows them to enter the labor market and function competitively in a globalized economic environment.

Theodoros Simos

Professor, Head of the Department of Economics

Ioannina, September 2022

The M.Sc. n Economics aims to provide high-level postgraduate education in economics. The purpose of the programme is the training of scientists able to respond to the changing needs of the labor market and the economic situation in general, as well as to contribute, through research and specialization, to the promotion of economics. This purpose is achieved by providing a Master’s Degree according to international academic standards as well as by preparing a Doctoral Thesis and producing high-level original scientific research.

Το Π.Μ.Σ. απευθύνεται σε πτυχιούχους πανεπιστημιακών Τμημάτων οικονομικής κατεύθυνσης ή ομοειδών τμημάτων, καθώς επίσης και σε πτυχιούχους τμημάτων θετικών επιστημών και πολυτεχνικών σχολών της ημεδαπής ή ομοταγών τμημάτων της αλλοδαπής. Ο τρόπος εισαγωγής πτυχιούχων άλλων Τμημάτων, πέραν αυτών που αναφέρονται παραπάνω, θα εξετάζεται από τη Σ.Ε. η οποία θα εισηγείται την πρότασή της στη Συνέλευση του Τμήματος για τελική έγκριση.

The enrollment of the admitted students takes place every September through the mandatory electronic registration system, in accordance with the instructions of the Ministry of Education and Religious Affairs.

The status of a student is acquired upon enrollment in the Department and, except in cases of temporary suspension of studies or disciplinary actions, and it normally ends with the receipt of the degree.

The academic year begins on September 1 of each year and ends on August 31 of the following year. The educational work of each academic year is structured in in two semesters (1st or winter semester,2nd or spring semester). Each semester includes 13 full weeks for teaching and 3-4 weeks for exams. If, for any reason, the number of teaching hours carried out in a course is less than 4/5 of the schedule for the working days of the corresponding semester, then the course in is considered not taught.

The exact start and end dates of each semester are listed in the Academic Calendar available on the Department’s website. In exceptional cases, with the proposal of the Senate and the decision of the Minister of Education and Religious Affairs, the start and end of the two semesters can be adjusted outside of the above dates, to complete the minimum number of weeks of teaching and exams.

Every graduate student is obliged to participate during his studies normally and substantially in the educational process, as defined by the legislative framework and the decisions of the University and Department bodies.

• First semester 2022 – 2023

1st quarter:

Start of classes: Monday, October 3, 2022

End of classes: Friday, November 11, 2022

Exams: Monday 14 November 2022 – Friday 18 November 2022

2nd quarter:

Start of classes: Monday, November 21, 2022

End of classes: Friday, January 13, 2023

Exams: Monday 16 January 2023 – Friday 20 January 2023

• Second semester 2022 – 2023

MODULE SELECTION FOR THE FIRST QUARTER-SECOND SEMESTER: (UNTIL) JANUARY 27, 2023

1st quarter:

Start of classes: Monday, February 6, 2023

End of classes: Friday, March 24, 2023

Exams: Monday 27 March 2023 – Friday 31 March 2023

MODULE SELECTION FOR THE SECOND QUARTER-SEMESTER B: (UNTIL) MARCH 16, 2023

2nd quarter:

Start of classes: Monday, April 3, 2023

End of classes: Friday, May 26, 2023

Exams: Monday 29 May 2023 – Friday 2 June 2023

DISSERTATION TOPIC SELECTION: (UNTIL) JUNE 15, 2022

Holidays:

National Holiday: Friday 28/10/2022

Anniversary of Polytechnio: Thursday 11/17/2022

Christmas holidays: Saturday 24/12/2022 – Friday 06/01/2023

Three Hierarchs: Monday 30/01/2023

Liberation of Ioannina: Tuesday 21/02/2023

Apokries: Thursday 23/02/2023 – Tuesday 28/02/2023

National Holiday: Saturday 25/03/2023

Easter holidays: Monday 10/04/2023 – Sunday 23/04/2023

1st of May: Tuesday 01/05/2023

Holy Spirit: Monday 06/05/2023

Procedure

The method of selecting candidates for the postgraduate program is determined precisely each year by the Department’s Assembly, which in turn assigns to the Admission Board the responsibility of conducting the process of admission of candidates to the postgraduate program.

The selection process of the candidates takes place in two different time periods:

1. During the 1st term (March – May) those who have successfully passed at least 80% of the courses required to obtain their degree can apply. The grade point average is calculated based on these courses. A necessary condition for the inclusion of these candidates in the postgraduate program, if selected, is the completion of their undergraduate studies by September of each academic year. Otherwise, they are excluded from the postgraduate program.
2. The 2nd period of candidate selection concerns exclusively graduates and takes place in September and only for the number of positions that have not been filled in the 1st period.

Candidates who wish to join the program are required to submit the following supporting documents to the Administration Office of the Department of Economics:

1. Application form available at: https://masters.econ.uoi.gr/en/admin/structure/webform/manage/aitisi_symmetohis 
2. Copy of degree with detailed grades obtained per module. Final-year students must submit a detailed grading scheme which will also show the average grade of the courses they have successfully completed up to the date of submission of the application. The acceptance of final students to the programme is done with the condition of obtaining their undergraduate degree until the examination period of the following September.
3. Certificate of knowledge of the English Language, at least level B2.
4. Certificate of knowledge of the Greek language for foreign students (degree from a Greek University or certificate of Greek proficiency).
5. Two letters of recommendation from faculty members.

Candidates with a degree from foreign institutions must provide a certificate of correspondence and equivalence from the Interdisciplinary Organization for the Recognition of Academic Titles and Information – DOATAP, in accordance with article 34, paragraph 7 of Law 4485/2017.

Criteria

For graduates of university departments of economic direction and/or similar departments, and provided they have sufficient knowledge in Microeconomic and Macroeconomic Theory (i.e., at least two courses in Microeconomics and two courses in Macroeconomics have been taught) and in quantitative methods (at least one course in Mathematics, Statistics and Econometrics or at least one course in Mathematics and two courses in Econometrics), their entry into the master’s program shall be classified according to the following criteria:

1. Degree (at least 6): Gravity: 70%. For those selected in March, the average of the last courses at the date of application is considered.
2. Interview (with 10 as best performance): Gravity: 30%

For graduates of university departments of Science and Polytechnical direction, their inclusion in the graduate program is based on the following criteria:

1. Degree: Gravity: 70%. For those selected in March, the average of the last courses at the date of application is taken into account.
2. Interview (with 10 as best performance): Gravity: 30%

In the final evaluation of the letters of recommendation shall also be taken into account.

The Steering Committee of the Post Graduate Program (Candidates Evaluation Committee) shall draw up a complete list of applicants.

1. It rejects candidates who do not meet the minimum formal criteria.
2. It interviews candidates who meet the minimum criteria and scores them.
3. It shall prioritize candidates based on their final score and make the final selection.
4. The final list of successful candidates and any successful candidates is confirmed by the General Assembly of the Department of Economic Sciences.

Tuition fees

All students of the MSc in “Economics” are considered postgraduate scholarship holders and are exempt from paying tuition fees.

Admission

Holders of a first cycle degree from a university of higher education in Greece or similar institutions abroad of a related subject or holders of a first cycle degree from a university of higher education in Greece or similar institutions abroad in the sciences are admitted to the post-graduate program. The selection of students is made in accordance with the provisions of the law. 4485/2017 (Government Gazette 114/t.A΄/ 4.8.2017 – ΦΕΚ 114/τ.Α΄/ 4.8.2017) and the provisions of the Regulation of Postgraduate Studies. 

The number of students admitted to the MSc is set at a maximum of twenty-five (25) per year.

Organization of the Postgraduate Studies Program

General

The duration for the award of the M.Sc. diploma is set at 3 semesters. Courses take place during the 1st and 2nd semester. The first two semesters consist of four six-week teaching periods. The total number of electives offered is determined each year by the Departmental Assembly.  During the third semester the compulsory diploma thesis is written.

For the completion of the program, which totals 90 ECTS and the award of the Master of Science in Economics (M.Sc.), the compulsory attendance of eight (8) compulsory courses, common to both directions, and six (6) elective courses is required during the first two (2) semesters. 

The aim of the program is to train economists who, through research and specialization, gain a deep understanding of contemporary issues in economic thought, analyze data using modern quantitative methods and draw conclusions using Economic Theory. Along with the knowledge they acquire, students develop and cultivate their critical thinking and improve their analytical skills.

Students develop critical thinking skills, gain an understanding of both Economic Theory and statistical techniques, and acquire a solid background in both Microeconomic Theory and Macroeconomic Theory along with an understanding of their applications, with particular emphasis on data analysis through econometric methods.

Through the program, students will acquire an extremely broad set of skills in methods, techniques, and tools applicable to all disciplines and sectors. They will also be able to apply these skills to improve communication through knowledge acquisition and dissemination, knowledge organization and storage, and data analysis.

The MSc was launched in 2004, and the approximately 250 graduates to date are employed in major companies and organizations in the public and private sectors or have continued their studies at PhD level.

Finally, through the assignments and the thesis, the program familiarises students with conducting scientific research, both theoretical and applied, at a high level and according to international standards. Students become familiar with searching and collecting data from specialized databases which they then analyse using quantitative methods through modern software. 

Additional opportunities to participate in conducting original scientific research are provided through the Doctoral Program offered by the Department of Economics. The aim of the PhD Program is to produce high quality scientific research that promotes economic science. The Doctoral Program prepares candidates who wish to pursue academic, and more generally, research careers.

Course examinations are held upon completion of the course. Specifically, there are four (4) examination periods, each lasting up to two (2) weeks. The 1st examination period is in the last ten days of November, the 2nd examination period is in the third ten days of January, the 3rd examination period is in the third ten days of March and the 4th examination period is in the first ten days of June. The examination periods shall be used to examine only the subjects of the corresponding period. In the second week of each examination period, those who have failed a course(s) as defined in Article 6 shall be re-examined. 

Structure of the program

The full-time diploma in ‘Economic Analysis and Policy’ requires 3 academic semesters, while the part-time diploma requires 5 academic semesters. This time includes the preparation of the thesis. The Assembly of the Department may decide whether the offered MSc will be part-time upon request of the student concerned. The Departmental Assembly shall also decide, at the request of the student concerned, whether there are grounds for granting a suspension of studies. 

For the award of the MSc in Economics, students are required to attend and successfully complete a total of fourteen (14) courses of six (6) teaching weeks each, except for the Research Methodology course, which lasts three (3) teaching weeks, and the thesis.

The courses are taught for four (4) hours per week. The responsibility for making up courses not taken due to unforeseen circumstances rests with the teacher of each course, who must ensure that they are made up in good time, always considering the current timetable.

In case the lecturer is a visiting professor, the lectures of the course may be held in a shorter period of six (6) weeks if the total number of teaching hours is the same (24 teaching hours) and distributed over at least 5 working days. In this case, the prior agreement of the Departmental Assembly is required.  

The way of evaluating the performance of postgraduate students is determined by the lecturer and communicated to the students during the first week of classes. In addition to the final examination, the use of additional forms of assessment (research projects, participation grading, etc.) is encouraged. Grading will be on a scale of zero (0) to ten (10) with a perfect score of ten and grades will be expressed up to the first decimal place. Completion of a course is considered successful if the student receives a total grade of five (5) or higher.   

Coursework, if required, is completed during the six (6) week period and examinations in all courses are given at a commonly scheduled time. If the course is taught over a period of less than six (6) weeks, the assignments, if required, shall be done within the six (6) week period and sent to the instructor for grading.

During the September-October period, and prior to the start of the first semester courses, and depending on the discretion of the Board and the resources of the Department, preparatory courses of one (1) week in microeconomics, macroeconomics and mathematics may be taken.

Students who have failed three (3) or more courses (throughout the program) will not be allowed to continue in the program. Any student who fails one or a maximum of two courses, regardless of the semester, is required to take a re-examination in those courses. In case of failure in even one course in the re-examination, the student will be withdrawn from the postgraduate program.

Any student who has failed twice in the examination of a course or courses is examined at his/her request by a three-member committee of faculty members of the School, who have the same or a related field of study as the course being examined. The three-member committee is appointed by the Departmental Assembly on the recommendation of the Board. The lecturer responsible for the examination is excluded from the committee.

The degree of the diploma is calculated as follows: the grade of each course and the diploma thesis is multiplied by the corresponding ECTS and the sum of the products is divided by the total ECTS of the courses and the diploma thesis (90). The diploma is accompanied by a diploma supplement as required by the legislation in force. The awarding of the postgraduate diplomas takes place at the designated swearing-in ceremonies of the Department of Economic Studies according to the regulations of the University of Ioannina.  

Course catalogue

• 1st Semester (The courses of the 1st semester are all compulsory):

• 2nd Semester 

During the 2nd semester all students are required to take six (6) elective courses of their chosen specialization. The distribution of the courses by major is given below.

• Specialization in “Econometrics and Data Analysis”

Students majoring in “Econometrics and Data Analysis” must select six (6) courses from the following list of courses offered, taking into account that they may select up to two (2) electives from the “Economic Analysis and Policy” specialization:

    ** Subject to the availability of teaching staff, the following courses may be offered for selection: Computational Methods in Econometrics, Experimental Economics, Computational Methods in Dynamic Economics, Operations Research & Decision Making, Mathematics of Financial Markets, Big Data Analysis.

• Specialization in “Economic Analysis and Policy”

Students majoring in “Economic Analysis and Policy” must choose six (6) courses from the following list of courses offered, taking into account that they may choose up to two (2) elective courses of the specialization “Econometrics and Data Analysis”:

    ** Subject to the availability of teaching staff, the following courses may be offered for selection: Labour Economics, Public Economics, History of Economic Theory, Economic Development, Health Economics, Political Economy, Applied Economics, Consumer Theory.

• 3rd Semester 

In the 3rd semester of studies, postgraduate students undertake to prepare and support their thesis.

Thesis

In the 3rd semester of studies, each postgraduate student works under the guidance of a supervisor from the members of the Teaching and Research Staff of the Department, following collaboration. The thesis, which corresponds to thirty (30) ECTS, according to the regulations of the Department’s Postgraduate Studies.

Postgraduate students may work on their thesis if they have successfully completed all the courses of the 1st and 2nd semester. Specifically:

1. Students select the topic of the thesis and propose a supervisor. The thesis topics must be in the field of knowledge of the subjects taught and the research interests of the lecturers in the program. Students may choose between empirical research or development of a theoretical model. In all cases the thesis must be distinguished for its scientific excellence.
2. Depending on the proposed topic, the Committee assigns students to supervisors. The allocation of the theses per tutor and the choice of the topic is made in June of each year. The period for submitting the topic for the thesis is determined by the Board. 
3. The thesis is completed in January of the following academic year. The presentations of the theses are made at the end of the 3rd semester on dates predetermined by the Board.  
4. 4. The support of the thesis is public and is evaluated by a three-member committee consisting of the supervisor and two faculty members of the Department.     
5. The structure of the thesis (number of words, etc.) is determined by the Board.
6. The thesis corresponds to 30 ECTS.
7. The thesis is evaluated as rejected or accepted with a grade from one (1) to ten (10). If the thesis is considered as rejected, then the three-member examination committee may, by decision, refer it back for corrections or explanations which must be completed within one (1) month, at the end of which the thesis must be presented again. If the thesis is again rejected, the degree of Master of Science will not be awarded.
8. The maximum number of dissertations that each supervisor can undertake is three (3).
9. Any faculty member of the department or of another department of the same or another University may supervise a thesis if they have taught in the Program during the academic year.
10. The Board shall ensure the coordination and uniformity of grading of theses.

Specifications and Guidelines for the preparation of the Thesis

The thesis shall be in accordance with the standards of academic writing. The exact structure and final specifications of the thesis are determined by the subject of the study. The following guidelines are indicative for the convenience of students.

The thesis should contain discrete sections that frame the need for study of the subject matter in question. A typical structure consists of the following sections:

1. Introduction
2. Literature review
3. Theoretical background and research questions
4. Data and Methodology
5. Results
6. Policy proposals
7. Conclusions
8. References

The length of the thesis is between 8,000 and 15,000 words, excluding bibliographic references, footnotes, and tables. The thesis should have a properly formatted cover page as well as a table of contents, list of figures, table of diagrams, etc. inserted into the text in the automatic MS Word mode. Equations should follow ascending numbering throughout the paper. The writing language is Greek or English and is decided in collaboration between the supervisor and the graduate students. Indicative specifications for the preparation of the text are as follows:

• – Times New Roman/Calibri/Georgia font, 
• – Size 11pt and 1.15pt margins, alignment “Justify”.

Each Thesis is available in the Central Library Repository in hard copy and digital format. This facilitates the dissemination of research results to the scientific community and the public. Further processing of the research results of the Theses is encouraged with the aim of publishing them in international Working Paper Series.