Courses

The purpose of this course is to introduce students to basic concepts of microeconomics and their application in the business environment. Upon completion of this course unit, students should:

• Understand the basic principles of economic theory
• Understand the concept of demand and supply theory
• Apply techniques and tools to improve decision-making
• Understand market structure

Course contents

• The nature and scope of microeconomics
• The concept of the market
• Factors of production, production possibilities
• Demand theory
• Supply theory
• Elasticities (Price elasticity of demand, price elasticity of supply).
• Market structure

The purpose of this course is to introduce students to basic concepts of macroeconomics and their application in the business environment.

Course contents

• National accounts
• Consumption
• Investment
• Income equilibrium, multipliers
• Fiscal policy
• Money & monetary policy
• General macroeconomic equilibrium
• Inflation and unemployment
• Open economy macroeconomics

This course is designed to develop the concepts of the elements that make up the following financial statements: Income statement, statement of changes in shareholder’s equity and balance sheet.

Upon completion of this course unit, students should:

• Understand the informative content of the income
• Understand the informative content of the statement of changes in shareholder’s equity

Course contents

• Financial statements
• Classified balance sheet
• Income statement – multiple steps

Economic activity, public and/or private, in each country and time period takes place within an overall framework of principles, rules and regulations. This framework (institutional and de facto) largely shapes the economic system. There are many possible economic systems, in theory and in practice. The context of the prevailing economic system at any given time determines the role of the state in the economy, while, at the same time, through its institutions, the scope of intervention in the private economy is subject to certain restrictions. All of the state’s interventions and regulations in the economy through legislation can create a network of incentives and/or disincentives with significant effects on economic activity. In modern economies, the absence of effective regulation significantly affects production, the price level, employment, quality and innovation. In many cases, the intensity of competition produces desirable results, but in some cases, increased competition can lead to inefficiencies and this requires appropriate policy aimed at managing competition and, in some cases, direct regulation. This course, which aims to introduce students to the relationship between law and economics as a whole, will describe the various economic systems, the concept of an economic constitution, the interdependence between law and economics, the different market structures in terms of real competition in relation to economic efficiency, etc. Special attention is paid to structural and behavioural strategies that can hinder effective competition and cause market failure. Understanding the causes of market failure helps inform policy aimed at addressing the problems that exist in various markets. In order to facilitate an in-depth understanding of the course, it is necessary to refer to case studies on both a national and international level.

Course contents

1. Economic functions – economic system – economic constitution – economic framework
2. Regulatory role of the state in the economy, reasons for intervention, policy or market failure?
3. Objectives and means of state intervention in the economy – fields of regulatory and interventionist economic policy – economic policy bodies at international, European, national and regional level – distribution of responsibilities
4. Relationship between law and the economy and the concept of institutional and structural policy
5. Regulatory policy (definitions, regulatory process, theory of regulation – natural monopolies and regulatory framework, relationship between regulatory policy and competition policy, theory of regulatory capture)
6. Concept of natural monopoly, causes and consequences. Intervention mechanisms in natural monopolies
7. Monopoly regulation under symmetric and asymmetric
8. Market regulation tools (rate of return regulation, incentive regulation, yardstick competition)
9. Regulatory framework in Greece and the European Union
10. Regulatory authorities (role, composition, objectives and policy instruments)
11. Regulatory policy in financial services, energy, electronic communications and transport industries (case studies)
12. Regulation of private monopolies, Privatisation/privatisation and liberalisation of markets, longitudinal overview in European Union and

The economic analysis of law emerged as an interdisciplinary approach to law in the early 1970s. It is based methodologically on the ideas of two of the leading economists of the twentieth century, R.H. Coase and Gary Becker. Coase, in his renowned 1960 paper (“The Problem of Social Cost”) showed how law is instrumental in correcting market failures. Gary Becker was the first economist who used the tools of microeconomics in studying human behaviour and especially human choice in non-market settings: politics, crime, mating, family. These ideas brought a revolution in economics but it took a lawyer for them to become influential in legal theory. Richard Posner (the most-cited scholar in legal history) was the one who managed to apply these theories in almost every area of the law in the first edition of his path-breaking treatise Economic Analysis of Law (1973). Another important figure was Guido Calabresi, a legal scholar who used economics to study tort law in 1970. Since then, at least seven economists were awarded the Nobel prize for their work on the economics of institutions (including Becker and Coase) whereas the influence of law & economics on American legal science was immense.

The influence of law & economics on European law is more modest. However, it is obvious in major decisions of the European Court of Justice, in the EU legislation on antitrust, consumer protection and regulation. The introduction of regulatory impact assessment on both the EU and national levels was illustrative of this influence. Moreover, every major law school in Europe offers one or more courses in L&E and there are now many successful graduate programs in law & economics but also law & finance.

The importance of a basic knowledge of economics for the study of law is self-evident. This course will introduce the basic elements of an economic approach to individual behaviour. A good lawyer should understand how society and markets work before attempting to regulate them or interpreting the law which regulates them. The tools of economics can help them see the law as an incentive structure, with its own logic, with successes and failures in channelling human behaviour. They can help them design efficient legal rules and apply them in a way that is not indifferent to real outcomes.

We are going to use the concepts and tools of economic analysis in various areas of the law with an emphasis on the economics of contracts, regulation, antitrust, environmental law, family law and criminal law.

Course contents

• Introduction to the course
• Law & economics tools
  • Coase Theorem
  • From Coase to Posner and Calabresi
  • Neo-institutional economics
  • Why efficiency? (The Posner & Calabresi Dworkin debate)
  • A view from the cathedral
• The economics of private law
  • Contracts
  • Torts
• The legal framework for economic development
  • Rule of law & economic growth
• The economic approach to non-market behaviour
  • Crime & criminal law
  • The economics of mating, marriage, family & divorce

In modern economies, the nature of competition and the organisation of firms in markets are key factors affecting prices, quality, and innovation. In many cases, intense competition produces desirable results, but in some cases increased competition can lead to inefficiencies and this requires appropriate policy aimed at managing competition and, in some cases, direct regulation.

As economic competition needs a legislative framework in order to be effective, the course examines the existing EU and Greek competition law (i.e. Articles 101, 102 TFEU and 1, 2 Act 3959/2011) as well as its enforcement by the European and the Hellenic Competition Commission. In addition, the course provides a comprehensive overview of the Greek law concerning Unfair Competition (Act 146/14) and the Unfair Commercial Practices Directive (2005/29/EC).

Moreover, the course examines the basic principles governing competition policy and the regulation of markets with monopoly power. In an interdisciplinary manner, the economics of the transition from a monopolistic to a competitive market structure are further examined based on the current regulatory framework. The protection and promotion of competition is presented not only as an economic end in itself, but mainly as an important tool for achieving economic integration and market efficiency. The growth of businesses through mergers and acquisitions to meet increasing competition and exploit economies of scale makes management decisions complex and requires appropriate and rational strategy formulation. At the same time, the main models of liberalisation and the axes of competition policy are examined with an emphasis on markets under liberalisation (telecommunications, energy, transport).

This course will enable students to study the theory of industrial organisation in a practical context while having the opportunity to analyse policy issues arising in various sectors of the economy. The course will describe different market structures in terms of real competition, in relation to economic efficiency. Particular attention should be paid to structural and behavioural strategies that can hinder effective competition and cause market failure. Understanding the causes of market failure helps inform policy aimed at addressing the problems that exist in various markets. To facilitate an in-depth understanding of the topics at hand, it is necessary to refer to case studies on both the national and international level. The purpose of this course is to analyse issues of competition policy and market regulation from both a theoretical and an empirical point of view.

Upon completing this course, students should have a thorough understanding of Greek unfair competition law, as well as a substantial knowledge of the EU and Greek competition rules regarding anti-competitive agreements and abuse of a dominant position. In addition, students will be able to analyse and critique key rulings of the Court of Justice of the EU as well the Greek the relevant Greek jurisdiction.

Course contents

• Introduction to the policy of free and unfair competition
• The relationship and the differences between free and unfair competition
• The Unfair Competition Act 146/142.
• The Unfair Commercial Practices Directive (2005/29/EC)
• The forbidden agreements between undertakings (Articles 101 TFEU and 1, Act 3959/2011) according to Greek and EU jurisdiction (facilitating factors, case studies, leniency program, settlement procedure)
• Abuse of dominant position (Articles 102 TFEU and 2, Act 3959/2011) according to Greek and EU jurisdiction
• Abusive exploitation of a relationship of economic dependence (article 18a Law 146/1914) considering the Greek jurisdiction
• Vertical restraints (Resale price maintenance agreements, exclusive cooperation agreements, royalty payments, case studies in Greece and the European Union)
• Merger control (horizontal, vertical, and conglomerate mergers, case studies in Greece and the European Union, economic models of merger control)
• State aid control
• Introduction to game theory and strategic decision-making in oligopolistic markets

The purpose of this course is to familiarise students with fundamental principles and provisions of corporate law, including L. 4548/2018 on Société Anonyme, Limited Liability Partnership etc.; L. 4601/2019 on corporate transformations; insolvency proceedings.

Course contents

• Corporate law (Société Anonyme, , LLP etc.)
• Insolvency law

The purpose of this course is to familiarise students with fundamental principles and provisions of intellectual property law.

The course introduces the students to general principles and provisions of intellectual property law, for instance patent law, trademark law (in view of L. 4679/2020), with reference to European case law, etc.

Course contents

• Patent law
• Trademark law
• Tradename law
• Industrial designs law
• Intellectual property
• Artificial intelligence

This course is designed to provide students with a solid background in public economics, fiscal policy and taxation for individuals and business entities.

Upon completion of this course, students should:

• Understand the fundamental differences between financial accounting and tax accounting
• Understand the theoretical background of taxation: meaning of taxation, features and purposes of taxation, principles of taxation, classification of taxes, characteristics of a good tax system, tax structure
• Have advanced knowledge on the measurement of tax expenses and tax obligations of individuals and business entities

Course contents

• 1st section: Fiscal policy
  • The goals of government institutions and the means they use to achieve them
  • Analysis of the effects of fiscal instruments on private actors’ economic behaviour
  • Contemporary topics on public economics and fiscal policy
• 2nd section: Financial – tax taw
  • Tax accounting financial accounting
  • Theory of taxation
  • Taxation of individuals
  • Taxation of business entities

This course is designed to provide students with a solid background in international business concepts and the international institutional business environment.

Upon completion of this course, students should:

• Understand the fundamental differences between multinational and domestic companies
• Understand the theoretical background of foreign direct investment (FDI): concepts, characteristics, theories, motives, and effects in host countries and home countries
• Be knowledgeable on international management, international marketing and operation of strategic alliances
• Understand the    fundamental    legal    differences    between    liberalisation   and protectionism in the international economic system
• Understand the theoretical legal background of European economic law
• Be knowledgeable on the operation of the EU internal market

Course contents

• 1st section: International business
  • Introduction to international business – Determinants of FDI
  • International monetary environment
  • International trade environment
  • International investment    theories,    legal,    technological,    cultural    and geographical environment for multinational enterprises
  • FDI in Greece
  • International strategic management – International marketing strategies for analysing and entering foreign markets
  • International strategic alliances
• 2nd section: International economic law
  • Introduction to    international     economic    institutions    –     International institutional business environment
  • The multilateral system and the agreements of the World Trade Organization
  • Liberalisation and protectionism in the international economic system: legal implications
  • European economic law and business
  • The EU’s internal market rules for businesses: free establishment, freedom to provide services and competition rules
  • Multinational enterprises and extraterritorial application of European law

Modern financial markets are characterised by an unprecedented freedom in the movement of financial resources which, combined with the existence of huge investment funds worldwide and the ever-increasing demand of investors for higher returns, lead funds to where it is believed that they will be invested in the most efficient way. In this environment, business executives and legal advisors should be able to understand the role and operation of the banking system. The purpose of this course is to present, with a practical orientation, the basic functions of the banking system, banking policy, and the modern financial system with particular emphasis on markets, products and financial institutions.

Upon completion of the course students should be able to:

• Understand the concept of monetary policy
• Describe the main characteristics of banking institutions’ products
• Apply the basic principles of valuation of financial assets
• Explain and analyse the risks of banking institutions
• Understand the functions of banks
• Know the forms of government intervention that deal with banking crises
• Describe the main categories of financial markets
• Be knowledgeable on the new European bank resolution system
• Describe the bankruptcy of banks

The purpose of this course is for students to:

• Obtain the required knowledge in order to function within the framework of a highly specialised team
• Get to know the methodologies utilised in high-level analysis, planning and implementation of M&As in the framework of European law
• Develop skills that will contribute to their active participation in a corporate decision-making environment

The course is divided into three sections, corresponding to three different fields of knowledge, which are required to understand and utilise the tools needed in evaluating and implementing business decisions pertaining to corporate restructuring and partnerships (M&As).

Course contents

• Section A: Accounting, financial accounting, marketing, strategic management, micro- and macroeconomics, trade, tax and competition law
• Section B: M&A theory
  • Motives – desired results
  • Detailed evaluation process of corporate partnership proposals
  • Venture evaluation & financing methods
  • Topics on M&A law and taxation
  • Financial, operational and administrative forecasts for evaluating and implementing M&A decisions
• Section C: Case studies
  • Methodology for analysing and evaluating data
  • Applied multidisciplinary analysis
  • Preparation and    presentation   of    a   proposal   to    decisionmakers   and institutional actors

The purpose of this course is to familiarise students with fundamental principles and provisions of insurance law.

The course introduces students to general principles and provisions of insurance law, including fundamental properties of insurance contracts, general provisions, legal provisions of European origin, for instance L. 4364/2016 – Directive ‘’SOLVENCY II’’, special insurance law, i.e. insurance contracts against concrete risks, e.g fire, fluids, etc.

Course contents

• General insurance law principles
• Essentialia negotii of insurance contracts
• Special insurance law

This course is divided into two sections, labour economics and contemporary topics on labour law.

The purpose of this course is for students to:

• Understand the behaviour of all stakeholders in the labour market (individuals, businesses and the state) and interpret the phenomena of unemployment, discrimination in the labour market and wage inequality
• Acquire knowledge on contemporary topics of labour law that affect business on both the physical and digital spaces

Course contents

• Section A
  • Structure of the labour market: an economic approach
  • Role of institutions in the labour market
  • Labour relations, flexibility and employment protection legislation
  • Collective bargaining and the role of trade unions: impact on employed and unemployed individuals
  • Wage determination and wage inequality
  • Discrimination in the labour market
• Section B
  • Labour relations in the gig economy
  • Prohibition of employment and work discrimination
  • Work readiness as working time
  • Wages and wage transparency
  • Firing for economic/technical reasons and collective redundancies
  • Collective labour agreements

The purpose of this course is for students to:

• Understand the concepts, functioning and implementation of EU regulation on businesses and competition
• Understand and interpret the provisions of EU law
• Understand the concepts of the internal market, economic liberties and competition in depth
• Understand concepts such as corporate law, taxation, consumer protection and external economic transactions

Course contents

• Introduction
• EU internal market law and fundamental economic liberties
• EU law on public procurement
• Internal energy market law
• Competition policy and competition law in the EU
• EU intellectual property law
• Consumer protection law
• EU monetary & financial law

Upon completing this course, students should have the ability to delve into all areas of contract law and be able to understand the most complex contract law cases. Moreover, students are expected to have the ability to think critically, and to solve complex practical issues, e.g. in the field of unfair contract terms.

Course contents

• The economic importance of contracts
• The restrictive nature of contract law and the traditional limits of the freedom of private will
• Issues concerning EU contract law
• Economic and other developments in Greece and the imposed restrictions on the freedom of contracts.
• Special cases of concluding contracts, mainly Law 2251/1994 on consumer protection (as in force after its amendment by Laws 4512/2018 and 4967/2022). In particular:
  • Unfair contact terms
  • Product liability
  • Services liability
  • Consumer protection in the context of e-commerce
• Civil liability issues with respect to AI
• Public procurement in EU (primary and secondary legislation) and national law – The distinction between public works contracts, pubic supply contracts and public services contracts – Mixed public contracts
• Concessions
• The general principles of transparency, equal treatment, non-discrimination and proportionality
• The contracting authorities
• The award procedures: open and restricted procedures, the competitive dialogue, negotiated procedures, dynamic purchasing systems and framework agreements
• Suitability of firms – Grounds for exclusion
• Remedies and enforcement

Course contents

• The concept of innovation, stages of introducing innovation and benefits of innovation
• The concept of entrepreneurship
• Types of entrepreneurship
• Green entrepreneurship
• Female entrepreneurship
• Entrepreneurship out of necessity and entrepreneurship out of opportunity
• Entrepreneurship and SMEs
• Entrepreneurship and the international environment
• Characteristics of new entrepreneurs
• Total early-stage entrepreneurial activity
• Global entrepreneurship monitor
• Foundation for Economic and Industrial Research (FEIR – IOBE)
• Business plan
• Fundamental negotiation elements
• Negotiation techniques

Upon completion of this course, students should be able to:

• Understand the theory of industrial organisation in a practical context
• Analyse policy issues arising in various
• Describe different market structures in terms of actual competition in relation to economic efficiency
• Understand structural and behavioural strategies that can impede effective competition and cause market failure
• Understand the causes of market failure, with a view to inform policy aimed at addressing problems that exist in various markets

In order to facilitate an in-depth understanding of the course, it is necessary to refer to real case studies (case studies) on the both domestic and international levels (Google/Android, GDF/Suez, Deutsche Telecom, EURIBOR, etc.).

Course contents

• Introductory concepts
• Introduction to competition policy
• Delineation of relevant markets (product/service markets, geographic markets)
• Collusion and concerted practices (facilitating factors, case studies, econometric methods of cartel detection, leniency programs)
• Abuse of a dominant position (definitions, examples from case studies in Greece and the European Union)
• Vertical restraints (resale price maintenance agreements, exclusive cooperation agreements, royalty payments, etc.)
• Concentration control
• Economic models of merger control (ex ante and ex post)
• Competition in markets with network effects (energy, banking, IT, transport)
• State aid control

The purpose of this course is to introduce students to the concepts of economic crime and corruption, their impact on the economy, as well as the causes, factors, consequences and prosecution of tax evasion. Students are familiarised with new forms of investment and obtain a complete picture of the evolution of the internet in everyday life, its utility and its dangers. Finally, this course also covers money laundering, the techniques used by criminals, as well as the operation of offshore companies.

Upon completion of this course, students should:

• Understand the fundamental concepts of economic crime and corruption, and their impact on the national economy
• Understand the concept of tax evasion and in particular its causes, determinants and consequences for society as a whole
• Be knowledgeable on the EU and its economic interests
• Understand the concept of money laundering and be knowledgeable on the crimes that precede it, as well the money laundering techniques used by perpetrators to cover their tracks
• Understand the operation of offshore companies
• Be knowledgeable on how theory and jurisprudence deal with cybercrime

Course contents

• Introduction to the internet
• Forms of cybercrime
• Online opportunities – cyber investments
• Corruption and the internet
• Corruption control mechanisms, formal and informal
• Innovation, start-ups and new opportunities, via the internet
• What’s next – virtual reality (metaverse)
• Financial crimes and corruption crimes and their impact on the economy
• Procedural deviations in the field of financial crimes and corruption crimes in the public sector
• Tax evasion (causes, determinants, consequences, treatment, criminal sanctions)
• Crimes against the EU’s financial interests
• European Arrest Warrant (Conditions for issuance, EAW content, execution procedure, admissibility of extradition of nationals)
• Money laundering (delimitation, fundamental offences, stages of money laundering, models, AML techniques, financial implications)
• Offshore companies

The aim of this course is to provide the student with the necessary theoretical and applied knowledge to understand the shipping industry and transport in general. In the first section, this course covers a wide range of topics, including the basic characteristics of the transport and shipping sector, the demand and supply of transport and shipping services, shipping cycles, production costs, invoicing methods and charters, as well as investments in transport and shipping. In the second section – on maritime law – the course focuses on the concept and types of maritime law (private maritime law, public and private maritime law, procedural maritime law) and modern sources of maritime law.

Course contents

• Section A
  • Introduction to transport and shipping economics, transport and shipping market, international maritime trade.
  • The transport sector: Road, rail, air, river and sea transport
  • Request and offer of transport and shipping services
  • Tramp and liner shipping – Shipping circles
  • Cost details, pricing and investments in transportation and
• Section B
  • Concept, types and modern international sources of maritime law
  • Basic concepts and distinctions of a ship – Floating shipyard
  • Logs, ship’s nationality
  • Modes of ownership of a ship, encumbrances on the ship and co-ownership
  • Master, crew, shipping documents and books

The purpose of this course is for students to understand:

• The fundamental principles of bioethics and the relation between bioethics and law
• The fundamental provisions of the Code of Medical Ethics (Law 3418/2005)
• Medical civil liability, as it is shaped by contemporary medical developments
• Patients’ rights in case of medical error
• Issues (legal and otherwise) pertaining to euthanasia
• Legal, medical and ethical issues concerning abortion
• Topics pertaining to the social and economic aspects of health and healthcare
• Economic terms and theoretical approaches used in economic analysis
• Topics pertaining to management and management science
• Forces which influence the supply and demand of social services
• Processes that determine how management is performed in the public sector and social services, as opposed to the private sector
• Weaknesses affecting public organisations and their causes
• Problems pertaining to the institutional role of the NHS (ESY), its organisation and financial management
• Methods and best practices for decision-making and shaping health policies
• The necessity of health economics and its contribution to the fair (re)distribution of scarce resources

The purpose of this course is to go through all of the fundamental aspects of finance and real estate/property law.

Course contents

• Lecture 1
  • The Greek real estate market: Prospects and problems
  • The 2009-2019 Greek debt crisis and its repercussions on the Greek real estate market
  • The nature of real estate and real estate markets
  • Residential market and commercial real estate segments (office, retail, industrial and logistics)
• Lecture 2
  • Decoding of the long-lasting institutional problems of the Greek real estate market – How can they be solved?
  • Causes and consequences of the 2007 US subprime loan mortgage crisis
• Lecture 3
  • Private market real estate investments
  • Direct investment in real estate
  • Private market real estate debt
  • Pricing of mortgage loans
  • Publicly traded real estate securities
  • Real estate investment trust – REIT
• Lecture 4
  • Real estate fund management: Real estate risk and return relative to stocks and bonds portfolio diversification through REITs and by different region and property type
  • Real estate development: A case study of Starcity project (Syngrou Avenue 111)
• Lecture 5
  • Institutional reform as a prerequisite for the exploitation of public real estate assets
  • Methods of development and exploitation of public real estate assets
  • Sale and leaseback
  • Securitisation
  • Leasing
  • Real estate investment trusts
  • Public-private partnerships
• Lecture 6
  • Students’ presentation of final term paper