Athens University of Economics and Business

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Athens University of Economics and Business

Athens University of Economics and Business (AUEB, ASOEE, or OPA) (Greek: Οικονομικό Πανεπιστήμιο Αθηνών (Ο.Π.Α.), Oikonomiko Panepistimio Athinon (OPA) was founded in 1920 in Athens, Greece. Its buildings are housed on Patision Street.

Before 1989, the university was known in Greek as Ανωτάτη Σχολή Οικονομικών και Εμπορικών Επιστημών (Α.Σ.Ο.Ε.Ε.), Anotati Sholi Oikonomikon kai Eborikon Epistimon (A.S.O.E.E.), and in English as the Athens School of Economics and Business. Though the university's official name has changed, it is still known popularly in Greek by this former acronym.

AUEB is the leading Economics and Business university in Greece. It is the third oldest higher educational institute and the oldest in the fields of Economics and Business in Greece.


The Athens University of Economics and Business (AUEB) was originally founded in 1920 under the name of Athens School of Commercial Studies. It was renamed in 1926 as the Athens School of Economics and Business, a name that was retained until 1989 when it assumed its present name, the Athens University of Economics and Business.

It is the third oldest University in Greece and the oldest one in the general fields of Economics and Business. Up to 1955 the School offered only one degree in the general area of Economics and Commerce. In 1955 it started two separate programs leading to two separate degrees: one in Economics and the other in Business Administration. In 1984 the School was divided into three Departments, namely the Department of Economics, the Department of Business Administration and the Department of Statistics and Informatics.

In 1989, the University expanded in six Departments. From 1999 onwards, the University developed even further and nowadays it includes eight academic departments, offering 8 undergraduate degrees, 28 Master degrees and an equivalent number of Doctoral Programs.


The Athens University of Economics and Business is centrally located in downtown Athens. The main building of the University is located at 76, Patision Street Street in Athens, two blocks away from the Archaeological Museum. The backside of the building faces the Pedion Areos Park and the Panellinios Sports Club. Four more buildings in the area cover the University's needs in offices and teaching rooms. One of them is located at 12, Kodrigtonos Street and the other at 12, Derigny Street.

The Research Center is located a few blocks away, at 46, Kefallinias Street and the Graduate School building is located at Louzitania building at the corner of Evelpidon and Lefkados Street.


The University is very conveniently located. Many bus lines pass in front of the University, and a metro station is located one block away from the main building. The general area where AUEB is situated is a leasant and lively area, Kypseli. There are many restaurants, shops, and entertainement places in this area of Athens, while many museums, galleries, and archaeological places are nearby


The academic staff of the University consists of resident faculty, adjunct faculty, and visiting faculty. In addition, teaching and research assistants, foreign language and athletics instructors, and teachers of cultural activities are members of the academic staff. There are 4 levels (ranks) among resident faculty: Professor, Associate Professor, Assistant Professor, and Lecturer. Faculty members are assisted by teaching and research assistants, many of whom hold a Master's Degree and continue their doctoral studies.

The resident academic staff of the University is currently composed of 37% Professors, 18% Associate Professors, 23% Assistant Professors, and 22% Lecturers. Resident faculty has to have a Doctorate in order to assume any level. A vast majority (76%) of the current faculty of AUEB have obtained their PhD degrees from the USA or the UK, in Universities such as Harvard, Columbia, MIT, Cambridge, Northwestern University, Berkeley University, NYU, Pennsylvania, LSE, LBS, Warwick, Manchester, Strathclyde, Aix-en-Provence, Essex, Maryland, City, Paris, Bath, Reading, etc. An additional 9% of the resident faculty holds a Doctorate from other European countries, and finally the remaining 15% holds a Doctorate from a Greek University.

AUEB faculty has previously served on the faculties of leading international Universities before getting a position at AUEB. Examples of such Universities include Columbia, Pennsylvania (Wharton), Northwestern, Cambridge, Dartmouth, U of Rochester, Imperial, Erasmus, Manchester, City, ETH Zurich, Paris-Dauphine, etc.

International Recognition and Rankings

In a research carried out by Der Spiegel magazine among 500 European Universities, AUEB ranked in the 15th place. In the field of Econometrics, AUEB comes internationally in the 48th place according to the Journal of Econometric Theory. The economics department ranks in the 181st place worldwide, according to its research (source:

The European Documentation Center of the AUEB is the coordinator of all the European Documentation Centers of Greek Universities.

The MBA International Program, has 9 specializations / majors and is offered in English. The Program is accredited by the Association of MBAs (AMBA), and ranked among the top 10 MBA prograin Europe and the top 30 in the world. In the 2009 QS Global 200 Business Schools Report the school was ranked 17th in Europe.

The Department of Informatics gets 8,000 citations per year and has 5 professors in the top 10,000 researchers by citations according to ACM.

Rankings in Research

AUEB is very well known for its research orientation. In a recent (2006e SSRN research carried out by the Social Sciences Research Network (SSRN) among all non-US Universities, AUEB ranks among the top 15 Universities internationally in terms of total research output, among the top 11 Universities internationally in terms of total new papers in the last 12 months, and among the top 11 Universities internationally in terms of total authors. In the field of Econometrics, according to a different study, AUEB comes internationally in the 48th place according to the Journal of Econometric Theory. And, yet in another study conducted by Der Spiegel, AUEB ranks among the top 5% of European Universities.

Rankings of Graduate Programs

In another ReportED research among 250 business schools globally (ReportED 2006) AUEB's MBA International Program, fully accredited by AMBA, was ranked among the top 10 MBA programs in Europe and the top 30 in the world. In terms of the school quality, the Program assumed the 4th position in Europe, and 18th in the world along with schools such as Yale, Berkley, Cornell, INSEAD, IMD, Oxford, Cambridge, ESADE and HEC. Based on the Alumni survey, the Program ranked No 5 in Europe.

In a more recent ranking Top MBA among 200 schools in Europe (2009) by QS, the organization co-conducting the World University Rankings with The Times, the MBA International program with an average class GMAT score at 663, came out No. 10 in Europe, surpassing schools such as, for example, Cass and Imperial College (no. 17, avg = 640), Manchester Business School (no. 20, avg = 625), Warwick Business School (no. 27, avg = 610), and others. On the same survey, on the basis of opinions from over 600 employers from all over the world, the MBA International was ranked at the 17th place out of 70 business schools in Europe. As the QS report notes, the employer ranking shows that a cluster of schools can be distinguished which includes "Cambridge, Warwick, Manchester, ESSEC, ESCP-EAP, Athens University of Economics and Business (a big riser in 2008), Imperial, Cass, and MIP Politecnico di Milano. These schools have all established a strong franchise with European-based recruiters".

Finally, amongst 200 business schools globally, MBA International is ranked at position 37 globally in the specialization of Operations Management and at position 39 in the specialization of Finance.

Another graduate program, the MSc program in Human Resources Management, has received the EFQM Award Committed to Excellence" from the European Foundation of Quality Management. AUEB is also a very popular school. In a recent (2005) GMAC ranking by GMAC©, AUEB turned out to be the 3rd most popular school in Europe (in terms of the number of GMAT scores sent) among European candidates, and the 6th most popular one internationally, behind LBS, INSEAD, Harvard, Columbia and Stanford.


The AUEB library was founded in 1928 and in 1990 it experienced a massive modernization and IT automation, partly financed by the European Community. Today it covers all aspects of automation, including OPAC, SDI, acquisitions, bar-code-based lending, etc., and uses the integrated library automation system Equilibrium-Libreto. It is one of the largest libraries in Economics and Business Administration in the Balkans.

The library comprises more than 100,000 book titles, and more than 1,000 printed academic journal titles covering areas of Economics, International and European Economic Studies, Business Administration, Management Science and Marketing, Informatics, Statistics, Accounting and Finance, and Management and Technology.

The library also offers 150 CD-ROMs (the Official Journal of the EC in full text, bibliographical database of the Official Publications of the EU, statistical data on the imports and exports of the member-states of the EU etc.) Access to the above mentioned CD-ROMs is available from all library departments via the CD-RΟΜ network. Finally, the library offers daily business magazines and journals in the areas of economics and business.

In addition, the Library participates in a consortium for national and international inter-library loans. Thus, the library users have access to the libraries of the Centre of Planning and Economic Research, the Bank of Greece, the National Documentation Centre, as well as to several libraries in Europe. The library employs 26 people and is open, for all students, from 08:30 to 18:00 on working-days and on Saturday from 10:00-14:00. There are also reading facilities which are available daily until 20:00.

Business databases and literature search facilities

The AUEB library subscribes over 1,000 electronic journals through all the major electronic search engines (EBSCO, Elsevier's Sciencedirect, Springer's Link, JSTOR, MCB, WilsonWeb, Blackwell publishing, Oxford University Press, Wiley InterScience, CambridgeJournalsOnline etc.). Electronic access to the subscribed journals can be performed from any computer connected to the University intranet or irrespective of location, through dial-up, which is available 24 hours a day 7 days a week. Also the library offers access to the OECD (Organization for Economic Co-operation and Development) database including data, analyses and forecasts.

The library also encompasses the European Documentation Centre which was established by the European Commission in partnership with the University in June 1992 in order to support teaching and research on EU matters. It is part of the University's library and is open to all members of the University, to the wider academic community as well as to everyone interested in EU policies and affairs.

Computer Center

AUEB has one of the largest and most up-to-date computer center facilities in the country. It occupies an area of approximately 700 m2 and holds an extensive library of educational, scientific and business software.

The Computer Center tailored for the research and teaching needs of the University comprises to the following hardware and software facilities:

  • One DEC Alpha Server 1000A 5/400 (450 MHz.) mainframe, running Open/VMS, and configured with 640MB RAM, 5 hard disk units with 26GΒ total capacity. The software includes TCP/IP, Fortran, Pascal, C, SAS, SPSS, TSP, NAG, MIS and ORACLE 7 server (full development system).
  • Two Silicon Graphics Origin 200 mainframe systems, with (4) processors (R10000, 180 MHz, RISC 64 bit) each, running IRIX 6.4 (64 bit UNIX). The software includes Email-server, FORTRAN 90 and 77, C++, Pascal, Mathematica, Informix and ORACLE 7.
  • One Compaq ProLiant 1600 system with (2) Pentium II 450 MHz. processors, 512 MB SDRAM, 3 hard disk units with 27 GB total capacity, a DAT tape drive 12/24 GB and four Fast Ethernet 100 Mbit/s adapters. This system is the primary Windows 2000 Server having the task to control and administer the usage of (240) Windows NT Workstations (Pentium MMX) located in five computer labs at the Computer Center. In addition there are two Pentium Pro systems used as secondary Windows NT Server and Network Router respectively.
  • Serving more than 7,000 users, the Computer Centre research and teaching facilities include five computer labs (classrooms) with a total of 236 Pentium MMX systems, used either as terminals to the Mainframes (IRIX and VMS) or as Windows NT workstations. The workstation software includes the MS Office, SPSS, Internet Explorer etc.
Academic departments

The Athens University of Economics and Business is composed of 8 academic Departments in the areas of Economics, International and European Economics, Business Administration, Marketing and Communication, Accounting and Finance, Management Science and Technology, Informatics, and Statistics.

Each Department is run by the Chairman of the Department, the Vice-Chairman, and the General Assembly of the Department. Each Department accepts students at the undergraduate level, after successfully passing the pan-Hellenic exams, and offers a 4-year undergraduate program of studies, leading a Degree (Ptychion). Each academic department also offers one or more graduate programs of studies, leading to a Master's Degree, as well as a Doctoral Program, leading to a PhD Degree.

Undergraduate Studies

Each department of the Athens University of Economics and Business awards an undergraduate degree (Ptychion) equivalent to a four-year B.A. or B.Sc. in their respective fields. Students are accepted after a successful nation-wide entrance examination. On the average, only one out of seven candidates is admitted. In some departments the competition is even higher. AUEB departments traditionally accept the candidates with the highest scores in the entrance exams.

To be able to graduate and get his/her degree, a student has to attend and successfully complete eight semesters of study (four years), corresponding to a total of approximately 240 ECTS credit hours. These hours correspond to core as well as to elective courses. Students in one department are allowed to take courses offered by other departments. Foreign language courses in English, French or German are offered in all semesters and count towards degree requirements. Depending on their choice of electives, students acquire a major concentration on particular subjects. According to the University's grading system the grades range from zero (0) to ten (10). The passing grades are from five (5) and above.

Undergraduate Courses in English

In addition to the above, there are many courses offered in English, mainly (but not only) for international students who come to AUEB under the Erasmus program. A total of approximately 60 courses are offered in English, each one counting towards 6 ECTS credits.

Postgraduate studies
Masters Programs

There are 28 different Masters Programs that are currently offered at AUEB. They include full-time programs, part-time programs, and joint programs (with other Universities).

The duration of graduate studies at the Master's level is between 15-27 months. Students are admitted to these programs after satisfying certain admission criteria such as results at the GMAT or GRE tests, proficiency of English (and maybe another language), academic performance at the undergraduate level, work experience (mainly for the MBA as well as the part time programs), etc. Mastery of English is a prerequisite as courses include extensive seminars and lectures in English. Graduate students may receive scholarships or assistantships. All programs offer different specializations, allowing students to put together a customized program that fulfills their professional objectives and interests.

  • M.Sc. in Economics (Economic Theory or Applied Economics & Finance)
  • M.Sc. in International and European Economics (International Economics & Finance or European Economic Policy)
  • M.B.A.
  • M.Sc. in Management of Services
  • M.Sc. in Marketing and Communication with New Technologies
  • M.Sc. in Human Resources Management
  • M.Sc. in Accounting and Finance
  • M.B.A. International
  • M.Sc. in Information Systems
  • M.Sc. in Computer Science
  • M.Sc. in Statistics
  • M.Sc. in Applied Economics and Strategy
  • M.Sc. in Finance and Banking
  • M.Sc. in European Studies webserver
  • M.Sc. in Management of Services
  • M.Sc. in Marketing & Communication with New Technologies
  • M.Sc. in Human Resources Management
  • M.Sc. in Accounting and Finance
  • M.B.A. International (part time)
  • M.B.A. Executive
  • M.B.A. in Telecoms
  • M.Sc. in Statistics
  • Athens Ph.D. (with the University of Athens)
  • Athens M.B.A. (with the National Technical University of Athens)
  • M.Sc. in Business Mathematics (with the University of Athens)
  • M.A. in Heritage Management (with the University of Kent)
Doctoral Programs

AUEB also offers two very strong Doctoral Programs. Students who get admitted to the Doctoral program have to follow one or two years of courses, pass the qualifying exams, and then undertake a Doctoral research, submit a Doctoral Thesis and defend it successfully in front of an academic jury. The PhD's Programs are offered from two Departments. The Department of Economics offers a PhD in Economics which is very strong.

The other strong and well known PhD Program is offered by the Department of International & European Economic Studies and it has two specializations. The first one provides a PhD in Economics (Theory and Policy, Econometrics, International Economics etc.) The other provides a PhD in Economics with emphasis in European Economic Policy plus elements from other social sciences like Law and Politics

Non-Degree Programs

The University offers extensive additional training to the students of the University, as well as extensive executive training programs.

A number of non-degree courses are offered to the students who are interested to expand their knowledge and skills. These include foreign language courses and courses on computer skills. Examples of these courses are:

  • Foreign Language Courses: English, French, German, Italian, Spanish, Chinese
  • ECDL certificate courses, and
  • Microsoft developer certificate courses.

In addition, a large number of executive seminars are offered, either in-house to companies, or open. Examples of these programs include:

  • Introduction to Entrepreneurship
  • Developing and Managing the Family Business
  • Doing Business in the Balkans and Black Sea Region
  • Managing Change
  • Developing Leadership
  • Financial Engineering Seminars
  • Mergers & Acquisitions
  • Managing Risk
  • E-Business, E-Procurement
Research Laboratories

AUEB's Research Laboratories constitute a dynamic mechanism that aims to systematise research carried out in various fields of knowledge, bring together faculty, doctoral students and visiting researchers of a given area, and bridge the gap, between academic research and practice.

The laboratories mission is: To conduct forefront research in all aspects of scientific knowledge studied within the University, To develop educational, research-based and other similar activities in accordance with the general principles and Research Code of the University, To cooperate with other Research Centres and Academic Institutions in Greece or abroad, yet within a frame of solidarity and mutual trust, provided that similar or complementary scientific objectives are being sought, To organise and host conferences, seminars, talks etc., and publicise their proceedings as well as other scientific material, To work together with various public or private organisations, to address existence or potential problems.

The Research Laboratories currently operating at AUEB are the following:

Department of Accounting and Finance
  • Accounting Laboratory
  • Laboratory for Applied Finance

  • Business Informatics Laboratory
  • Industrial Relations and Negotiations Laboratory
  • Business Strategy Laboratory
  • Analysis of Markets and Consumer Behaviour Laboratory
  • Development and Promotion of Financial Products and Services Laboratory
  • Econometrics Laboratory
  • Athens Laboratory of Economic Policy Studies (IMOP)
  • Computer and Communication Systems Laboratory
  • Information Systems and Databases Laboratory
  • Network Economics and Services Laboratory
  • Artificial Intelligence and Decision Support Systems Laboratory
  • Wireless Networks and Multimedia Telecommunications Laboratory
  • Laboratory for the Documentation and Analysis of European and International Economic/Financial/Econometric Issues (ΕUROLAB)
  • Electronic Commerce and e-Business Laboratory - ELTRUN
  • Management Science Laboratory
  • Transportation Systems and Supply Chain Management Laboratory
  • Information Systems Technology Laboratory - ISTLab
  • Strategy and Enterpreneurship Laboratory
  • Multimedia Laboratory for Communication and Marketing
  • Marketing Laboratory (ALARM)
  • Human Resource Management Laboratory
  • Sectoral Research and Studies Laboratory
  • Business Applications and Evaluation Laboratory
  • Digital Business and Strategy Laboratory
  • Laboratory of Propability and Statistics Applications in Complex Economy, Insurance and Technology Systems
  • Statistical Methodology and Data Analysis Laboratory

Students' Association "Sotiris Petroulas"

"Sotiris Petroulas" Students' Association is managed by 11 members elected during the students' elections each spring. The Association has played a key role in the solution of problems of student life and contributes to the enhancement of the quality of studies at the University.


AUEB's alumni are among the leaders of industry, in almost all sectors of the Greek economy, but also internationally. An indicative list of distinguished AUEB alumni includes: the CEO of one of the major banks in South-East Europe, the CEO of the Bank of Greece, the President of the Federation of Greek Industries, the CEO of the largest wine producer and retailer in Greece, the CEO of the largest dairy products producer and retailer in Greece, the CEOs of two of the largest shipping companies internationally, the CEO of one of the largest multinational jewelry companies, the CEOs of two of the largest retail supermarkets in the Balkans, the CEO of major pharmaceutical companies, the CEO of one of the major daily newspapers in Greece, the CEO of the largest beer company, the CEOs of several of the major consultany companies in the Balkans, etc.

In addition, AUEB alumni have been distinguished in academia and public service. Our alumni have gone on to get academic positions at a number of Universities internationally, such as: MIT, London School of Economics, University of London (Queen Mary), Manchester Business School, Copenhagen Business School, Un of Rochester, Un of Essex, Baruch College, University of Strathclyde, University of Pompeu Fabra (Barcelona), ESSEC, ESC Grenoble, Brunel University, University Pierre Mendes, SUNY-Buffalo, University of Geneva, University of Lancaster, University of Durham, and many others.