Department of Economics and Econometrics: Modelling and Applications


Head: Prof. Nikitas Pittis

Academic Manager: Dr. Nikolaos Englezos

Administrative Manager: Klea Morianou



At the core of the activities of the department lies the target of achieving natural resources, economic and social sustainability by developing structured and methodologically sound approaches to recognizing, demonstrating and  capturing the Total Economic Value of resources, integrating them in sustainable management tools and policy making, while recognizing the interdisciplinary nature of the challenge. The research undertaken by the members of the department aims at:

  • The development and the incorporation of natural wealth accounting systems so as to make “nature’s values visible”
  • Elaborating on a structured approach to resource valuation that can help decision-makers recognize, demonstrate and capture the values of ecosystems and their biodiversity
  • Developing the appropriate economic and econometric models and advanced Decision Support Systems that can capture the complex connections between the ecosystem and human activities and allow policy makers and stakeholders of relevance take well-informed decisions
  • Identify and assess the effects of human actions in a systematic and rigorous way allowing for a financial, social, economic and environmental assessment of the costs and the benefits

The department boasts international experience in the development and the employment of natural capital valuation methodologies, economic and econometric models, Cost-Benefit Analysis and integrated Decision Support Systems with the use of advanced technology. The department hosts well-renown researchers in the field from Europe, Asia and America the work of which is supported by very enthusiastic interns.


Indicative projects:

  • Building Research environments fostering Innovation, Decision making, Governance and Education (BlueBRIDGE), Horizon 2020, European Commission
  • Regional cooperation for the transnational ecosystem sustainable development (RECONNECT)
  • Decision Making Under Uncertainty: The Example of Climate Change, Athens University of Economics and Business Funding for Original Research
  • Innovative Multi-purpose offshore platforms: planning, design and operation (MERMAID), FP7, European Commission


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