The MSc “Applied Risk Management” specializing in Risk Management consists of 4 Thematic Modules of annual duration, plus the preparation of a Dissertation, which is also the 5th Thematic Module of the Programme. Each Thematic Module consists of 4 courses. More specifically, the Programme follows the following structure:

Thematic Module I:

Finance and Risk Management (30 ECTS)

Thematic Module I consists of the following sub-courses:

• Financial Accounting and Managerial Economics
• Financial Management
• Risk Management I
• Risk Management II

Thematic Module II: Quantitative Methods in Finance (30 ECTS)

The Thematic Module II consists of the individual courses:

• Stohastic Analysis in Finance
• Empirical Methods in Finance I
• Empirical Methods in Finance II

Thematic Module III: Specific Issues of Markets and Risk Management (20 ECTS) Thematic Module III consists of the individual courses:

• Value Investing and Financial Analysis
• Structure Products
• Institutional and Regulatory Framework of Markets and Financial Institutions
• Commodity Markets

Thematic Module IV: Macroeconomics and Financial System (20 ECTS)

Thematic Module IV consists of the following sub-courses:

• Macroeconomic Environment and Economic Policy
• Financial System, Regulation and Macro Prudential Supervision I
• Financial System, Regulation and Macro Prudential Supervision II
• Management of Macroeconomics and Financial Crisis

Thematic Module V: Postgraduate Dissertation (20 ECTS)

Please be informed that under current legislation on universities, the courses that a student can attend may not exceed a cumulative 60 teaching units (ECTS) per academic year.

The cost of conducting the MSc in Applied Risk Management, specializing in Risk Management, is covered by the financial participation of students.

The financial participation of students is set at 850 euros per Thematic Module. The total cost of the MSC is 4,250,00€ (850,00€ per thematic module × 5 thematic modules).

It is noted that each Thematic Module is provided with teaching material (notes, exercises, multiple choice questions) by the Teachers through the e-class.

The financial contribution of the students for the offered MSC will be paid directly by the students at the NKUA.

*Students of the MSc who are citizens of the European Union and whose individual income, if they have their own income, and the family disposable equivalent income do not independently exceed, the individual the  one hundred percent (100%), and the family income the (70%) of the national median disposable equivalent income, according to the most recently published data of the Hellenic Statistical Authority. This exemption shall be granted for participation in a single MSc. In any case, exempted students cannot exceed the thirty per cent (30 per cent) of the total number of students admitted to the MSc. If the beneficiaries exceed the percentage referred to in the preceding subparagraph, they shall be selected in order of classification starting with those with the lowest income (Article 35, paragraph 2, Law 4485/17).

Lectures will be held at regular intervals, on non-working days and hours, in order to facilitate the participation of employees without affecting their professional obligations. Each Thematic Module has an annual duration and each Thematic corresponds to live meetings, lectures by remote means, an interim examination, and the final examination you carry out in June. Part of the meetings can be replaced by the creation of virtual electronic classes, based on technology, communication and information services by decision of the Direction Committee.

In addition, 40 hours of live training or using electronic tools and means of open distance learning are carried out.

The courses of each academic year start at the beginning of October. The exact schedule of the meetings is announced in early September.

Applicants who wish to submit their Application are kindly requested first as they carefully study the Proclamation, and then:

• Complete and send the relevant Application. (The Application can be found here.)
• Collect and send the following documents:
  • Curriculum Vitae
  • ID or passport
  • Copy of a university degree(s)
  • Certificate of English
  • Two Letters of Recommendation
  • Two-sided photocopy of the identity card
  • All other documents listed in the relevant Notice

Interested parties should send all the above documents to the program secretariat by e-mail, referring to the topic “Request to participate: Full name“.

Two letters of recommendation sent by the teachers/employers themselves directly to the program secretariat by e-mail are also necessary.

After the examination of the applications by the Scientific Committee of the Program, personal interviews with the candidates will follow where necessary.

In order to obtain the Master’s Degree, it is compulsory to successfully attend four Thematic Modules (TH), as well as to successfully complete the dissertation module.

In the first year of study, students of the Postgraduate Program of Applied Risk Management, specializing in Capital and Risk Management, can choose a maximum of two (2) Thematic Modules, while in the second year of study in the third and fourth Thematic Modules along with the preparation of the Master’s Dissertation Module, provided that the examination/presentation of the dissertation takes place after the successful completion of all the Thematic Modules of the Program.

The Educational Process of the Programme is mixed (blended learning) and takes place both with the use of a conventional system (teaching in classrooms) and with the use of e-class methods.

From the beginning of the year for each Thematic Module, a Detailed Student Study Schedule (Study Timetable) is provided for the coverage of the teaching material, a program of written work (2 papers per Thematic Module), dates of intermediate examinations in January, and the Lecture Program. The program of each Thematic Module starts in October and ends in June, with the final written examination that covers the whole of each Thematic Module.

Lectures will be held at regular intervals, on non-working days and hours, in order to facilitate the participation of employees without affecting their professional obligations.

MSc collaboration with the Greek Center for Value Investing.

The Applied Risk Management/Risk Management postgraduate program collaborates with the  Greek Center for Value Investing and the European Chapter of the Ben Graham Centre for Value Investing and offers students an innovative course, unique to Greek Universities, which focuses on the valuation of Companies based on Benjamin Graham’s methodology and principles. This course is taught by Professor G. Athanasakos, Ben Graham Chair in Value Investing, Ivey Business School, Western University, Canada, who is one of the most renowned academics in the field of Value Investing. After the successful completion of the course, students receive a Certificate of Specialization in Value Investing.

Course Description

The aim of the course is to teach students the fundamental principles of Value Investing’s approach to valuation and investment management as developed by Graham and Dodd and expanded by Mr Warren Buffett.

The fields of knowledge covered are:

(1) The fundamental assumptions and approaches for Value Investing,

(2) Techniques for assessing fundamental value on the basis of traditional approaches and valuation based on Value Investing,

(3) The design of strategies for the effective search for value investments,

(4) The structure of portfolios based on Value Investing.

Distinctions/ Awards in the course

As part of the Value Investing course, a cash prize is awarded for the best work to be submitted by the groups of students participating.

Specifically, the Prize is awarded by European Reliance Asset Management annually and rewards the team that will submit the best work in the Value Investing course. The prize money is 1,000 euros(€). The winning team is chosen by Professor Athanasakos.

For more information, please refer you here.

We wish all teams success!

*Note that the winning team, which will receive the prize, will be announced around the end of June – beginning of July, where the Final Project scores will be announced by Professor Athanasakos.

The MSC Applied Risk Management uses the eclass (http://eclass.uoa.gr/) platform eClass is an educational free platform that supports a large number of online courses with thousands of users participating in them.

It is a successful channel of communication between trainers and trainees. In the e-class environment the student proceeds to register electronicly in the courses he attends. Within the framework of the MSc Applied Risk Management, each Thematic Module has an annual duration, so the student proceeds to enroll in each Thematic Module at the beginning of each academic year.

The online course is the core of the Open eClass platform. Each Thematic Module is a stand-alone entity on the platform that integrates a number of subsystems. The following features are supported in each online course:

• Agenda, which presents in time the important events of each Thematic Module (lectures, meetings, deliveries of work, etc.).
• Documents, where the educational material of the Module is posted, stored, organized and presented.
• Announcements, from the lecturers and the Msc Secretariat concerning the Thematic Module and informing registered users, trainers and trainees.
• Discussion areas, for the exchange of views and ideas on topics related to the course. It is a subsystem of instructor-learner interaction.
• Links – useful sources from the Internet related to the course and grouped into categories.
• Tasks, a useful tool that allows the electronic management, submission and scoring of the work of each Thematic Module. In this field lecturers post the assignments which students are invited to submit together with all the necessary information (final dates, sources, etc.)
• Course Description, a place where information about the subject matter, objectives, educational activities, aids, methods of evaluation, etc. of the course is presented.
• Chat, is a subsystem that provides the ability to chat in real time.
• Teleconference is a subsystem that provides the possibility of electronic videoconferencing.

Also, the e-class platform can be used to inform you about various topics on lecturers of the individual courses that make up a module, to find the written assignments and supplementary material (e.g. clarifications, commentary on written papers, new publications), useful material (e.g. paragraphs of the manuals, addresses from useful websites , new scientific articles) as well as answers to frequently asked questions (“FAQs”) that you may have.  You can also find posted additional digital teaching material for each Thematic Module of the program.

In addition to the possibility of holding teleconferences through the e-class platform, within the framework of the MSc, teleconferences are also held through the Webex.

In the following links, interested parties can obtain financial data (index prices, company financial data, etc.) as well as be informed about issues related to Risk Management. In particular, the students of the MSc Applied Risk Management, can draw from the following pages rich material that will be useful both for the preparation of the Written Assignments of the Program and for the deepening of their theoretical knowledge.

• Greek Stock Exchanges www.helex.gr/el/
• Bank of Greece www.bankofgreece.gr/Pages/default.aspx
• Securities and Exchange Commission www.hcmc.gr
• Global Association of Risk Professionals www.garp.org
• The Professional Risk Managers’ International Association www.prmia.org
• The Ben Graham Centre Value Investing www.bengrahaminvesting.ca
• FRED Economic Data, Federal Reserve Bank of St. Louis https://fred.stlouisfed.org/
• Investing.com
• https://www.policyuncertainty.com/