MSc in Energy and Finance

Who can apply

To be considered for the programme, candidates are required to have:

• an undergraduate degree from a recognized University (University graduates of  Business/Economics, Engineering, Geotechnical as well as Natural Sciences departments)
• proof of English competence [a recognised certificate of proficiency, recently acquired IELTS (academic 6.5 and above), or TOEFL (IBT, 90 and above) or TOEIC (850 and above) score]

Course content

During the first term, students are required to follow five mandatory core courses. During the second term, students are required to follow three mandatory core courses tailoring their programme further by two elective courses. Finally, in the third semester, work is dedicated exclusively to the Master’s dissertation. The dissertation provides an opportunity to apply theory and concepts gained during the year to a real-world problem.

The core courses

1^st Term Core Courses

• Quantitative Methods
• Energy Systems Technology
• Project Finance
• Project Management
• Environmental and Energy Economics

2^nd Term Core Courses

• Energy and Climate Change
• Financial Risk Management
• Financial Markets

The elective courses

During the second term students tailor their programme further by choosing elective courses. The choice of elective courses must sum up to 12 ECTS (2 courses). Some of the elective courses may not be offered, depending on student demand. 2^nd Term Elective Courses

• Behavioral Finance
• Cost-Benefit Analysis
• Energy and Environmental Law
• Environmental and Energy Policy
• Forecasting Methods
• Life Cycle Assessment
• Panel Data Econometrics
• Portfolio Management
• Sustainable Production and Consumption

The Dissertation

During the third semester, students work on their Master’s Dissertation project, the thematic area of which is relevant to their programme of studies and their interests. The dissertation is the opportunity to apply theory and concepts learned in different courses to a real-world problem or research question. Students are supervised throughout their projects by a member of the academic faculty and the academic assistants of the School. After submission of the dissertation, students present their projects to classmates and faculty at a special event. In collaboration with our academic associates and their supervisors, several students in the past have managed in publishing their dissertation projects in peer-reviewed journals, working papers series or presenting them at international conferences. An indicative list of student publications includes:

• Apergis, N. and Vouzavalis (2018). Asymmetric pass through of oil prices to gasoline prices: Evidence from a new country sample. Energy Policy114, 519-528.
• Missiou, O.and D. Psychoyios (2017). Estimating the size of Shadow Economy with Electricity Consumption Method. Proceedings of the European Financial Management Association 2017 Annual Meetings June 28- July 1, 2017 Athens, Greece.
• Charalampous, G.and R. Madlener (2013). Risk Management and Portfolio Optimization for Gas- and Coal-fired Power Plants in Germany: A Multivariate GARCH Approach. FCN Working Papers 23/2013, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
• Charalampous, G.and R. Madlener (2013). Risk Management and Portfolio Optimization for Gas- and Coal-fired Power Plants in Germany: A Multivariate GARCH Approach.  Proceedings of 14th IAEE European Energy Conference, Rome, Italy.
• Christofidou, Τ. Dergiades and R. Madlener (2012). The Nexus between Natural Gas Spot and Futures Prices at NYMEX: Do Weather Shocks and Non-Linear Causality in Low Frequencies Matter? FCN Working Papers 17/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).

Duration of studies

The MSc in Energy and Finance (full-time) is a 14-month programme taught over three terms. Lectures mainly take place on weekday evenings. The MSc in Energy and Finance is also available in part-time mode over 26 months for those who cannot commit to a full-time programme either for work or other reasons.

The Academic Faculty

Faculty Members

	Dr Eleni Heracleous Associate Professor Dean
	Professor Panayiotis Bozanis +30 2310 807501 pbozanis@ihu.gr
	Professor Periklis Chatzimisios +30 2310 807501 pchatzimisios@ihu.gr
	Dr Maria Drakaki Associate Professor +30 2310 807524 mdrakaki@ihu.gr
	Dr Christos Tjortjis Associate Professor +30 2310 807576 c.tjortjis@ihu.edu.gr
	Dr Vassilios Peristeras Assistant Professor +30 2310 807539 v.peristeras@ihu.edu.gr
	Dr Dimitrios Tzetzis Assistant Professor +30 2310 807548 d.tzetzis@ihu.edu.gr

Other Research and Teaching Personnel

	Dr Christos Berberidis Research and Teaching Staff +30 2310 807534 c.berberidis@ihu.edu.gr
	Dr Dimitrios Baltatzis Research and Teaching Staff d.baltatzis@ihu.edu.gr
	Dr Stavros Stavrinides Research and Teaching Staff s.stavrinides@ihu.edu.gr
	Dr Georgios Martinopoulos Academic Associate +30 2310 807533 g.martinopoulos@ihu.edu.gr
	Dr Leonidas Akritidis Academic Associate
	Dr Dimitrios Karapiperis Academic Associate
	Dr Katerina Tzafilkou Academic Associate

Visiting Faculty

Labs

Students make extensive use of our recently set up Energy Lab. Facilities include a brand new computer-controlled Photovoltaic system, a computer-controlled Solar Thermal system, a computer controlled PEM Fuel cell, a computer controlled stirling engine, a 15kW organic Rankine cycle, a wind tunnel as well as an IR camera and environmental meters that students use during their studies and dissertation research.

Fees & Financing

Fees

The programme fees for the MSc in Energy and Finance is 4000€. The amount is payable in two instalments for the full time mode or in four instalments for the part time mode at the beginning of each semester. The fees are also eligible for financing through LAEK 0,45% – OAED programme.

Deposits

If you have been accepted to a postgraduate programme, you will need to make a payment of the deposit of 500 Euros to secure your place. This amount will count towards the first instalment of your tuition fees. The deposit is non-refundable once you have commenced your studies at the IHU. Prior to that, a refund can be made but a 20% administrative fee will be retained. The deposit can be paid by bank transfer or bank draft. Credit card payments can be made through electronic banking (contact your Bank as handling fees may apply).

Scholarships

The School of Science & Technology offers a number of scholarships for the programmes it offers, covering a significant proportion of the fees. These scholarships are competitive. Award criteria include the quality of the first degree, the undergraduate grades of the candidate, his/her command of the English language and overall profile. Candidates for scholarships should include a separate letter with their application documents in which they request to be considered for a scholarship, stating the reasons why they think they qualify.

Programme announcement – Admissions

Next MSc in Energy and Finance class starts in October 2021. Interested parties are invited to submit their application by September 2021 or until places are filled, by following instructions at the page ‘Apply to UCIPS’.

Programme announcement

Ideal Career path

After the completion of the MSc programme in the Energy and Finance students may apply into positions in the energy and financial sector as well, which call for:

• Energy financial analyst
• Trading energy commodities
• Forecasting future energy markets trends
• Financial Modeling
• Monitoring and managing risk exposure
• Statistical analysis of energy related data
• Energy policy, research and analysis

In addition to technical skills gained through study, our students benefit from the University’s excellent Careers Office in order to attain essential Soft Skills (e.g. communication skills, interview preparation, CV writing etc.) to better prepare for the job market.

Location

The MSc in Energy and Finance takes place in the facilities of the School of Science & Technology of the University Center of International Programmes of Studies of the International Hellenic University in Thermi-Thessaloniki.

Contact

Postal address: School of Science & Technology Department of School of Science & Technology University Center of International Programmes of Studies 14th km Thessaloniki – Nea Moudania 570 01 Thermi, Thessaloniki, Greece Tel: +30 2310 807 526/529 Email: : infotech@ihu.edu.gr