Economic Theory I


Undergraduate level | 1st semester | Compulsory Unit | ΟΙΚ201


Credit Units ECTS: 5 

Teaching Hours Weekly: 3   

Course Type: General Knowledge

Prequisites: -- 

Teaching and Examination Language: Greek

For Erasmus students study course and exams are offered in English.

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Course Material

Consumer's behaviour. Utility Theory and preferences. Mathematics of Optimization. income and substitution effect. Relationship demand between two goods. Market demand and elasticity. supply function. Cost function. Production function. Perfect competition. Effectiveness of perfect competition. Models of imperfect competition. business demand for production factors. Monopoly. Monopolistic Competition. Oligopoly.

Learning Outcomes

Analysis and investigation of the economic behavior of key economic entities with diagrammatic and mathematical analysis, according to the mechanisms of modern microeconomic theory.

General Skills

Work autonomously, make decisions. Advance creative and causative thinking

Learning and Teaching Techniques - Evaluation 

Teaching Methods: Face to face

Use of ICT: Yes

Course Organization:

Activityemester Work Load
Lectures 35
Study and Literature Review 50
Practical Issues 40
Total 125

 Assessment Methods:

Final exam at the end of the semester.

Suggested Bibliography

  • Kotti, G. and Α. Kotti, (2000), ‘Modern Microeconomics’, Benou, Athens.
  • Kotti, G. and Α. Kotti (1994), ‘Microeconomic theories and applications’, Sbilia, Athens.
  • Κotti, G., (1996), ‘Economics for all’, Sbilia, Athens.
  • Begg, D., R. Dornbush and S. Fischer (1999), ‘Introductory economics’ Volume I, Kritiki, Athens.
  • D. Begg, R. Dornbush and S. Fischer, (1997), ‘Economics’, McGraw Hill, New York.
  • Nicholson, W. (2008), ‘Microeconomic theory: Basic principles and extensions. Volume I and II,, 8th edition, Kritiki, Athens.
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