Microeconomics
Undergraduate level | 3rd semester | Compulsory Unit | ΟΚ2101
Credit Units ECTS: 5
Teaching Hours (Weekly): 3
Course Type: General Background
Prequisites: --
Teaching and Examination Language: Greek
For Erasmus students study course and exams are offered in English.
Course Material
Introduction to economics. Consumer theory. Preference theory. Utility maximization. Indifference curves. Budget constraint. Consumer equilibrium. Changes in Price and Income. Applications. Substitution and income effects. Applications. Elasticity of demand. Labor-leisure choice model. Labor supply. Expected Utility. Home production model. General equilibrium model. Edgeworth box. Mathematical applications. Producer theory. Theory of production. Perfect competition. Assumptions. Short-run and long-run equilibrium. Monopoly. Natural Monopoly. Monopolistic competition. Oligopoly. Applications. The Inputs market. Perfect competition. Monopsony. Demand for labor. Applications.
Learning Outcomes
The analysis of consumer’s theory and theory of the firm is the main objective of the course. The above mentioned analysis is based in mathematical and diagrammatical methods according to the rules of modern microeconomic theory. Students should be able to evaluate the applications of microeconomic theory in daily examples.
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:
| Activity | Semester Work Load |
|---|---|
| Lectures | 35 |
| Study and Literature Review | 50 |
| Practical Issues | 40 |
| Total | 125 |
Assessment Methods:
The total mark of the course that each student gets in the final exam.
Suggested Bibliography
- Microeconomic- a modern approach, Hal. R. Varian, Kritiki, 2006.
- Microeconomic Theory, G., Palaiologos, Stamouli, Athens, 2006.