Department of Economics

TYPE: COMPULSORY

TITLE: MICROECONOMIC THEORY Ι

CODE: ECO201

SEMESTER: Α (2^nd year)

INSTRUCTORS:  Α. PAPANDREOU, F. KOURANDI             

Course link: https://eclass.uoa.gr/courses/ECON289/  

Course description

The purpose of the course is to give students a thorough understanding of the analytical tools and principles of economics that are applied to the behaviour of individual decision makers, both consumers and producers. Lectures cover:

a.  Consumer theory: Preferences and utility. Budget constraint. Optimal Choice. Income and substitution effects. Deriving individual and aggregate demand curves. Elasticities. Consumer surplus.

b.  Production and cost theory: Inputs and production functions. Supply function. Cost minimization and cost curves. Profit maximization.

The successful completion of this course should help students understand the nature and scope of formal microeconomic analysis and how it can be applied.  It also offers a rigorous presentation of theoretical and applied models of individual optimization expressed in mathematical terms.

Knowledge of introductory elements of economics and mathematical calculus is taken for granted.

Books

Main textbook

Hal R. Varian (2015) Microeconomics: a modern approach, Greek edition.

Additional books

Walter Nicholson, Christopher Snyder (2018) Microeconomic Theory: basic principles and extensions, Greek edition.  

David Besanko, Ronald R. Braeutigam (2009) Microeconomics, Greek edition.