The course deals with the following subjects: What is Economics, How economists explain decision making by producers and consumers, how economies are and can be organized

 Upon successful completion of this course the students will acquire new knowledge and specific skills on the following subjects:

• Understand how the economic decisions are made by producers and consumers
• Understand how the economy is integrated in the society
• Will have knowledge of economic science concepts
• Will be able to understand market operation
• Describe the features of the national economy

• Decision making
• Work autonomously
• Cooperate for team work
• Work in international setting
• Work in interdisciplinary environment
• Generate novel research ideas
• Capacity for critical thinking and self-assessment
• Advance free, creative  and causative thinking

1. Introduction to homo oeconomicus and the Economics
2. Historical evolution: markets in society towards the societies of the market
3. Demand and Supply Analysis, Consumer Theory
4. Production cost and Theory of the firm.
5. Pricing and market organization.
6. Market organization
7. Consumer and producer surplus, economic welfare.
8. External economies and diseconomies.
9. Alternative approaches to the economic science.
10. Macro-economics, national accounting
11. Macro-economic equilibrium
12. income and employment, consumption, Savings, investments
13. Monetary and financial markets 

Use of Information and Communication Technology

• Power point presentations
• E-class support
• e-books Kalippos (Introduction to Micro-economics, Introduction to Macro-economics)

Assessment Method

Ι.Written final examination (70%):
- Questions of theoretical knowledge.
- Theoretical problems to be resolved.

ΙΙ. Mid-term examination (30%).

• Economics, Stephen Ison and Stuart Wall, Prentice Hall, 2006, 4th edition
• Understanding Capitalism, Samuel Bowles, Richard Edwards and Frank Roosevelt, Oxford University Press, 2005, 3th edition.
• Economics, Paul Krugman, Robin Wells, Macmillan International, 2018, 5th edition