Microeconomics analyze the behavior of producers and consumers and the organization of different forms of markets. The course focuses more on applications of microeconomics that concern managers and engineers and less on pure theory. It is divided into three parts. The first part presents the theory and empirics of demand: utility functions, the consumer equilibrium, demand functions, and elasticities. The second part is dedicated to the theory and empirics of production: production functions, the producer equilibrium and cost functions. Finally, the third part examines the two extreme market structures, namely perfect competition and monopoly.
Written exams at the middle and the end of the semester.
· Mansfield, E. (2000): Managerial Economics: Theory, Applications and Cases, Benos Publ., Athens, (in Greek).
· D. Begg, S. Fischer, R. Dornbusch, & Vernansca, G. (2016): Economics, vol. 1, Kritiki Publ., Athens (in Greek).
· Nicholson W. & Snyder C. (2018): Microeconomic Theory: Basic Principles and Extensions, Kritiki Publ., Athens, (in Greek).