Course aims:

This course covers several topics related to microeconomics.
This introductory course teaches the fundamentals of microeconomics.
Also, topics include consumer theory, producer theory, and the behaviour of firms, market equilibrium, monopoly, issues about costs of production, completion, price, and the role of the government in the economy, allocation of net income.

Course Entry Requirements:

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Course contents:

Ch1. Introduction to Political Economy Ch2. Economic Activity - The Main Form Social Action Ch3. General Characteristics of Exchange Economy Ch4. Of the Origin and Use of Money Ch5. The Modern System of Market Economy Ch6. Production Factors and Their Use Ch7. Costs of Production Ch8. Market, Competition, Price Ch9. Allocation of Net Income

Teaching methods:

Lecturing, Demonstrating, Collaborating (i.e. Classroom discussion, Debriefing, Classroom Action Research), Recitation.

Learning outcomes:

• To provide an introduction to fundamentals of microeconomics; • The course is intended both for graduate students who wish to develop a solid background in game theory in order to pursue research in the applied fields of economics and related disciplines, and for students wishing to specialize in economic theory; • To give an introduction and to learn, judge, make decisions, have a personal opinion or interpretation to some of the main subjects in this field: economic activity, exchange economy, market economy, production factors, cost production, competition, price, net income.

Learning outcomes verification and assessment criteria:

Written test examination– 70%; Verification during semester – 30%.

Recommended reading:

J. SHIELD NICHOLSON, “Principle of political economy”, McMillan and Co, New York and London, 1893, Introduction, page 10.
JOHN LANCELOT SHADWELL, “A system of political economy”, Trubner and Co, Ludgate Hill, 1877, Chapter I, page 1.
REV. T. R. MALTHUS M.A, “Principles of Political Economy”, -, -, -, Chapter II, page 50 (value) William.
ADAM SMITH, “ The Wealth of Nations”, Barnes&Nobles, New York, 2004, BOOK I, Chapter IV, page 66.
HARTUR TWINING HADLEY, “Economics, an account of the relation between private property and public welfare”, G. P. Putman’s son, London, 1896, Chapter VII, page 190.
SAMUELSON P. and NORDHAUS w., Economics, McGraw-Hill, New York, 2009, Book.