The main scope of the course is to make students familiar with the principles of Μicroeconomics and the Theory of the Firm, analyzing the relations and the rules under which, the economic units operate (consumers, producers, firms etc.). Furthermore, students will understand the overall structure of specific markets (goods and services, and factors of production). An introduction to behavioral economics will also be presented during the lectures.

After successfully attending that course, students will be able to:

• Understand the principles of economic theory

• Understand how simple and complicated markets work

• Understand how the overall economic system works

• Interpret the basic rules of economics in regard to each economic unit (consumer, producer, state etc.)

• Efficiently use the empirical tools of microeconomics (elasticity, maximization of profits, utility etc.) in order to take the best decisions in every economic issue (pricing, consumption, production cost, quantity of output etc.)