This course examines market behavior and focuses on the actions and reactions of business firms and consumers in a variety of market environments. The impact of different market structures (including perfect competition, monopoly and oligopoly) on production and consumption is analyzed. No prior knowledge of economics is assumed. The objectives of the course are: 1. To master the basic tools of microeconomics: supply and demand analysis, the theories of consumer and producer behavior, and market structure analysis. 2. To introduce the analytical foundations for managerial decision-making and the formulation of a firm's competitive strategy. 3. To provide a framework for analyzing the role of government in a market economy and to explore how a firm's behavior is related to its overall environment.
- Teacher: Lampros Pehlivanos