Economic Analysis I


  1. GENERAL
SCHOOL SOCIAL POLITICAL AND ECONOMIC SCIENCES
DEPARTMENT SOCIAL POLICY
LEVEL OF STUDIES LEVEL 6
COURSE CODE 11 SEMESTER 1st
COURSE TITLE ECONOMIC ANALYSIS I
TEACHINGACTIVITIES
If  the ECTS Credits are distributed in distinct parts of the course e.g.lectures, labsetc. If the ECTS Credits are awarded to the whole course, then please indicate the teaching hours per week and the corresponding ECTS Credits.
TEACHING HOURS PER WEEK ECTS CREDITS
3 6
Please, add lines if necessary.Teaching methods and organization of the course are described in section 4.
COURSETYPE

Background, General Knowledge, Scientific Area, Skill Development

Background
PREREQUISITES: NO
TEACHING & EXAMINATION LANGUAGE: GREEK
COURSE OFFERED TO ERASMUSSTUDENTS: ΝΟ
COURSE URL: https://eclass.duth.gr/courses/KOM09121/
  1. LEARNING OUTCOMES
Learning Outcomes
Please describe the learning outcomes of the course: Knowledge, skills and abilities acquired after the successful completion of the course.
In this course presented are at an introductory level the basic concepts, methods and tools used by economists when investigating the central problems of modern societies. It focuses on microeconomic analysis issues, as developed within the paradigm of neoclassical theory, which currently dominates the field. The microeconomic analysis focuses on the examination of the decisions made by economic units (individuals, households, enterprises, and the public sector) for the production, distribution and consumption of specific goods.

This course provides also a brief overview of the historical evolution of economic thought and the key alternative theoretical approaches that developed especially in the 19th and 20th century. This historical perspective provides students with the opportunity to evaluate and critically approach the structure of the main arguments and conclusions of modern Microeconomic Analysis.

Upon completion of the course students should be able to:

• understand the assumptions and basic tools and methods of economic analysis in exploring contemporary social problems

• understand the mechanism and operation of the free market in accordance with the neoclassical model.

• understand the factors that shape the supply and demand of goods and the factors of production.

• calculate the quantitative dimensions of the supply and demand of goods.

• critically approach the neoclassical microeconomic theory.

General Skills
Name the desirable general skills upon successful completion of the module
Search, analysis and synthesis of data and information,

ICT Use

Adaptation to new situations

Decision making

Autonomous work

Teamwork

Working in an international environment

Working in an interdisciplinary environment

Production of new research ideas

Project design and management

Equity and Inclusion

Respect for the natural environment

Sustainability

Demonstration of social, professional and moral responsibility and sensitivity to gender issues

Critical thinking

Promoting free, creative and inductive reasoning

Search, analysis and synthesis of data and information,

ICT Use

Adaptation to new situations

Decision making

Working in an international environment

Working in an interdisciplinary environment

Critical thinking

Promoting free, creative and inductive reasoning

  1. COURSE CONTENT
•Economic theory. Basic concepts. Brief historical overview and mainschools of thought. Economic science and economy.Positive and normative economics. Microeconomic and Macroeconomic approach.

• Economic models andtheories. Economic data, diagrams and measurements. Index numbers and inflation. Nominal and realvariables.

•Mixed economy and the role of the state.

•Basic concepts in microeconomic analysis. Demand and supplyof goods. Factors affecting the demand and supply (of goods and production factors). The role of the market. Prices and market equilibrium. Substitutes and complements. Changes in demand and supply. Graphic representations. Excess supply and excess demand. Shifts in supply and demand curves.

• Price elasticity of demandand supply, income elasticity of demand, cross price elasticity. Definitions and types of elasticity. Normal and inferior goods. Luxuries and necessities. Total expenditure on a good(and total revenue of producer) for changing prices. Short-run and long-run elasticity.

•Consumer choice and budget constraint. In difference curves.

•Organization of businessand production. Product,costs, revenues, profits.Calculation of marginal cost from total cost. Supply curve of the firm and the market.Long term and short term. Calculation of marginal revenue. Output level profit maximization.

•Market structure and competition (perfect competition, imperfect competition, monopoly). Perfect competition: conditions, demand curve. Pure monopoly: conditions,demand curve. Imperfect competition and demand curves. Oligopoly and monopolistic competition:conditions and effects.

  1. LEARNING & TEACHING METHODSEVALUATION
TEACHINGMETHOD
Face to face, Distance learning, etc.
Face to face
USE OF INFORMATION & COMMUNICATIONS TECHNOLOGY (ICT)
Use of ICT in Teaching, in Laboratory Education, in Communication with students
1. Use of power point during lectures.

2. Posting of teaching material, bibliography, slides, exercises, notes, outline and evaluation methods of the course on e-class.

3. Use of polls, brainstorming, mentimentor, breakout rooms or creation of working groups during lectures.

 

TEACHING ORGANIZATION

The ways and methods of teaching are described in detail.

Lectures, Seminars, Laboratory Exercise, Field Exercise, Bibliographicresearch& analysis, Tutoring, Internship (Placement), Clinical Exercise, Art Workshop, Interactive learning, Study visits, Study / creation, project, creation, project. Etc.

 

The supervised and unsupervised workload per activity is indicated here, so that total workload per semester complies to ECTS standards.

Activity Workload/semester
1. Lectures: During the lectures, the material is presented both theoretically and with the use of examples. The lectures take place in an interactive way, in order to favor the interventions of students and to sharpen their critical ability, in which is given special emphasis. 100
2. Tutoring: During the tutorials, exercises are solved, examples are presented and questions of students are answered for better comprehension of the course material.
3. Invitation of speakers from public bodies and organizations related to the thematic units of the course.
Homework 30
Problem solving 20
Course total 150
 
Student Evaluation

Description of the evaluation process

 

Assessment Language, Assessment Methods, Formative or Concluding, Multiple Choice Test, Short Answer Questions, Essay Development Questions, Problem Solving, Written Assignment, Essay / Report, Oral Exam, Presentation in audience, Laboratory Report,Clinical examination of a patient,Artistic interpretation, Other/Others

 

Please indicate all relevant information about the course assessment and how students are informed 

 

A written examination at the end of the semester (100%).

It can include Multiple Choice Test, Right-wrong Test, Short Answer Questions and Problem Solving.

 

 

  1. SUGGESTED BIBLIOGRAPHY
Compulsory

•KrugmanP. &WellsR., 2019, Μικροοικονομική σε Διδακτικές Ενότητες, Αθήνα: Εκδόσεις Gutenberg.

•Additional notes and exercises from the teachers will be posted on the course website.

Optional

• Begg D., Fischer S. & Dornbusch, 2006. Εισαγωγή στην Οικονομική. Τόμος Α΄. Αθήνα: Εκδόσεις Κριτική.

•Mankiw, G.N. & Taylor M.P., 2010. Αρχές Οικονομικής Θεωρίας. Τόμος A’. Αθήνα: Εκδόσεις Gutenberg

•Bowles, S. &Edwards, R. 2000. Κατανοώντας τον Καπιταλισμό. Τόμος Α΄. Αθήνα: Gutenberg,.

•Ferguson, K., 2004. Βασικές Αρχές Οικονομικής Θεωρίας. Αθήνα: Εκδόσεις Κριτική.

•Heilbroner, R.L., 2000. Οι Φιλόσοφοι του Οικονομικού Κόσμου. Αθήνα: Εκδόσεις Κριτική.

•Heilbroner, R.L. καιThurow, L.C., 1984. Για την Κατανόηση της Μικροοικονομικής. Αθήνα: Εκδόσεις Παπαζήσης.

•Parkin, M., Powell, και Matthews, K. (2013), Αρχές Οικονομικής, Αθήνα: Εκδόσεις Κριτική

•Robinson, J. και Eatwell, J., 1973. Εισαγωγή στη Σύγχρονη Οικονομική. Αθήνα: Εκδόσεις Παπαζήσης.

•Πετραλιάς, Ν.Σ., 1991. Πολιτική Οικονομία Ι (Πανεπιστημιακές Παραδόσεις 1991-92). Αθήνα: Πανεπιστήμιο Αθηνών.

•Samuelson, R. A. &Dordhaus, W. D., 2000. Οικονομική. 16η διεθνής έκδοση. Τόμος Α΄. Αθήνα: Εκδόσεις Παπαζήσης.

•Σταμάτης, Γ., 1991, Νεοκλασική Μικροοικονομική Θεωρία, Αθήνα: Εκδόσεις Κριτική

•Varian, H. (2006) Μικροοικονομική. Μια σύγχρονη Προσέγγιση. ΕκδόσειςΚριτική

 

ANNEX OF THE COURSE OUTLINE

 Alternative ways of examining a course in emergency situations

Teacher (full name):
Contact details:
Supervisors: (1)
Evaluation methods: (2)
Implementation Instructions: (3)
  • Please write YES or NO
  • Notedowntheevaluationmethodsusedbytheteacher, e.g.
  • written assignmentor/andexercises
  • writtenororalexaminationwithdistancelearningmethods, provided that the integrity and reliability of the examination are ensured.
  • In the Implementation Instructions section, the teacher notes down clear instructions to the students:
  1. a) in case of written assignment and / or exercises: the deadline (e.g. the last week of the semester),the means of submission, the grading system, the grade percentage of the assignment in the final grade and any other necessary information.
  2. b) incaseoforal examination with distance learning methods: the instructions for conducting the examination (e.g. in groups of X people), the way of administration of the questions to be answered, the distance learning platforms to be used, the technical means for the implementation of the examination (microphone, camera, word processor, internet connection, communication platform), the hyperlinksfor the examination, the duration of the exam, the gradingsystem, the percentage of the oral exam in the final grade, the ways in which the inviolability and reliability of the exam are ensuredand any other necessary information.
  3. c) incaseofwritten examination with distance learning methods:the way of administration of the questions to be answered, the way of submitting the answers, the duration of the exam, the grading system, the percentage of the written exam of the exam in the final grade, the ways in which the integrity and reliability of the exam are ensured and any other necessary information.

There should be anattached list with the Student Registration Numbersonly of students eligible to participate in the examination.

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