Introduction to Economic Analysis Ι
The course aims to introduce students to the basic concepts of political economy. We examine the behavior of consumers and the firm and we derive the supply and demand curves. We analyze the role the price mechanism on welfare. We examine the government intervention on the markets and its effects on welfare. We analyze the optimal provision of products with externalities. We examine role of international trade to a countrys welfare. We analyze the various forms of market competition: perfect competition, monopoly, monopolistic competition and oligopoly. Finally, we analyze the input market.