SCHOOL

OF AGRICULTURAL SCIENCES

ACADEMIC UNIT

AGRICULTURE

LEVEL OF STUDIES

UNDERGRADUATE

COURSE CODE

GEB0104

SEMESTER

1

COURSE TITLE

 Principles of Economics
INDEPENDENT TEACHING ACTIVITIES WEEKLY TEACHING
HOURS 		CREDITS
Lectures 3
Lab / Op. Exercises 0
Exercises 0

TOTAL HOURS

 3 5
COURSE TYPE General background
PREREQUISITE COURSES No
LANGUAGE OF INSTRUCTION and EXAMINATIONS In Greek
IS THE COURSE OFFERED TO ERASMUS STUDENTS Yes

COURSE WEBSITE (URL)

https:// ttps://eclass.uowm.gr/courses/AGRO123/

2. LEARNING OUTCOMES

Learning Outcomes
Upon successful completion of the course, the student should:
1. Understand the basic concepts of economics and the operation of the financial system
2. Acquire the ability to critically consider the methods and tools for evaluating financial performance
3. Become familiar with the techniques and tools of economic theory
4. Be able to distinguish the microeconomic and macroeconomic approach in economics
5. Understand the most important applications of economic theory in real economics
6. Acquire the basics for deepening into more specialized courses with financial content.

General Competences
 Search, analysis and synthesis of data and information, using the necessary technologies
 Adaptation to new situations
 Decision making
 Exercise of criticism and self-criticism
 Promoting free, creative and inductive thinking
 Development of interdisciplinary thinking

3. SYLLABUS

 Section 1: Basic economic concepts
 Concepts of economics
 Microeconomics and Macroeconomics
 Goods and services
 Section 2: Production Possibilities Curve
 Production, sectors and means of production
 Factors of production
 Production Possibilities Curve
 Economic unit
 Section 3: Theory of supply and demand (I)
 The concept of demand / Demand Function
 Factors affecting Demand
 Demand elasticity
 Section 4: Theory of supply and demand (ΙΙ)
 The concept of supply / Supply Function
 Factors affecting Supply
 Supply elasticity
 Section 5: Market Theory
 Concepts and forms of market
 Market structure
 Types of free markets
 Section 6: Theory of value formation and General Equilibrium
 Demand and supply of inputs under conditions of perfect / incomplete competition
 General equilibrium - General equilibrium methods
 Market interdependence and general equilibrium
 Section 7: Budget constraint
 Consumer’s budget constraint
 Consumers equilibrium
 Disturbance of the consumers equilibrium
 Section 8: Consumer Surplus and Producer Surplus
 Consumer surplus
 Producer surplus
 Market efficiency
 Section 9: Gross Domestic Product
 Basic macroeconomic concepts
 Product and aggregate demand
 Section 10: Consumption, Saving and Investment
 Consumption function
 Consumption and Saving
 Saving function
 National accounts of savings and investment
 Types and determinants of investments
 Section 11: International Trade
 International economics and politics
 Current account balance
 Absolute and comparative advantage
 Section 12: Exchange rates
 Money and prices
 Banking institutions and monetary policies
 Exchange rates
 Balance of payments
 Section 13: Unemployment, inflation and public debt
 Unemployment and unemployment types
 Inflation, causes and inflation types
 Public debt

4. TEACHING and LEARNING METHODS - EVALUATION

DELIVERY
 		Face-to-face (Lectures)
USE OF INFORMATION AND COMMUNICATIONS TECHNOLOGY
 		Use of ICT for supporting the learning process via the electronic platform e-class in teaching and communication with students, utilization of moodle platform in cases of remote examinations

TEACHING METHODS
Activity Semester Workload
Lectures 39
Autonomous studying 86
Course total (25 hours of workload per credit uni 125
STUDENT PERFORMANCE EVALUATION 1. Formal written examination at the end of the semester
2. The written examination includes:
 Multiple choice questions
 Short answer questions
 Problem solving

5. SUGGESTED BIBLIOGRAPHY

-Suggested bibliography :
 Begg, S. Fisher, R. Dornbusch, “Εισαγωγή στην Οικονομική”,2η Έκδοση, Εκδόσεις Κριτική, 2006.
 Αλογοσκούφης Γ., 2013. Διεθνής Οικονομική και Παγκόσμια Οικονομία, Εκδόσεις Gutenberg.
 Krugman P., Obstfeld M., Melitz M., 2016. Διεθνής Οικονομική, Θεωρία και Πολιτική, Εκδόσεις Κριτική.
 Parkin Michael, Powell Melanie, Matthews Kent, Aρχές οικονομικής, Parkin Michael, Powell Melanie, Matthews Kent, Εκδοσεις Κριτική, 2013.
 Begg David, Vernasca Gianluigi, Fisher Stanley, Dornbusch Rudiger, Εισαγωγή στην Οικονομική, Εκδόσεις Κριτική, 2015.
 Ζιωγάνας Χ. (2001). Αρχές Μικροοικονομικής Ανάλυσης. Ζήτης, Θεσσαλονίκη.
 Varian H. (2006). Μικροοικονομική: Μια Σύγχρονη Προσέγγιση, Κριτική, Αθήνα.
-Related academic journals: