C508 Principles of Economic Theory
Professor: Theodoros KOUTSOBINAS
The objective of this course is to present in a comprehensible manner the basic principles of economic theory. In order to understand the nature of financial effects and current economic developments contemporary examples of the economic reality of the free market are utilized. By analyzing fundamental principles of economic behavior of individuals, the course examines issues of Microeconomics and Macroeconomics. In the framework of the course, subjects such as demand, supply, commodity prices, consumer choice, risk and information, economic welfare, sector and competition policy are analyzed. Particular emphasis is given to macroeconomic issues such as inflation, unemployment and effective demand and supply with the support of simple economic models. Meanwhile, themes such as different forms of market goods, the real and monetary economy and the impact of financial markets are examined. Particular reference is given to economic issues which help shape an enhanced view of the new trends and developments with regard to economic aspects of cultural management and offer the opportunity for a deeper understanding of specialized economic analysis of cultural goods and the way they differ from standard commodities.