This course is an extension of the introductory microeconomics course. The student has the opportunity to expand in depth into topics of microanalysis and to apply micro theories in business decision making. For prospective graduate students, future economists and/or businesspeople, the course constitutes a necessary and fundamental step in their overall economic and business education.

At the end of the course, the optimally successful student should be able to: Demonstrate detailed knowledge of the theory of consumer behavior∙ Analyze the implications of network externalities∙ Apply the concepts of consumer and producer behavior patterns in realistic examples taken from today's markets∙ Evaluate the decisions made by producers in the allocation of scarce resources under various market conditions (i.e. perfect competition, monopoly, oligopoly, and monopolistic competition)∙ Demonstrate detailed knowledge of pricing with market power∙ Evaluate government policies using the concepts of consumer and producer surplus.

Decision-making

Autonomous working

Collaborative working

Advancement of a free, productive, and inductive mind

1. Managerial Decision Making – Economic Models

2. Equilibrium Price and Output Determination (Supply and Demand model)

3. Elasticities

4. Consumer Choice

5. Managerial Decision Making in Production

6. Managerial Decision Making based on Productivity and Costs

7. Profit Maximization

8. The Make or Buy Decision

9. Equilibrium Price and Output Determination in Different Market Structures∙ Perfect Competition

10. Equilibrium Price and Output Determination in Different Market Structures∙ Monopoly

11. Equilibrium Price and Output Determination in Different Market Structures∙ Oligopoly (Strategic Behavior)

12. Equilibrium Price and Output Determination in Different Market Structures∙ Monopolistic Competition

13. Managerial Decision Making under Uncertainty

Language of Assessment: Greek

Method of Assessment:

(a) Midterm exams (30%)

(b) Short paper (10%)

(c) Written term exam (60%)

that includes:

-Multiple choice questions

-Short answer questions

-Problem-solving in business and organizations

Perlof, J. & Brander, J. (2018), Managerial Economics and Strategy (in Greek). Αθήνα: BROKEN HILL PUBLISHERS LTD. Code in Εύδοξος: 77107350

Salvatore D. (2012), Managerial Economics (in Greek). Αθήνα: ΔΑΡΔΑΝΟΣ ΚΑΙ ΣΙΑ Ε.Ε. Κωδικός Βιβλίου στον Εύδοξο:. Code in Εύδοξος: 33074386