Microeconomics

The goal of the course is to provide students with a broad range of economic concepts, theories and
analytical techniques for being able to address economic arguments and current issues and the behaviour
of consumers, producers and governments when making their individual choices within the economic
system.
The course mainly deals with Microeconomics and Welfare Economics, addressing consumer's choices and
market demand, producer's choices of output level and market types, the government's role in a national
economy, as a reaction to market failures.
According to the objectives of the degree course "International Science and European Institutions", the
course will help students to understand the government policy-making process about economic issues and
the needs of the different economic units (households and firms) when demanding and supplying goods
and services; this will be very useful fot those willing to work in public sector or foreign-oriented firms

During the course, the students will be introduced to the theoretical and empirical fundamentals of
economics, thus being able to address the microeconomic aspects of the economic context and to evaluate
the impact of its changes on the choices of the economic agents.
On successful completion of the course, students will be able to:
ü analyse, describe and explain core economic terms, concepts, and theories, using proper
vocabulary, analytical tools, charts, data and graphs;
ü understand the most important market mechanisms, such as the drivers of consumers and
producers' behaviour and choices, the allocative role of equilibrium, the prices as a result of
individual decisions and the different market structures;
ü learn to identify welfare issues, market failures and corresponding solution proposals in current
economic policy, to evaluate policy impact and design, policy making processes, thus accounting
for the role of the government in the economic field;
ü use and apply analytical tools and methods in exploring current market economies and develop the
ability to identify variables and functions and to use equations, tables and diagrams for modelling
reality and everyday life according to an economic perspective.