Undergraduate Programme

Political Economy

Course goal

The course aims at the understanding of the structure, the behavior and the performance of the individual subjects of the economy as well as of the economy as a whole. Upon completion of the course, students are going to be able to understand the decision-making mechanisms operate in an economy.

Course subject

The course consists of 13 lectures covering the major scientific fields of microeconomics and macroeconomics:

01 The notion of political economy
02 Fundamental economic problem, fundamental economic principle, production factors and production possibilities curve
03 Needs, goods, utility, indifference curves and income restriction
04 Demand, supply, formation of prices, elasticity of demand, elasticity of supply
05 Production and production cost
06 Types of enterprises, market structures on the basis of competition
07 National accounts
08 Aggregate supply, aggregate demand, multiplier
09 Inflation, unemployment
10 Intermediate written exams
11 Financial system, rating houses
12 Fiscal policy, monetary policy
13 Economic crisis


Students’ performance evaluation will be based on final written exams (maximum grade: 5 points), on intermediate written exams (maximum grade: 3 points) and on two take-home personal assignments (maximum grade: 1 point per assignment).


  • Arnold R. (2007), Εισαγωγή στην Οικονομική, Επίκεντρο (Εύδοξος: 14947)
  • Case K. E., Fair R. C. και Oster S. M. (2012), Αρχές Οικονομικής Θεωρίας, Τζιόλας (Εύδοξος: 18549061)
  • Parkin M., Powell M. και Matthews Κ. (2013), Αρχές Οικονομικής, Κριτική (Εύδοξος: 32997689)