Course Information
FacultySocial and Economic Sciences
Cycle / Level1st / Undergraduate
Teaching PeriodSpring
CoordinatorKonstantinos Papadopoulos
Course ID100001479

Programme of Study: UPS School of Economics (2013-today)

Registered students: 171
OrientationAttendance TypeSemesterYearECTS
OIKONOMIASCompulsory Course belonging to the selected specialization (Compulsory Specialization Course)636

Class Information
Academic Year2018 – 2019
Class PeriodSpring
Faculty Instructors
Class ID
Course Type 2016-2020
  • Scientific Area
Course Type 2011-2015
Specific Foundation / Core
Mode of Delivery
  • Face to face
Language of Instruction
  • Greek (Instruction, Examination)
General Prerequisites
A good knowledge of microeconomic theory.
Learning Outcomes
After the end of the semester, the student should clearly understand and be able to analyze using microeconomic models: • Price discrimation strategies (1st,2nd,3rd degree) and their applications • The competitive equilibrium in models with multiple goods, with uncertainty and incomplete insurance markets • The concepts of risk and insurance, pricing of insurance products • The concepts of moral hazard and adverse selection Also the student will familiarize with using the computation software Mathematica/Maxima (syntax, solving optimization problems, solving systems of equations)
General Competences
  • Apply knowledge in practice
  • Make decisions
  • Generate new research ideas
  • Be critical and self-critical
  • Advance free, creative and causative thinking
Course Content (Syllabus)
We will deal with price discrimination strategies as a tool for increasing a firm's profit and check their implications for consumers and social welfate. We will present the general equilibrium model of perfect competition in order to demonstrate the interdependence of markets, the calculation and the existence of equilibria. The foundations of efficiency of competitive equilibrium. We will continue with the presentation of the theory of individual choice under uncertainty: Arrow-Debreu model under uncertainty and incomplete insurance markets, maximization of expected utility, risk aversion, neutrality and love. Application of the theory in explaining and addressing the phenomenon of tax evasion and insurance premiums. Economics of information: we will deal with the value of information and basic concepts such as moral hazard and adverse selection in insurance markets. The principal - agent model. (1 ECTS = 25 hours of workload)
general equilibrium, perfect competition, Arrow-Debreu model, risk, uncertainty, asymmetric information, moral hazard, adverse selection, insurance markets
Educational Material Types
  • Notes
  • Slide presentations
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
  • Use of ICT in Laboratory Teaching
  • Use of ICT in Communication with Students
Educational material such as slides presented during the course, tests solutions, exercises, information will be posted exclusively to elearning platform https://elearning.auth.gr/course/view.php?id=6299. The student may download and print related files from any personal computer or from the library of the Department. The elearning website is updated on a weekly basis. All students that choose the course are automatically enrolled and van recieve all course announcements by email. For accessing the elearning platform you will need your academic email and password.
Course Organization
Interactive Teaching in Information Center180.6
Student Assessment
Written exam 100%.
Student Assessment methods
  • Written Exam with Extended Answer Questions (Summative)
  • Written Exam with Problem Solving (Summative)
Course Bibliography (Eudoxus)
W.Nicholson, C.Snyder Μικροοικονομική Θεωρία: Βασικές Αρχές και Προεκτάσεις, 3η Έκδοση, Εκδόσεις Κριτική, 2018, ISBN 978-960-586-239-8, Κωδικός Εύδοξος 77109705 Varian Hal R., Μικροικονομική: Μια Σύγχρονη Προσέγγιση, Εκδόσεις Κριτική, 3η Έκδοση 2015, ISBN 9789602189368 Κωδικός Εύδοξος 50659301
Additional bibliography for study
Gravelle H. και Rees R., Μικροοικονομική , Ενιαίος τόμος, Εκδόσεις Γ. Δαρδανός - Κ. Δαρδανός , 2010, ISBN 978-960-01-1344-0  Μ. Χαχολιάδη, Μικροοικονομική Ι,Εκδόσεις Κριτική, Τόμοι Α και Β, Εκδόσεις Κριτική, 1990  Ε. Δρανδάκη, Ν. Μπαλτά ,Γ. Μπήτρου, Μικροοικονομική Θεωρία, Τόμοι Α και Β, Εκδόσεις Σταμούλη 1994 Jehle, G. A., Reny, P.J., Advanced microeconomic theory, Addison-Wesley, 2001  Fudenberg, Drew, Tirole, Jean, Game theory, MIT Press, 1991  Mas-Colell, A. Whinston, M. D., Green, J., Microeconomic theory, Oxford University Press, 1995  Tirole, Jean, The theory of industrial organization, MIT Press, 1988
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