Course: Political Economy


1.   Introduction (methodological issues, introduction to the history of economic thought).

2.   The economic problem (production possibility curve, circular flow, functions of the economic system, role of the state).

3.   Demand and supply of goods (price formation, production and pricing under perfectly competitive conditions, production and pricing under pure monopoly, production and pricing under monopolistic competition).

4.   Introduction to macroeconomic analysis. Main macroeconomic aggregates.

5.   Theory of international trade (comparative advantage and opportunity cost. Tariff protection and customs unions. Salient features of European integration. International exchanges and exchange rates, balance of payments).


Teaching aids:  "Introduction to Political Economy" by N. Maravegias

Examination: Written