Introduction to microeconomic theory. Supply and demand. Equilibrium – Price formation.
Consumer behavior. Theory of absolute utility. Theory of cardinal utility. Consumer equilibrium. Demand in the construction industry.
Theory of production. Short-run, long-run period. Law of diminishing returns. Returns to scale. Supply in the construction industry.
Costs of the firm. Costs of the construction firm.
Financial accounting information and its usefulness. Basic accounting principles. Financial statements: Income Statement, Balance Sheet, Cash Flow Statement.
Market types: Perfect competition, monopoly, monopolistic competition, oligopoly. Types of market structure in the construction industry.
Performance evaluation of construction firms: Ratio analysis. Case study.
- Teacher: Ιωάννης Τσώλας
ECTS : 4
Language : el
Learning Outcomes : After the successful completion of the course the students will know the basic principles of microeconomics and in particular topics related to:
demand and supply,
consumer behavior,
the theory of production and the behavior of firms,
the operation of the various market types, as well as financial (accounting) information and its usefulness.