Upon successful completion of the course, students to be able to:

• Understand basic economic concepts
• Describe the main economic functions at the micro level of both the firm and the consumer
• Identify and understand basic macroeconomic variables
• Recognise the effects of key macroeconomic developments on business variables
• Understand the role and process of technological innovation
• Identify and define the forms of entrepreneurship
• Understand and use basic tools for evaluating investments

The course is basically an introduction to the two general subfields of economics: macroeconomics and microeconomics. The course is complemented by basic principles of the economics of innovation and investment appraisal. The sub-modules are:

• The Economic Problem
• Consumer behaviour
• Production and firm costs
• Demand and Supply
• Elasticities, Endogenous and exogenous shocks
• Competition and Business Strategies
• Key Macroeconomic Ratios
• The Role of the State and Open Economies
• Elements of Innovation and Entrepreneurship
• Investment Evaluation Tools

Lectures (3 hours/week)

Lectures and examinations within the course are conducted in person. Student assessment is based on a written final examination which may include multiple choice questions, short answer questions, solving exercises, interpretation of results and/or a combination of the above.

• Use of PowerPoint during lectures
• Posting of educational material on the asynchronous e-learning platform in the course area
• Communication via e-mail/eclass