Topics of Microeconomic Theory: Market Operation and Food Business Economics

Topics in Microeconomic Theory: Food Markets and Agribusinesses

Type: Postgraduate course / Compulsory

Direction: Agricultural Economics and Food Business

Moderator: Κ. Galanopoulos

Semester: 1st

ECTS: 7.5

Instructors: Κ. Galanopoulos / invited speakers


Tel. office: 25520 41114


Cooperation with students: upon request (via email))

Course description:

Consumer Theory and Consumer Choices. Production Theory (Technology, Production Functions, Cost Curves, Cost Minimization and Production maximization). Markets and Businesses (Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition). Forms of business. Analysis and Corporate Finance. Business decisions with risk and uncertainty. Operation and organization of the marketing chain.

Web Course venue:

Indicative teaching material:

Quantitative Models for Performance Evaluation and Benchmarking. J. Zhu. ISBN 1-4020-7082-9

An Introduction to Efficiency and Productivity Analysis. 1998. Coelli, T., Prasada Rao, D.S., Battese, G.E. Kluwer Academic Publishers, Massachusetts

Microeconomic Theory Principles. Volume I – Microeconomics. G.N. Mankiw, M.P.Taylor. 978-960-01-1328-0

Micoreconomics. R.A. Arnold. 978-960-489-144-3

Additional bibliographic sources are available to students who participate in this course through the website of the course (e-class).

Learning outcomes

After completion of the course students should be able to:

  • Understand the operation of food markets and consumer behavior
    • Understand the operation and organization of business with a focus on agribusiness and food businesses
    • Successfully use microeconomic tools to analyze food business operational issues (e.g. break-even point analysis, cost minimisation, etc.)
    • Focus on complex market analysis research and economic food business
    • Use specialized software and modern technologies to solve business problems.

Evaluation methods:

·       Written exam at end of semester

·       Submit written work during the semester and an oral presentation.


Final score: It arises from the sum of the following (maximum score: 100 points):
1. Course examination (end of semester): 70 points
2.  Assignments and presentations: 30 points


Lecture program of the course ” Topics in Microeconomic Theory: Food Markets and Agribusinesses”

Week Title Speaker
1st section Production Theory
1st Introduction to the production theory. Production Functions Κ. Galanopoulos
2nd Cost Curves. Mininmisation and Maximisation Problems Κ. Galanopoulos
3rd Additional topics in production theory. Optimization of Productive Units. Κ. Galanopoulos
4th Productivity and efficiency measurement methods (parametric, non-parametric). Κ. Galanopoulos
5th Applications using econometric and mathematical software Κ. Galanopoulos
6th Applications using econometric and mathematical software Κ. Galanopoulos
7th Students’ Presentations Κ. Galanopoulos
2nd Session Types of Markets
8th Perfect competition Κ. Galanopoulos
9th Monopoly / Oligopoly Κ. Galanopoulos
10th Game Theory and Competition



Κ. Galanopoulos
11th Students’ presentations: literature review work Κ. Galanopoulos
3rd Section: Business Operation
12th Business decisions under conditions of risk and uncertainty Invited Speaker
13th Investment Rating


Invited Speaker
14th Operation and organization of the marketing chain


Invited Speaker
15th Written Examinations