Research Areas & Teaching


Here you can find information and links to my research and teaching activities.


Short Bio

Stavros Mavroudeas studied at the Economics Department of the University of Athens (BA Economics 1985), SOAS-University of London (Msc Economics 1986), Birkbeck College – University of London (PhD Economics 1990). He is currently working as Professor in Political Economy at the Economics Department of the University of Macedonia. He has published in many academic journal including Science & Society, Review of Radical Political Economics, Review of Political Economy, Economie Appliquee, International Critical Thought etc. His publications include ‘The Limits of Regulation – A Critical Analysis of Capitalist Development’, ‘Greek Capitalism in Crisis – Marxist Analyses’, ‘Development and Crisis – The turbulent course of Greek Capitalism’, ‘Convergence or divergence: the case of Greece’, ‘Forms of existence of abstract labour and value-form’, ‘Regulation Theory: The Road from Creative Marxism to Post-Modern Disintegration’, ‘Periodising Capitalism: Problems and Method – The case of the Regulation Approach’, ‘Overworked Greeks? Working time trends in Greece’, Work more or work harder? The length and the intensity of work in Marx’s ‘Capital’, ‘Duration, Intensity and Productivity of Labour and the Distinction between Absolute and Relative Surplus-Value’, ‘A History of Contemporary Political Economy and Post-Modernism’, ‘Grossmann, Kalecki and the theory of crisis: A comment on Trigg’, ‘Henryk Grossmann’s Falling Rate of Profit theory of crisis: a presentation and a reply to old and new critics’ etc.


Research interests

Stavros Mavroudeas’ main research interests include Political Economy, History of Economic Thought, Labour Economics, Economic Growth and Development Economics, Greek Economy


Contact Details

Tel: +30-2310-891779

Fax: +30-2310-891777


Location: University of Macedonia, Dept. of Economics, 156 Egnatia, 54006 Thessaloniki, 4th floor, Room number 401



§     Introduction to Political Economy (compulsory undergraduate course)


Course content

This is an introductory course for 1st semester undergraduates. The aim of the course is to provide students with an adequate background in Political Economy that is in a social understanding of the economy. It blends Principles of Political Economy with elements of economic history, economic methodology and history of economic thought.


Course Outline

Part I: The Creation of an autonomous science of economic relations


Chapter 1: Introduction

1.1 What is the purpose of this course

1.2 When and how was first an autonomous science of economic relations
1.2.1 The relationship between society and the economy: economic, social and political relations

1.2.2 The relationship of theory and science

1.2.3 Why the need for an autonomous science of economic relations emerged so late


Chapter 2: Classical Political Economy, Marxist Political Economy and Marxist Economics

2.1 Political Economy: The first version of an autonomous science of economic relations

2.2 From the Classical Political Economy to Marxist Political Economy and Economics

2.3 General aspects of the scientific method of analysis


Part II: Classical Political Economy


Chapter 3: The First Steps of Capitalism and the forerunners of Political Economy

3.1 The history of the genesis of the capitalist system

3.2 Mercantilism and early forms of capitalism

3.3 The Physiocrats and the emphasis on production

3.4 One step before the Political Economy: W.Petty and the Theory of Value


Chapter 4: The Development of Capitalism and the Formation of Classical Political Economy

4.1 Social developments and practical problems expressed as theoretical questions that require a new scientific edifice for their response

4.2 The theoretical field for the construction of Political Economy

4.3 A. Smith and the inauguration of Political Economy

4.4 D. Ricardo and the completion of Political Economy



Part III: Marxist Political Economy and the Critique of Political Economy


Chapter 5: Marx and the Critique of Political Economy

5.1 The end of Political Economy and the critique of Political Economy

5.2 The problem of the methodology of Political Economy and its importance


Chapter 6: The value theory of abstract labour and the analysis of the value form

6.1 Commodity, value and labour

6.2 Abstract and the Embodied labour

6.3 The Form of Value


Chapter 7: The Theory of Surplus-Value

7.1 Fixed and Variable Capital, Value of the labour-power and surplus-value

7.2 Working Time, Value of labour power and Surplus-Value

7.3 The rate of surplus-value

7.4 Methods of increasing surplus-value: Absolute and Relative surplus-value


Chapter 8: The rate of profit and the transformation of values into production prices

8.1 Rate of Profit and Organic Composition of Capital

8.2 The Marxist law of the declining rate of profit and the contemporary controversies

8.3 Technical, Value and Organic Composition of Capital

8.4 The Transformation of Values into Prices of Production


Chapter 9: The Law of Value

9.1 Operation of the Law of Value

9.2 An exemplary presentation of the Law of Value


Chapter 10: Accumulation and Reproduction

10.1 The total circuit of capital

10.2 The vicious cycle of accumulation and crisis

10.2 The Marxist reproduction schemes

10.3 The case of simple reproduction


§    Economic Problems of Contemporary Capitalism (elective undergraduate course)


Course content

This is an elective course for undergraduates. It covers selected issues in Political Economy and requires a good knowledge of the principles of Political Economy offered in the ‘Introduction to Political Economy’. The aim of the course is to offer a deeper and broader knowledge of Political Economy. The basic part of it is a taught course supplemented with course essays by the students.







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