Economics

Code	11721
Year	2
Semester	S1
ECTS Credits	6
Workload	TP(60H)
Scientific area	Social and Economic Sciences
Entry requirements	Nothing to report
Mode of delivery	The teaching method is face-to-face, with lectures both theoretical and practical. Accordingly, students are invited to interact with the teacher and with colleagues in the resolution of the proposed exercises. The degree of commitment to these exercises in the intermediate works will be taken into consideration in the final evaluation.
Work placements	Not applicable
Learning outcomes	At the end of this course, the student should: • To know the fundamental aspects that distinguish macro and microeconomic theories. • To understand the basis of supply and demand and market balance formation. • To distinguish between different market structures (monopoly, perfect competition, monopolistic competition and oligopoly). • To understand how a country's economic activity is measured. • To have critical capacity on economic policy decisions. • To be able to make a coherent economic discourse.
Syllabus	1. Introduction to Economics 1.1 Objectives and Methods of Economics - The 10 Principles of Economics 1.2 Thinking as an Economist 1.3 Macroeconomics vs Microeconomics 1.4 Graphical Analysis 2. Microeconomics 2.1 Demand and supply and market equilibrium 2.2 Welfare of both consumers and producers 2.3 Elasticities and Applications 2.4 Price Control Policy 2.5 Market structures (pure monopoly, monopolistic competition, oligopoly) 3. Macroeconomics 3.1 Macroeconomics' Objectives and Instruments 3.2 Aggregate Supply and Demand 3.3 Measurement of Economic Activity 3.4 Consumption, Investment and Savings 3.5 Unemployment and Inflation
Main Bibliography	Samuelson, P. A., Nordhaus, W. D., Fontaínha, E. N., & Gomes, J. P. (2011). Economia. Lisboa, Portugal: McGraw-Hill; Mankiw, N. G. (2004). Principles of economics. Mason, USA: Thomson/South-Western; César das Neves, João. (1997). Introdução à Economia. Lisboa, Portugal: Editorial Verbo; Mateus, Abel. (2001). Economia Portuguesa. Lisboa, Portugal: Editorial Verbo; Andrade, João Sousa. (1998) Introdução à Economia. Coimbra, Portugal: Editorial Minerva; Krugman, P., & Wells, R. (2015). Economics. New York, USA: Macmillan Learning; Frank, R.H. (1997): Microeconomia e Comportamento, Lisboa, McGraw-Hill.
Language	Portuguese. Tutorial support is available in English.