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Microeconomics I

Code 12079
Year 1
Semester S1
ECTS Credits 6
Workload TP(60H)
Scientific area Economics
Entry requirements Not applicable.
Mode of delivery Attendance
Work placements Not applicable
Learning outcomes Goals:
1. To recognize/enunciate/solve Microeconomics problems.
2. To solve daily-life problems with the various tools learned.
3. To analyze the basic functioning of price and market formation.

Competences:
1. Be able to enunciate and solve Microeconomics problems.
2. Be able to define microeconomic concepts.
3. Be able to solve daily-life problems through the concepts learned in the curricular unit.
4. Be able to understand how prices form and how markets work.
Syllabus 1. Introductory Concepts
1.1. The Principles of Economics
1.2. Think like an Economist

2. Markets, demand, and supply
2.1. Demand
2.2. Supply
2.3. Market equilibrium
2.4. Changes to market equilibrium

3. Consumer Theory
3.1. Budgetary restriction
3.2. Utility and preferences
3.3. Demand and demand elasticity
3.4. Slutsky equation: Price variations
3.5. Consumer surplus and producer surplus
3.6. Market demand

4. Producer Theory
4.1. Technology and Production Theory
4.2. Maximizing profit and cost minimization
4.3. Cost curves
4.4. Firm supply and industry supply
Main Bibliography Basic books:
• Mankiw, N.; & M. Taylor (2011). Economics, South-Western, Second edition, CENGAGE Learning, Hampshire, United Kingdom.
• Varian, H. (2010). Microeconomia Intermédia: Uma Abordagem Moderna, Verlag Dashöfer, Learning and Higher Education, 8.º Edição, Lisboa.

Handouts:
• Leitão, J. (2019). Diapositivos de apoio à unidade curricular de Microeconomia I, Licenciatura em Economia, UBI, Covilhã, Portugal.
• Leitão, J. (2019). Fundamentos de Decisão Microeconómica e Empresarial: Conceitos, exercícios e casos, Caderno de Exercícios 1 e Caderno de Exercícios 2, UBI, Covilhã, Portugal.

Teaching Methodologies and Assessment Criteria The classes have a theoretical-practical nature. Initially, in each session, the theoretical concepts about the correspondent programmatic contents are presented and, later, the respective practical exercises are carried out. Students must carry out two written tests, with a 50% weighting, in order to obtain the final classification of the teaching and learning period. The minimum classification of the teaching and learning period for access to the exam is 5 values.
Language Portuguese. Tutorial support is available in English.
Last updated on: 2021-10-10

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