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Microeconomics II

Code 12084
Year 1
Semester S2
ECTS Credits 6
Workload TP(60H)
Scientific area Economics
Entry requirements No.
Mode of delivery Attendance
Work placements not applicable
Learning outcomes The objectives of the Curricular Unit are:
- Provide students with a solid foundation of microeconomic theory;
- Analyze the functioning of different markets;
- Know how to explain and identify the behavior of companies according to the market structure in which they operate;
- Understand how markets are organized, their purpose and operating conditions;
- Assess the effects of government intervention on markets;
- Understand how to balance various economic agents.

At the end of this course the student should be able to:
- Understand the functioning of markets in different structures;
- Compare and evaluate alternative theories, methods and models that optimize business profit and consumer utility;
- Apply techniques for measuring and evaluating the economic performance of markets and the effects of government intervention;
- Develop the capacity for analysis of various microeconomic models.
Syllabus 1 Perfect Competition
1.1 Equilibrium of the firm and of the industry in the short-run
1.2 Equilibrium of the firm and of the industry in the long-run
1.3 Perfect competition, welfare and economic efficiency

2 Monopoly
2.1 Profit maximization and market power
2.2 Social costs of monopoly
2.3 Price discrimination

3 Oligopoly
3.1 Non-cooperative models: Cournot; Stackelberg; Bertrand; kinked demand; dominant firm
3.2 Cooperative models: collusion; instability in cooperation

4 Analysis of competitive markets
4.1. Evaluation of gains and losses of government policies: surplus and efficiency
4.2 Price and quantity control

5 Labour market
5.1 Labour demand, labour supply and equilibrium
5.2 Labour demand and profit maximization
5.3 Labour supply and choice between labour and leisure
5.4 Investments in human capital: education/training

6 General equilibrium
6.1 Edgeworth box
6.2 Algebra of optimal consumption affections
6.3 Relative prices
6.4. Special cases
Main Bibliography Varian, H. (2014), Intermediate Microeconomics: A Modern Approach, 9th ed. New York: W, W. Norton & Company, New York, United States.
Pindyck, R. e Rubinfeld, D. (2018), Microeconomics, 9th edition, Pearson Education.
Besanko. D. e Braeutigam R. (2011), Microeconomics, 5th Edition, Willey.
Mateus, A. e Mateus, M. (2008), Microeconomia, Teoria e Aplicações, Volumes I e II, 2ªEdição, Editorial Verbo, Lisboa – São Paulo.
Mateus, A. e Mateus, M. (2002), Microeconomia – Exercícios e Estudos de Caso, Volumes I e II, 1ª Edição, Editorial Verbo, Lisboa – São Paulo.
Marques, A. C., Macedo, D., Pereira, D., Leal, P., Neves, S. (2018). ECONOMIA INDUSTRIAL: Teoria e Prática. EDIÇÕES ALMEDINA, S.A., (386 pp) Coimbra. ISBN: 978-972-40-7483-2.
Language Portuguese. Tutorial support is available in English.
Last updated on: 2021-06-15

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