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Code 13995
Year 1
Semester S2
ECTS Credits 6
Workload TP(60H)
Scientific area Economics
Entry requirements Does not apply
Mode of delivery Classroom Teaching.
Work placements Has not
Learning outcomes This curricular unit (CU) has as main objective to provide students with bases of microeconomic theory as well as to empower them with critical power of argumentation on microeconomic issues.
At the end of the CU, students should be able to:
- Understand how individual consumers make their consumption decisions.
- Analyze how firms make their decisions about production.
- Analyze production costs.
- Solve concrete problems of production and consumption
- Understand how economic agents interact in the market, depending on the structure in which they operate.
- Understand the functioning of supply and demand and the formation of market equilibrium.
- Understand and distinguish different market structures.
- Analyze the monopoly's social losses compared to perfect competition.
- Be able to realize a coherent microeconomic discourse, and to be able to apply the theory to concrete cases of reality.
Syllabus 1. The consumer theory:
1.1 Budget constraint
1.2 Consumer preferences
1.3 Utility
1.4 Consumer choice
1.5 Effects of price changes.
1.6 Effect of income variation

2. The theory of production and costs:
  2.1 Technology and theory of production
  2.2 Production Costs

3. Market structures:
  3.1 Market demand and supply
  3.2 Consumer and producer surplus
  3.3 Elasticities
  3.4 Perfect competition
  3.5 Imperfect competition: monopoly, oligopoly and monopolistic competition.
Main Bibliography Frank, R.H. (1997): Microeconomia e Comportamento, Lisboa, McGraw-Hill;
Mankiw, N. (2001) Princípios de Economia, Campus, trad da 2ª ed Americana.
Pindick, R., Rubinfeld, D. (2002), Microeconomia, Pearson Education, Quinta Edição.
Samuelson, P. e Northaus, W.D. (2005): Economia, Lisboa, McGraw-Hill;

Teaching Methodologies and Assessment Criteria Classes will be theoretical-practical. At the beginning of each topic of the syllabus, a theoretical approach to the concepts is carried out, as well as is given a real example of the problem is followed by mathematical formalization. Subsequently, practical exercises are realized in order to apply and consolidate the acquired knowledge. During classes, the application of concepts to reality is also encouraged, resorting essentially to current economic problems.

The continuous assessment consists of two tests, where students' theoretical-practical knowledge is assessed, each with a weighting of 50%. Approval by continuous assessment is subject to a minimum of 50% attendance.
Criteria for access to the final exam: minimum of 6 values in the continuous assessment and a minimum of 50% of attendance.
Language Portuguese. Tutorial support is available in English.
Last updated on: 2024-04-16

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