Microeconomics I

Code	14773
Year	2
Semester	S1
ECTS Credits	6
Workload	TP(60H)
Scientific area	Economics
Entry requirements	Not applicable.
Learning outcomes	Goals: 1. Recognise, state and solve microeconomics problems; 2. Analyse the basic workings of price formation and markets; and 3. Solve everyday problems using the various tools learnt. Competences: a) Can define microeconomic concepts; b) Can understand how prices are formed and how markets work; c) Can state and solve microeconomic problems; and d) Can solve everyday problems using the concepts learnt in the course. Sustainable Development Goals (SDGs): This curricular unit also aims to contribute to the training of students capable of meeting the targets of SDG 8 - Promote inclusive and sustainable economic growth, full and productive employment and decent work for all.
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: • Krugmam, P.; & Wells. R. (2024). Microeconomics. 7th Edition. Macmillan Learning. ISBN: 9781319481186. • Leitão, J.; Ferreira, E.; & Ferreira, J. (2022). Fundamentos de Economia da Empresa: Conceitos, decisões e aplicações, Editora Rei dos Livros, 1.ª Edição, Lisboa. ISBN: 9789895650699. • Mankiw, N.; & M. Taylor (2020). Economics, Editora: Cengage Learning. ISBN: 9781473768543. • McKenzie, R.; Schansberg, I.; & Lee, D. (2024). Microeconomics for Managers: Principles and Applications. Cambridge University Press. ISBN: 9781009354783. Handouts: • Leitão, J. (2024). Diapositivos de apoio à unidade curricular de Microeconomia I, Licenciatura em Economia e Licenciatura em Matemática e Aplicações, UBI, Covilhã, Portugal. • Leitão, J. (2024). Cadernos de exercícios de apoio à unidade curricular de Microeconomia I, Licenciatura em Economia e Licenciatura em Matemática e Aplicações, UBI, Covilhã, Portugal.
Language	Portuguese. Tutorial support is available in English.