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Microeconomics II

Code 14784
Year 2
Semester S2
ECTS Credits 6
Workload TP(60H)
Scientific area Economics
Entry requirements No.
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.
Teaching Methodologies and Assessment Criteria Classes are theoretical and practical. At the beginning of each topic of the program, the theoretical exposition of the contents is realized, accompanied by mathematical formalization and graphic representation so that students can obtain theoretical knowledge of the syllabus. Current issues related to content are also discussed so that students can identify the applicability of microeconomic theory and foster its capacity for analysis. Subsequently, several practical exercises are performed so that students can apply and solidify their knowledge about the syllabus.
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: 2022-03-31

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