Economics

Code	17501
Year	2
Semester	S1
ECTS Credits	6
Workload	TP(45H)
Scientific area	Social and Economic Sciences
Entry requirements	None.
Learning outcomes	Learn the main tools needed to understand an increasingly globalised world subject to economic dictates Explore theories and models, both micro and macro, their strengths and weaknesses, highlighting the plurality of reasons for human behaviour involved in economic systems Develop critical thinking skills to assess which economic theory, among several, makes the most sense in light of specific circumstances, political objectives, and moral values Develop the ability to participate in debates on current economic issues and events Develop students' ability to organise their work activities and communicate effectively
Syllabus	Part I – Introduction to Economics What is Economics? A pluralistic view of the economic problem Scarcity, choice, and opportunity cost Part II – Microeconomics Markets and how they work: institutional foundations and the supply and demand model Applications of the model: wages, advertising, price control policy, fiscal policy, and elasticities Consumer and producer behaviour: the complexities of market analysis Market structures: monopoly, monopolistic competition, and oligopoly Market failures and government failures: the case of public goods Part III – Macroeconomics Macroeconomic objectives and instruments Measuring economic activity: GDP The aggregate supply and demand model Consumption, investment, and saving Unemployment and inflation
Main Bibliography	SCHNEIDER, Geoffrey (2022), Economic Principles and Problems: A Pluralist Introduction. Routledge MANKIW, N. Gregory (2018), Principles of Economics, Cengage Learning CHANG, Han-Joon (2018), Economics: The User's Guide. Pelican Books SAMUELSON, Paul; NORDHAUS, William (2010), Economics. Mcgraw-Hill Education
Teaching Methodologies and Assessment Criteria	The teaching methodology applied in the course unit is theoretical-practical. Classes are organised combining the two teaching techniques. First, the main concepts of economic analysis for each topic are explained, discussing real analogous cases; then practical exercises are carried out with the aim of applying and measuring the concepts. Thus, students will have the opportunity to develop their economic reasoning skills to solve real problems in a collective environment, but also through independent work. Continuous assessment consists of two written tests, each weighing 45% of the final grade, with 10% of the final grade reserved for participation. To be eligible for the final exam, students must obtain a grade of 6 or higher in the continuous assessment.
Language	Portuguese. Tutorial support is available in English.