- 6 ECTS
- Taught in Portuguese
- Both continuous and final Assessment
- relevant skillset
At the end of the semester, the student should be able to: (i)explain the process of decision making in the context of scarce resources; (ii) explain and analyze some of basic economic concepts and principles
and (ii) analyze and apply the main microeconomic instruments to a variety of economic problems, namely individual economic decisions.
Basic knowledge of mathematics
The methodology adopted is the type expositive-active, using simultaneously the means, expository and interrogative. During classes and in order to stimulate the thinking of students, teachers use teaching techniques such as oral communication, demonstration, raising questions and case studies. Additionally, exercises will be solved applying the knowledge transmitted
Body of Work
I. Introduction - Economics and Economic Reasoning.
1.1 Economic Global Vision.
1.2 Economic subject.
1.3 The scarcity principle.
1.5 Basic problems of economic organization.
II. Individual Markets. Demand, Supply, Prices and Elasticity’s
2.1 Basic principles of the Markets.
2.3 Equilibrium and stability.
III. Consumer Theory.
3.1. Utility theory.
3.2. Rationality axioms.
3.3. Marginal utility and law of decreasing marginal utility
3.4. Value paradox
3.5. Prices and marginal benefit theory
3.6. Indifference curves.
IV. Production Theory
4.1. Production - technical aspects
4.2. Distinction between short, medium and long run.
4.3. Production in the short run
- Colander, D. (2012) - Microeconomics -9ª Ed., McGraw-Hill.
- Frank, R. (2015)- Microeconomics and Behavior, 9th Ed. McGraw Hill Education.
- Pinho, M. (2016) - Microeconomia: Teoria e Prática Simplificada - 3ª ed. Editora Sílabo. Lisboa
- Samuelson, P. e Nordhaus,W.D. (2012) - Economia, 19ªed. - McGraw-Hill. Lisboa
Sistema de B-Learning da UPT: Moodle(UPT), acessível em: http://elearn.uportu.pt/login/index.php
- Frank, R. H. (2013) - Microeconomia e Comportamento 8ª Ed. McGraw Hill.
- Mankiw, G. (2017) - Principles of Economics (8th ed.). Cengage Learning;
- Nicholson,W.; Synder, C. (2016) - Microeconomic Theory-Basic Principles and Extensions, 12th ed. Cengage Learning
- Varian, H. (2014) – Intermediate Microeconomics: a modern approach, 9th ed. W.W. Norton & Company
Week 1-2 Chapter I
Week 3-7 - Chapter II
Week 8-12 - 1st evaluation and Chapter III
Week 13-15 - Chapter IV
Demonstration of the syllabus coherence with the curricular unit's objectives
Program content 1 and 2 contribute to achieving the first two objectives and program content 3 and 4 contribute to the 3rd objective
Demonstration of the teaching methodologies coherence with the curricular unit's objectives
The expositive methodology type contributes to reach the three defined objectives. The interrogative
methodology type and the resolution of exercises reinforce the three objectives defined
|relevant generic skill||improved?||assessed?|
|Achieving practical application of theoretical knowledge||Yes||Yes|
|Adapting to new situations||Yes||Yes|
|Analytical and synthetic skills||Yes||Yes|
|Ethical and responsible behaviour||Yes||Yes|
|Event organization, planning and management||Yes||Yes|
|Problem Analysis and Assessment||Yes||Yes|
|Written and verbal communications skills||Yes||Yes|