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Microeconomic Analysis of Markets 2017/2018

  • 6 ECTS
  • Taught in Portuguese
  • Both continuous and final Assessment

Objectives

In a perspective of continuity of microeconomics, this course aims to deepen the concepts and tools of microeconomics and apply them to the explanation of new realities. In particular and after concluding this course students will be able to: understand how entrepreneurs move in the real economic contexto and (ii) analyze the mode of operation of a unit of production, its cost structure and functioning of the main structures in which they are contextualized.

Recommended Prerequisites

Knowledge of microeconomics and basic mathematics.

Teaching Metodology

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 actual and real case studies. Additionally, exercises will be solved applying the knowledge transmitted.

Body of Work

I. Theory of the firm. Long run process
1.1. Production Function.
1.2. Marginal production
1.3. Marginal rate of technical substitution;
1.4. Cost equation.
1.5 Optimal production decision.
1.6. Changes in optimal production decision.
II. Cost Analysis
2.1 Short run process.
2.2 Long term process.
2.3 Costs functions
III. Market Structure and Policy
3.1. Perfect Competition.
3.2. Monopoly.
3.3. Monopolistic Competition.

Recommended Bibliography

- 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.

Complementary Bibliography

- 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

Weekly Planning

Week 1-5 Chapter I - Theory of the firm- long term process
Week 6-10 Chapter II - Cost Analysis in the short and long run
Week 11-15 Chapter III - Market structures

Demonstration of the syllabus coherence with the curricular unit's objectives

Program content 1 aims to achieve the first defined objective. Program content 1, 2 and 3 are intended to achieve the second defined objective.

Demonstration of the teaching methodologies coherence with the curricular unit's objectives

The expository methodology contributes to achieving the two defined objectives. The methodology of the interrogative type and the resolution of exercises reinforce the two objectives defined .

relevant generic skillimproved?assessed?
Achieving practical application of theoretical knowledgeYesYes
Adapting to new situationsYesYes
Analytical and synthetic skillsYesYes
Event organization, planning and managementYesYes
Problem Analysis and AssessmentYesYes
Problem-solvingYesYes
Written and verbal communications skillsYesYes
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