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Economics 2017/2018

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

Objectives

By the end of this course, students should be able to:
1. Characterize political economy as a social science, defining its object and methodology.
2. Define the key assumptions of political economy.
3. Understand the scope of Macroeconomics, the current system of measuring economic activity, and the main
variables of reference for the macroeconomist.
4. Understand the basics of the functioning of markets in perfect competition as well as the consequences for
the markets of state intervention.
5. Characterize the main lines of economic thought.

Recommended Prerequisites

N/A

Teaching Metodology

Lectures will mainly follow the expository method. At the same time, students' participation will be encouraged
through discussions, opinion expression and analysis of relevant documents, including quantitative
macroeconomic data and reference works to assist in the presentation of the syllabus' contents.
In practical classes, contents will focus on the introduction of theoretical knowledge and its application through
exercises.
Additionally, students are expected to conduct their own research activities and to study autonomously.

Body of Work

I. A economia política
II. Pressupostos fundamentais
III. Macroeconomia
IV. Microeconomia
V. A evolução do pensamento económico

Recommended Bibliography

Denis, Henri. (1990) História do Pensamento Económico. Lisboa: Livros Horizonte.
Mankiw, N. Gregory. (2014) Introdução À Economia. São Paulo: Cengage Learning. Tradução da 6ª Edição Norte-americana.
Samuelson, Paul e Nordhaus, William. (2009) Economia. Lisboa: McGraw-Hill, 19ª edição.
Soares Martínez, Pedro. (2010) Economia Política. Coimbra: Almedina, 11ª edição.

Complementary Bibliography

Brue, Stanley. (2005) História do Pensamento Económico. São Paulo: Thomsom.
Lopes, José. (2006) A economia portuguesa desde 1960. Lisboa: Gradiva.
Nunes, António. (2013) Noção e Objecto da Economia Política. Coimbra: Almedina, 3ª edição.

Weekly Planning

Theoretical classes
Lecture 1:
Presentation: objectives, program, evaluation and bibliography

Lecture 2:
I. Political Economy
1.1. Concepts
1.2. Object

Lecture 3:
1.3. Methodology

Lecture 4:
II. Fundamental concepts
2.1. Economic necessity and economic good
Classroom 5:
2.2. Economic Utility.
Lecture 6:
2.3. Economic cost.
Lecture 7:
2.4. Economic value.
Lecture 8:
2.3. Fundamental economic problems

Lecture 9:
2.4. Demography and economic process
2.5. Economic development

Lecture 10:
V. The evolution of economic thought
5.1. Classical and Middle Ages

Lecture 11:
5.2. Mercantilism

Lecture 12:
5.3. Physiocracy

Lecture 13:
5.4. Liberalism

Lecture 14:
5.5. Socialism

Lecture 15:
5.6. Marginalists
5.7. Keynesianism.

Practical classes:
III - Macroeconomics
Lesson 1: The Macroeconomics
Lesson 2: Supply and Aggregate Demand
Lesson 3: Macroeconomics and Measurement of Economic Activity
Lesson 4: Consumption and Investment
Lesson 5: Economic Cycle and Aggregate Demand
Lesson 6: Currency and Financial System
Lesson 7: Monetary Policy and Economic
IV - Microeconomics
Aula 8:
4.1. Law of Demand and Demand Curve
Aula 9:
4.2 Law of Supply and Supply Curve
Aula 10:
4.3 Market Equilibrium and Social Welfare
Aula 11:
4.3 Market Equilibrium and Social Welfare
Aula 12:
4.3 Market Equilibrium and Social Welfare
Aula 13:
4.4. Price Elasticity of Demand and Price Elasticity of Supply
Aula 14:
4.5 State Intervention - Taxes, Subsidies and Price Fixation
Aula 15:
4.5 State Intervention - Taxes, Subsidies and Price Fixation

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

Contents were prepared to meet the objectives identified for the course. In this sense, Chapter I of the contents
will promote the achievement of objective 1. Chapter 2 will address objective 2. Theme 3 will respond to
objective 3 and Chapters 4 and 5 are intended to achieve objectives 4 and 5, respectively.

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

In order to achieve objectives 1-5, classes will mostly consist of the expository method, in which students will
have room for discussion. They will also be able to read previously provided texts relevant to the issues under
analysis. When contents so justify, especially those related to objectives 3 and 4, a more practical component
of problem solving will be introduced. For all the objectives, students are expected to conduct independent
study and, in order to consolidate their learning, in-class debates will also take place.

relevant generic skillimproved?assessed?
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