Cursos / 1º Ciclo / Faculty of Economy and Business Management :: Marketing

INTRODUÇÃO À ECONOMIA - 2022/2023

1º curricular year
Semestralidade: 2nd semester
ECTS: 6

Teachers

Leading Teacher: Prof. Doutor Manuel Maçães
Assistant Professor: Prof. Doutor Manuel Maçães

Class type and School hours

Orientação Tutorial : 1 Horas
Teórico-prática : 2 Horas

Teaching Language

Portuguese

Main Aims/Objectives

This unit aims to give students a general essay on the basic concepts of economics.

Specific Aims/Objectives

Through this course is intended to provide a general knowledge of the main concepts associated with microeconomics and macroeconomics.

Skills to be acquired

It is intended that students understand: the concepts of scarcity, efficiency and equity; the behavior of the main economic actors; the functioning of markets; and the main macroeconomic objectives.

Teaching Procedures

In theoretical classes the exposed material is always accompanied by an illustration showing real cases. The tutorial classes are designed to clarify questions and do some exercises about the issues taught in the theoretical classes.

Programme

I. Microeconomics
1. Basic Economic Concepts
1.1. Choice and Scarcity
1.2. Total and Marginal Utility
1.3. Opportunity cost
1.4. Reserve Price
1.5. Marginal Benefit and Marginal Cost
1.6. The Ten Principles of Economics

2. Production Possibility Frontier
3. Demand and Supply
3.1. Market Concept
3.2. Demand
3.2.1. Demand drivers
3.2.2. The individual demand curve
3.2.3. The market demand curve
3.3. Supply
3.3.1. Determinants of supply
3.3.2. The individual supply curve
3.3.3. The market supply curve
3.4. Equilibrium
3.5 Supply, Demand and Government
3.5.1. Price control
3.5.1.1. Maximum prices
3.5.1.2. Minimum prices
3.6. Supply, Demand and Efficiency
3.6.1. Consumer Surplus
3.6.2. Producer surplus
3.7. Elasticity
3.7.1. Price elasticity of demand and classification of goods
3.7.2. Supply Price Elasticity and classification of goods
3.7.3. Income elasticity and classification of goods
3.7.4. Cross Price Elasticity and classification of goods
4. Consumer Theory
4.1. Consumer Preferences
4.1.1. Preferences properties
4.1.2. Indifference curves
4.2. Budget Restriction
4.3. Optimal Consumer Decision
4.3.1. Equilibrium
II. Macroeconomics
1. Introduction to Macroeconomics
1.1. Macroeconomics Overview
1.2. Main macroeconomic indicators
1.3. Macroeconomic Policy Instruments
1.4. Aggregate Supply and Aggregate Demand
2. State Intervention and National Accounting Policies
2.1. The Role of the State in the Economy
2.2. National Accounting and Product Valuation
3. Macroeconomic Equilibrium Models
3.1. Closed Economy Model
3.2. Open Economy Model
4. Inflation and Unemployment
5. Economic Growth and Development
6. International Economy
6.1. Theory of Absolute Advantages
6.2. Theory of Comparative Advantage

Evaluation Type

Students will be subject to evaluation by two written tests (weighted 3), individual and workgroup (4/5 students)(weighted 2,5), which consists of preparing a Business Plan for a company.
The final assessment will be weighted as follow:
. Continuous assessment - 60%
. Frequency - 40%

Teaching Resources

Materials provided in classes.

Sustainability Objectives

Keywords

Microeconomics
Macroeconomics
Demand
Supply
Welfare

Main Bibliography

Complementary Bibliography