Introduction to Microeconomics

Objectives

This discipline starts off with the economics object study, exploring the question of the economic problem and the economy as a social science. After the presentation of the economic agents and instruments, it proceeds to the study of the theories of demand, supply and pricing. In relation to these theories, our study also focuses on their respective elasticities and their applications. Studied in addition are the theory of consumer behaviour and the theory of production and costs. Finally, taking into account the specific characteristics of the various organizations of the market and pricing system, we approach het perfect competition, monopoly, oligopoly and monopolistic competition.

The student should acquire knowledge regarding the understanding of the issues mentioned above, with intuitive graphical approach. It should also be familiar with all the models presented and, in some cases, with the respective mathematical formalization.

Program

CHAPTER I - THE ECONOMIC OBJECT

1.1. The economic problem

1.2. Economics as social science

1.3. The instruments of the economy

1.4. The economic

CHAPTER II - THE BASICS OF SUPPLY AND DEMAND

2.1. The theory of demand

2.2. The theory of supply

2.3. The pricing

2.4. Elasticities

CHAPTER III - APPLICATIONS IN MICROECONOMIC POLICY

3.1. The problem of agriculture

3.2. The problem of pricing

CHAPTER IV - THE THEORY OF CONSUMER´s BEHAVIOR

4.1. Utility and preferences

4.2. The balance of the consumer

4.3. Consumer´s theory in practice

4.4. Behavior under conditions of uncertainty

CHAPTER V - PRODUCTION AND COSTS

5.1. Theory of production

5.2. Cost theory

CHAPTER VI - MARKETS AND PRICES

6.1. Perfect competition

6.2. Monopoly

6.3. Oligopoly

6.4. Monopolistic competition

Teaching Methodologies

This course develops a weekly split in a classroom lecture and practice, and the latter provides the follow-up / sedimentation of the matters discussed above. Both the lecture and the practical lessons are made available to students in the platform for this purpose (moodle.uac.pt). To mention also the fact that it is available to all students, at their discretion, a 1 hour weekly schedule to clarify any questions or concerns related to the discipline.

Bibliography

Samuelsson, Paul A. E William D. Nordhaus, 2005. Macroeconomia. 18ª Edição, Lisboa: Mcgraw-Hill.

Dornbusch, Rudiger, et al., 2009 Macroeconomia. 10ª Edição, S. Paulo: Mcgraw-Hill.

Lipsey, Richard G. E k. Alec Chrystal, 1995. An introduction to positive economics. 8º Edição, Oxford: Oxford University Press.