Introduction to Macroeconomics

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This course aims to provide the basic principles of macroeconomics, with an emphasis on open-market economies. It is intended that students become acquainted with basic concepts and master the key aspects of its practical use. With an integrated view of macroeconomics, will be able to discuss the economic balance of three markets in terms of action - of goods, financial and labor - using models developed to explore a set of accounts and economic aggregates.

The students 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. Analyses characterize by a degree of depth through an introductory level.


I – Macroeconomics

Markets and Government


II - Aggregate Economic

National accounts

Price index and inflation

III - Goods market

GDP Composition

Multiplier model

Equilibrium product

IV – Currency: Monetary Authority and Commercial Banking

Currency and interest rate

Banking and money supply

Supply/Demand: money multiplier

Monetary policy on output and prices

V - Goods and Financial Markets: IS-LM

Goods market: IS

Financial market: LM

VI - Unemployment and Aggregate Supply

Labor market´s equilibrium

Aggregate supply: short and long-term

VII - Aggregating markets: AS-AD

Balance in the short and medium term

VIII - Inflation and Unemployment

Expected inflation and unemployment

Philips Curve

IX - Economic Growth

Process/sources of economic growth

Product, capital and technological progress

X - Open Economy Macroeconomics

Foreign trade and economic activity

Competitiveness and comparative advantage

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 (

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.



(complementar/complementary) SAMUELSON, PAUL A. E NORDHAUS, WILLIAM D., ECONOMIA. MCGRAW HILL, 18ª EDIÇÃO, 2005.



ECTS Credits



  • Teóricas - 30 hours
  • Teórico-Práticas - 30 hours

Evaluation Methodology

  • 1st Frequency: 45%
  • 2nd Frequency: 55%