Economic Decision Analysis

Code: ECN11987M

6 ECTS

Duration: 15 weeks/156 hours

Scientific Area: Economy

Teaching languages: Portuguese

Languages of tutoring support: Portuguese, English

Regime de Frequência: Presencial

Sustainable Development Goals

Saúde de qualidade - Assegurar uma vida saudável e promover o bem-estar para todos, em todas as idades.

Educação de qualidade - Assegurar a educação inclusiva, e equitativa e de qualidade, e promover oportunidades de aprendizagem ao longo da vida para todos.

Igualdade de género - Alcançar a igualdade de gênero e empoderar todas as mulheres e meninas.

Reduzir as desigualdades - Reduzir as desigualdades dentro dos países e entre eles.

Ação climática - Tomar medidas urgentes para combater a mudança climática e seus impactos (*).

Paz, justiça e instituições eficazes - Paz, justiça e instituições eficazes promover sociedades pacíficas e inclusivas par ao desenvolvimento sustentável, proporcionar o acesso à justiça para todos e construir instituições eficazes, responsáveis
e inclusivas em todos os níveis.

Learning Goals

The main goal of the course is to provide an integrated approach to the process of taking economic decisions by the economic agents in the most relevant situations, i.e. certainty, risk and uncertainty, under static and dynamic contexts.

In terms of professional skills, the course provides the capacity to analyse the economic activity in its diverse dimensions as well as the contact with the definition and execution of applied research in several economic aspects. In terms of general skills, the course provides capacities of adaptability, independent reasoning, and decision and innovation. In terms of specific skills, the course contributes for the solid knowledge of the fundaments of Economics in its several approaches as well as for being able to use some tools of quantitative economic analysis.

1. DECISION ANALYSIS UNDER A STATIC CONTEXT

1.1 The Certainty Situation
1.1.1. Decision Theory
1.1.2. Economic applications/Specific cases

1.2. The Risk Situation
1.2.1. Decision Theory
1.2.2. Economic applications/Specific cases

1.3. The Uncertainty Situation
1.3.1. Decision Theory
1.3.2. Economic applications/Specific cases

2. DECISION ANALYSIS UNDER A DYNAMIC CONTEXT

2.1. The Discrete Time Situation
2.1.1. Decision Theory
2.1.2. Economic applications/Specific cases

2.2. The Continuous Time Situation
2.2.1. Decision Theory
2.2.2. Economic applications/Specific cases

Teaching Methods

The Economic Decision Analysis course aims to explore the decision-making process of economic agents in the most relevant situations they face, according to the way the time variable is treated. The abstraction and flexibility that characterize the perspective from which the problem of determining (the best) economic decisions is studied make the course essentially a means of acquiring modes of reasoning, rather than a "recipe menu."

Assessment

According to the University of Évora's regulations, students may choose between the continuous assessment regime or the final exam regime. In accordance to that regulations, it is established that:

# The continuous assessment regime is based on two assessment tests:

1. A written assessment test (with open books), lasting 105 minutes, focusing on Chapter 1, Decision Analysis in a Static Context, weighing 50% of the final grade;
2. A written assessment test (with open books), lasting 120 minutes, focusing on Chapter 2, Decision Analysis in a Dynamic Context, weighing 50% of the final grade.

# The final exam regime is based on a written assessment test (with open books), lasting 150 minutes, comprehensively covering all the theoretical and practical material taught throughout the course. Therefore, the classification in this evaluation regime will result exclusively from the classification obtained in this test.