Political Economy

Code: ECN02283L

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

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

Learning Goals

1-To encourage the taste for study and understanding of economic phenomena and their interdisciplinary with the social sciences.
2- Understand the fundamental macro principles that explain how economies work, especially in a modern framework, regarding economic policies (fiscal, monetary and exchange rate) for the evolution of the main economic indicators for production, employment and inflation.
3-Understand the recent past of the Portuguese economy, as well as the determinants and conditions of its development and EMU
4-Understand the political dimension of economics, i.e. distinguish economic policy from political economics.
5-Use the English language with the learning tool of economics.
6 -It is intended interaction between the social reality, which encompasses the economic aspect.
7- Integrate economic reality with supranational relations
8- Address economic globalization and its social and political interactions

Introduction ? Fundamental Concepts

Part I ? The Context of Economic Analysis
1.1 Economic Activity in Context
1.2 Market Mechanism: Supply and Demand

Part II ? Aggregate Economics: Measurement, Concepts, and Instruments
2.1 Main Macroeconomic Aggregates
2.2 Economic Measurement: Rates and Indices

Part III ? Macroeconomic Theory and Policy
3.1 Objectives of Macroeconomics: Output, Employment, Price Stability, and International Trade
3.2 Aggregate Supply and Demand
3.3 Private Consumption and Investment
3.4 Economic Function of the State
3.5 Money, Its Functions and Characteristics
3.6 Unemployment and Inflation
3.7 Relations with Foreign Countries

Teaching Methods

Teaching is based on theoretical-practical classes, transmission of theoretical knowledge and carrying out practical exercises in and homework.
Students will be encouraged to acquire and understand fundamental concepts, always using real-life examples with practical exercises based on situations in the Portuguese, European and global economies. Students will be encouraged to interpret reality by applying the knowledge they have acquired.
The learning material is presented in Moodle, including theoretical and practical questions for students to solve before submitting to assessment. Students can interact with classmates and the teacher to clarify any questions related to the subject taught.

Assessment

There are two assessment systems: continuous assessment and final assessment. Taking exams under each of these systems requires attendance in at least 75% of the classes taught.

1 - Continuous Assessment System:
Two written tests with equal weighting: 1st exam (P1), 2nd exam (P2):
Grade under continuous assessment system = 0.50 × P1 + 0.50 × P2, if P1 and P2 ? 6.5
Grade under continuous assessment system = 8 points out of 20 if:
0.50 × P1 + 0.50 × P2 ? 9.5 and P1 or P2