2025
Principles of Microeconomics
Name: Principles of Microeconomics
Code: ECN02314L
6 ECTS
Duration: 15 weeks/156 hours
Scientific Area:
Economy
Teaching languages: Portuguese
Languages of tutoring support: Portuguese, English
Regime de Frequência: Presencial
Presentation
This UC is an introductory course to Economics, which provides knowledge, principles, concepts and elementary models of economic analysis.
Sustainable Development Goals
Learning Goals
Principles of Microeconomics is an introductory course that emphasizes the principles, concepts, models and analytical instruments of economic theory related to markets, consumers, production systems and market structures. It aims to equip the student with essential knowledge and analytical tools to understand phenomena related to the organization and functioning of markets, consumption decision-making by consumers, efficiency in the production of companies and the behaviour of these agents in different market structures. At the end of the course, students must gather essential skills and knowledge about rules of analysis and concepts of microeconomic theory, the functioning of markets and the behaviour of economic agents, and about market structures of perfect competition and monopoly. They must have the ability to develop a coherent reflection and discourse on these economic topics.
Contents
1. Introduction
1.1 Economics as a science
1.2 The economic problem: scarcity and choice
1.3 Societys technological possibilities
1.4 Review of mathematical tools and graphical analysis
1.5 The economic circuit
2. Model of Supply and Demand - Introduction
2.1 Market
2.2 Demand curve
2.3 Supply curve
2.4 Joint analysis of supply and demand
2.5 Government intervention in the market
2.6 Consumer surplus and producer surplus
3. Consumer behaviour
3.1 Utility and preferences
3.2 Static equilibrium of the consumer
3.3 Changes in income and prices: impact on consumer choices
4 Firm's production and organization
4.1 Basic concepts
4.2 Production
4.3 Costs
4.4 Firms decision: optimal combination of factors
5. Markets
5.1 Perfect Competition
5.2 Monopoly
1.1 Economics as a science
1.2 The economic problem: scarcity and choice
1.3 Societys technological possibilities
1.4 Review of mathematical tools and graphical analysis
1.5 The economic circuit
2. Model of Supply and Demand - Introduction
2.1 Market
2.2 Demand curve
2.3 Supply curve
2.4 Joint analysis of supply and demand
2.5 Government intervention in the market
2.6 Consumer surplus and producer surplus
3. Consumer behaviour
3.1 Utility and preferences
3.2 Static equilibrium of the consumer
3.3 Changes in income and prices: impact on consumer choices
4 Firm's production and organization
4.1 Basic concepts
4.2 Production
4.3 Costs
4.4 Firms decision: optimal combination of factors
5. Markets
5.1 Perfect Competition
5.2 Monopoly
Teaching Methods
The in-person sessions are theoretical and practical, combining a teaching component through theoretical presentation of the program's topics, accompanied by a strong empirical dimension with examples and application to concrete cases, and a more learning-focused component through practical exercises.
The teaching and learning method includes:
- Theoretical presentation of the subject in the classroom with PowerPoint slides;
- Use of the internet and e-learning tools;
- Practical application exercises;
- Presentation and discussion of real-world examples from companies and markets;
- Availability of all slides and study materials on the Moodle platform;
The teaching and learning method includes:
- Theoretical presentation of the subject in the classroom with PowerPoint slides;
- Use of the internet and e-learning tools;
- Practical application exercises;
- Presentation and discussion of real-world examples from companies and markets;
- Availability of all slides and study materials on the Moodle platform;
Assessment
The assessment for this course comprises the following options:
1) Continuous assessment regime, which includes:
- Attendance of at least 75% of the classes;
- The completion of three individual written assessment tests.
The final grade will be the simple average of the results obtained in the three tests.
2) Final assessment regime, which includes:
- Completion of an individual written exam at the end of the semester, the score of which corresponds to the final grade.
1) Continuous assessment regime, which includes:
- Attendance of at least 75% of the classes;
- The completion of three individual written assessment tests.
The final grade will be the simple average of the results obtained in the three tests.
2) Final assessment regime, which includes:
- Completion of an individual written exam at the end of the semester, the score of which corresponds to the final grade.
Accreditations and Certifications
