Economic Decision Analysis

Code: ECN11987M

6 ECTS

Duration: 15 weeks/156 hours

Scientific Area: Economy

Teaching languages: Portuguese

Languages of tutoring support: Portuguese

Sustainable Development Goals

Saúde e bem-estar - 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.

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

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

Paz e Justiça - 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 process of teaching and learning is based on the presentation of the decision theory needed for the understanding of the several economic applications.

The continuous assessment modality is based on the accomplishment of one written (open-books) test, whose weight is 60% on the final grade, and an assignment based upon the demonstration of the analytical results of a scientific article, whose weight is 40% on the final grade. The modality of assessment by exam is based on a single written (open-books) test covering all the two chapters.

Assessment

As for the continuous assessment regime (number 5 of article 110 of the Academic Regulation), this consists of two written tests (with consultation, focusing, the first on the first chapter of the program and the second on the second chapter of the program, each one of them lasting 90 minutes, preferably carried out during the school period), each of them worth 50% in the calculation of the final classification.

As for the final evaluation regime (number 6 of article 110 of the Academic Regulations), this consists of carrying out a (single) written test (with consultation, focusing on the two chapters of the program, lasting 180 minutes, carried out at the time regular exams).