Political Economics
Code
711071008
Academic unit
Faculdade de Ciências Sociais e Humanas
Department
Estudos Políticos
Credits
6
Teacher in charge
Luís Oliveira Martins
Weekly hours
4
Teaching language
Portuguese
Objectives
a. To acquire theoretical and practical tools in order to understand the rationality of economic agents;
b. To acquire theoretical and practical tools in order to understand the complex interactions between markets and the state in mixed economies;
c. To acquire theoretical and practical tools in order to understand the evolution of the Portuguese economy.
d. To develop a critical perspective on current subjects of Political Economy.
Prerequisites
None.
Subject matter
1) Basic concepts: definitions of economic science, positive/normative economics, the modern mixed economies, the trade-off between efficiency and equality);
2) Microeconomics: the theory of supply and demand in markets of goods and services, perfect competition vs imperfect competition, market failures and state intervention;
3) Macroeconomics: GDP growth, unemployment, inflation, aggregate supply and demand, government budget and balance of payments;
4) The Portuguese Economy: economic indicators, convergence and divergence with the EU, international competitiveness.
Bibliography
SAMUELSON, P. and NORDHAUS, W., Economics, 19th ed., McGraw-Hill, 2010
BEGG, D., DORNBUSCH, R. and FISCHER, S., Economics - 9th ed., McGraw-Hill, 2008
LOPES, J.S., A Economia Portuguesa no Século XX, Imprensa de Ciências Sociais, 2004
CARBAUGH, R.J., Contemporary Economics An Applications Approach, 3rd ed., Thomson, 2005
THE ECONOMIST, Guide to Economic Indicators, 5th ed., Profile Books, 2003
Teaching method
Theoretical and practical approaches to the concepts and issues to be analysed.
Teaching methods based on lecturing and also on active involvement of students.
Evaluation method
Two individual tests: 1st Test (50%) + 2nd Test (50%).