Principles of Microeconomics
Code
1100
Academic unit
null
Department
null
Credits
7,5
Teacher in charge
Maria do Carmo Seabra, Clara Costa Duarte
Teaching language
Portuguese, English
Objectives
The aim of the course is to introduce students to the concepts and analytical tools of Microeconomic Theory and illustrate its application to economic issues and policy.
Prerequisites
N/A
Subject matter
1-Introduction: basic methodologies and concepts of microeconomics
2-Supply, Demand
3-Behind supply and demand: consumer and business decisions
4-Market Structures: perfect competition, monopoly, oligopoly, and monopolistic competition.
5-Market failures: externalities, public goods, common resources, information problems
Bibliography
Krugman P., Wells R., Microeconomics, any edition, Worth Publishers
In class and study materials we follow the book of Krugman, 2nd edition. However, since at the introductory level the main references in the area of Microeconomics are very similar in terms of topics and of depth, any good textbook can be used as an alternative. In the CORE site there is an introduction to Economics course available in free access which will be used in some topics.
Site: http://www.core-econ.org
Available on the Course Moodle page to download:(access code provided in the first theoretical session).
- The syllabus;
- The course calendar and detailed program with references by class and by topic;
- Sets of exercises for resolution in tutorial classes;
- Slides and examples of theoretical classes;
Teaching method
- Lectures: Two weekly classes of 1:20. Presentation and discussion of the topics of the program illustrated where possible with examples; clarification of doubts and questions.
- Weekly Tutorial: A 1:20 class with the aim of exploring some specific topics through problem solving.
- Professors: General questions and guidance in study.
- Teaching Assistants:Questions on solving the exercises and study orientation.
The course requires some study work outside the classroom and the student must, on average, dedicate 6 weekly hours to study beyond class. In addition to participation in all lectures and tutorials, students are expected to accompany the materials taught on a weekly basis and to try to solve the problems made available. The timetable for the course, theoretical and practical classes, is available on the Moodle page of the course.
Evaluation method
The assessment rules described below apply in regular and re-sit exams as well as in grade improvement exams (regular and re-sit)
Regular exam period:
- 2 Intermediate Tests: the best score of the 2 tests has a weight of 27.5%. Tests cover the contents given in lectures up to one week before the respective date and are done without consultation and without calculators. The realization of at least one test is mandatory.
- 1 Group Homework: worth 10%, requested throughout the semester for delivery at specific dates. The delivery of these home works is mandatory
- 1 Individual quiz in Moodle: worth 2.5%, requested throughout the semester for delivery at specific dates. The delivery of all the quizzes is mandatory, too.
Teamwork and mutual assistance in the study are behaviors to be encouraged. However, the quizzes, intermediate tests and final exam must, under word of Honor of the student, correspond to an individual effort, carried out without giving or receiving any kind of help. Accordingly, identical responses to homework will not be considered
Final exam: - 60% - (minimum of 8.5). Covers all the topics addressed in the course. It is done without consultation and without calculators.
If a student misses one or more mandatory pieces of evaluation, the final score does not follow the rules defined above. Evaluation rules will then be set on a case by case basis by the Professors of the Course and may include oral exams.
- Re-sit exam period: As referred, the above-mentioned rules apply in the two exams, normal and re-sit.
- Grade improvement in regular period: The above-mentioned rules apply for grade improvement.
- Grade improvement in re-sit period: The above-mentioned rules apply in the two periods, regular and re-sit.