Political Economy I

Code:

D103 I

Acronym:

EP I

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2021/2022 - 1S (since 06-10-2021 to 18-12-2021)

Active?	Yes
Course/CS Responsible:	Law

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LDB	233	Novo Plano Oficial do ano letivo 2016	1	-	6	-

Teaching language

Portuguese

Objectives

Economics I (Economia Política I) provides the fundamentals in micro and macroeconomics and international trade, to those without background in the subject. This course aims to provide students with methods of microeconomic analysis that can enable them to think about when markets work well, when they are likely to fail and which policies might improve outcomes (efficiency goals). Macroeconomics focuses on short-term analysis, covering questions such as production, unemployment, inflation, natural resources, monetary policy and global economic issues. The analytical methods are applied to questions of contemporary importance and the treatment will be non-mathematical, but students are expected to be able to interpret some analytical frameworks of the basic theoretical ideas in economic science.

Learning outcomes and competences

The teaching methodology is appropriate for fostering the students’ expert knowledge and research skills, focusing on theoretical presentations, a practical treatment of issues and a constructive debate. Theoretical subjects are always illustrated with case-studies, involving the students in discussions about both the power and limitations of theoretical advances in explaining and solving real-life situations and problems that every society has to deal with.

Working method

Presencial

Program

I - Essentials of Economics

1. Key-concepts of Economics
2. Modern mixed economy

II - Microeconomics: demand, supply and market

1. Basic elements of demand and supply
2. Supply and demand: elasticity and applications
3. Consumer demand and behavior
4. Production and business organization
5. Cost analysis
6. Perfect competition
7. Market failures
8. Labor market and market of other inputs
9. Taxation

III - Macroeconomics

1. Key-concepts of Macroeconomics
2. Production and growth
3. Savings, Investment and Financial System
4. The currency
5. Unemployment
6. Inflation
7. Trade-off Inflation - Unemployment

Mandatory literature

Samuelson Paul Anthony 1915-; Economia. ISBN: 84-481-4619-0
Mankiw N. Gregory; Introdução à economia. ISBN: 85-221-0408-5
Cruz José Manuel Neves 1965-; Economia e política. ISBN: 978-972-32-1583-0

Complementary Bibliography

Krugman Paul; Introdução à economia. ISBN: 978-85-352-1108-5
Neves João Luís César das 1957-; Introdução à economia. ISBN: 972-22-1516-7
Cruz José Manuel Neves 1965-; Reequacionando a acção do Estado na formulação de políticas de inovação
Cruz José Manuel Neves 1965-; Desafios jurídicos, económicos e políticos às crises mundiais
Medeiros Eduardo Raposo de 1937-; Economia internacional. ISBN: 978-972-592-400-6

Comments from the literature

Some aditional elements will be distributed during the classes.

Teaching methods and learning activities

The teaching method will mainly be comprised of lectures and classes: starting with a theoretical exposition of the teacher, and evolving later to a debate that foster the students’ capacity for constructive criticism and research on behalf of the students. They will actively participate in the learning process under tutorial supervision.

Evaluation Type

Evaluation with final exam

Assessment Components

Designation	Weight (%)
Exame	100,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	87,00
Frequência das aulas	75,00
Total:	162,00

Eligibility for exams

In the terms of the Assessement Regulations.

Calculation formula of final grade

In the terms of the Assessement Regulations, the evaluation is by made by final written examination, because the number of students is very high.

Internship work/project

NÃO APLICÁVEL

Classification improvement

In the terms of the Assessement Regulations.