Political Economy I

Code:

D103 I

Acronym:

EP I

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2016/2017 - 1S (since 19-09-2016 to 16-12-2016)

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	203	Novo Plano Oficial do ano letivo 2016	1	-	6	-
		Plano Transitório do ano letivo 2016	1	-	6	-

Teaching language

Portuguese

Objectives

Economics I (Economia Política I) provides the fundamentals in micro and macroeconomics, 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 what policies might improve outcomes, (efficiency goals). Macroeconomics is the focus of short-term, which covers questions such as production, unemployment, inflation, natural resources, monetary policy and global economic issues. The analytical methods taught 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 to be adopted serves the purposes deemed appropriate for their match the goals of fostering the students’ expert knowledge and research skills, since it focuses on theoretical presentations, a practical treatment of issues and a constructive debate. The exposition of theoretical subjects will always be illustrated with case-studies, being students involved in discussions about both the power and limitations of the theoretical advances in explaining practical and real society situations.

Working method

Presencial

Program

Part I – Introduction to Economics

1. Microeconomics

1.1. Economy: general perspective

 

1.2. Supply, demand and market

 

1.3. Market competition

 

1.4. Income redistribution

1.5. Labour market, natural resources and capital

2. Macroeconomics

2.1. General approach

2.2. Economy and government role

 

2.3. Money and financial institutions

 

2.4. Macroeconomics: open economy

 

2.5. Economic growth and development

 

PARTE II – Market failures and corrective policies with or without government direct intervention

1. Market failures

1.1. Asymmetries of information, decision under uncertainty: the contribution of agency theory

1.2. Ineficiencies– the prisioner dillema

1.3. Failures in competition

1.4. Public goods

1.5. Externalities

1.6. Production of knowledge and innovations

1.7 Inequalities in income distribution

2. Corrective policies

2.1 Regulation

2.2 Government direct intervention

Mandatory literature

Samuelson Paul Anthony 1915-; Economia. ISBN: 84-481-4619-0
Mankiw N. Gregory; Introdução à economia. ISBN: 85-221-0408-5
Morcillo, Francisco Mochon; ECONOMIA: TEORIA Y POLITICA (6ª EDICION), MCGRAW-HILL / INTERAMERICANA DE ESPAÑA, 2009. ISBN: 9788448170844 (Including the exercise book)
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-; A^intervenção pública no domínio dos cuidados de saúde
Cruz José Manuel Neves 1965-; Reequacionando a acção do Estado na formulação de políticas de inovação
Cruz José Manuel Neves 1965-; Bem público "cultura"
Cruz José Manuel Neves 1965-; Desafios jurídicos, económicos e políticos às crises mundiais

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

Distributed evaluation with final exam

Assessment Components

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

Eligibility for exams

In the terms of the Assessement Regulations.

Calculation formula of final grade

In the terms of the Assessement Regulations.

Internship work/project

NÃO APLICÁVEL

Classification improvement

In the terms of the Assessement Regulations.