Political Economy I

Code:

D103 I

Acronym:

EP I

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2025/2026 - 1S (since 15-09-2025 to 19-12-2025)

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	177	Novo Plano Oficial do ano letivo 2016	1	-	6	-

Teaching language

Portuguese

Objectives

Political Economics I addresses the fundamental issues of micro and macroeconomics (destined to students with no previous knowledge in these subjects).

The curriculum applies the methods of microeconomic analysis in dealing with the functioning of the market, its failures and the policies adjusted to the optimization of the results (efficiency objectives).

Macroeconomics tries to analyze and understand the main mechanisms that dominate State intervention, correcting the disequilibriums that affect the national economy: recession, unemployment, inflation and balance of payments. The approach will be analytical and historical, starting in the post-war period and going through the key moments that accompany the turn of the century to the present.

The methods follow a descriptive approach, enabling students to interpret the central ideas of contemporaneity, within the theoretical framework of economic analysis.

Learning outcomes and competences

The teaching methodology to be adopted serves the purposes deemed convenient for its adequacy to the objectives of promoting research skills and expertise of students, since it privileges the theoretical exposition, the practical treatment of the issues and the constructive debate.

The presentation of theoretical contents will always be illustrated with application cases, being the students invited to discuss the power and limitations of the theoretical elements in their application to practical situations in society.

Working method

Presencial

Program

I - Basic economic concepts

• Concepts of economics


• Modern mixed economics

II - Microeconomics: demand, supply and market

• Basic elements of demand and supply


• Supply and demand: elasticity and applications


• Demand and consumer behavior


• Production and business organization


• Cost analysis


• Markets in perfect competition


• Market failures


• Labor market and other factors of production


• Interference in the market: the taxation

III – Macroeconomics fundamentals and objectives

1. Balances and imbalances of the national economy


2. Theoretical foundations of liberalism


3. Theoretical foundations of interventionism


4. Economic objectives: growth, full employment, price stability, external balance


5. The main policy objectives

IV – Macroeconomic policy instruments and strategies

1. Monetary and exchange rate policy


2. Budget and fiscal policy


3. Changing constraints and strategies in the post-war period


4. Strategies at the turn of the century


5. Globalization and new challenges of today

Mandatory literature

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

Complementary Bibliography

Paul Krugman; Introdução à economia. ISBN: 978-85-352-1108-5
João Luís César das Neves; Introdução à economia. ISBN: 972-22-1516-7
José Neves Cruz; Desafios jurídicos, económicos e políticos às crises mundiais
Eduardo Raposo de Medeiros; Economia internacional. ISBN: 978-972-592-400-6
Tony Judt; Pós-guerra: História da Europa desde 1945, Edições 70, 2014. ISBN: 9789724417806

Comments from the literature

Some additional texts will be distributed to the students in copies or made available in the DOCUMENTS PAPER of the course in SIGARRA, in particular regarding the Macroeconomics contents.

Teaching methods and learning activities

The course of teaching activities will be carried out mainly through theoretical and practical lessons, starting with a theoretical exposition by the teacher, opening itself later to debate and the promotion of constructive critical capacity and research of the students, who will have active participation in learning under the guidance of teachers.

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)
Frequência das aulas	0,00
Total:	0,00

Eligibility for exams

As provided by the FDUP's current Knowledge Assessment Regulations.

Calculation formula of final grade

In accordance with the Regulations for the Evaluation of Knowledge of the Degree in Law of FDUP, it was decided to use the system of evaluation by final examination.

This option is justified by the high number of students per class.

Classification improvement

According to the Assessment Regulations of the Degree in Law.