Microeconomics I

Code:

LGE102

Acronym:

MIC I

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2004/2005 - 1S

Active?	Yes
Web Page:	http://www.fep.up.pt/docentes/tina/Microeconomia1/index.htm
Responsible unit:	Grupo de Economia
Course/CS Responsible:	Business Administration

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
GES	222	Official Curricular Structure since 2004	1	3		-

Objectives

To provide the basic economic concepts vital for managerial decision making and for understanding public policy

Program

I. Introduction: Variables and microeconomic tools; Pricing theory; Choice; Equilibrium; Positive economics versus normative economics
II. Market: Definition; Demand curves; Supply curves; Market equilibrium; Elasticity
III. Consumer behaviour: Utility concept; Consumer preferences; Consumer budgetary constraint; Maximising utility; Effects of changes in price; Effects of changes in income; Substitution effect and pricing effect; Applications: Analysis of public policies.
IV. Equilibrium and efficiency: Consumer surplus; Production surplus; Price controls and efficiency; Taxes and Efficiency;
V: Asymmetric information

Main Bibliography

Microeconomics, Robert S. Pindyck and Daniel L. Rubinfeld. Prentice-Hall, Inc. New Jersey, 5ª. Ed. 2000.

Complementary Bibliography

Introduction to Economics, N., Gregory Mankiw. Elsevier, 2.ª edição
Principles of Economics, Robert Frank e Ben Bernanke. McGraw-Hill, 2003
Microeconomics and Behavior, Robert H. Frank. McGraw-Hill. Portugal, 3.ª ed. 1998
Microeconomics, Stephen Dobson, G. S. Maddala, and Ellen Miller. McGraw-Hill, Inc. 1989
Economia da Empresa, José Mata. Fundação Calouste Gulbenkian 2000.

Teaching methods and learning activities

Lectures through graphic presentation and math. Applications of real world

Evaluation Type

Distributed evaluation with final exam

Eligibility for exams

The student has to atten 2/3 of the all classes.

Calculation formula of final grade

The continuous evaluation: The two minitests - 30% and the test - 70%