Microeconomics

Code:

EIG0023

Acronym:

MI

Keywords
Classification	Keyword
OFICIAL	Economics and Finance

Instance: 2009/2010 - 1S

Active?	Yes
Responsible unit:	Department of Industrial Engineering and Management
Course/CS Responsible:	Master in Engineering and Industrial Management

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
MIEIG	66	Syllabus since 2006/2007	3	-	5	42	133

Teaching language

Portuguese

Objectives

In this course it is aimed that students are able to correctly implement different economical concepts to understand the way markets work and the interaction between the economic agents.

Program

1. Introduction: market structure
a. Market definitions
b. Concentration measures
c. Volatility measures

2. Perfect competition
a. Definition
b. Perfect competitions market characteristics
c. Profit maximization
d. Firm offer:
i. Short-run
ii. Long-run
e. Industry equilibrium:
i. Short-run
ii. Long-run
f. Economic surplus

3. Monopoly
a. Definition
b. Monopoly market characteristics
c. Monopoly vs. Perfect competition
d. Market power
e. Entry barriers
f. Monopoly and profit maximization
g. Equilibrium under monopoly
h. Economic surplus

4. Oligopoly
a. Game theory concepts
b. Cournot model
c. Bertrand model
d. Stackelber model
e. Cartels

5. Monopolistic competition
a. Definition
b. Short-run equilibrium
c. Long-run equilibrium

6. Industrial economics topics
a. Price discrimination
b. Product differentiation

Mandatory literature

Frank, Robert H.; Princípios de economia. ISBN: 972-773-146-5
Mata, José; Economia da empresa. ISBN: 972-31-0901-8

Complementary Bibliography

Barbot, Cristina; Microeconomia. ISBN: 972-8298-51-X

Teaching methods and learning activities

Theoretical concepts will be taught in lectures.
Cases discussion and exercises will be solved in tutorials.
Students (in groups of 2) will be required to write an essay.

Evaluation Type

Distributed evaluation with final exam

Assessment Components

Description	Type	Time (hours)	Weight (%)	End date
Attendance (estimated)	Participação presencial	39,00
Final Exam	Exame	3,00
Essay	Exame	20,00
Study	Exame	55,00
	Total:	-	0,00

Eligibility for exams

According to General Evaluation Rules of FEUP

Calculation formula of final grade

10% * Tutorials participation + 25% * Essay + 65% * Exam

Examinations or Special Assignments

Students should provide an essay in which the a specific sector of their choosing will be analyzed in terms of its concentration and its market structure.

Special assessment (TE, DA, ...)

25% * Essay + 75% * Exam

Classification improvement

10% * Tutorials participation + 25% * Essay + 65% * Exam