Microeconomics

Code:

EIG0023

Acronym:

MI

Keywords
Classification	Keyword
OFICIAL	Economics and Finance

Instance: 2013/2014 - 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	79	Syllabus since 2006/2007	3	-	5	42	135

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. 

Learning outcomes and competences

At the end of the course, the students should have the necessary skills to: - characterize a given market - identify the market structure - identify the economic agents key decision making strategic variables - identify the agents' best response and its competitors response

Working method

Presencial

Program

2. Introduction: market structure a. Market definitions b. Concentration measures c. Volatility measures 3. 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 4. 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 5. Oligopoly a. Game theory concepts b. Cournot model c. Bertrand model d. Stackelber model e. Price discrimination f. Product differentiation g. Cartels 6. Monopolistic competition a. Definition b. Short-run equilibrium c. Long-run equilibrium 7. Externalities 8. Public goods and Common Resources 9. Uncertainty, risk and private information

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

Designation	Weight (%)
Exame	80,00
Trabalho escrito	20,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	70,00
Frequência das aulas	39,00
Trabalho de investigação	24,00
Total:	133,00

Calculation formula of final grade

20% * Essay + 80% * Exam Essay deadlines: a. Group constitution: September 30th; b. Final report: December 17th; Any delays in the above deadlines will result in the deduction of 1 value in the final essay grade, for each day of delay.

Special assessment (TE, DA, ...)

100% * Exam

Classification improvement

20% * Essay + 80% * Exam. Minimum essay grade for it to valid for calculation of final grade: 8