ISCTE-IUL > Education > LE

Microeconomics I (2 º Sem 2019/2020)

Code:	L0209
Acronym:	L0209
Level:	1st Cycle
Basic:	No
Teaching Language(s):	Portuguese
Friendly languages:

Be English-friendly or any other language-friendly means that UC is taught in a language but can either of the following conditions:
1. There are support materials in English / other language;
2. There are exercises, tests and exams in English / other language;
3. There is a possibility to present written or oral work in English / other language.

Semester	ECTS Credits	Theoretical Lesson (T)	Theoretical and Pratical Lesson (TP)	Practical and laboratorial lesson (PL)	Seminary (S)	Field Work (TC)	Training Period (E)	Tutorial Orientation (OT)	Contact Hours	Autonomous Work	Others (O)	Total Load Hours [?]Contact Hours + Autonomous Work
1	6.0	36.0 h/sem	0.0 h/sem	18.0 h/sem	0.0 h/sem	0.0 h/sem	0.0 h/sem	1.0 h/sem	55.0 h/sem	95.0 h/sem	0.0 h/sem	150.0 h/sem


Since year	2019/2020
Pre-requisites	None
Objectives	The main objectives of this course are the following: a) Provide the key principles that should be applied when thinking as an economist, allowing students to make rational decisions on various economic issues; b) Present the main building blocks of microeconomics: basic concepts, markets, consumer theory, producer theory, and market structures. c) Provide the set of tools necessary to understand various economic policies and interventions; d) Train the student to be able to acquire more specialized knowledge in different areas of applied economics.
Program	PC1. PART A: Microeconomics - Introdutory concepts - Basic concepts - Demand, Supply and Market Equilibrium - Surplus, Eficiency and Market Failures - Elasticities - Government interventions in markets (taxes and price constrols) PC2. PART B: Consumer Theory - Preferences and Utility - Budget Constraint - Choice - Individual Demand and Market Demand PART C: Producer Theory - Production - Costs PART D: Market Structures - Perfect Competition - Monopoly - Imperfect competition models
Evaluation Method	Student must choose one of the following assessment methods: Method A: - Intermediate test (40%) - Final Exam (60%) In order to get a positive grade in the course, the mark of the written (final and intermediate) exam cannot be below 7,5. Method B: - Final Exam (100%)
Teaching Method	The lecture classes (T) have the main goal of presenting the structure of microeconomic theory. The focus will be on intuition and not depth, so students must use the bibliography as a complement. The practice classes (PL) are meant for conceptual discussions and problem solving. Tutoring hours (OT) allow students to clarify specific problems.
Observations	Students are expected to participate actively throughout the semester.
Basic Bibliographic	Varian, H. (2014), Intermediate Microeconomics - A Modern Approach, 9ª edição, Verlag Dashofer. Textos de apoio a disponiblizar pela equipa docente.
Complementar Bibliographic	Frank, R. and Cartwright, E. (2016), Microeconomics and Behavior, 2ª edição, McGraw-Hill. Krugman, P. e R. Wells (2018), Microeconomics, 5ª edição, Worth Publishers.