Principles of Macroeconomics

No prior course units are required. Students are advised to have:

CB1. A command of elementary arithmetic operations, percentages, rates of change and the solution of simple equations.

CB2. The ability to read and interpret tables, graphs and basic quantitative information.

ME1. Interactive lectures: structured presentation of concepts and models, guided questioning, current examples and formative checks of understanding (OA1, OA2, OA3).

ME2. Guided problem-solving: calculation of aggregates and indicators, construction and interpretation of graphs, and application of models to progressively challenging exercises (OA1, OA2).

ME3. Data and case analysis: exploration of information from Statistics Portugal, Banco de Portugal and Eurostat, as well as economic news, individually and in small groups (OA1, OA3).

Upon completion of this course unit, the student should be able to:

OA1. Identify and interpret the main macroeconomic indicators.

OA2. Understand and apply the main macroeconomic models and policies.

OA3. Analyse current macroeconomic issues using data and credible sources.

Associated competences:

CD1. Economic literacy: understand and use macroeconomic concepts and indicators (OA1).

CD2. Analysis and critical thinking: apply models and assess economic issues and policies (OA2, OA3).

CD3. Communication and autonomy: present analyses and use sources and digital tools responsibly (OA3).

P1 – Introduction and General Concepts

P2 – Measuring Economic Activity
2.1. Output as a Measure of Economic Activity
2.2. Employment and Unemployment
2.3. Measuring the Price Level and Inflation
2.4. National Accounts

P3 – Government and Public Finances
3.1. Budget Balances and Deficits
3.2. Public Debt

P4 – Consumption, Saving and Investment
4.1. Private Consumption and Household Saving
4.2. Investment

P5 – Multiplier Effects

P6 – The IS-LM Model
6.1. The Goods Market and the IS Curve
6.2. The Money Market and the LM Curve
6.3. Simultaneous Equilibrium
6.4. Fiscal and Monetary Policies

P7 – Aggregate Supply and Aggregate Demand

P8 – Economic Growth and Business Cycles

MA1. Individual final examination (100%)
An individual written examination covering all the syllabus content of the curricular unit. The minimum passing grade is 10 out of 20.

Final grade formula:
FG = MA1

Attendance Requirements and Working Students

Class attendance is recommended but not compulsory.

Examination and Grade Improvement Periods

During the resit, special and grade improvement examination periods, assessment consists of an individual final examination worth 100% of the final grade.

Procedure in Cases of Suspected Academic Misconduct

Where there are reasonable grounds to suspect academic misconduct during the marking of the examination, the student will be required to take an oral examination to verify the knowledge and skills demonstrated. This assessment will be conducted by a panel comprising the lecturer responsible for the curricular unit and two other lecturers from the same subject area. If the student is unable to demonstrate the knowledge and skills shown in the written examination, the examination will be declared null and void

NAO