Economics of Enterprise

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The methodology used will combine a component of exposition and discussion of theoretical contents and a component of analysis and practical resolution of problems, exercises and practical cases.

The course unit Economics of Business is intended for students to develop a general perspective of the economic reality as a context surrounding organizations, namely, the main problems of economic organization and the way in which they affect the daily life of companies, as well as the ability to interpret the main forces that govern the functioning of markets and their implications for the behavior of organizations and the resolution of these same issues.

1. Introduction to company economics

1.1 Law of scarcity, efficiency versus unemployment

1.2 Economics and business decision

1.3 Production factors, products, markets and economic agents

1.4 Notion of production possibilities frontier

2. Demand and Offer Model

2.1 Demand and supply curves

2.2 Balance quantities and prices

2.3 Determinants of supply and demand

2.4 Displacements and movements along curves

2.5 Elasticity of demand and supply in the short and long term

3. Market, State and Companies

3.1 Competitive market, monopoly and oligopoly

3.2 Mixed Economies

3.3 Externalities of business activity

3.4 Market failures and State intervention in the Economy

3.5 Market imbalance factors

4. Business Offer Decisions

4.1 Cost analysis

4.2 Production Function

4.3 Scale of production, costs and marginal productivity

4.4 Decisions about prices and scale of production and profit maximization

4.5 Breakeven point

Periodic assessment — takes place throughout the academic semester with a theoretical/practical component of individual assessment test(s) (frequency) with a weighting of 50% each of the final grade;

Assessment by exam — assessment of students at the end of a training period through a written test with a weighting of 100% of the final grade.

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NAO