Microeconomics

1. Attendance regime: Lecturepractice
classes (LP)
2. Evaluation method: Two distinct evaluation methods
1) Mixed Evaluation (ME) = 30% Continuous evaluation (CE) +70% Final exam (FE)
(Minimum score required on final exam FE: 7,5 values)
CE – Students will be evaluated by taking tests throughout the semester and by the participation during
classes.
2) Final Evaluation (FE) = 100%Final Exam
At the end of the semester the student may always opt by FE method.

This subject aims at developing the student’s skills regarding mainly the following economic analysis issues:
Identify and understand the basic principles of economics;
Apprehend the fundamental economic concepts and apply economic rationality.
Understand the market operating mechanisms in a perfect competition set
Identify the main causes and effects resulting from changes in supply and demand, within market equilibrium.
Understand and comprehend the main drivers of market’s perfect and imperfect competition
Understand consumer behaviour

0. Introduction
0.1 Course presentation
0.2 The main economic issues
Chapter I – Demand, Supply and Prices
1.1. Demand curve
1.2. Supply curve
1.3. Market equilibrium
Chapter II – Consumer behaviour theory
2.1. Consumer’s rational choice
2.2. Individual and market demand
2.3. Consumer surplus
Chapter III – Firm theory
3.1. Production
3.2. Costs
Chapter IV – Perfect competition
4.1. Profit maximization
4.2. Optimal production level
Chapter V – Imperfect competition
5.1. Market power origins
5.2. Monopoly
5.3. Other forms of imperfect competition

NAO