Economia

The concepts are presented in an expository manner, using clear examples and encouraging reflection and discussion.
Students are asked to intervene in the interpretation of economic information in order to consolidate, integrate and relate the various concepts. Throughout the classes the theoretical concepts are sometimes applied in solving practical exercises.
Grading is based on assignments and tests during the semester or a written exam, with both theoretical and practical problem solving.

This course aims to provide students with a basic understanding of the economic system, and the ability to collect, process and report economic information, with a particular focus on the building industry and real estate market, developing a shared domain knowledge between engineers and economists. At the end of this course students should be able to:
Understand the economic science object and the way of studying and researching in economics.
Understand the functioning of markets and the behavior of the main economic decision makers: consumers and producers.
Interpreting the macroeconomic data and relevant information in the field.
Understand the situation of the building industry in the national, European and worldwide context, through the economics lens.

1. Introduction to the study of economics
Concepts, issues and basic principles of economics. Axioms, assumptions and models in economics. Microeconomics and macroeconomics.
2. Supply and demand
Demand and supply curves. Market equilibrium. Elasticity. Free markets and the intervention by a government.
3. Consumer choice theory
Consumer behavior. Utility function and budget constraint. Indifference curves and marginal rate of substitution.
4. Production theory and the organization of industry
Production function, technology and production factors. Total, average and marginal product. Marginal rate of technical substitution. Production costs. The producer decision and market equilibrium: perfect and imperfect competition.
5. Overview of Macroeconomics
The measurement of economic activity. Consumption, savings and investment. Inflation. International trade. State intervention in the economy. Portuguese and world economy.

• - Exame - 60.0%
• - Trabalhos individuais - 40.0%

• - Exame - 100.0%

NAO