Introduction to Economics

Base Knowledge

Basic knowledge of Economics and Quantitative Methods.

Teaching Methodologies

Theoretical lectures with practical component (case studies and exercise resolution).

Learning Results

This module provides the basic analytical framework for understanding the main economic concepts and principles.

The topics covered are centered on the study of both Microeconomics and Macroeconomics.

Part I, dedicated to Microeconomics, should allow the students to develop their skills through the application of the microeconomic theory to problems and case studies as well as have a knowledge of market mechanisms. Part II, dedicated to Macroeconomics, will allow the students to understand the determinants of aggregate economic activity in the short run and to understand the role of macroeconomic policy in stabilizing the economy.


0- Introduction

0.1 – Introduction to the course

0.2 – Basic tools for studying Economics.

Part I – Microeconomics

1-    Fundamentals of Economics

1.1  – The Economic problem

1.2 – Scarcity and efficiency.

1.3 – The economic rationality

1.4 –  Basic concepts

2  – The basics of Supply and Demand

2.1 – The supply and demand curves

2.2  – The mechanism market: equilibrium changes

2.3  – Supply and demand elasticities: the short and the long run

2.4 – Effects of government intervention: price controls, minimum prices and maximum prices.

3  – Competitive Markets

3.1 –  Consumer behavior

3.2 –  Producer behavior:

3.21-Production and the cost of production

3.2.2 – Profit maximization and competitive supply

3.3 – The analysis of market equilibrium

Part II – Macroeconomics

1 – Fundamentals of macroeconomics

1.1  Representing the economic life

1.2  The main macroeconomic questions

1.3  The Production Possibility Frontier: measuring economic activity

1.31- GDP and unemployment

1.3.2 – National income accounting

1.33 – Measuring prices and inflation

2 – Short-Term Economics

  2.1 – Consumption and Savings

  2.2 – Investment

  2.3- Economic cycles and aggregated demand

  3 -Long Term Economics  

  3.1 – The process of Economic growth

  3.2 – Economic Indicators  

  3.3 – Main growth factors

  3.4 – Economic growth and development

 3.5 – Development inequalities

Curricular Unit Teachers




Fernandes, A., Pereira, E,, Bento, J., Madaleno, M. e Robaina, M., (2021), “Introdução à Economia”, 3ª ed., Edições Sílabo
Frank, R.H (2021) “Microeconomics and Behaviour”, 10th ed., McGraw-Hill
Mendonça, A., Magriço, V., Vale, S., Abreu, A. e Cunha, V., (2021), ” Lições de Macroeconomia -Uma Introdução”, 1ª ed., Edições Sílabo
Pindyck, R. e Rubinfield, D. (2018), “Microeconomics”,  9th, Pearson.
Samuelson, P. e Nordhaus, W (2011), “Economia”, 19ª ed., McGraw-Hill