Base Knowledge
Not applicable
Teaching Methodologies
In order to achieve the objectives of the curricular unit and the development by students of the expected skills, the learning process is based on the articulation of several methodologies: 1)Lectures; 2) Practical assignments (exercises, text analysis, case studies); 3) Teacher-oriented research activities.
Learning Results
1. To know the concepts and methodologies used by the economic science
2. To understand the mechanisms of price formation in a market economy and the relationship between economic factors and technical production levels;
3 To understand the relationships between the economy and the natural resources;
4. To discuss options for the management of renewable natural resources.
Program
1. Introduction
1.1. Fundamental problems facing the economy
1.2. Main methodologies used in economic science
1.3. The concepts of opportunity cost, willingness to pay, and willingness to accept
1.4. Production possibilities frontier
2. Market and economic agents
2.1. Economic circuits and relations between agents.
2.2. Supply and demand
2.3. Market imperfections
2.4. Public goods and externalities
2.5. Profit maximization using production and costs functions;
3. Natural resources management
3.1.Total Economic Value
3.2 The cost-benefit analysis: fundamentals, limitations, and applications
3.3. Forest land value
4. The theory of renewable natural resources
4.1 General model of a renewable resource use
4.2 The question of common property and open access
4.3. Private renewable resources: the forest
Curricular Unit Teachers
Grading Methods
- - Written Test (1 & 2) - 30.0%
- - Reports - 40.0%
- - Written Test (3 & 4) - 30.0%
Internship(s)
NAO
Bibliography
Frank, R. e Bernanke, B. (2003). Princípios de Economia. Lisboa: Mc Graw Hill.
Gregory, G. (1987). Resource Economics for foresters. New York: John Wiley & Sons.
Klemperer, W. (2003). Forest resource economics and finance. New York: McGraw-Hill.
Perman, R. [et al.] (2003). Natural resource and environmental economics. 3rd edition. Pearson: Herlow.
Samuelson, P.; Nordhaus, W. (2011). Economia. 19 ª ed. Lisboa: Mc Graw Hill.