Portuguese Economics

Base Knowledge

 Basic macroeconomics and microeconomics.

Teaching Methodologies

Theoretical-practical in class teaching

Content exhibition (lecture)

Questions to students during the exhibition


Analysis of the economic situation in different periods

Work in small groups, including consultation of public databases (e.g. Banco de Portugal and INE)



Reading the recommended bibliography

Viewing of recommended interviews/documentaries/reports

Information search

Learning Results


The Portuguese Economics curricular unit aims to provide future professionals in the field of business sciences with instruments for reflection and discussion of issues related to the past and present situation of the Portuguese economy and to develop critical and well-founded commentary on current Portuguese economic affairs in a global context.


The curricular unit must contribute to:

Knowledge of relevant macroeconomic indicators in analyzing the situation and macroeconomic developments.

Knowledge of the evolution of the Portuguese economy over the last century.

Understanding the consequences of economic policy measures adopted in a given period.

Develop the ability to collect and analyze information relating to the various macroeconomic indicators.

Develop the ability to analyze data in order to compare the situation of the Portuguese economy in different periods and with other countries.

Develop critical thinking in analyzing economic situation reports and evaluating the consequences of economic policy decisions.


1. Basic concepts
1.1. Macroeconomics and economic policy (long-term growth factors versus cyclical fluctuations);
1.2. External accounts;
1.3. Public accounts;
1.2. Economic policies (fiscal policy, monetary policy and exchange rate policy)
2. The economic and financial situation from the beginning of the 20th century until the beginning of the Estado Novo
2.1. The Portuguese economy at the beginning of the 20th century
2.2. From the first republic to military dictatorship
3. The 1930s and 1940s
3.1. The impacts of the Great Depression
3.2. State interventionism
4. World War II and post-war
4.1. The economic consequences of World War II,
4.2. The post-war period and development plans
5. The economic opening of the 1960s
5.1. The EFTA
5.2. The golden years of growth
6. The 1970s
6.1. The oil shocks
6.2. The April Revolution
6.3. Agreements with the International Monetary Fund
7. From Portugal’s entry into the EEC to the Economic and Monetary Union (EMU)
7.1. The economic opening
7.2. Macroeconomic adjustments in preparation for EMU
8. The first two decades of the 21st century and current challenges
8.1. The interruption of convergence
8.2. Four recessions: differences, similarities and causes
8.3. What future?

Curricular Unit Teachers




Base bibliography

Banco de Portugal, Boletim Económico (several numbers)

Lopes, José Silva (1996). A economia portuguesa desde 1960. Gradiva

Mateus, Abel (2013), Economia Portuguesa: Evolução no contexto internacional (1910-2013), 4.ª edição revista e atualizada, Principia, Lisboa.

Texts provided by the teacher.


Complementary bibliography

Alexandre, F.; P. Bação; P. Lains; M. M. F. Martins; M. Portela; M. Simões [Orgs.] (2014), A economia portuguesa na União Europeia: 1986-2010, Actual Editora, Coimbra.

Palma, N. (2023). As Causas do Atraso Português. Dom Quixote.