Principles of Micreconomics


The aim of the course is to introduce students to the concepts and analytical tools of
Microeconomic Theory and illustrate its application to economic issues and policy.

General characterization





Responsible teacher

Maria do Carmo Seabra, Clara Costa Duarte


Weekly - Available soon

Total - Available soon

Teaching language

Portuguese and English




Krugman, P., Wells, R., "Economics", any edition, Worth Publishers,
In class and study materials we follow the book of Krugman, 2nd edition. However, since at the
introductory level the main references in the area of Microeconomics are very similar in terms of
topics and of depth, any good textbook can be used as an alternative. In the CORE site there is an
introduction to Economics course available in free access which will be used in some topics.
Available on the Course Moodle page to download: (access code provided in the first theoretical
· The syllabus
· The course calendar and detailed program with references by class and by topic
· Sets of exercises for resolution in tutorial classes and homework
· Slides and examples of theoretical classes

Teaching method

Lectures: Two weekly classes of 1:20. Presentation and discussion of the topics of the program
illustrated where possible with examples; clarification of doubts and questions.
Weekly Tutorial: A 1:20 class with the aim of exploring some specific topics through problem
Office hours:
Professors: General questions and guidance in study.
Teaching Assistants: Questions on solving the exercises and study orientation.
The course requires some study work outside the classroom and the student must, on average,
dedicate 6 weekly hours to study beyond class. In addition to participation in all lectures and
tutorials, students are expected to accompany the materials taught on a weekly basis and to try to
solve the problems made available. The timetable for the course, theoretical and practical classes,
is available on the Moodle page of the course.

Evaluation method

The assessment rules described below apply in regular and re-sit exams
as well as in grade improvement exams (regular and re-sit)
Regular Exam Period
-2 Intermediate Tests– the best score of the 2 tests has a weight of 25%. Tests cover the contents
given in lectures up to one week before the respective date and are done without consultation
and without calculators. The realization of at least one test is mandatory.
-1 Group Homework: worth 10%, requested throughout the semester for delivery at specific date.
The delivery of these home works is mandatory
-2 Individual quizzes in Moodle: worth 5%, requested throughout the semester for delivery at
specific dates. The delivery of all the quizzes is mandatory, too.
Teamwork and mutual assistance in the study are behaviors to be encouraged. However, the
quizzes, intermediate tests and final exam must, under word of Honor of the student, correspond
to an individual effort, carried out without giving or receiving any kind of help. Accordingly,
identical responses to homework will not be considered
-Final exam: 60% (minimum of 8.5). Covers all the topics addressed in the course. It is done
without consultation and without calculators.
If a student misses one or more mandatory pieces of evaluation, the final score does not follow
the rules defined above. Evaluation rules will then be set on a case by case basis by the Professors
of the Course and may include oral exams.
Re-sit Exam Period
As referred, the above-mentioned rules apply in the two exams, normal and re-sit.
Grade Improvement in Regular Period
The above-mentioned rules apply for grade improvement.
Grade Improvement in Re-sit Period
The above-mentioned rules apply in the two periods, regular and re-sit.
Demonstration of the coherence of the teaching methods with course learning objectives
The learning methods most suitable to this course are a mix of different learning methods and not
one method exclusively. The mix of teaching methodologies is intended to provide students with
the adequate concepts, tools and methodologies to conduct microeconomic analysis. It also
contributes to the process of individual and group learning and to the development of critical
Lectures use mostly organized information transmission, learning by examples and class
discussion. In tutorial classes learning by doing and problem solving capabilities are stimulated.
The Homework assignment is based on learning by examples and learning by doing.

Subject matter

1-Introduction: basic methodologies and concepts of microeconomics
2-Supply, Demand
3-Behind supply and demand: consumer and business decisions
4-Market structures: perfect competition, monopoly, oligopoly, and monopolistic competition.
5-Market failures: externalities, public goods, common resources, information problems.