Class Microeconomics I

This course presents and discusses the fundamental tools for modeling consumer modeling of consumer economic behavior are presented and discussed. 

It is intended that students develop the theoretical and analytical skills necessary to necessary to understand the decision-making processes of consumers (households) when they adapt the use of their scarce resources to the satisfaction of multiple needs. 

The student should acquire the fundamental knowledge in the field of consumer theory, which allow to understand the consumer decision process and the construction of the construction of the demand curve. 

Once the demand curve is determined, the market equilibrium is studied in a comparative statics analysis. 

0. Framework for Studying Economy  

1. Market 

1.1. Demand and supply 

1.2. static analysis 

1.3. Efficiency 

1.4. Elasticities 

1.4.1. Demand price 

1.4.2. Revenue  

1.4.3. cross  

1.5. Consumer and producer surplus 

2. CONSUMER THEORY. 

2.1. The rational consumer 

2.2. Budget Restriction 

2.3. Consumer preferences 

2.4. Utility index function 

2.5. The Consumer Balance 

2.6. The ordinary demand curve 

2.7. Revealed preferences  

2.8. The Compensated Demand Curve 

2.9. Consumer Surplus 

2.10. Market demand 

2.11. Market equilibrium  

This course focuses on theoretical-practical teaching supported by mathematical and geometric analysis and numerical applications of the models developed.  

The theoretical exposition is accompanied by the discussion of practical cases and the development of numerical applications that increase the students' sensitivity to the topics under analysis.  

Students are encouraged to follow the subject matter taught with the reading of the supporting texts, and it is sought that they develop a critical sense of analysis of the economic realities under discussion.  

Students can opt for a continuous assessment regime or for the preparation of a written examination test.  

The continuous assessment integrates two moments of evaluation: 4 exercises to be solved in the course of the classes and two written tests, also valuing the students' attendance. 

Varian, Hal (2010), Microeconomia Intermédia: Uma abordagem Moderna, 8th ed., Lisboa, Verlag Dashofer [Varian, Hal , “Intermediate microeconomics: A Modern Approach”, W W Norton & Co Incl] 

Frank, Robert H. (2006), Microeconomia e comportamento, 6ª. ed., Lisboa: McGraw-Hill. [Frank, Robert , “Microeconomics and Behavior”, McGraw-Hill] 

Mateus, Abel e Mateus Margarida (2001), “Microeconomia: teoria e aplicação I”, Verbo