Class Introduction to Economics

The Basic Notions in Economics course aims to equip students with basic knowledge in terms of economic theory, both at the microeconomic level and at the macroeconomic level. Taking into account the cycle of studies in Human Resources Management, this curricular unit assumes a relevant role in understanding the complex phenomena of economic theory that will serve as support in the decision making at the level of human resources.

1. The Fundamentals of Economics 2. Basic Elements of Supply and Demand 3. Consumer Theory 4. The Producer Theory 4.1. Basic concepts 4.2. Marginal Product Decreasing 4.3. Scale Income 4.4. Short Term and Long Term 5. Costs Function 6. Markets 6.1. Perfect Competition 6.2. Imperfect Competition and the Extreme Monopoly Case 7. Public Sector 7.1. The Functions of the State and its Economic Role 7.2. Externalities and Public Goods 7.3. Taxation 8. Vision and Measurement of Macroeconomics 8.1. Objectives and instruments of Macroeconomics 8.2. Gross Domestic Product 8.3. National Accounts Details 8.4. Price Indexes and Inflation 9.Consumption and Investment 10. The Multiplier Model in closed economy.

Analysis and discussion of Case studies by the students

Mankiw, N. Gregory (2017), Principles in Economics, Cengage Learning; 8 edition

Glenn Hubbard, Anthony P. O'Brien (2007), Microeconomics, Prentice Hall, 2nd Edition