Introduction to Economy

Presentation

A basic knowledge of economics is considered essential to anyone wishing to study the European integration process. The idea is not forming economists, it is preparing students to understand the most important economic phenomena and their importance for the life of human societies. It is a subject which must be treated in the first year of the course on European studies, as it will be needed to understand the content of other curricular units. And which should be complemented by other curricular units in the field of economics, but with more specific objects.

Part of this Programme

European Studies and International Relations

Level of Qualification|Semesters|ECTS

| Semestral | 4

Year | Type of course unit | Language

1 |Mandatory |Português

Code

ULHT450-98

Recommended complementary curricular units

As this is a first year subject, no complementary units are recommended.

Prerequisites and co-requisites

n/a

Professional Internship

Não

Syllabus

1.     Microeconomics

         1.1       What is economics

         1.2       Efficiency in economics

         1.3       Offer and Supply

         1.4       Market

         1.5       Consumer's Theory

         1.6       Producer's Theory

2.      Macroeconomics

         2.1       Product

         2.2       Price level

         2.3       Employment

         2.4       Foreign trade

         2.5       Imbalance in macroeconomic variables

         2.6       Saving, consumption and investment

         2.7       Theory of the Aggregate Demand

         2.8       Economic policy

                      2.8.1   Budget policy

                      2.8.2   Monetary policy

                      2.8.3   Foreign trade policy

3.      Money, Banking, Credit

         3.1       Money

         3.2       Banking

         3.3       Credit, debt, investment

Objectives

The objectives of this curricular unit are, first of all, transmitting information on the scope of economics in general, and the way the most important economic phenomena take place and are interrelated. More than a static knowledge, it is hoped that students will understand the way economic phenomena evolve, how they relate to each other, and what their importance is for the well being and dignity of the members of any political community. Students should also understand how policies may positively influence the economy and its main macroeconomic variables. The idea is not forming economists, but developing the students' capacity to understand the importance of economics in the life of societies.

Teaching methodologies and assessment

It is assumed that students have little or no previous knowledge of economics. As such we start by making a short but solid presentation of what is economics, what are its objectives and principles. Next attention is given to the environment in which the economy must function, a description of the main economic agents, their motivations and mutual relations. Next, economic problems are presented on the national scale. Throughout, the various issues are outlined and discussed in the class, with the help of a manual specially written for that purpose. Students are encouraged to voice comments and doubts, which are fully discussed in the classroom. Grading is partially based on participation in the discussions, and partially on three tests, one for each part of the syllabus. Before each test students receive a list of 10 questions, three of which will be used in the test.

References

• SILVA, Nuno Cardoso da - Elementos de Economia e de Economia Política para Estudantes de Ciências Sociais, Edições Universitárias Lusófonas, Lisboa, 2018, Manuais Universitários nº 2, ISBN 9789897570797
• SAMUELSON, Paul A., NORDHAUS, William D. - Economia, 19ª edição, Mc Graw-Hill, 2011, ISBN 9789899717237
• ARAÚJO, Carlos Roberto Vieira - História do Pensamento Económico, Editora Atlas, São Paulo, Brasil, 1986, ISBN 9788522401482

Office Hours

Não há atendimento de docente por não haver espaço previsto para tal.