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Presentation
Presentation
Microeconomics I introduces students to the concepts, models, and analytical methods that underpin the study of individual decision¿making under conditions of scarcity. It focuses specifically on consumer theory, including the analysis of preferences, optimal choices, responses to price and income changes, the derivation of demand functions, and the decomposition of the relevant economic effects. These topics provide the foundational basis for subsequent courses in intermediate microeconomics as well as applied fields such as Public Policy or Labour Economics. The course therefore plays a structuring role, equipping students with essential analytical competencies, promoting mastery of formal techniques for the representation and solution of economic problems, and developing the ability to interpret and assess economic models.
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Class from course
Class from course
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Degree | Semesters | ECTS
Degree | Semesters | ECTS
Bachelor | Semestral | 6
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Year | Nature | Language
Year | Nature | Language
1 | Mandatory | Português
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Code
Code
ULHT32-2921
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Prerequisites and corequisites
Prerequisites and corequisites
Not applicable
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Professional Internship
Professional Internship
Não
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Syllabus
Syllabus
CONSUMER THEORY: 1. Introduction 2. Preferences and utility 3. Budget constraint 4. Optimal choice and demand 5. Comparative statics 6. Market demand
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Objectives
Objectives
Upon completion of the course, students should be able to: Understand key foundations of consumer theory: assumptions, preferences, utility and rational behaviour. Analyse preferences: represent indifference curves and determine the marginal rate of substitution. Apply budget constraints and understand the effects of price and income changes on choices. Determine optimal consumption bundles using geometric and analytical methods. Derive individual demand functions from optimal choices. Use consumption and Engel curves to classify goods (ordinary/Giffen, normal/inferior). Decompose income and substitution effects and apply surplus, compensating and equivalent variation. Aggregate individual demands into market demand.
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Teaching methodologies
Teaching methodologies
Classes in Microeconomics I are delivered in a lecture-tutorial format, integrating the presentation of theoretical content with guided problem-solving. The theoretical component is based on a structured presentation of the fundamental concepts, supported by graphical and algebraic demonstrations. The practical component complements these moments through the application of the concepts to exercises. The lecture slides, as well as the exercises and their detailed solutions, are made available in advance, enabling students to arrive prepared and ensuring that class time can be dedicated to deepening the material and clarifying doubts.
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References
References
Varian, H. R., & Melitz, M. (2024). Intermediate Microeconomics: A Modern Approach (10th ed.). W. W. Norton.
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Assessment
Assessment
No regime de avaliação contínua, a classificação final (CF) é calculada como:
CF=0,4×P1+0,6×P2
em que P1 e P2 são, respetivamente, as classificações da primeira e da segunda prova escrita, expressas até às centésimas.
A primeira prova escrita (P1) realizar-se-á a meio do semestre e abrange os pontos 1 a 4 (inclusive) do programa. A segunda prova escrita (P2) realizar-se-á no final do semestre e abarca todos os conteúdos programáticos. Ambas as provas são presenciais, individuais e sem consulta, sendo apenas permitida calculadora simples (não programável).
A classificação final é arredondada às unidades. Não existe nota mínima em nenhuma das provas escritas, sendo aprovados os alunos cuja classificação final seja igual ou superior a 10 valores. Nos termos do n.º 2 do artigo 8.º e do artigo 17.º do Regulamento Geral de Avaliação da Universidade Lusófona, os estudantes que não obtiverem aprovação no regime de avaliação contínua têm acesso à época de Recurso.
Qualquer forma de plágio, uso de meios não autorizados ou cooperação indevida implica anulação da prova, nos termos definidos no Capítulo IX do Regulamento Geral de Avaliação da Universidade Lusófona.
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Mobility
Mobility
Yes
