Cursos / 1º Ciclo / Faculty of Economy and Business Management :: Economics

Versao Portuguesa


2º curricular year
Semestralidade: 1st semester


Leading Teacher: Prof. Doutora Erika Laranjeira
Assistant Professor: Prof. Doutora Erika Laranjeira

Class type and School hours

Orientação Tutorial : 1 Horas
Teórico-prática : 2 Horas

Main Aims/Objectives

It is intended to deepen and complement the knowledge acquired in the course of Macroeconomics. In this regard, several important issues for the internal equilibrium of a closed economy and the internal and external equilibrium of an open economy are addressed.

Specific Aims/Objectives

In particular, students should understand the aspects related to: the market of goods and services; the monetary market; economic policy - monetary and budgetary; international relations - exchange rate, balance of payments and capital mobility.

Skills to be acquired

At the end of the course, students should be able to understand and discuss the behavior and macroeconomic problems of current economies and be able to propose solutions to these problems.

Teaching Procedures

In theoretical classes the exposed material is always accompanied by an illustration showing real cases. The tutorial classes are designed to clarify questions and do some exercises about the issues taught in the theoretical classes.


1. Keynesian Model
1.1. Income and expenditure
1.2. Equilibrium
1.3. Multiplier Effect

2. IS/LM Model in a Closed Economy
2.1. Interest Rate, Consumption and Investment
2.2. The Goods and Services Market and the IS curve
2.3. The Money Market and the LM curve
2.4. Equilibrium with Fixed Prices
2.5. Macroeconomics Policies
2.5.1. Monetary Policy
2.5.2. Fiscal Policy
2.6. Keynesian Multiplier

3. IS-LM model in an Open Economy
3.1. Exchange Rate and Exchange Rate Regimes
3.2. Exchange Market
3.3. The balance of Payments
3.4. Equilibrium with Fixed Exchange Rates
3.5. Equilibrium with Flexible Exchange Rates

4. AS/AD Model
4.1. Aggregate Demand
4.2. Aggregate Supply
4.3. Equilibrium with Flexible Prices
4.4. Macroeconomics Policies
4.4.1. Monetary Policy
4.4.2. Fiscal Policy

Evaluation Type

Two tests.

Teaching Resources

Material provided in classes.


Gross Domestic Product
Interest rate
IS/LM Model
Exchange rate
Aggregate demand
Aggregate Supply
Open Economy

Main Bibliography

Author MANKIW, Gregory
Title Macroeconomics
Edition 9ª Ed.
Place Nova York
Editor Worth Publishers
Year 2015
Author BURDA, Michael; WYPLOSZ, Charles
Title Macroeconomics: A European Text
Edition 6ª Ed.
Place EUA
Editor Oxford University Press
Year 2013
Author SILVA, João Correia
Title Macroeconomia
Edition 1ª Ed.
Place Lisboa
Editor Verlag Dashofer Portugal
Year 2011

Complementary Bibliography

Author DORNBUSCH, Rudi; FISHER, Stanley
Title Macroeconomia
Edition 19ª Ed.
Place Lisboa
Editor Eurobooks Editora
Year 2012
Author TAYLOR, Mark; MANKIW, Gregory
Title Economics
Edition 3ª Ed.
Place EUA
Editor Cengage Learning EMEA
Year 2014