S T U D Y A B R O A D R E P O R T

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1 Date: 24/02/2015 S T U D Y A B R O A D R E P O R T PORTO, PORTUGAL SEPTEMBER 14 JANUARY 15 Sonrisa Visser S

2 TABLE OF CONTENTS General report Host institution and exact dates of semester abroad 3 Contact with home faculty, preparation and journey 3 Residence abroad 3 Grant Amount 5 Expenses abroad 5 Study (general) 6 Specific report Managerial economics 8 Labor economics 10 Economics and public policy 12 Development economics 14 Marketing management 16 2

3 GENERAL REPORT Host institution and exact dates of semester abroad In Porto I went to The Catholic University located at the Foz campus. This is a pretty small university compared to the university of Groningen. It seems more like a high school building. But that was nice for us, because you re very quickly used to the building. This university is located very close to the beach of Porto. So if the weather is nice and you don t have classes in the afternoon you can go straight out of school to the beach! The start of the semester was in the second week of September, this was at the 8 th of September. We first started with an introduction week in the first week of September and straight after that, our lessons started. The end was in de beginning of January. This depends on the dates of your final exams. My latest exam was on the 6 th of January and I had no resits. The resits are and the middle/end of January. I decided to go a bit earlier than needed for the lessons. In this way I could discover the city already and meet the people over there. This was a very good idea. I decided beforehand to take a buddy over there which was very useful. They are very friendly and want to help you with everything. Some of them even pick you up from the airport. And besides their helpfulness, they are also your party friends and let you know what are the best places to go out. Contact with home faculty and preparation The university of Groningen helps you very well in the preparation of your study abroad. During my stay in Porto I had almost no contact with the home faculty because I had no problems in Porto. Things you have to prepare before you leave are the Learning Agreements with the courses, insurances and grants (OV card, Erasmus grant). And if you want to you can also already arrange your accommodation over there. Residence abroad Arrangements visa / residence permit This was not needed for Porto. Arrival and departure dates I arrived on the 24 th of August. And my departure was on the 25 th of January. As I said, I wanted to be there a week before I had to go to school. And also after the final exams I stayed some weeks longer to enjoy this amazing Erasmus life a bit longer. 3

4 Accommodation Beforehand I arranged my accommodation via erasmusu.com. This is a very easy and good way to find a good accommodation. I didn t know Porto already so I just took a map I discovered a bit where the centre was. It became clear that the university was not so close to the city centre. So I had to choose where to live, close to the university or close to the city centre. I wanted to live in the city centre and for me that was a good choice. Porto has a great nightlife. And if you want to enjoy this, it s very useful to live in the city centre. But I had to take the bus to school and this took me 40 minutes. So you need to take that into account. If you want to live close to school, you have to look in the neighbourhood Foz. This is also close to the beach of Porto. And if you want to life in the city centre you should look at the places Aliados, Santa Catarina or Cedofeita. These places are right in the centre of Porto. Reception and introduction The introduction week was very nice. It s a very nice way the get to know the other people. We did very nice activities like a boat tour through the Douro river and surfing lessons. Below I have the schedule of the introduction week. 4

5 Student life, culture and leisure The student life is amazing in Porto. It s very nice to mix all different kind of cultures together in an Erasmus group. The city Porto has a lot to offer. Nice nightlife, a nice beach and a beautiful city centre. But of course the people are the most important factor of success. We were just one group of Erasmus students hanging out together all the time. In our leisure time we made trips to for example the Algarve (the south of Portugal) or Lisbon. Besides that, we made a lot of parties and went out together. For example we went weekly to Adega (picture right). This is a place with some bars but everyone is standing outside. This is the place you go before you will go to a club. The clubs were also very good. And an example of a trip I made was to the Cies Islands which was amazing! I did this with an organization called Pawpal. You can look for this organization on facebook. It seemed like paradise as you can see in this picture on the left. We went there for one day and walked across the islands and in the afternoon we relaxed at the beach. Language The language used at the university is English. It was also possible to take Portuguese language courses if you would like to learn the native language. Grant - Amount The Erasmus grant was 1000,- in total, of which you receive 700,- beforehand and 300,- after your period abroad. You will receive this approximately after one month after your application. Besides that grant, I received 90,- per month as a compensation for my OV card. Expenses abroad My apartment was 295 euro per month. And this was a pretty nice apartment in the city centre. The average price for a room is 250 euro. Food in the supermarket is more or less the same as in the Netherlands but if you are having a diner at a restaurant it s cheaper than the Netherlands. 5

6 It s also useful to have an Andante card for travelling in the city. This was 27 euro per month and then you can travel unlimited in de city area, to school and to the beach. The rest of the expenses you can decide it yourself. It s a very nice opportunity when your studying abroad, to travel a bit in the country. Also, you probably want to do some touristic things so keep in mind that your expenses will probably be higher than in your home country. Study (general) Introduction Studying in Porto was quite different from the Netherlands. The school itself is smaller and you spend more time at school. Many lectures are mandatory and take 3 hours. Besides that you will have workshops of every course. They expect you to prepare every workshop because you can get a surprise test. Or you will have to present during the workshop. Also the courses I could choose of, were all economical and in the Netherlands I studied Business Administration. So this was quite different than I was used to. Especially in the beginning they went pretty fast trough the subjects but if you pay attention during the classes it was not that difficult to keep up. At school there is a canteen where you can get warm meals, toast, coffee, snacks etc. Dates of beginning and end of lecture series and examination period The courses started at the 8th of October till the Christmas holidays after that we only had the final exams that were in the beginning of January. The last one was at the 6th of January. Between the final exams, there were also 2 test weeks with intermediate tests. Every course had an continuous assessment and a final exam. This continuous assessment could for example consist of 2 mini tests, or presentations. Remarks on the organization of the study program There was not so much space to study. Like in Groningen, we have a big library. But in Porto this was not so present. And as I said before, the courses did not fit so well to my program in Groningen because they were more economical. But besides that I cannot make a lot of remarks on the study program. It was very well organized. Level of education The level of education is pretty similar to Groningen. It s probably a bit easier. If you are studying an economical study already you will face no problems. Otherwise it s also doable as I made I too with not so many problems. The level is not very high, but more thing are mandatory so it s more intensive. The professors speak very well English so I guess that s nice to know. The lectures are very easy to follow. Study facilities/ International Office abroad The international Office was at school and very easily reachable. If you have any problems you can just go there and they will do their best to help you. 6

7 Subjects taken I took the courses Development Economics, Labor Economics, Economics and Public Policy, Managerial Economics and Marketing Management. As you can see it was all economical, besides marketing. You probably already had this courses before. And if so, you will face no problems since they only discuss the basics of it. And if you already study economics, the rest is also doable. It was not needed to buy books for these courses. The parts of the books that you needed, were available online on blackboard so you could print this yourself. 7

8 SPECIFIC REPORT Here, I will give you an overview of the courses I took in Porto. Managerial Economics - 6 EC s content In this course, we study the contributions that economic theory makes to the understanding of business organizations. Our topics include business behavior in areas such as production decisions (what to produce? how much to produce?), pricing (how much to charge? how to charge?) and incentive schemes (how much to pay? how to pay?), and also the characterization and analysis of the competitive environment. Understanding these issues is relevant both for managers, as a basis for decision making, and for other students of the business reality, such as consultants, economic journalists, etc. Although not strictly indispensable, previous knowledge of principles of economics and basic calculus is advisable. This course consist of a final exam (40%) and a continuous assessment (60%). The continuous evaluation mark is composed of two elements: - Problem solving (40%) you get one point, up to a maximum of twenty, for each problem you volunteer to present in the workshops; however, if you volunteer and then show unable to present the problem, you loose 5 points; - Mini tests (60%) three forty-five minutes long tests; only the best two marks will count. Schedule 8

9 Literature The course s main textbook is: - Mata, José, 2012, Economia da Empresa 7th ed., Fundação Calouste Gulbenkian. An excellent alternative in English is: - Baye, Michael R. and Jeff Prince, 2013, Managerial Economics and Business Strategy, 8th ed., McGraw-Hill. (this was not mandatory for the exams, the slides were enough) Relevance to Groningen study program As I said, this was very economical which I didn t take in before Groningen. But still it was doable. Study load As you can see there are a lot of lectures and mini tests. You also have to prepare for every workshop. That will take approximately 3-4 hours a week. But if you maintain is well, you don t need to study so much for the tests/exams. 9

10 Labor economics - 6 EC s Content The course of Labor Economics discusses how the economic theory seeks to answer questions concerning: - How the labor market works; - Labor supply and demand; - Hiring and dismissal policies; - Education and training; - Compensation, incentive systems and motivation. This course consist of a final exam (40%) and a continuous assessment (60%). Continuous assessment includes two tests and solving suggested exercises during workshops. There will be two intermediate tests, during weeks 5 and 9. To compute the continuous assessment grade, the worst grade obtained in the intermediate tests will be dropped. The classification in the intermediate test that prevails contributes with a balance of 50% for the grade of the continuous assessment. Five exercises will be presented in five different workshops, two of which will be randomly selected to be graded. The workshops in which the exercises will take place will not be previously annouced. Schedule 10

11 Literature - Borjas, George J. (2008), Labor Economics, 4th ed. McGraw-Hill. - Ehrenberg, R and R. Smith (2005), Modern Labor Economics: Theory and Public Policy, 9th ed. Reading, MA: Addison-Wesley. - Lazear, Edward P. (1998), Personnel Economics for Managers, John Wiley & Sons, New York. For this course, the necessary chapters of the books were published online on blackboard. Also the slides were very useful. Not needed to buy the books. Relevance to Groningen study program Also this one was economical, but doable. Study load It was needed to prepare for every workshop. This took 2 hours per week. But if you do this well, you don t need to study that much for the tests. 11

12 Economics and public policy 6 EC s Content The main objective of the course is to stimulate the student's interest in understanding the role of the Government. We will begin with an overview of the market failures and the need for Government intervention and afterwards we will debate Government failures, the problems of democracy and collective action. Throughout the all course we will promote active debate and reflection about the Portuguese economy, as a member of EU and of the Monetary Union. Our central concern is the competitiveness and growth of the Portuguese economy (obstacles oportunities and future policy directions). Several applications to the Portuguese economy will be made, focusing on the role of the State in Portugal and on the need for structural reforms. This course consist of a final exam (40%) and a continuous assessment (60%). Continuous assessment includes two tests and solving suggested exercises during workshops. There will be two intermediate tests, during weeks 5 and 9. To compute the continuous assessment grade, the worst grade obtained in the intermediate tests will be dropped. The classification in the intermediate test that prevails contributes with a balance of 50% for the grade of the continuous assessment. Five exercises will be presented in five different workshops, two of which will be randomly selected to be graded. The workshops in which the exercises will take place will not be previously annouced. Schedule 12

13 Literature - Cadilhe, Miguel (2005), O Sobrepeso do Estado em Portugal Uma Proposta de Reforma Conceitual e Administrativa, Fubu Editores, Porto - Cadilhe, Miguel (2013), O Sobrepeso do Estado em Portugal, Arkheion - European Commission (2002), Guide to cost-benefit analysis of investment projects, Evaluation Unit, DG Regional Policy - OECD (2013), Interconnected Economies: Benefiting from Global Value Chains (Preliminary version), OECD Publishing - Stiglitz, J. (2000), Economics of the Public Sector, Third Edition, Norton - UNCTAD(2013), "World Investment Report Global Value Chains: Implications for Developing Countries and Trade Policy, Geneva - Weimer, David L. e Aidan R. Vining (1998), Policy Analysis: Concepts and Practice, 3rd Ed., Prentice Hall Also for this course, the necessary chapters of the books were published online on blackboard. Also the slides were very useful. Not needed to buy the books. Relevance to Groningen study program Also this one was economical, but doable. Study load It was needed to prepare for every workshop. This took 2 hours per week. But if you do this well, you don t need to study that much for the tests. 13

14 Development economics 6 EC s Content The study of Development Economics. Measures of development, poverty, and inequality. Structural change. Development theories. Growth theories. Inequality and Growth: Theory and evidence. Market, Government, and Other Institutions. Financing Development. At the end of the course students should be able to understand the core concepts and theories concerning Development. This course consist of a final exam (40%) and a continuous assessment (60%). Continuous assessment has the following elements: - Class attendance and participation (10%). Students are required to attend a minimum of 75% of thelectures and Workshops. Below the minimum, the grade in in this element would be zero. Equal to or above the minimum the grade in this element would be Two mini tests and a group written essay (90%). Of the three grades, only the two higher will be considered. Concerning the written essay, groups must have three elements or less. Schedule 14

15 Literature - Thirlwall, Anthony P. (2011), Economics of Development: Theory and Evidence, Ninth Edition. Sen, Amartya K. (1999), Development as Freedom, Oxford: Oxford University Press This book was also available online on blackboard. Relevance to Groningen study program Also this one was economical, but doable. Study load Not so much study load since all the test were open book. And you didn t need to prepare for the workshops. 15

16 Marketing Management 6 EC s Content This course provides an overview of the marketing function, emphasizing marketing concepts and terminology. Marketing includes activities like analysis, planning, implementation and control of the actions that lead to value creation by means of the satisfaction of organization and market needs. This course has four primary goals: (i) to identify and evaluate the fundamental concepts and theories of marketing; (ii) to develop a critical understanding of the role of marketing in a firm's overall strategy; (iii) to examine how society affects marketing and how marketing can impact society; (iv) and to illustrate how marketing concepts and theories may be applied in the business world. By the end of the course, students must be aware of the importance of marketing, its role in society, and of the tools that marketing provides in order to create value for the organization and the marketplace. 1 global test 40% - (in January) & Continuous assessment 60% Continuous assessment: - Participation in classes and attendance 10%. In order to asses participation students must be present in classes, both in workshops and lectures. - Case Studies 20%. Case Studies provided by the faculty, that should be previously prepared and presented in group during workshop classes. The date due depends on the case study and the theoretical subject that it comprises. The best 3 grades among the case studies presented will be chosen. - Marketing Plan - 45%. This is an assignment that should be accomplished through the whole semester. The assignment will be presented to colleagues in class during the last week of classes. The marketing plan will also be partially presented during the semester (two partial presentations in weeks 6 and 10). Each group should be formed by 4 elements (and never more than 4). - Mini Test 25% (week 9) 16

17 Schedule Literature Kotler, P., et al. (2009), Marketing Management, 1 st European Ed., Pearson Prentice Hall, Essex. Texts and case studies subsquently distributed. Only the slides were needed for the tests. Relevance to Groningen study program This was not so economical and probably you already had some courses in marketing before. So this one was very doable. Study load You have to prepare a lot presentations (almost every week). This takes the most time for this course. Like 4 hours per week. 17