Search results for: 'Supply and demand model'
Case Study: Cost Theory and Market Structures EC1-137-I
This case presents students with exercises to put into practice economic concepts such as market structures, elasticity, supply and demand curves. Students are asked to calculate cost and revenues values, and then use these values to construct market structure models. It is a useful case to use in introductory economics courses because of its practical nature.Academic Area:Economic Environment & Public Affairs
World Oil Prices EC1-115-I-M
This case is designed to introduce students to the basic tools of supply and demand and to observe and predict how they operate in a real market that is constantly grabbing headlines: the global petroleum market. The analysis of this interactive multimedia case is based around those events that have affected the price of oil from 1970 to 2013.
Students will be presented with a series of historical events that affected the price of oil on the world market. They study each of these and then predict the effects on price by shifting the curves on the traditional supply and demand model.
The World Oil Prices interactive exercise has been used successfully across a range of masters programs, from Masters in Management through to MBA and executive programs. The material would be suitable for both undergraduate and postgraduate economics courses, once the initial supply and demand theory has been grasped.Academic Area:Economic Environment & Public Affairs
Interactive graph of the aggregate supply and demand … EC2-027-I-M
The purpose of this interactive material is to enable students to learn and comprehend the cause-effect relationship in the full aggregate demand and supply (AD/AS) model and to observe the adjustment of the economy in the short and the long term. The program assumes that students are already familiar with the underlying concepts of the graphic representation of the AD/AS model.
The tool also includes a number of simple case studies that illustrate the capacity and limits of the model and explain certain real economic situations.Academic Area:Economic Environment & Public Affairs