Market equilibrium

Learning Objectives: Apply basic comparative statics to a range of economic events. Understand how interventions affect market activity

This video shows how demand and supply both originate from the concept of value.

My preferred way of teaching this content is the trading simulation called “Trading in a Pit Market”.

Group activity:

Lecture handout: Market equilibrium*

This video shows how prices are formed at the London Metal Exchange:

And this video shows a behind the scenes look at “the ring”:

Another good class activity to teach these concepts is the following worksheet:

Group activity:  Comparative Statics Worksheet, July 2018
Instructor resource: Comparative Statics Solutions, July 2018

Here’s a look at applying some comparative statics to the UK housing market:

Here’s a more traditional treatment of demand and supply analysis:

Here’s an excellent video on the role of prices:

Here’s a video on rent control:

A good resource on price gouging is Mike Munger’s interview with Russ Roberts, on EconTalk (Jan 8th, 2007).

These resources form part of my Managerial Economics course map. You can watch the full YouTube playlist here. This page ties into Chapter 3 of ‘Economics: A Complete Guide for Business‘.
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