Saturday, April 14, 2012

Supply and Demand

To really understand how the world economy works, it's worth investing some time to learn a few basic economic models. Supply and Demand models explain the market for a particular good, in particular place, at a particular time.

1. There are several free videos from the Khan academy explaining the model in some detail.
Law of Demand
Law of Supply
Market Equilibrium
Factors Affecting Supply
Price of Related Products and Demand
Changes in Income, Population, or Preferences
Changes in Market Equilibrium

2. Jodi Beggs from "Economists do it with Models" also has free videos on these topics. Lessons 3, 4, & 5 cover demand, supply, and market equilibrium.

3. Flat World Knowledge has free online textbooks.
Chapter 3 of Rittenberg and Tregarthen covers supply and demand.

Friday, March 23, 2012

Economics for Global Travelers

This blog will serve as the homepage for my new course: Economics for Global Travelers. This class is a sophomore seminar, part of Kalamazoo College's Shared Passages seminar program. It is open only to sophomores and designed primarily for those planning to study abroad during their Junior year. (Others, of course, are welcome to follow online.)