Course Info
- 12 video lessons (78 Mins)
- Published
2015
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Preview Course
Browse Course Chapters
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1.Introduction2 mins
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2.The Law of Demand4 mins
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3.Substitutes and Subjectivity2 mins
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4.Revealed Preferences2 mins
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5.Responsiveness and Elasticity8 mins
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6.Change in Demand3 mins
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7.Non-Price Rationing and Price Ceilings12 mins
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8.The Diamond-Water Paradox and Marginal Analysis4 mins
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9.Choices Based on Opportunity Costs5 mins
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10.Sunk Costs vs. Opportunity Costs9 mins
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11.Supply-Demand Price vs. Cost Mark-Up Price11 mins
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12.Market-Clearing Price?11 mins
Course Description
"Supply and demand" is one of the most fundamental concepts of economic thinking. The familiar supply and demand curves are seemingly simple, but in reality, the relationship between supply and demand is complex. This course, the third in the "Economic Thinking for Planners" series, defines both supply and demand and explores their interactions. Once this relationship is understood, it can be used to answer many questions, such as this particularly big question: "What do markets do for us?"
Learn these skills
- Economics
AICP CM
This course is approved for 1.25 AICP CM credits.
SACPLAN CPD
This course is approved for 1.5 SACPLAN CPD point.