Unit 3
Demand
Reading
Read Ch. 3 "Value and Demand"
Topics
The law of demand
Demand schedules & curves
What causes changes in demand?
The function of prices
Normal, Inferior, and Complementary goods
Labs
Read Ch. 3 "Value and Demand"
Topics
The law of demand
Demand schedules & curves
What causes changes in demand?
The function of prices
Normal, Inferior, and Complementary goods
Labs
- "Widgets and Whajamas" - to illustrate the Production Possibilities Curve or Frontier
- "Risk and Reward Game" - a classroom simulation in stock & bond portfolio allocation
Artisanal Firewood: Be prepared to discuss this video using the principles of economics we've covered so far.
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Homework (refer to class emails for due dates)
Lecture slides
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