Interview Documentation

Click http://fpwww.ph.vccs.edu/eco/interview_documentation.htm

1 Resume
2 Employment Letter
3 Philosophy of Teaching ("Love for Econ Springs Eternal!")
4 Nine Ways I use My Technical Training in My Teaching
5 Question & Answer
6 References
7 Meet the Instructor
8 Instructor homepage

 

 

Teaching Presentation

The Austin Community College teaching topic is this:


"(1) Teach us the difference between shifts in the demand curve (or supply curve) and moments along the demand curve (or supply curve) and


(2)  explain what forces might cause shifts in vs. movements along the demand curve (or supply curve). Then, if time permits, show such a shift in a market initially in equilibrium and explain the process of how a new equilibrium would be established."

 

 

 Introduction

Welcome to Participative Economics!

Role play with me.

You are student council members each representing 1,000 students at Austin CC.  

Quickly choose a single destination for an all expense Spring Break field trip for you and your classmates from among the following 3 choices for students or family members willing and able to pay:



1.  The Snow Ski Package!    Ramshorn Run on Vail Mountain

Denver, Colorado with ski trip to Breckenridge (Includes round trip single person airfare, lodging, food, bus travel, and ski lift ticket if desired)

 

 

2. The Walt Disney theme park holiday!  

Disney Land in Orlando, Florida (Includes round trip single person airfare, lodging, food, and entry ticket)
 


3.  The Cancun, Mexico Beach and Sun Bath
Cancun Beach Recovery  (Includes round trip single person airfare, lodging, food, and sun on the beach!)

 

 Boardwork

Nice choice !  Now join your instructor at the Whiteboard to
... discover the famous law of demand,
... distinguish "Quantity Demanded" from "Demand," 
... identify  factors influencing "Quantity Demanded" and "Demand,"
... and discuss why markets return to equilibrium.

Quick Summary #1

 1 - Lowered prices result in increases in quantity demanded.
 2 - Raised prices result in decreases in quantity demanded.

 

Other influences upon demand include:
- 1 - Prices of related goods (either substitutes or complements)
- 2 - Income
- 3 - Tastes
- 4 - Expectations (about future prices, incomes, and events).

When any of these other influences change, demand increases (or decreases).

 More Boardwork

See why prices and quantities converge on a single equilibrium price and quantity.

 Quick Summary #2

At prices higher than equilibrium, surpluses make suppliers unhappy.  Discontented, they lower the price until there are no longer any unhappy sellers.

At prices lower than equilibrium, shortages make buyers unhappy.  Discontented, they raise price until there are no longer any unhappy buyers.

At equilibrium, price stops vacillating because happy and satisfied people do not cause prices to change!

 

 Visual Summary Slide Show:  

Click http://dl.ph.vccs.edu:8080/tmeyer/eco201/ch04/ch04lecture.ppt  
Use slides beginning at 9.4.1 regarding Demand;
Use slides beginning at 32.4.3 regarding Equilibrium.

Thanks !!  

Thank you for participating...
- in the discovery of the law of demand,
- learning to distinguish "Quantity Demanded" from "Demand,"
- identifying factors influencing
    "Quantity Demanded" (higher or lower prices)
    and "Demand"  (tastes, incomes, prices of substitutes
                            and complements, and expectations),
             and
- for discussing why markets return to equilibrium!

Thank you for inviting me to Austin Community College!  - Tom Meyer

 

 

" Love for Econ Springs Eternal ! "

http://fpwww.ph.vccs.edu/eco/interview_documentation.htm