Economics: Market Forces of Demand, Supply and Equilibrium from Udemy

Why Learn About Market Forces in Economics?

In today's fast-paced digital world, understanding the dynamics of economics, particularly market forces, is more crucial than ever. Markets shift rapidly, and staying ahead requires quick, informed decisions. Our course on "Market Forces of Demand, Supply, and Equilibrium" delves deep into the core of how economic changes impact consumer and producer behavior. It's essential to grasp these fundamental concepts to analyze and predict market trends effectively.

Course Design: Simplifying Complex Economic Concepts

This course is meticulously structured to simplify complex economic theories, focusing on key areas like market competition, demand, supply, and market equilibrium. We use real-world case studies, practical tips, and clear illustrations to demonstrate how these forces interact in various industries worldwide. You'll learn how market prices are established and adjusted, ensuring efficient resource allocation.

Course Structure: Engaging and Interactive Learning

The course is divided into 8 comprehensive sections, each breaking down intricate economics concepts into manageable chunks. We've tailored video lengths to optimize engagement, aligning with learning psychology and attention spans. Regular quizzes reinforce your understanding, paving the way to successfully complete the final assignment for certification.

Our Goal: Making Economics Accessible to All

We aim to make learning economics straightforward and enjoyable, regardless of your background. Our approach is to simplify complex theories, enabling quick and easy comprehension.

Incorporating Diverse Learning Styles

We cater to various learning preferences:

Visual Learning: Engaging videos and informative graphs.
Audio Learning: High-quality narrations complement our visual materials.
Reading & Writing: Comprehensive downloadable articles, presentations, and case studies.

Evrim Kanbur, your course instructor, is not only academically accomplished with a degree in Economics and a master's in Finance, Banking, and Risk Management but also brings a wealth of practical experience from a global perspective. Her diverse professional journey includes auditing at Deloitte, Business Development Management at Riot Games, and entrepreneurship in China's dynamic market. This unique blend of roles has given her a profound understanding of the global and local business landscapes, making her adept at navigating the complexities of glocal economics.

Evrim's expertise extends to her work as an educator and consultant. She has taught economics and business in international settings and contributed significantly to prestigious institutions like Alibaba Business School and Taobao Education. Evrim has also shared her knowledge as an Adjunct Faculty Lecturer at several renowned universities such as Shanghai Jiatong University EBA Program, Skema Business School and Singapore Social Sciences University. Her insights are particularly valuable for understanding how market forces operate in different economic environments.

Join Evrim on this journey to unravel the intricacies of market forces in economics, and gain insights into navigating the global and local (glocal) business contexts, a skill crucial for today's interconnected economic landscape.

What's inside

Learning objectives

You will have a strong foundation in demand.
You will have a strong foundation in supply.
You will gain a strong understanding of how equilibrium functions in various situations.

You will be able to analyze changes in market forces within specific markets.
You will learn about real life case studies from various industries operating in different parts of the world.
You will be equipped with practical business skills through implementing the framework of market changes analysis.

You will have a strong foundation in demand.
You will have a strong foundation in supply.
You will gain a strong understanding of how equilibrium functions in various situations.
You will be able to analyze changes in market forces within specific markets.
You will learn about real life case studies from various industries operating in different parts of the world.
You will be equipped with practical business skills through implementing the framework of market changes analysis.

Syllabus

In this section we explore market dynamics in the 'Market Forces Course', covering market structures, competition, real-world examples, and interactive learning.

Welcome to the Market Forces Course

Introduction - Markets & Competition

Participants will master Quantity Demanded, Law of Demand, and demand dynamics, adeptly analyzing demand curves and shifts, applying insights to real-world cases.

Quantity Demanded & Law of Demand

Demand Schedule and Demand Curve

Individual Demand & Market Demand

Movement along the curve

Shift in a demand curve and Factors of a shift

CASE STUDY : "How to reduce obesity in the society?"

This quiz has 15 questions.
First 10 questions are about choosing the right answer to fill in the blanks and to answer a direct question.

Last 5 questions are case study questions related with what happens in a given market whether it’s a ‘movement along the curve’ or a ‘shift’ and the reasoning behind it. These questions may require you to take notes and evaluate the changes on a graph to find the right answer.

There are two close choices in each of these questions. One is the right answer and the other one serves as a trap. If you fall into the trap, we highly suggest you to revisit the concepts when you get a chance and if you have any questions, please consider asking us in the Q&A. We’re always here for you.

In order to complete this course fully and to receive the course completion certificate, these questions need to be completed fully.

Good luck, you got this!

Participants will master Quantity Supplied, Law of Supply, and supply dynamics, adeptly analyzing supply curves and shifts, applying insights to real-world cases.

Quantity Supplied and Law of Supply

Supply Schedule and Supply Curve

Individual Supply and Market Supply

Shift in a Supply curve and factors of a shift

CASE STUDY: "Shopping malls in Shanghai"

This quiz has 15 questions.
First 8 questions are about choosing the right answer to fill in the blanks and to answer a direct question.

Last 7 questions are case study questions related with what happens in a given market whether it’s a ‘movement along the curve’ or a ‘shift’ and the reasoning behind it. These questions may require you to take notes and evaluate the changes on a graph to find the right answer.

There are two close choices in each of these questions. One is the right answer and one serves as a trap. If you fall into the trap, we highly suggest you to revisit the concepts when you get a chance and if you have any questions, please consider asking us in the Q&A. We’re always here for you.

In order to complete this course fully and to receive the course completion certificate, these questions need to be completed fully.

Good luck, you got this!

Participants will gain expertise in Equilibrium Price, Quantity, Surplus, Shortage, Price Gouging, and adeptly apply these concepts to real-world economic situations.

Equilibrium Price and Equilibrium Quantity

Surplus & Shortage

Price Gouging

CHINA MARKET Case Study: " Bike sharing in China"

This quiz has 15 questions.
First 9 questions are about choosing the right answer to fill in the blanks and to answer a direct question.

Last 6 questions are case study questions related with what happens in a given market whether it’s a ‘movement along the curve’ or a ‘shift’ and the reasoning behind it. These questions may require you to take notes and evaluate the changes on a graph to find the right answer.

There are two close choices in each of these questions. One is the right answer and one serves as a trap. If you fall into the trap, we highly suggest you to revisit the concepts when you get a chance. Especially starting from question 10, you can see the explanations of the right answers. If you have any questions, please consider asking us in the Q&A section. We’re always here for you.

In order to receive the course completion certificate, these questions need to be completed fully.
Good luck, you got this!

Case Studies

Download the Practice Deck - Case Study Questions and Analysis

INDIA MARKET Case Study: "Indian Bamboo Crash Barriers"

US MARKET Case Study: " The egg market in the US"

PUERTO RICO MARKET Case Study: "Regenerative Agriculture and the Coffee Market"

Download the Answer Deck

This quiz has 10 questions. There are two close choices in each of these questions. One is the right answer and the other one serves as a trap. If you fall into the trap, we highly suggest you to revisit the concepts when you get a chance and if you have any questions, please consider asking us in the Q&A section. We’re always here for you.

In order to complete this course fully and to receive the course completion certificate, this quiz needs to be completed fully.
Good luck, you got this!

Participants will culminate their learning in a final assignment, applying key concepts of Market Forces to five diverse real-world case studies, demonstrating comprehensive economic understanding.

Final Assignment: Case Study Questions

Congratulations section acknowledges participants' hard work and dedication in our Market Forces course, encouraging them to share their course experiences in a review for peer learning in economics.

Congratulations

Hearing from you is a gift

In the bonus section, participants receive additional economics resources and exclusive perks as a thank you for choosing our Market Forces course, aiding their continued economics journey.

Bonus

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops understanding of how equilibrium functions in various situations, which is core to economics

Taught by Evrim Kanbur, who has a wealth of practical experience from a global perspective and is an Adjunct Faculty Lecturer at renowned universities

Examines real life case studies from various industries operating in different parts of the world, which provides practical context

Builds a strong foundation for beginners in the core concepts of demand and supply

May require some background knowledge in economics

Requires extensive participation in the form of quizzes and a final assignment, which may not suit all learners

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Economics: Market Forces of Demand, Supply and Equilibrium with these activities:

Review Basic Economics Principles

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Reviewing the fundamental concepts of economics, including demand, supply, price, and equilibrium, will provide a strong foundation for understanding the course

View Economics on Amazon

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Read Chapter 1: The Basic Tools of Economic Analysis
Summarize the key economic principles

Learn Market Analysis with Case Studies

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Case studies provide valuable real-world examples of how market forces affect businesses and consumers, and will help you apply theoretical concepts

Browse courses on Case study

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Find a case study related to a market force
Read and analyze the case, identifying the market forces at play
Prepare a summary or presentation on your findings

Engage in Discussion Postings

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Active learning through discussion boards will provide diverse perspectives on economic issues, and enhance your understanding

Browse courses on Discussion

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Review the assigned readings or lecture material
Post thoughtful questions or comments in the discussion forum
Respond to your peers' postings

Five other activities

Expand to see all activities and additional details

Show all eight activities

Practice Demand and Supply Curves

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Practice demand and supply curves analysis to become familiar with the graphical representation of market mechanisms, and the relationship between prices and quantities

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Plot demand and supply curves on a graph
Calculate equilibrium price and quantity

Create Economic Concept Visuals

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Creating mind maps, infographics, or presentation slides will allow you to process the information from the lectures and readings, and reinforce your understanding

Browse courses on Economics

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Choose a specific economic concept to focus on
Research and gather information on the topic
Create a visual representation of your findings

Write Economic Analysis Report

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Developing a report will demonstrate your ability to integrate and apply market forces analysis to a specific industry or market situation

Browse courses on Economic Analysis

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Select a specific industry or market to focus on
Research and gather data to analyze demand, supply, and equilibrium
Write a comprehensive report detailing your findings

Contribute to Economic Data Repository

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By participating in the creation of a database, you will develop hands-on experience in data collection, analysis, and visualization of economic phenomena, thus deepening your understanding

Browse courses on Economics

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Identify an existing Economic Data Repository
Review the guidelines for contributing
Collect and format data according to the specified guidelines
Submit your contributions to the repository

Tutor Other Students

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Teaching others will enhance your own understanding, and reinforce the concepts you have learned

Browse courses on Tutoring

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Identify opportunities or platforms to tutor other students in economics
Prepare materials and resources to support your sessions
Conduct tutoring sessions, providing explanations and guidance
Evaluate your students' progress and adjust your approach as needed

Career center

Learners who complete Economics: Market Forces of Demand, Supply and Equilibrium will develop knowledge and skills that may be useful to these careers:

Economist

Economists study the production, distribution, and consumption of goods and services. They use their understanding of economics to analyze economic data, forecast economic trends, and develop economic policies. This course can help Economists develop a strong foundation in economics. This foundation can help them conduct better economic analysis, make more accurate economic forecasts, and develop more effective economic policies.

See salaries and explore the career path for Economist

Market Researcher

Market Researchers study consumer behavior and market trends. They use their findings to help businesses develop new products and services, improve marketing campaigns, and make better business decisions. This course can help Market Researchers develop a strong understanding of the market forces that affect consumer behavior. This understanding can help them conduct more effective market research and provide more valuable insights to their clients.

See salaries and explore the career path for Market Researcher

Commodity Trader

Commodity Traders are responsible for buying and selling raw materials, such as oil, gas, and metals. They work with producers, consumers, and other traders to ensure that commodities are delivered to the right place at the right time. This course can help Commodity Traders develop a strong understanding of the market forces that affect the prices of commodities. This understanding can help them make better trading decisions and improve their profitability.

See salaries and explore the career path for Commodity Trader

Business Analyst

Business Analysts use their understanding of business and technology to help businesses improve their performance. They analyze business processes, identify areas for improvement, and develop and implement solutions. This course can help Business Analysts develop a strong foundation in economics and business analysis. This foundation can help them make better recommendations to clients and improve their clients' bottom line.

See salaries and explore the career path for Business Analyst

Financial Analyst

Financial Analysts use their understanding of the financial markets to make investment recommendations to clients. They analyze financial data, such as company earnings and economic indicators, to identify undervalued stocks and bonds. This course can help Financial Analysts develop a strong foundation in economics and the financial markets. This foundation can help them make better investment decisions and improve their clients' returns.

See salaries and explore the career path for Financial Analyst

Data Analyst

Data Analysts use their skills in data analysis to help businesses make better decisions. They collect, clean, and analyze data to identify trends and patterns. This course can help Data Analysts develop a strong foundation in economics and data analysis. This foundation can help them conduct better data analysis and provide more valuable insights to their clients.

See salaries and explore the career path for Data Analyst

Management Consultant

Management Consultants help businesses improve their performance. They analyze a business's operations, identify areas for improvement, and develop and implement solutions. This course can help Management Consultants develop a strong understanding of the market forces that affect businesses. This understanding can help them make better recommendations to clients and improve their clients' bottom line.

See salaries and explore the career path for Management Consultant

Quantitative Analyst

Quantitative Analysts use their skills in mathematics and statistics to analyze financial data. They develop and use quantitative models to identify investment opportunities and manage risk. This course can help Quantitative Analysts develop a strong foundation in economics and quantitative analysis. This foundation can help them develop better quantitative models and make better investment decisions.

See salaries and explore the career path for Quantitative Analyst

Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns to promote products and services. They use their understanding of the market to identify target audiences, develop marketing messages, and select the most effective marketing channels. This course can help Marketing Managers develop a strong understanding of the market forces that affect consumer behavior. This understanding can help them create more effective marketing campaigns and improve their sales.

See salaries and explore the career path for Marketing Manager

Product Manager

Product Managers are responsible for developing and managing products. They work with engineers, designers, and marketers to create products that meet the needs of customers. This course can help Product Managers develop a strong understanding of the market forces that affect product demand. This understanding can help them create more successful products and improve their company's bottom line.

See salaries and explore the career path for Product Manager

Risk Manager

Risk Managers are responsible for identifying and managing risks to a business. They analyze risks, develop risk management strategies, and implement risk management controls. This course can help Risk Managers develop a strong understanding of the market forces that can affect a business's risk profile. This understanding can help them identify and manage risks more effectively and improve their business's resilience.

See salaries and explore the career path for Risk Manager

Sales Manager

Sales Managers are responsible for leading and motivating sales teams. They develop sales strategies, set sales targets, and track sales performance. This course can help Sales Managers develop a strong understanding of the market forces that affect sales. This understanding can help them create more effective sales strategies and improve their team's performance.

See salaries and explore the career path for Sales Manager

Supply Chain Manager

Supply Chain Managers are responsible for managing the flow of goods and services from suppliers to customers. They work with suppliers, manufacturers, and distributors to ensure that products are delivered to the right place at the right time. This course can help Supply Chain Managers develop a strong understanding of the market forces that affect supply and demand. This understanding can help them create more efficient supply chains and improve their company's profitability.

See salaries and explore the career path for Supply Chain Manager

Insurance Underwriter

Insurance Underwriters evaluate risk and determine insurance premiums. They analyze insurance applications, assess risk factors, and decide whether to issue insurance policies. This course can help Insurance Underwriters develop a strong understanding of the market forces that affect insurance premiums. This understanding can help them make better underwriting decisions and improve their company's profitability.

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Actuary

Actuaries use their skills in mathematics and statistics to assess risk and uncertainty. They develop and use actuarial models to calculate insurance premiums, pension benefits, and other financial risks. This course can help Actuaries develop a strong foundation in economics and actuarial science. This foundation can help them develop better actuarial models and make more accurate risk assessments.

See salaries and explore the career path for Actuary