Evrim Kanbur – Economics: Market Forces of Demand, Supply and Equilibrium (Download)
Why do prices rise during shortages? What causes products to suddenly flood the market? How do businesses predict consumer behavior during economic shifts? These questions lie at the heart of economics, and understanding market forces is essential for anyone making business decisions, analyzing trends, or simply navigating today’s volatile economy. Whether you’re launching a startup, managing a business, or studying economics, grasping how demand, supply, and equilibrium interact gives you the analytical edge to anticipate changes and make informed decisions.
Course Overview
Economics: Market Forces of Demand, Supply and Equilibrium is taught by Evrim Kanbur, an economist with extensive global experience spanning auditing at Deloitte, business development at Riot Games, and entrepreneurship in China’s dynamic market. With academic credentials in Economics and a master’s in Finance, Banking, and Risk Management, Kanbur brings both theoretical depth and practical insights from her work as a consultant and adjunct faculty at institutions including Shanghai Jiatong University and Skema Business School.
The course takes complex economic theories and breaks them into digestible, practical lessons supported by real-world case studies from markets across the United States, China, India, Canada, and beyond. Videos are optimized for engagement, with regular quizzes reinforcing concepts and a final assignment for certification.
What You’ll Learn
This course builds strong foundational knowledge in:
- Understanding demand dynamics and the law of demand through real market examples
- Analyzing supply mechanisms and factors that shift supply curves
- Mastering market equilibrium concepts including surplus, shortage, and price adjustments
- Calculating and applying price elasticity of demand and supply
- Implementing market analysis frameworks for practical business decisions
- Evaluating economic policies including price controls, minimum wage, and rent control
- Analyzing real-world case studies from diverse industries and global markets
Course Content Breakdown
Demand Analysis
Learn quantity demanded, demand schedules, and demand curves while distinguishing between movements along curves versus shifts in demand. Case studies explore obesity reduction strategies in the US market and Chinese tourism trends.
Supply Fundamentals
Master quantity supplied, supply curves, and factors causing supply shifts. Examine Shanghai shopping malls and pandemic effects on China flight prices through practical applications.
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Market Equilibrium
Understand how equilibrium price and quantity form, analyze surplus and shortage conditions, and explore concepts like price gouging through China’s bike-sharing market case study.
Elasticity Concepts
Deep dive into price elasticity of demand and supply, including calculation methods, zones, curves, and factors. Learn income elasticity and cross-price elasticity while understanding how businesses use these metrics for revenue optimization and cost management.
Real-World Applications
Analyze multiple case studies including bike-sharing profitability in China, Indian bamboo crash barriers, US egg markets, Canada’s foreign home ownership ban, and Puerto Rico’s coffee market. Practice applying analytical frameworks through guided exercises.
Economic Policy Analysis
Examine price controls, rent control, minimum wage policies, and their market consequences through cases from New York City, Turkey, Venezuela, and France. Learn to distinguish positive versus normative economic analysis and understand why economists sometimes disagree on policy recommendations.
Who Should Take This Course
This course serves business professionals seeking analytical skills, entrepreneurs making pricing decisions, university students studying economics, and IB, IGCSE, A Level, or AP students preparing for exams. It’s equally valuable for beginners without economics backgrounds and experienced learners seeking a comprehensive refresher on market fundamentals.
