Supply and Demand in Action

About the lecture

In this module, we apply what we have learnt in the previous modules to a real world example. In particular, we focus on: (i) the market of taxi-cabs; (ii) consider an example of a fixed price market and how this looks graphically when the curve shifts; and (iii) consider an example of a variable price market and how this looks graphically when the curve shifts.

About the lecturer

Patrick Gaule is an Associate Professor in Economics at the University of Bristol. He specialises in research that seeks to understand how we can scale up and accelerate science and innovation. With this in mind, he has published widely, including ‘Invisible Geniuses: Could the Knowledge Frontier Advance Faster?’ (American Economic Review: Insights. 2020) and ‘Chinese Graduate Students and U.S. Scientific Productivity’ (Review of Economics and Statistics, 2013).