Macroeconomics: Supply and Demand

The students are expected to follow along with the lesson and information presented about trading concepts (including absolute and comparative advantage). Next, the students will learn how to calculate terms of trade that benefit both sides and after looking at an example, they will go into the code and complete a program that sets variables to correct opportunity costs and answer questions about reasonable terms of trade. Then, the short lesson about the supply and demand curves, why they are positively/negatively sloped, and how to determine equilibrium, quantity and price given the graph. There is then an activity where students must program parts of the graph (supply line, demand line, equilibrium) to respond to key presses and move accordingly, then they will be given scenarios and have to determine how the S/D and equilibrium values are changed.

Credit: Crystal