CourseHES 202

Week3 of 16

SemesterII

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This week’s topics

Supply: how sellers behave

The law of supply
The supply curve

What you will be able to do

1.1 Explain the law of supply and demand.

Activity

Draw a supply curve from a price table.

Study materials

Further resources

Principles of Economics 3e, ch. 3.1: Supply of goods and services · PDF · OpenStax (2022), the law of supply and the supply curve; pp. 50–51 · for registered students
Introduction to Business 2e, ch. 1.6: Microeconomics – businesses and consumers · PDF · OpenStax (2026), supply and demand in brief; pp. 32–37 · for registered students
An Analysis of the Labor Market for Uber's Driver-Partners in the United States · Open-access article · Hall & Krueger (2018), ILR Review. How more drivers offer rides when earnings rise: supply responding to price. · for registered students

Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.

Week 2 Week 4

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Course plan

Week 1: What is economics? Scarcity and choice
Week 2: Demand: how buyers behave
Week 3: Supply: how sellers behave
Week 4: Market equilibrium
Week 5: When demand or supply changes
Week 6: Price elasticity of demand
Week 7: Calculating elasticity
Midterm: Midterm evaluation
Week 9: Measuring the economy: GDP
Week 10: Inflation and unemployment
Week 11: Reading economic data
Week 12: Perfect competition
Week 13: Monopoly
Week 14: Markets in real life
Week 15: Review and coursework completion
Final: Final assessment and submission

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