25
Jun

Supply and Demand on the go – for techie economists!

Written on June 25, 2012 by Dirk Hopfl in IE News

The IE Multimedia Content Development team (Learning Innovation) has launched an iPhone App for understanding and applying the Supply and Demand Model (Economics).Click here to see the app.

If you are interested in downloading the app it is available on iTunes:
http://bit.ly/zSrZX5

The purpose of this interactive app is to help students to understand the effects of changes in the variables of supply and demand in a microeconomic market, assuming perfect competition. The app is made for iPhone (iOS 5.0 or later).

With this app students can interact with both curves and see the equilibrium process in terms of price and quantity exchanged. The program assumes that students are familiar with the underlying concepts of a graph that shows a market in a state of perfect competition.

There are also simple exercises that enable students to test their understanding of how the market works and check their answers by interacting with the graph and receiving feedback.

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