Economists Do It With Models

Warning: “graphic” content…

Bookmark and Share
Videos: More Than You Ever Wanted To Know About Elasticity…

March 10th, 2010 · 10 Comments
Econ 101 · Videos

I suppose an alternate title could be “A Lesson on Elasticity in Four Parts.” Elasticity is an important concept, since it’s used extensively throughout both microeconomics and macroeconomics, so I guess you can’t learn too much about it, right?

The first video introduces the concept of price elasticity of demand and shows how it’s calculated (hint: it’s NOT just the slope of the demand curve).

The second video continues on and gives some general rules about price elasticity of demand.

The third video compares two methods of calculating elasticity.

The fourth video briefly introduces other elasticities, such as price elasticity of supply, income elasticity of demand and cross-price elasticity.

See, you would think that this would complete the discussion on elasticity. But no, I have one more video coming on an application of elasticity. And also a funny one that I found while posting these, so stay tuned…

See here for the Micro 101 videos page, or here for econgirl’s YouTube channel.

Tags: Econ 101 · Videos

10 responses so far ↓

  • 1 Michael L. // Mar 10, 2010 at 4:30 pm

    Wow so’s it’s used extensively in microeconomics twice?! That’s crazy and crazy!

  • 2 econgirl // Mar 10, 2010 at 5:04 pm


    I am convinced that that was my subconscious trying to pretend that there is no such thing as macroeconomics.

  • 3 Michael L. // Mar 11, 2010 at 1:27 am

    Or as Yoram says “blah blah blah.”

  • 4 Michael L. // Mar 11, 2010 at 1:32 am

    BTW have you thought of doing macroeconomic videos? Maybe even some intermediate stuff of both aka indifference curves/ consumer choice.

    Also, what about some calculus thrown in? I find it really helps to explain marginal costs/benefits since it’s essentially a derivative of total costs and benefits.

  • 5 Sklep Internetowy Mustang // Dec 7, 2011 at 6:34 am

    I wanted to write you that tiny note to be able to say thank you as before relating to the fantastic tips you have discussed on this page. It’s so unbelievably generous with you to grant freely what exactly many of us might have distributed for an e-book to help with making some profit on their own, primarily considering the fact that you might well have tried it if you ever decided. These pointers also served to become a easy way to be certain that some people have the identical dream just like my very own to figure out a lot more in respect of this problem. I know there are thousands of more pleasant moments up front for those who read your blog.

  • 6 Nineteen Nike // Jun 30, 2012 at 6:12 am

    where’d nice am jealous 😉 would you rent me ad space for monthly fee ?

  • 7 skin cancer pictures // Sep 5, 2014 at 9:00 pm

    I know this if off topic but I’m looking into starting
    my own weblog and was curious what all is needed to get setup?
    I’m assuming having a blog like yours would cost a pretty penny?
    I’m not very web savvy so I’m not 100% sure. Any recommendations or advice would be greatly appreciated.
    Many thanks

  • 8 biking calories per hour // Oct 1, 2014 at 6:36 am

    I do consider all of the ideas you’ve offered on your post.
    They’re very convincing and can definitely work.
    Nonetheless, the posts are very brief for newbies. May just you please lengthen them a little from next time?
    Thanks for the post.

  • 9 funny clips // Dec 22, 2014 at 3:16 pm

    It’s not my first time to go to see this website, i am visiting this
    web page dailly and obtain fastidious data from here daily.

  • 10 free classifieds free labeled ads free advertisements free classified advertisements in china free labeled advertisements sites free websites to post ads free advertisements publishing global free labeled ads website for free advertisements local classifi // Oct 12, 2016 at 8:36 am

    Universal Free Classified Ads

Leave a Comment