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Aggregate Supply and Demand

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Aggregate Supply and Demand
  • Description
  • Outcome
  • Certification
  • Aggregate supply and demand are key concepts in macroeconomics as they help economists interpret events in the past to help predict the future. The aggregate supply curve model demonstrates the relationship between the overall price level of a country and the quantity of goods and services produced by the suppliers of that country, whereas the aggregate demand curve model demonstrates the quantity of goods and services produced domestically that consumers, businesses, the government and foreigners are willing to purchase during a particular period of time. This free online economics course first introduces the learner to the business cycle to show that the local economy is constantly expanding and contracting in response to changes in the global economy, technology and national and international politics. The course then introduces the concept of aggregate demand, how it shifts and how it is modelled. You will also learn about aggregate supply, and how changes in supply can be slower than changes in demand. This free online economics course will be of great interest to professionals in the areas of economics, finance, and business who would like to learn more about modelling aggregate supply and demand. It will also appeal to all learners interested in business, economics or political studies who would like to understand why the health of the economy is cyclical and why one event can have a significant effect on an economy.

  • Learning outcomes:
    - Learn all in supply and demand in the market affect the economy as a whole;
    - Understand the difference between short run and long run supply;
    - Understand how economic models are compiled;
    - Learn how perceived wealth can affect our economy;
    - Understand how economic models can be used to indicate possible outcomes in the economy;

  • All Alison courses are free to study. To successfully complete a course you must score 80% or higher in each course assessments. Upon successful completion of a course, you can choose to make your achievement formal by purchasing an official Alison Diploma, Certificate or PDF.

    Having an official Alison document is a great way to share your success. Plus it’s:

    • Ideal for including in CVs, job applications and portfolios
    • An indication of your ability to learn and achieve high results
    • An incentive to continue to empower yourself through learning
    • A tangible way of supporting the Alison mission to empower people everywhere through education.

Modules List( 2 )
  • UNDERSTANDING AGGREGATE SUPPLY AND DEMAND
  • Module 1: Understanding Aggregate Supply and Demand
    • The Business Cycle
    • Aggregate Demand
    • Shifts in Aggregate Demand
    • Long-Run Aggregate Supply
    • Short Run Aggregate Supply
    • Demand-Pull Inflation under Johnson
    • Real GDP driving Price
    • Cost Push Inflation
  • END OF COURSE ASSESSMENT
  • Module 2: Aggregate Supply and Demand Assessment
    • Understanding Aggregate Supply and Demand - assessment
Topics List ( 1 )
Module 2: Aggregate Supply and Demand Assessment
You must score 80% or more to pass this assessment.
Course Features
  • Duration

    1-2 Hours

  • Publisher

    Khan Academy

  • Video

    Yes

  • Audio

    Yes

  • Assessment

    Yes

  • Certification

    Yes

  • Price

    Free

  • Reward

    50 Pts

  • Responsive

    No

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