Understanding Elasticities

About this Program

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This program covers the basics of (and extension topics related to) understanding elasticities in economics. 

The material covered is suitable for many first-year (university level) microeconomics units.

The paid version of the course gives you access to:
i. Ad-free versions of the lectures
ii. Additional practice questions and answers
iii. Downloadable lecture notes; and
iv. Detailed written notes.

About

Notes

This set of materials includes instruction in:
  • Interpreting the meaning of elasticities;
  • Understanding the various algebraic representations of elasticities and their derivation;
  • Understanding the point and midpoint formulae;
  • Price Elasticity of Demand (PED) and connecting PED to the Demand Curve
  • Price Elasticity of Supply (PES)
  • Cross Price Elasticity of Demand
  • Income Elasticity of Demand
  • PED and profit maximisation
  • PED, total revenue and marginal revenue

The content of the course includes:
  • practice questions with video and written answers, 
  • PDF slide downloads,
  • Written notes, and
  • Practice multiple choice. 

** These resources are aimed at the 1st year microeconomics level. To check the applicability of the content, many of the lecture videos are freely available on Youtube (Link: https://www.youtube.com/playlist?list=PLrip9ayy_b98NJwC1sRXo8FRv3qIwHdXu)  so you can watch the Youtube playlist to check the applicability of the content. 
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