Economics 101

Now Available: Week Three of Economics 101…

“Understanding Demand”

View the Week Three Lecture

Reminder: You must be registered for Economics 101 in order to view previous lectures and access other course material.

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Overview:

In the third lecture of Hillsdale’s “Economics 101” online course, Dr. Gary Wolfram explains the concept of Demand, the measure of how much of a good service or service people are willing and able to buy at various prices. This lesson will be applied in future weeks, to determine how demand and supply interact to determine the prices that efficiently allocate goods and services in a market economy.

About the Lecturer:

Gary Wolfram is the William E. Simon Professor of Economics and Public Policy and Director of Economics at Hillsdale College, and President of Hillsdale Policy Group, a consulting firm specializing in taxation and policy analysis.  His recent book is titled A Capitalist Manifesto: Understanding the Market Economy and Defending Liberty. Professor Wolfram graduated summa cum laude from the University of California at Santa Barbara.  He received his Ph.D. in Economics from the University of California at Berkeley and has taught at several colleges and universities, including Mount Holyoke College, The University of Michigan, and Washington State University. He has contributed to national publications such as Human Events, American Spectator, and National Review. He was named Hillsdale College’s Professor of the Year for 2004 and received the Emily Daugherty Award for Teaching Excellence in 2011.