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Flash and QuickTime Movies for Principles of Microeconomics - Change in Demand and Effect on Price

by Larry Reynolds

Ratings

Overall Rating:
Content Quality:
Effectiveness:
Ease of Use:

Reviewed:	Jan 23, 2013 by Business Editorial Board
Overview:	This short flash presentation graphically illustrates how the change in demand affects price and quantity. A student simply clicks the play button on the site and watches the demand axis move out illustrating the effect and increase in equilibrium price and quantity. The material can be used as one teaching tool in support of a class lecture on the subject of change in demand. Economics remains an abstract subject to many students so the use of support materials is complimentary to the traditional lecture material. The flash should be used in conjunction with other activities such as videos, simulations, and assignments.
Learning Goals:	Learners will develop an understanding of how an increase in price is reflected by increase in demand.
Target Student Population:	High School and/or college undergraduate.
Prerequisite Knowledge or Skills:	The material is meant primarily for beginning economics students, but it could be used for review in a more advanced economics course by adding more depth and breath. In general, students should have a basic understanding of demand and supply, including graphical representations of each, in order to benefit from this activity.
Type of Material:	Flash diagram presentation
Recommended Uses:	The flash is supplemental learning material to support a class lecture on supply and demand and the effects of demand changes. It can be used to engage students to conduct classroom simulations. An example might be a simulation where students experience the emergence of equilibrium price and quantity from a orchestrated interaction of buyers and sellers. It could be used as a springboard for students to practice problems in which they plot demand and supply curves from schedules or charts.
Technical Requirements:	Viewed in IE 9.0.8112 and Google Chrome 24.0, Requires Flash plug-in

Evaluation and Observation

Content Quality

Rating:

Strengths:	• Clear illustration, simple to use and visually appealing. • Economics remains an abstract subject to many high school and undergraduate students. • This Flash presentation used in conjunction with other learning activities is an excellent example of a short and simple student-centered learning activity that has the potential of increasing student interest and enhancing success.
Concerns:	• May need to have some preliminary introduction to economic concept of supply and demand to fully understand the concept.

Potential Effectiveness as a Teaching Tool

Rating:

Strengths:	• Concept is visually effective in helping to understand the concept. • Can be effective to supplement other classroom activities and lectures.
Concerns:	• Basic concept is well illustrated and provides the components that are needed to understand the concept but will require basic prerequisite knowledge of the economic concept. • A voice over explaining the movement of the axis' and maybe providing two or three scenarios to reinforce the concepts would be very helpful to students.

Ease of Use for Both Students and Faculty

Rating:

Strengths:	• Clear, precise, can be reset and reviewed as needed.
Concerns:	none

Other Issues and Comments:

• Clean representation of an economic concept that is often difficult to grasp.

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