{"id":149,"date":"2024-05-29T23:01:11","date_gmt":"2024-05-29T23:01:11","guid":{"rendered":"https:\/\/course.oeru.org\/miec101\/?page_id=149"},"modified":"2024-05-29T23:01:11","modified_gmt":"2024-05-29T23:01:11","slug":"introduction-and-objectives","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/miec101\/learning-pathways\/supply-demand-and-equilibrium\/introduction-and-objectives\/","title":{"rendered":"Introduction and objectives"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>\nHere you will be introduced to the ceteris paribus assumption, which is crucial to building correlations between economic variables. When using ceteris paribus, we assume that all variables &#8211; with the exception of those in explicit consideration &#8211; will remain constant. We will then examine the supply and demand models and the resulting market equilibrium that occurs where the supply curve and the demand curve intersect.\n<\/p>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"objectives\" src=\"https:\/\/course.oeru.org\/miec101\/wp-content\/themes\/oeru_course\/idevices\/Icon_objectives.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Objectives<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p>Upon successful completion, you will be able to:\n<\/p>\n<ul>\n<li> analyze and apply the mechanics of demand and supply for individuals, firms, and the market; and\n<\/li>\n<li> determine equilibrium in the market under various situations that either cause movements or shifts in demand and supply.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.031 seconds\nReal time usage: 0.035 seconds\nPreprocessor visited node count: 111\/1000000\nPreprocessor generated node count: 839\/1000000\nPost\u2010expand include size: 2079\/2097152 bytes\nTemplate argument size: 670\/2097152 bytes\nHighest expansion depth: 7\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:176996-0!*!*!*!*!2!* and timestamp 20240529221303 and revision id 1010441\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/miec101\/learning-pathways\/supply-demand-and-equilibrium\/video-signpost\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/miec101\/learning-pathways\/supply-demand-and-equilibrium\/the-ceteris-paribus-assumption\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_principles_of_microeconomics\/Supply_demand_and_equilibrium\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"5aee58d34ac2e2864ee4e8da73b936b1\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_principles_of_microeconomics\/Supply_demand_and_equilibrium\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"5aee58d34ac2e2864ee4e8da73b936b1\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>Here you will be introduced to the ceteris paribus assumption, which is crucial to building correlations between economic variables. When using ceteris paribus, we assume that all variables &#8211; with the exception of those in explicit consideration &#8211; will remain constant. We will then examine the supply and demand models and the resulting market equilibrium [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":145,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-149","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/comments?post=149"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/149\/revisions"}],"predecessor-version":[{"id":150,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/149\/revisions\/150"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/145"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/media?parent=149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}