Monday, July 21, 2014

Supply and Demand

When many people think of 'economics,' the first idea that comes to mind is 'supply and demand.' Consumers of business news are quite used to commentators and analysts, when asked why gas prices have risen, or why wages are low, or why salmon costs more than tuna, explaining that 'It's supply and demand.'

What exactly does that mean? Most people probably have an intuitive sense; 'supply' refers in some way to the amount of something that is for sale, and 'demand' refers in some way to how much people want. This is basically right. But think about it: both of those intuitive definitions are referring only to quantities. So where do prices come in? To answer that question, we've got to think clearly about demanders and suppliers.

Friday, July 18, 2014

Wolfram Demonstrations

Many of the posts on Marginal Coffeehouse utilize content that requires the Wolfram CDF Player. This free browser plugin allows the user to take advantage of interactive content.

Thursday, July 17, 2014


Welcome to the Marginal Coffeehouse! The aim of this site is to provide explanations of basic and advanced economics concepts. Many of these explanations will include interactive elements published by the Wolfram Demonstrations Project.

If you have any questions, please feel free to email.