FREE Supply/Demand Charts That Illustrate Various Micro Economic Situations, Including Benefit Changes From Alternative Scenarios You Generate
These simple supply/demand charts require Excel 2013 or later but not VORSIM. Supply and Demand are fixed but prices can sometimes be changed to illustrate economic impacts. Elasticities are generally fixed.
SDgraph 1 World prices determine supply, demand and trade quantities for a product in a country. Change the world price for alternative scenarios.
SDgraph 2 World price + tariff determine supply, demand, imports. Change the world price and/or the tariff for alternative scenarios.
SDgraph 3 World price + export subsidy determine supply, demand, exports. Change world price and/or export subsidy for alternative scenarios.
SDgraph 4 Supply, demand – base and alternative scenarios. Shift supply and/or demand schedules to obtain alternative equilibrium situations. Benefits (surpluses) are calculated for scenarios as well as differences from the base scenario.
SDgraph 5 The impact of a monopoly (sole seller) situation is shown and benefit changes are calculated.
These supply/demand graphs allow you to draw alternative scenarios by shifting the schedules. Shifts are made with leaving intercepts fixed for simplicity; for small shifts about the equilibrium, this is a reasonable approximation for the calculation of changes in benefits.
DrawMonopoly The impact of a monopoly (full or partial) is calculated for scenarios that can be generated.
DrawSDshift This chart shows the impact when supply/demand schedules are shifted by taxes or subsidies.
DrawShiftQSD This chart shows the impact when supply/demand schedules are shifted by quantity (percentages)
The remaining Supply/Demand schedule shifts the entire schedule (rather than rotate schedules around their intercepts as is done above.)
ShiftSD This chart rotates supply/demand schedules about the base equilibrium when elasticities are changed. Impacts of shifts can be calculated for different supply/demand elasticities. Elasticities for all of the linear schedules are centered on base equilibrium price and quantity and are used to calculate slopes of all these linear schedules.
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FREE trial version of VORSIM 15 [requires Excel 2013 or 2016 – download VORSIM15trial.zip, unzip, and run the 3 *.exe (VORSIM15trial.exe, DEMOsetup.exe, and STATsetup.exe) files to install VORSIM 15 and 2 demonstration models]. You will have to adjust your security to the lowest levels to install VORSIM.
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You can download (by clicking the Situation button) these supply demand situations and change parameters to see how the results are changed. Alternatively, you can install all of the charts with the SDchartsetup program at the bottom of this column.
Consumer and producer benefits (surpluses) are used to measure the impact of policy or economic changes.
You can also download a trial version of VORSIM 15 with the demonstration model DEMO.
You can install all of the graphs by downloading SDchartsetup below:
These charts use versions of Excel that require the xlsx suffix (e.g. Excel 2013 or 1016).