Lecture
This lecture discusses the movements along and shifts of demand and supply curves, explaining how price changes affect quantity demanded. It also covers the difference between shifts and movements along the curves, illustrating with examples how external shocks can impact consumer behavior. The instructor clarifies the concepts of demand curve shifts due to changes in income or preferences, and explains the distinction between price elasticity and slope. Additionally, the lecture addresses common errors in calculating slopes and parameters in economic models, emphasizing the importance of correctly interpreting economic relationships. The discussion extends to the principles of discounting and capitalization in investment analysis, highlighting the significance of comparing investment options at different time points to make informed decisions.