MAGIC SCHOOL OF ECONOMICS

This web page is devoted to interactive charts, simulations and animation that would help you to understand economics. I will add the stuff in the future. The Czech interface is supported now but I plan to provide an English one in future. I would enjoy your comments or suggestion for improvement. The contact is .

Interdependence and gains from trade: magic of division of labor and cooperation.

Market forces of supply and demand: basic model of market equilibrium  ×  calc to Smith's experiment  ×  impact of price controls

Elasticity: price elasticity calculator of supply and demand

Welfare economics: dead weight loss of taxation  ×  price and scarcity: parking in front of a children's hospital.

Consumer's behavior: budget constraint  ×  consumer's optimum ordinary good and Giffen's good  ×  income and substitution effects  ×  decision about labor supply 1 a 2  ×  decision about savings.

Production cost: production cost.

Perfect Competition: competitive firm's decision making  ×  firm's optimum and market equilibrium (alternative chart)  ×  competitive market simulator.

Monopoly: 1st degree price discrimination with const. MC and general case  ×  3rd degree price discrimination.

Market Failure: Pigou's approach to externality.

Labor effort: Robinson Crusoe.

Demand for money: Baumol–Tobin model.

Unemployment: simulator of dynamic model of unemployment.

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