Animated and audio exploration of General Equilibrium. Animated Edgeworth Box graphics are used to illustrate general equilibrium and disequilibrium in a competitive economy. A simple version of the Second Welfare Theorem is graphically illustrated. Three animations explore a Robison Crusoe economy, introducing production into a simple general equilibrium model.
This app contains 12 animated graphs with voice over that plays as graphs are drawn. Users can jump ahead to which ever graph or portion of a graph that is of interest.
Useful for any undergrad micro economics.
Developed in conjunction with Professor Thomas Nechyba for the Micro Economics curriculum, Department of Economics, Duke University, Durham, NC