Demand Analysis

1. Demand Analysis Lecturer: EwaKusideł, Ph.D., Department of Spatial Econometrics UŁ Lecturer’s duty hours: www.kep.uni.lodz.pl\ewakusidel  Forms of course assessment: sit-in test– 30 minutes

2. Programme objectives for the academic year 2010/2011 • Course: Demand Analysis • Type of studies/System of studies: first cycle /full-time • Faculty/ Year of studies /semester: Ekonomia/III/6, Ekonomia sp. Ekobiznes I st. III/6, Finanse i rachunkowość/II/4, Gospodarka Przestrzenna/II/4, Logistyka, I st. II/4, Logist.innow.tech.mat/II/4, Międzynarodowe stosunki/II/4 • Type of classes: lecture • Number of hours: 30 • ECTS Points: 0-4 • Lecturer/Teacher: EwaKusideł, Ph.D.

3. I. REQUIREMENTS/ INITIAL CONDITIONS (only for 2nd degree students): • 1st degree course • II. LEARNING OUTCOMES • Knowledge: students have knowledge of fundamental economics related to demand for consumer goods and services. • Skills: students are able to determine factors influencing demand for any goods or services, analyze power and direction of the influence of these factors on demand, predict demand for consumer goods and services. • Attitudes/Competencies: understanding market regularities. • III. CONTENTS: • demand, supply and market equilibrium, • elasticity of demand with respect to price, income, advertisement and cross elasticity, • price elasticity of demand and its influence on sale revenues, • estimation and verification of different forms of demand function.

4. CONTENTS: • Demand and supply and market equilibrium • Factors which determine the supply of good and services; • Factors which determine the demand of goods and services with special attention to: • prices (of investigated good and substitutes and complements) and economic paradoxes, • income and division into normal, basic, inferior and superior good, • advertising of investigated good and substitutes and complements. • Correlation between the demand and its determinants • Elasticity of demand • Characteristics of elasticity of demand • Price-elasticity of demand • Income-elasticity of demand • Elasticity of demand with respect to expenditures on advertisements • Cross-price elasticity of demand • Cross elasticity of demand with respect to advertisement • Calculations of elasticity of demand • Quotient of the demand growth and growth of its determinant • Derivative method – elasticity from linear demand function • Power function coefficients as elesticities of demand • The usefulness of elasticity in business’ decisions • The influence of marketing activity • Maximization of the sale revenue (in respect to price elasticity) • The localization of the company • Estimation and statistical verification of demand function • Kinds and availability of market data • Price growth indexes and their role in demand analysis • Analytical forms of demand function • Problems with forecasting on the base of demand function

5. V. LITERATURE: Compulsory: Begg D., S. Fisher, R. Dornbusch, Economics, McGraw-Hill Book Company, London (any edition), chapter 2: Tools of economic analysis, chapter 3: Demand, supply and the market, chapter 4: Elasticities of demand and supply Course book developed by the lecturer available at: http://www.kep.uni.lodz.pl/ewakusidel/index/materialy/statystyczna_analiza_danych/analiza_danych.html

6. Additional: Begg David., S. Fisher, R. Dornbusch, Ekonomia, PWE, Warszawa [dowolne wydanie], rozdział 2: „Narzędzia analizy ekonomicznej”, rozdział 3: „Popyt, podaż i rynek”, rozdział 4: „Reakcje popytu na zmiany cen i dochodów”; Bingham R. C.,, Study Guide to Acompany McConnel: Economics. McGraw-Hill Book Company, Tenth Edition, 1987 (ISBN 0-07-044964-3). Chapter 24-25, ss. 208-227. Daszkowska Marianna, [1998], Usługi. Produkcja, rynek, marketing,PWN, Warszawa; Jajuga Krzysztof., [1998 lub dalsze], Ekonometria, Metody i analiza problemów ekonomicznych, Wydawnictwo AE we Wrocławiu, Wrocław; Głowacki R., J. Kramer, L. Żabiński, [1981], Analiza rynku, PWE, Warszawa; Kotler Philip., Marketing, [1999], Wydawnictwo Geberthner Spółka, Warszawa; Kramer Józefa., (red.), [1999], Zachowania podmiotów rynkowych., PWE, Warszawa; Kusideł Ewa, [2000], Some problems in testing of cointegration. Employment and production example, [w:] „Rynek - Innowacje - Rozwój Ekonomiczny”, Absolwent, Łódź ; Kusideł Ewa, Bogdan Suchecki [2000], Testing of Cointegration in the System of Equation, [w:] „Rynek - Innowacje - Rozwój Ekonomiczny”, Absolwent, Łódź; Kusideł Ewa, [2000], Application of structural VAR model and impulse response function, Dynamiczne Modele Ekonometryczne, Wydawnictwo Uniwersytetu Mikołaja Kopernika, Toruń; Nessim Hanna, M. Robert Dogde, [1997], Kształtowanie cen. Strategie i procedury, Polskie Wydawnictwo Ekonomiczne, Warszawa; Lubiński Marek., [2002], Analiza koniunktury i badanie rynków, Dom Wydawniczy Elipsa, Warszawa; Mruk Henryk (red.), [2003], Analiza Rynku, PWE, Warszawa; Rószkiewicz Małgorzata, [2002], ”Metody ilościowe w badaniach marketingowych”, PWN, Warszawa; Rutherford Donald, [2002], Routledge Dictionary of Economics, Routledge, London, New York; Tyszka Tadeusz. (red), [2004], Psychologia ekonomiczna, Gdańskie Wydawnictwo Psychologiczne, Gdańsk; Wrzosek Wojciech., [1998], Funkcjonowanie Rynku, Polskie Wydawnictwo Ekonomiczne, Warszawa.