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https://github.com/alexanderthclark/freeride
Easy equilibrium analysis for linear demand and supply and other topics covered in an introductory undergraduate microeconomics course. This is an in-progress Python package.
https://github.com/alexanderthclark/freeride
econ001 econ101 microeconomics
Last synced: 9 days ago
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Easy equilibrium analysis for linear demand and supply and other topics covered in an introductory undergraduate microeconomics course. This is an in-progress Python package.
- Host: GitHub
- URL: https://github.com/alexanderthclark/freeride
- Owner: alexanderthclark
- License: bsd-3-clause
- Created: 2021-08-18T17:19:06.000Z (about 3 years ago)
- Default Branch: main
- Last Pushed: 2024-08-17T23:40:32.000Z (3 months ago)
- Last Synced: 2024-09-19T09:09:41.261Z (about 2 months ago)
- Topics: econ001, econ101, microeconomics
- Language: Jupyter Notebook
- Homepage: https://freeride.readthedocs.io/en/latest/
- Size: 3.06 MB
- Stars: 19
- Watchers: 2
- Forks: 6
- Open Issues: 2
-
Metadata Files:
- Readme: README.md
- License: LICENSE
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README
# Intro-Microeconomics
This is a package for introductory microeconomics topics. Find additional code, albeit unpackaged, in the loose-code branch. This new refactor does not yet have all of the same capabilities as in the old unpackaged code.
# Example Usage
`Demand` and `Supply` objects can be created in several ways, but most naturally with the `from_formula` class method. The method requires an explicit slope, so `"P=12-1*Q"` or `"P=12-1Q"` must be used instead of `"P=12-Q"`.
```
from freeride.curves import Demand, Supply
d1 = Demand.from_formula("Q = 10 - 1*P")
d2 = Demand.from_formula("P = 15 - 2*Q")
s1 = Supply.from_formula('Q = 2*P')
s2 = Supply.from_formula('Q = 2*P - 1')
```
The addition operator performs horizontal summation, allowing aggregation.
```
d = d1 + d2
s = s1 + s2
```
Then you can solve for and plot an equilibrium.
```
from freeride.equilibrium import Equilibrium
e = Equilibrium(d, s)
print(e.p, e.q)
e.plot()
```
Use matplotlib to customize plots further.
```
import matplotlib.pyplot as plt
ax = e.plot()
ax.set_ylim(0, 16)
# Label curves
ax.text(2, d(2) + 0.05,
s='D',
fontsize=16,
horizontalalignment='left',
verticalalignment='bottom')
ax.text(16, s(16) + 0.05,
s='S',
fontsize=16,
horizontalalignment='right',
verticalalignment='bottom')
# Label equilibrium
ax.text(e.q, e.p + 2,
s=f'Q={e.q:.2f}, P={e.p:.2f}',
horizontalalignment='center',
verticalalignment='bottom')
plt.savefig("equilibrium.svg", transparent=True)
plt.show()
```
