South Florida Community College Market

According to Scott Travis, in his article “South Florida community college faces overload”, the Community College market in south Florida has experimented significant changes. Whereas the interest for school is increasing, the number of classes available is limited. The situation that affects the USA economic has changed the scenario in south Florida colleges market. In fact, there are important determinants influencing the demand and supply for classes in south Florida Community College market.
Before analyze the colleges market, I would like to introduce three important concepts. Quantity demanded is the amount of a good or service that a consumer is willing and able to purchase at a given price (R. Glenn Hubbard, Anthony Patrick O'Brien, 2009, p. 68). Quantity supplied is the amount of a good or service that a firm is willing and able to supply at a given price (p. 75). Market equilibrium is the situation in which quantity demanded equals quantity supplied (p. 80). To begin with the demand, the number of people interested in going to college has increased for two reasons. First, the high unemployment rate has sent back a significant number of workers to school. At the same time, universities have limit capacity for new student; therefore, community college is the other option for those who cannot go to university. Consequently, as the number of people interested in study at community colleges increase, the demand for more classes increased. That is why the number of student enrolled has incremented 8% from 2007-09 to 2008-09 (Travis, 2009, p. 1). So far, the consumer number (students) is the factor that makes the demand curve shift to the right (R. Glenn Hubbard, Anthony Patrick O'Brien, 2009, p. 74). On the other hand, the government does not have funds to support the community colleges budge. Consequently, there is not money to pay instructors or to buy the inputs needed in the education system. As we can see, the supply (budge) for school has declined and the market supply curve for school has shifted to the left (p. 78). At this point, the quantity supplied does not meet the quantity demanded, so there is a shortage in the Community College market (p. 81). Moreover, the credits prices has increased allowing colleges to increase the quantity supplied and forcing the students to reduce the quantity demanded, but the market is not in equilibrium. These market changes have affected the Miami Dade College students because the price we have to pay for school is higher. In addition, there are students that do not get into any classes, we face crowded classrooms, and it is more difficult for us to make our schedule.
Finally, since the USA economic has declined, the government has reduced the schools budge, and the unemployment rate has increased affecting the community colleges market in south Florida. Consequently, the consumer number has increased, increasing the school demand. On the other hand, colleges have reduced the supply because there is not budge. The credits price is higher which affect the students. And finally, since the class quantity demand is greater than the quantity supplied, there is a shortage in the south Florida community college market, and it is not in equilibrium.


Works Cited
R. Glenn Hubbard, Anthony Patrick O'Brien. (2009). Macroeconomics (Second Edition, Update ed.). Upper Saddle River, New Jersey, 07458.: Pearson Education, Inc.
Travis, S. (2009, June 23). South Florida community colleges face overload. Retrieved from South Florida Sun-Sentinel: http://www.sun-sentinel.com