Investigating the Economics of Rideshare at the Chicago Lyft Hub

The Seniors in the Economics course have been investigating the guiding question, How do we make choices in a world of limited resources and limited time?. In the course, students learn how to think like an economist while questioning their own ways of thinking in order to understand them better.

In the first unit entitled Growth, students examine the concept of supply and demand, and how companies meet consumer needs while remaining competitive. As a part of their investigation, they visited the Chicago Lyft Hub where specialists work hard to ensure that their drivers and riders are satisfied. Lyft is one of the pioneers of rideshare and the students got insight into what it takes to be a leader in a growing industry.

Why

Explore the concepts of supply and demand by using a real-time market through ridesharing.

How

Students will talk to the ops team and driver liaison to discuss and then plan out a possible strategy to encourage driver use (supply) and rider use (demand).