Comment by pas

microeconomics holds up amazingly well.

things get complicated of course as the situation under analysis gets further and further from the ideal setup, as data gets more scarce, and so on.

but the job market is pretty darn close to the simple model, and this question is also close to the ideal (how much more price need to rise for supply to meet demand, we draw the graph based on data from other professions, and boom, there's our answer, if we want to get very fancy we can do various models to try to estimate the curves.)