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Back to Firm Level Economics: Consumer and Producer Behavior

Learner Reviews & Feedback for Firm Level Economics: Consumer and Producer Behavior by University of Illinois Urbana-Champaign

4.8
stars
2,552 ratings

About the Course

All goods and services are subject to scarcity at some level, which requires that society develop some allocation mechanism to determine who gets what. Over recorded history, these allocation rules were usually command based, meaning that the king or the emperor would decide. In contemporary times, most countries have turned to market-based allocation systems. In markets, prices act as rationing devices, encouraging or discouraging production and encouraging or discouraging consumption to find an equilibrium allocation of resources. To understand this process, businesses construct demand curves to capture consumer behavior and consider supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. You will be able to: • Describe consumer behavior as captured by the demand curve and producer behavior as captured by the supply curve • Define equilibrium and explain the impact of taxes and price controls on market equilibrium • Explain elasticity of demand • Describe cost theory and how firms optimize given the constraints of their own costs and an exogenously given price This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/....

Top reviews

JA

Sep 20, 2020

A background knowledge of microeconomics would most likely help many. The lectures were awesome but acing the quizzes might be difficult for anyone with little foreknowledge in microeconomics.

SH

Aug 13, 2020

Larry is an excellent teacher--clear, concise, and entertaining. This was a refresher course for me (I majored in Econ at Berkeley 40 yrs ago) and reminded me why I chose to study it!

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251 - 275 of 600 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Demet A

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Sep 19, 2020

He is the best ınstructor for this ourse! Thank you :)

By Lukasz T

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Feb 20, 2020

Amazing materials introduced in a very attractive way.

By Hung D N

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Jun 19, 2020

Practical and easy to catch with graphs and examples!

By Keita d N

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Apr 27, 2020

Coursera est une très bonne plateforme pour apprendre

By NOOR I B U

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Apr 18, 2026

Very convenient.. i enjoy learning with this program

By Vishal J

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Aug 29, 2024

It was a very fine course with detailed explanation.

By Dr. C C

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May 6, 2020

very good instructor ..larry u explained really well

By Jing Z

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Jan 3, 2017

Very impressive, The first course on Coursera. Good!

By Lakshya N

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Feb 18, 2016

Awesome course and good instructor!

I liked it a lot!

By Andrei S

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Aug 9, 2017

Great course! I learned a lot about microeconomics.

By Arun P R S

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May 30, 2017

Great course to get your basics of economics right.

By Nehemaiah N

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Mar 17, 2016

The concepts explained well and easy to understand.

By Wu S

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May 20, 2022

Through this module, I learned much new knowledge.

By wendy a s r

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May 24, 2020

the best teacher in economics that i had ever seen

By Gang M

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Feb 7, 2018

This is a great course, and I highly recommend it.

By Koyna G

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Aug 5, 2020

VERY WELL EXPLAINED

GREAT EFFORTS BY SIR AND TEAM.

By Leonard B

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Mar 5, 2020

Great course, very challenging but well worth it.

By Sohaib F

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Feb 28, 2019

Very interesting course for learning price theory

By Cezanne P

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Mar 21, 2021

Larry is a great instructor. Very human approach

By Javier E P

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Aug 2, 2016

Loved the course. Had a wonderful time studying!

By CANTORNE, J B

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Dec 17, 2020

It was able to help me in my subjects in school

By 19UCO123 C A D

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Dec 4, 2020

very useful and wonderful to students to study.

By Vaibhav D

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Jul 4, 2020

economics made easy to understand. helped a lot

By Moubana A K

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Jan 13, 2018

Excellent course for business decision making .

By Alexander R

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Nov 12, 2020

Great course! Learned a lot from Dr. Debrock.