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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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551 - 575 of 600 Reviews for Firm Level Economics: Consumer and Producer Behavior

By SAILI S S

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Sep 23, 2023

It was an overall great learning experience.

By Ali G

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Nov 17, 2020

I like the way Dr. Larry teach this class

By Roy W

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Sep 9, 2019

Need more video examples of problems.

By Faig K

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Jan 29, 2018

There a lot of graphs on this course.

By Bob H

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Mar 10, 2017

Really liked the peer review process.

By ricardo p o

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Apr 4, 2017

great course, clear and dinamic.

By U16CE007 T S

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Dec 3, 2020

Prof. Larry DeBrock was amazing

By Deleted A

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Aug 24, 2020

ISSUES IN RECEIVING CERTIFICATE

By NAKHEEB S M

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Sep 22, 2023

Good to learn something new

By Jun Z

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Mar 3, 2017

A useful elementary course.

By SARMAD H

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Nov 24, 2020

very informative course

By bisma i

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May 28, 2019

Good experience of mine

By Đại N Q

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Oct 23, 2020

very practical lesson.

By Clare P

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May 23, 2016

It is well organized.

By Keron S W

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Oct 14, 2020

Thank for knowledge

By Fedor G

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Mar 14, 2016

Really good course!

By POOJA V L

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Oct 9, 2020

Good to learn more

By Kayphet I

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Apr 6, 2021

Wonderful course!

By Harshida K

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May 15, 2020

Good course ever.

By ANURAG T

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Apr 18, 2021

Happy learning

By Siddharth N

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Nov 27, 2020

Great content

By Sunny P

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Sep 8, 2024

it was good

By Angel P A

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Jul 29, 2020

NICE COURSE

By ERASMO S

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Jan 2, 2019

Excelent!!!

By Romain V

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Jun 17, 2016

Complex. Bu