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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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401 - 425 of 600 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Russell

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Feb 10, 2020

Very good course

By Anthony C j

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Sep 16, 2019

Loved the class!

By MT

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Nov 17, 2018

excellent course

By Libor T

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Apr 4, 2017

good recolection

By Keith M K

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Nov 15, 2016

Great instructor

By Charbel M

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Oct 29, 2020

Good experience

By FATHIMA P L

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Jul 10, 2020

Nice experience

By M A G

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Jun 3, 2020

Nice experience

By Christopher C

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Jun 1, 2016

Very well done!

By Anush V

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May 11, 2025

amazing course

By Sakshi D

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Sep 5, 2021

amazing course

By Bawa J D

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Jul 7, 2020

amazing course

By Manan S

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Jun 9, 2020

Amazing course

By krishnath s

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Feb 15, 2020

Great course !

By Karthik S J

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Jan 25, 2020

Great lectures

By 王越阳

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May 25, 2017

nice professor

By Michael R

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Nov 8, 2021

Great course!

By GOSARIPALLI R 1

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Mar 7, 2021

good learning

By SWETHA S

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Jan 6, 2021

easy to learn

By Le T T V

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Jun 25, 2020

Thank for all

By sulthana S

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May 28, 2020

Useful course

By Emiliano A

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Feb 18, 2020

Great course!

By Artem A

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Sep 7, 2019

Great course!

By Meena G

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Feb 5, 2019

Great course!

By Luis R A

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Mar 14, 2017

Great course!