University of Illinois Urbana-Champaign
Firm Level Economics: Consumer and Producer Behavior
University of Illinois Urbana-Champaign

Firm Level Economics: Consumer and Producer Behavior

Larry DeBrock

Instructor: Larry DeBrock

93,643 already enrolled

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Gain insight into a topic and learn the fundamentals.
4.8

(2,421 reviews)

Intermediate level
Some related experience required
Flexible schedule
Approx. 17 hours
Learn at your own pace
97%
Most learners liked this course
Gain insight into a topic and learn the fundamentals.
4.8

(2,421 reviews)

Intermediate level
Some related experience required
Flexible schedule
Approx. 17 hours
Learn at your own pace
97%
Most learners liked this course

Details to know

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Assessments

14 quizzes

Taught in English

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This course is part of the Managerial Economics and Business Analysis Specialization
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There are 5 modules in this course

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

What's included

2 videos6 readings1 quiz1 discussion prompt

The fundamental problem of scarcity challenges us to think about an allocation mechanism to determine what is produced and who consumes it. We will discuss scarcity and allocation mechanisms. In this course, we will focus on markets and prices as the solution to this resource allocation problem.

What's included

7 videos2 readings3 quizzes

Markets are frequent targets of governments. This module will introduce government policy intervention into the market. This intervention can be direct control of prices or it could be indirect price pressure through the imposition of taxes or subsidies. Both forms of intervention are impacted by elasticity.

What's included

10 videos2 readings4 quizzes

This module will introduce cost theory. Firms are interested in producing profits, which are the residuals when costs are subtracted from revenue. Earlier modules constructed demand curves. They give us an idea of how many units of product we can sell at different prices; this would be firm revenue. We will work to understand inputs, production, and costs.

What's included

14 videos2 readings3 quizzes

The firm goal of profit maximization requires an understanding of costs and revenues. In this module, we will see how a firm optimally responds to a given market price by finding the profit maximizing output. The level of profits at this maximum profit point will help determine short run equilibrium.

What's included

10 videos5 readings3 quizzes1 peer review1 plugin

Instructor

Instructor ratings
4.8 (553 ratings)
Larry DeBrock
University of Illinois Urbana-Champaign
2 Courses101,728 learners

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Recommended if you're interested in Finance

Build toward a degree

This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹

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4.8

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