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Firm Level Economics: Markets and Allocations

Firm Level Economics: Markets and Allocations

Ce cours fait partie de Spécialisation "Managerial Economics and Business Analysis "

Instructeur : Larry DeBrock

51 486 déjà inscrits

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4 modules

Obtenez un aperçu d'un sujet et apprenez les principes fondamentaux.

1,180 avis

niveau Intermédiaire

Certaines connaissances prérequises

Planning flexible

2 semaines à 10 heures une semaine

Apprenez à votre propre rythme

97%

La plupart des étudiants ont apprécié ce cours

4 modules

Obtenez un aperçu d'un sujet et apprenez les principes fondamentaux.

1,180 avis

niveau Intermédiaire

Certaines connaissances prérequises

Planning flexible

2 semaines à 10 heures une semaine

Apprenez à votre propre rythme

97%

La plupart des étudiants ont apprécié ce cours

Ce que vous apprendrez

Explain how different market structures result in different resource allocations.
Model the impact of external shocks to a particular market structure and demonstrate the new equilibrium price and quantity.
Explain when and why the government might intervene with regulatory authority or antitrust litigation to lessen inefficiencies in some markets.
Describe how information problems can cause inefficient outcomes.

Compétences que vous acquerrez

Catégorie : Business Economics
Catégorie : Resource Allocation
Catégorie : Supply And Demand
Catégorie : Competitive Analysis
Catégorie : Public Policies
Catégorie : Economics
Catégorie : Strategic Decision-Making
Catégorie : Environmental Issue
Catégorie : Game Theory
Catégorie : Economics, Policy, and Social Studies
Catégorie : Market Analysis
Catégorie : Market Dynamics
Catégorie : Environmental Policy
Catégorie : Decision Making

Détails à connaître

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13 devoirs

Enseigné en Anglais

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Ce cours fait partie de la Spécialisation "Managerial Economics and Business Analysis "

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Il y a 4 modules dans ce cours

In markets, prices act as rationing devices, encouraging or discouraging production and consumption to find an equilibrium. In this course, you will learn to construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Additionally, the course examines the ways in which markets are subject government intervention and the impacts of these interventions.

You will be able to: • Explain how different market structures result in different resource allocations • Model the impact of external shocks to a particular market structure and demonstrate the new equilibrium price and quantity after the impact of this external shock has played out • Evaluate the efficiency of an equilibrium • Explain when and why the government might intervene with regulatory authority or antitrust litigation to lessen inefficiencies in some markets • Describe how information problems can cause inefficient outcomes • Understand externalities and consider optimal government response to these market failures 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/.

Détails du module

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. This module will also introduce the concept of a perfectly competitive market. It is a benchmark construction, but it accurately models many markets in our economy. We will understand equilibrium outcomes in both the short run and the long run. We will understand how to analyze shocks to these equilibria.

Inclus

14 vidéos8 lectures4 devoirs1 sujet de discussion

14 vidéosTotal 122 minutes

Welcome to Firm Level Economics: Markets and Allocations!4 minutes
Learn on Your Terms1 minute
1-1.1. Markets and Allocations - Part 111 minutes
1-1.2. Markets and Allocations - Part 210 minutes
1-1.3. Market Structure - Part 17 minutes
1-1.4. Market Structure - Part 211 minutes
1-1.5. Market Structure - Part 34 minutes
1-1.6. Perfect Competition in Reality - as Told by an Economist11 minutes
1-1.7. Firm Supply Curve in a Perfectly Competitive Industry - Part 17 minutes
1-1.8. Firm Supply Curve in a Perfectly Competitive Industry - Part 218 minutes
1-2.1. Build Short Run Equilibrium Framework10 minutes
1-2.2. Long Run Equilibrium - Part 17 minutes
1-2.3. Long Run Equilibrium - Part 210 minutes
1-2.4. External Shock and Movement to New Equilibrium12 minutes

8 lecturesTotal 80 minutes

Syllabus10 minutes
ePub10 minutes
About the Discussion Forums10 minutes
Glossary10 minutes
Online Education at Gies College of Business10 minutes
Updating Your Profile10 minutes
Module 1 Overview10 minutes
Module 1 Readings10 minutes

4 devoirsTotal 120 minutes

Module 1 Quiz30 minutes
Orientation Quiz30 minutes
Lesson 1-1 Practice Quiz30 minutes
Lesson 1-2 Practice Quiz30 minutes

1 sujet de discussionTotal 10 minutes

Getting to Know Your Classmates10 minutes

Analysts can predict equilibrium outcomes with some degree of certainty. We want to construct a measure of efficiency that will allow us to evaluate the attractiveness of these equilibrium market outcomes. After using this metric to consider the efficiency of the competitive market, we will introduce a different market structure, monopoly, and use our efficiency metric to evaluate the equilibrium resource allocation under monopoly.

Inclus

10 vidéos2 lectures3 devoirs

10 vidéosTotal 125 minutes

2-1.1. Consumer Surplus - Part 110 minutes
2-1.2. Consumer Surplus - Part 216 minutes
2-1.3. Producer Surplus8 minutes
2-1.4. The Benevolent Dictator - Part 114 minutes
2-1.5. The Benevolent Dictator - Part 212 minutes
2-2.1. Monopoly Equilibrium - Part 115 minutes
2-2.2. Monopoly Equilibrium - Part 28 minutes
2-2.3. Marginal Revenue Curve in Monopoly8 minutes
2-2.4. Social Costs of Monopoly17 minutes
2-2.5. Governments Intervene in Monopoly17 minutes

2 lecturesTotal 20 minutes

Module 2 Overview10 minutes
Module 2 Readings10 minutes

3 devoirsTotal 90 minutes

Module 2 Quiz30 minutes
Lesson 2-1 Practice Quiz30 minutes
Lesson 2-2 Practice Quiz30 minutes

Perfectly competitive markets have many sellers. Monopoly has one seller. But much economic activity takes place in markets with just a handful of very large producers. These are called oligopoly markets. We will look at collusive arrangements among a small number of rivals, and then will use simple game theoretic techniques to model equilibrium.

Inclus

15 vidéos2 lectures3 devoirs

15 vidéosTotal 147 minutes

3-1.1. Introducing Oligopoly - Part 15 minutes
3-1.2. Introducing Oligopoly - Part 27 minutes
3-1.3. Collusion - Part 112 minutes
3-1.4. Collusion - Part 29 minutes
3-1.5. Collusion - Part 314 minutes
3-1.6. Efficiency, Social Costs, and Antitrust Enforcement - Part 18 minutes
3-1.7. Efficiency, Social Costs, and Antitrust Enforcement - Part 211 minutes
3-2.1. Simple Game Theory9 minutes
3-2.2. Computer Chess - Part 19 minutes
3-2.3. Computer Chess - Part 26 minutes
3-2.4. The Prisoner's Dilemma - Part 111 minutes
3-2.5. The Prisoner's Dilemma - Part 29 minutes
3-2.6. The Prisoner's Dilemma - Part 317 minutes
3-2.7. The Nash Equilibrium to a Non-Cooperative Game - Part 17 minutes
3-2.8. The Nash Equilibrium to a Non-Cooperative Game - Part 211 minutes

2 lecturesTotal 20 minutes

Module 3 Overview10 minutes
Module 3 Readings10 minutes

3 devoirsTotal 90 minutes

Module 3 Quiz30 minutes
Lesson 3-1 Practice Quiz30 minutes
Lesson 3-2 Practice Quiz30 minutes

Sometimes even markets that appear to be capable of great efficiency in resource allocation, such as the perfectly competitive market, can fall short of efficiency. Economists call this market failure. In this module, we will consider information issues and the impact on efficiency. We will also introduce externalities (spillovers) such as pollution and model these impacts.

Inclus

9 vidéos5 lectures3 devoirs1 évaluation par les pairs1 plugin

9 vidéosTotal 74 minutes

4-1.1. The Winner's Curse - Part 17 minutes
4-1.2. The Winner's Curse - Part 27 minutes
4-1.3. Information Asymmetries12 minutes
4-1.4. Adverse Selection: Unraveling Insurance Markets7 minutes
4-2.1. Positive and Negative Externalities - Part 19 minutes
4-2.2. Positive and Negative Externalities - Part 29 minutes
4-2.3. Measure the Gains from Positive Externality8 minutes
4-2.4. Measure the Costs Caused by Negative Externality - Part 16 minutes
4-2.5. Measure the Costs Caused by Negative Externality - Part 29 minutes

5 lecturesTotal 50 minutes

Module 4 Overview10 minutes
Module 4 Readings10 minutes
Module 4 Peer Review Explanation10 minutes
Congratulations on completing the course!10 minutes
Get Your Course Certificate10 minutes

3 devoirsTotal 90 minutes

Module 4 Quiz30 minutes
Lesson 4-1 Practice Quiz30 minutes
Lesson 4-2 Practice Quiz30 minutes

1 évaluation par les pairsTotal 60 minutes

Module 4 Peer Review Assignment60 minutes

1 pluginTotal 15 minutes

How was the course?15 minutes

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