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Learner Reviews & Feedback for Firm Level Economics: Markets and Allocations by University of Illinois at Urbana-Champaign

4.9
stars
953 ratings
181 reviews

About the Course

In this class, we will derive equilibrium outcomes across a variety of market structures. We will begin by understanding equilibrium under a market structure called Perfect Competition, a benchmark construction. Economists have tools to measure the efficiency of market outcomes. We next consider the polar extreme of a competitive market: a monopoly market. We will determine the monopoly equilibrium price and quantity and efficiency properties. Much economic activity takes place in markets with just a handful of very large producers. To understand equilibrium in these oligopoly markets requires more careful attention to strategic interdependence. To capture this interdependence, we consider collusive arrangements among a small number of rivals as well as the use of simple game theoretic techniques to model equilibrium. Market Failure describes situations where markets fail to find the efficient outcome. Information asymmetries are one fertile form of market failure. Another form of market failure occurs when externalities are present. We will examine one key externality, pollution, and construct a policy prescription to mitigate the negative efficiency impacts of this externality. Upon successful completion of this course, 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. Different market structures produce different levels of efficiency. • 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 the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu....

Top reviews

RR
Nov 30, 2020

Learnt a great deal about Microeconomics! Prof. DeBrock teaches the class with great insights mixing history with everyday situations and issues. Can't say enough good things about this course!

AA
Jun 7, 2016

Awesome instructor, awesome materials and awesome learners. Of course, difficult assignments that I taught me a lot! Thank you Coursera, Dr. Larry and the entire team behind the scene.

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26 - 50 of 173 Reviews for Firm Level Economics: Markets and Allocations

By Izabela K

Dec 13, 2020

Great course. It helped me understand the market supply and demand relationships and what can happen on the market when the government intervene. For instance, some decisions have positive or negative spillover effects and should be well considered by decision makers.

By Parthik Y

May 27, 2020

Amazing course, and the best part amazing faculty. I must say Professor you have created my interest in economics exponential times, specifically in microeconomics. I would be amazed if I get similar guidance for my future. Really an awesome course!

By Sina G

Dec 14, 2020

Great Class and great concepts. Larry is quite relatable and provides many examples to get his point across. The only potential improvement is to cut the video's shorter with less repetitions and redundancy in the content.

By Rashmi R

Nov 30, 2020

Learnt a great deal about Microeconomics! Prof. DeBrock teaches the class with great insights mixing history with everyday situations and issues. Can't say enough good things about this course!

By Mike S

Mar 2, 2021

I found this course very informative. Dr. Larry is an excellent instructor who can break down complicated theories into easily understandable examples.

By Sami Y

Oct 10, 2019

Prof. DeBrock is the kind of teacher that can make you excited about a topic you have never looked at before. I hugely enjoyed this course!

By Bruno M N C

Jul 11, 2020

i think the professor is the best teacher i have ever seen, he is really smart but most important he knows how to explain his intelegence

By Ibrahim N

Jul 15, 2016

Excellent course and excellent mentor who can really make you to rediscover the economy and love it much more than before. Great thanks.

By J S

Mar 3, 2020

Great course and one the best professors in the business. One day I hope I get a chance to hire Larry's Tree Trimming Service.

By Bindu.S

May 7, 2020

I found it very interesting and useful. Easy to understand and grade ourselves with flexibility in watching videos. Thank you

By Julie A

Dec 13, 2020

Very easy to follow along, and well related to world problems as well. Very engaging course, definitely recommend.

By Samuel A

Jul 16, 2020

A great and expository course. Larry Debrock P.hd nailed it and this was a great support for people like me.

By syedzainaliraza

Aug 8, 2016

Its an excellent course. Many difficult concepts have been explained in plain language with good examples.

By Luz K

Mar 5, 2019

The professor made it very easy to learn and he retained my attention the entire time. Great Professor!

By Nathaniel R

Mar 3, 2020

Prof. DeBrock's courses are engaging and informative. I would seek out his courses without question.

By Jiayi S

Oct 19, 2020

Thank you sooooo much Larry! Love your content a lot. Would definitely consider doing an iMBA!

By Andrew P

Oct 7, 2019

Helpful content to explain the various markets structures and how prices and quantity reacts.

By Anurag P

Mar 1, 2016

i have done the previous course in the series , this is absolutely a delight for a student .

By Komsan S

Apr 4, 2021

The way a professor gave a lecture is very clear. Thank you very much for a perfect lecture.

By Yu Y

Feb 24, 2018

A lot of good examples during teaching. The professor explains all concepts quite clearly.

By RAHUL

Jul 22, 2020

It was an amazing course. I have gained the practical knowledge of the market structure.

By Emmanouil K

May 20, 2017

A fantastic course! Professor DeBrock's teaching style is excellent. Highly recommended!

By Adam D

Aug 19, 2016

Great instructor, and the quizzes and exercises genuinely make you think a little bit.

By Raghavi R

Jun 27, 2020

Informative course! I loved the Proffessor. Looking forward to more courses from him.

By Oladotun O A

Sep 14, 2019

Very educative class/course with a very good instructor. I'm glad I took this course.