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Back to Firm Level Economics: Markets and Allocations

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

924 ratings
173 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

Top reviews

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!

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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51 - 75 of 166 Reviews for Firm Level Economics: Markets and Allocations

By Joseph C N

Oct 7, 2019

Great lectures and assignments that ensure you learned the material properly.

By Reece A M

Feb 11, 2018

Well taught course with some assignments that allow you to think for yourself


May 8, 2020

Excellent course content with lots of deep learning concepts of economics..

By Arun P R S

Feb 27, 2017

Very interesting lecture videos which makes it a great learning experience.


Jan 3, 2020

The instructor covered the material in an animated and enthusiastic

By Erwin T

Jun 6, 2020

well presented, documented and clearly explained economics course.

By Paul P A

Mar 6, 2018

Than you professor Larry. I'll miss Larry's tree trimming service.

By Nguyenlongthanh

Feb 25, 2021

Khóa học rất bổ ích làm tăng thêm phong phú kho kiến thức với tôi

By Frank A

Oct 1, 2019

Larry explains concepts well. Excellent course in pricing theory!


Jun 15, 2020

Excellent course that really help me to improve my knowledge.

By Myra A H

Dec 10, 2020

This is a great course. I learned a lot from Prof. De Brock.

By Nguyễn N T N

Apr 15, 2016

A great teacher and interesting course ^^ Thank you so much.


Jan 3, 2018

good course so far. looking forward to the next challenge.

By Pratikshya P

Feb 2, 2021

I loved the course and Larry DeBrock is the best teacher.

By Nicholas J B

Jun 13, 2018

Plenty of detals and examples to help you be sucsessfull!

By Felipe R

Feb 28, 2018

Great course. Learned new ways of looking at the world.

By Charlotta S R

Jul 24, 2016

I loved this course, very interesting and great teacher!

By Bruno C

Sep 24, 2017

I loved the professor, the content and the assignments.

By Ahmed N

Jun 17, 2018

Very informative and helps a lot with decision making

By Renato C L T

Nov 20, 2020

Excelente curso, me ayudo a esclarecer muchos temas.

By Ouatatchin K

Oct 8, 2016

An excellent course with very informative content!

By 胡杨帆

Apr 23, 2016

good course to learn something more in the markets

By Vikrant B

Mar 5, 2020

Great professor and teaching. Very useful course.

By Christopher G

Dec 4, 2020

Excellent course by an accomplished professor.

By Lawrence A

Oct 14, 2019

Great course with many real world applications