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

4.9
stars
624 ratings
111 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

AA

Jun 08, 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.

LD

Mar 07, 2018

Prof. Larry DeBrock makes very complicated concepts seem simple and understandable. He shows how to apply the concept to contemporary relevant issues. I sincerely loved this class.

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51 - 75 of 106 Reviews for Firm Level Economics: Markets and Allocations

By Lawrence A

Oct 14, 2019

Great course with many real world applications

By Maheshkumar P

Feb 15, 2017

Totally enjoyed this course. Highly recommend.

By Jay K

Mar 04, 2019

Great class, loved it and learned a lot.

By Dan M

Mar 02, 2018

Fascinating subject matter. Well taught.

By PRIYANKA H

May 08, 2020

Yes it is a good way to learn economics

By Gladys K W

May 07, 2020

so informative and can learning easily!

By Vivek B

Mar 02, 2019

Excellent Course, thank you Dr. Larry!

By Monica B

May 18, 2020

The professor is really exceptional!

By Rajat K

Oct 04, 2019

Prof L is the best. Learned so much.

By Hamada S S

Feb 22, 2019

Great class with great information!

By Andras I

Nov 25, 2019

Just as great as the first course!

By Ben

Jun 14, 2016

Great course! Extremely rewarding

By James S

Mar 03, 2018

Great class and great Professor!

By Ralph K M G

Mar 01, 2018

Excellent course, Prof DeBrock.

By Ahmad U H

Apr 24, 2020

Amazing course and learning.

By Michael O

Mar 02, 2019

Great class and professor!

By AKSA E J

May 30, 2020

This is an amazing course

By Ravi K J

Apr 25, 2020

well structured course

By Lala F

Apr 25, 2020

Enjoyed every moment!

By Viral S

Oct 06, 2019

Amazing experience.

By Chris M

Feb 22, 2018

Larry is the BOMB!!

By Badrinath R

Feb 08, 2018

really informative.

By Olusegun A

Feb 16, 2017

Excellent course!!!

By Hoàng H C

Mar 16, 2020

Very good, Thanks

By ARVIND K S

Aug 22, 2019

Excellent course!