Chevron Left
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

4.9
stars
617 ratings
109 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.

Filter by:

76 - 100 of 104 Reviews for Firm Level Economics: Markets and Allocations

By Shaw K G H

Dec 30, 2017

Very good course!

By Lukasz T

Mar 08, 2020

Fantastic course

By Ray S

Mar 09, 2020

Amazing course

By Kartikeyan S

Oct 14, 2019

Awesome course

By Meena G

Feb 07, 2019

Great course!!

By Ameya C

May 10, 2020

Great Course!

By Diana T

Feb 18, 2020

Great course!

By Sandeep K

Oct 07, 2019

Great course.

By Iztok C

Mar 15, 2016

Great course!

By MAYUR B

Mar 01, 2019

Best Course!

By Keith M K

Oct 24, 2016

Great course

By Ali A

Apr 06, 2020

Nice course

By Wilson P

Mar 09, 2020

Love Larry!

By Malki B

Mar 07, 2020

Excellent

By Sejal R S

Oct 20, 2019

Excellent

By Mohamed G

Jun 16, 2016

very nice

By FELIX M

Mar 29, 2016

EXCELLENT

By Emil A

Apr 22, 2020

good

By Gaurav M

Jan 10, 2020

Nice

By Adler J

Dec 25, 2017

P

By Eric M L E

Mar 12, 2019

Great learning experience, teacher is clear and relatable. I'm still holding out on a 5-star until I can figure out exactly how I'll use this stuff in IRL context as a C-level exec. Good background info though... utilitarian? Maybe not so much atm.

By Rachel B

Mar 06, 2018

The "optional reading" isn't actually optional. Just make it required.

Also, assign/provide a refresher on algebra as pre-course work. It has been multiple decades since I have had to work with slopes and graphs.

By Gurnimrat K

Feb 26, 2017

More detailed explanation possible. On the whole, very patiently taught by the professor!

By Dubem O

May 30, 2016

I have thoroughly enjoyed this session with Larry DeBrock. A delightful presentation.

By Michael T

Mar 06, 2018

Professor DeBrock makes Microeconomics interesting!