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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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76 - 100 of 166 Reviews for Firm Level Economics: Markets and Allocations

By Maheshkumar P

Feb 14, 2017

Totally enjoyed this course. Highly recommend.

By A.J S

Sep 8, 2020

Prof. Larry is great in explaining with ease.

By Rahul P

Jul 20, 2020

Larry Debrock is the best teacher so far

By Jay K

Mar 3, 2019

Great class, loved it and learned a lot.

By Dan M

Mar 2, 2018

Fascinating subject matter. Well taught.


May 8, 2020

Yes it is a good way to learn economics

By Gladys K W

May 7, 2020

so informative and can learning easily!

By Daisy P K

Oct 26, 2020

superb course. well explained lectures

By Vivek B

Mar 2, 2019

Excellent Course, thank you Dr. Larry!

By Dishant S

Aug 7, 2020

Great course!! Thoroughly enjoyed it.

By Monica B

May 17, 2020

The professor is really exceptional!

By Rajat K

Oct 3, 2019

Prof L is the best. Learned so much.

By Anushree K

Dec 13, 2020

Professor Larry is simply the best!

By Hamada S S

Feb 22, 2019

Great class with great information!

By Andras I

Nov 24, 2019

Just as great as the first course!

By Ben J

Jun 14, 2016

Great course! Extremely rewarding

By Damilola O

Jul 12, 2020

Wonderful and insightful lecture

By James S

Mar 3, 2018

Great class and great Professor!

By Ralph K M G

Feb 28, 2018

Excellent course, Prof DeBrock.

By Ahmad U H

Apr 24, 2020

Amazing course and learning.

By paco b

Sep 24, 2020

the best coirse thanks alot

By Muhammed I

Jun 18, 2020

Instructor is awesome...!!!

By Michael O

Mar 2, 2019

Great class and professor!


May 29, 2020

This is an amazing course

By Sean R P I

Nov 14, 2020

I learned a lot. Thanks