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

4.9
stars
928 ratings
174 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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101 - 125 of 167 Reviews for Firm Level Economics: Markets and Allocations

By Sean R P I

Nov 14, 2020

I learned a lot. Thanks

By MEKALATHURU S

Jun 28, 2020

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By Ravi K J

Apr 25, 2020

well structured course

By Lala F

Apr 25, 2020

Enjoyed every moment!

By Reza S

Dec 15, 2020

I enjoyed the course

By Luca D

Sep 27, 2020

A very useful course

By Beffin S

Sep 22, 2020

The session was good

By Vidushi G

Jul 5, 2020

very well explained

By Viral S

Oct 5, 2019

Amazing experience.

By Chris M

Feb 22, 2018

Larry is the BOMB!!

By Badrinath R

Feb 7, 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 21, 2019

Excellent course!

By Shaw K G H

Dec 29, 2017

Very good course!

By Lukasz

Mar 8, 2020

Fantastic course

By DIPAL R

Sep 1, 2020

Really awesome.

By KENAZ K J

Jun 26, 2020

gud experience

By Ray S

Mar 8, 2020

Amazing course

By Kartikeyan S

Oct 14, 2019

Awesome course

By Meena G

Feb 7, 2019

Great course!!

By Sholpan I

Dec 12, 2020

Great course!

By Sergey T

Oct 25, 2020

Great course!

By Ameya C

May 10, 2020

Great Course!

By Diana T

Feb 18, 2020

Great course!