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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

4.9
stars
935 ratings
176 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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126 - 150 of 168 Reviews for Firm Level Economics: Markets and Allocations

By Sandeep K

Oct 6, 2019

Great course.

By Iztok C

Mar 15, 2016

Great course!

By Dr. P D S

Aug 2, 2020

Very helpful

By Christian E L R

Jul 23, 2020

Great course

By MAYUR B

Mar 1, 2019

Best Course!

By Keith M K

Oct 24, 2016

Great course

By Muhsina s h

Jun 3, 2020

Good course

By Ali A

Apr 6, 2020

Nice course

By Wilson P

Mar 8, 2020

Love Larry!

By Tong V C

Dec 19, 2020

Good jobs

By Atanu D

Jun 3, 2020

very good

By Malki B

Mar 7, 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 Nguyen D H H

Jul 23, 2020

Good.!.

By ALAN J M

Aug 22, 2020

Great

By Sundus J

Nov 16, 2020

good

By S S S V

Aug 6, 2020

good

By JALOLIDDIN O

Jul 21, 2020

Good

By Xuân N T

Jun 18, 2020

good

By Emil A

Apr 22, 2020

good

By Gaurav M

Jan 10, 2020

Nice

By Adler J

Dec 25, 2017

P

By Rachel B

Mar 6, 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.