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

932 ratings
175 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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151 - 167 of 167 Reviews for Firm Level Economics: Markets and Allocations


Sep 1, 2020

wonderfull experience to learn about firm level economics with Larry one of the best sir who taught me in a very easy way thank you

By Jackson M

Dec 13, 2020

Week 4's quiz covered some math and vocab that wasn't in any of the videos. Other than that, very solid course!

By Đại N Q

Nov 1, 2020


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 Shalini S

Jul 27, 2020

It was a good course and I learnt about different markets and their impact.

By Sheila B

Dec 16, 2020

Some of the peer reviewers graded a bit strictly on the assignment reviews

By Dr C T F

Jul 24, 2020

Good course. Well prepared with acceptable expectations

By Michael T

Mar 5, 2018

Professor DeBrock makes Microeconomics interesting!

By Prasanth M

Sep 4, 2019

Great course work and very nicely explained!

By Eliane D

Dec 6, 2017

It was good but not simple to understand.

By T N 3

Feb 14, 2021



Jul 15, 2020


By male i

Nov 24, 2016


By musa s

Jul 15, 2020

I'm very grateful

By Romain V

Jul 21, 2016


By Deborah T

Dec 14, 2020

Hello Team,

I am enrolled in this course and need to cancel as it is difficult to me to study this course online at this time. Please cancel me out of this course. I cannot find a way to do it on your website.


Deborah Tymm