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Back to Firm Level Economics: Consumer and Producer Behavior

Learner Reviews & Feedback for Firm Level Economics: Consumer and Producer Behavior by University of Illinois Urbana-Champaign

4.8
stars
2,490 ratings

About the Course

All goods and services are subject to scarcity at some level, which requires that society develop some allocation mechanism to determine who gets what. Over recorded history, these allocation rules were usually command based, meaning that the king or the emperor would decide. In contemporary times, most countries have turned to market-based allocation systems. In markets, prices act as rationing devices, encouraging or discouraging production and encouraging or discouraging consumption to find an equilibrium allocation of resources. To understand this process, businesses construct demand curves to capture consumer behavior and consider supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. You will be able to: • Describe consumer behavior as captured by the demand curve and producer behavior as captured by the supply curve • Define equilibrium and explain the impact of taxes and price controls on market equilibrium • Explain elasticity of demand • Describe cost theory and how firms optimize given the constraints of their own costs and an exogenously given price This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/....

Top reviews

SN

Feb 3, 2019

Absolutely made me understand firm level economics concepts. Good practice and foundation building.Professor is great and engages will with real life examples and connections.

KS

Jul 26, 2020

Great course that gives you a deep understanding on how the different cost and revenue curves behave. i would especially like to thank the instructor for teaching us. Thank you.

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376 - 400 of 583 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Edmundo E

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Nov 17, 2020

I learned a lot!

By Savitha R

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Nov 7, 2020

It's very useful

By Yash M

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Sep 26, 2020

Best course evet

By Nadar s

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Sep 21, 2020

Interesting.....

By indrajit p

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Aug 4, 2020

excellent course

By A N

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May 1, 2020

Excellent course

By Russell

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Feb 10, 2020

Very good course

By Anthony C j

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Sep 16, 2019

Loved the class!

By MT

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Nov 17, 2018

excellent course

By Libor T

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Apr 3, 2017

good recolection

By Keith M K

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Nov 15, 2016

Great instructor

By Charbel M

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Oct 29, 2020

Good experience

By FATHIMA P L

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Jul 10, 2020

Nice experience

By M A G

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Jun 3, 2020

Nice experience

By Christopher C

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Jun 1, 2016

Very well done!

By Anush V

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May 11, 2025

amazing course

By Sakshi D

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Sep 5, 2021

amazing course

By Bawa J D

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Jul 7, 2020

amazing course

By Manan S

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Jun 9, 2020

Amazing course

By krishnath s

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Feb 15, 2020

Great course !

By Karthik S J

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Jan 24, 2020

Great lectures

By 王越阳

•

May 25, 2017

nice professor

By Michael R V

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Nov 7, 2021

Great course!

By GOSARIPALLI R 1

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Mar 7, 2021

good learning

By SWETHA S

•

Jan 6, 2021

easy to learn