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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 at Urbana-Champaign

4.8
stars
2,330 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

KS

Sep 11, 2019

This was awesome. I did not know Firm Level Economics when I joined this course. The explanations were simple and Prof DeBrock explained really difficult concepts in a very easy to understand manner.

FP

May 12, 2017

In the beginning I thought this was going to be a very basic course, but the way the professor explained the topics really make it interesting a practical, going beyond the classical economic theory.

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376 - 400 of 538 Reviews for Firm Level Economics: Consumer and Producer Behavior

By GOSARIPALLI R 1

Mar 7, 2021

good learning

By SWETHA S

Jan 6, 2021

easy to learn

By Le T T V

Jun 25, 2020

Thank for all

By sulthana S

May 28, 2020

Useful course

By Emiliano A

Feb 17, 2020

Great course!

By Artem A

Sep 6, 2019

Great course!

By Meena G

Feb 5, 2019

Great course!

By Luis R A

Mar 14, 2017

Great course!

By Aakriti.

Aug 23, 2022

GOOD COURSE.

By Khoder K T

Jan 17, 2021

thanks a lot

By R. R K

Dec 10, 2020

it was great

By Malika P P

Oct 12, 2020

Great course

By Mancha J S

Jul 26, 2020

Great course

By Vidushi G

Jun 23, 2020

Great Course

By Gerardo A J

Feb 7, 2019

Great course

By Hamada S S

Jan 29, 2019

Great Course

By Nikolaos P

Mar 4, 2018

Great Course

By Haygen S

Dec 2, 2022

nice.......

By Keerthana

Feb 3, 2021

Really good

By Nguyễn T H H

Dec 7, 2020

many thanks

By Renju P

Nov 24, 2020

nice course

By Ishara S S

Oct 30, 2020

Good course

By OLALEKAN O R

Aug 22, 2020

Nice course

By Dr T K K

Aug 20, 2020

Very useful

By Henry M N

Jul 31, 2020

nice course