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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
2,331 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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426 - 450 of 538 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Chris M

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Oct 30, 2017

Badass

By Marco M

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Jul 15, 2022

great

By MUTHAIAGARI S G 2

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Mar 6, 2021

Super

By Anh N T

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Dec 12, 2020

Great

By Đông N V

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Sep 19, 2020

Great

By Rithika I

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Jul 11, 2019

Great

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Feb 22, 2017

great

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Dec 26, 2022

Good

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Dec 11, 2022

good

By Miheer K 2

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Nov 20, 2022

good

By KAWADI M R H

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Jan 15, 2022

nice

By Yifei L

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Aug 17, 2021

good

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Jun 18, 2021

Good

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Mar 25, 2021

good

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Mar 22, 2021

good

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Mar 16, 2021

Nice

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Mar 16, 2021

nice

By Bui N L

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Mar 15, 2021

Good

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Mar 14, 2021

Good

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Mar 10, 2021

good

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Mar 2, 2021

Good

By Aniket R

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Jan 18, 2021

Good

By Ruhim R

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Dec 19, 2020

good

By Quang T V

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Dec 13, 2020

good

By Selman S

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Dec 1, 2020

good

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