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

4.8
stars
2,064 ratings
501 reviews

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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101 - 125 of 491 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Khan A

Sep 10, 2020

It was really nice course.It helped me a lot.

It was clear my basic concepts.I liked it. It was Awesome & Superb Coursera.

By Cristian V

Jun 20, 2016

Great professor and great videos, make this class very easy to understand and apply these concepts in the business world.

By Chrisabel B

Oct 14, 2018

Topic very well explained, additional content is very helpful and should be considered! Quiz and assignment challenging!

By Komsan S

Mar 14, 2021

The professor provided full knowledge and he has a sense of humor so he made difficult things to be more interested.

By Yevgueni T

Jun 21, 2020

Prof. DeBrock does a great job explaining concepts, and does an excellent job in keeping me engaged in the lectures.

By 林奇忠

Apr 12, 2021

Thanks a lot for the instructor! For me as a beginner of the economics, this course helped me a big step forward.

By VIOLA B

Dec 28, 2020

Perfect both the courses in Firm level Economics that lead toward clear datas for the final Milestones. Thank you

By Ambarish N

Feb 9, 2019

It is an excellent introduction to price theory. Loved the simple and efficient quizzing and teaching techniques.

By Annie Z

May 21, 2018

This course was a great introduction into economics. It was my first class in this field and I really enjoyed it!

By cheting c

Feb 12, 2018

Nice course!! I like the way professor explain the complicated econamical situation by using graphs and metaphors

By WANG Y (

Oct 22, 2017

I like the teacher, compare with the teachers in china, he has more infectious. I learn lots from this course

By A.J S

Aug 16, 2020

Professor Larry is fun, and makes the course very understandable and simple. Great course in MicroEconomics.

By Yasmine S

Mar 29, 2021

I learned a lot about economics in general and how to increase profits......Thank you, especially professor

By Esther C

Sep 10, 2020

This course has helped me so much. also, the teacher has been exceptional in helping me understand clearly

By Troy Q

Nov 11, 2020

Straight forward lessons and sound instruction from professor. He keeps it relatable and understandable.

By Suraj M D

May 27, 2020

It was very well taught by Professor Larry. I'm looking forward to take more of the courses taught by him

By Neha N

May 21, 2020

Larry de Brock is one the best teachers you can get . he is just amazing, makes learning so easy and fun

By Guilherme C

Jun 4, 2017

Great content, very objective. The teacher was very clear and used relevant examples to make his points.

By Ashna

May 23, 2020

Really very much informative .Learnt a lot. Got a new dimension about the subject. Amazing experience .

By German E G T

Apr 29, 2020

It is an excellent course for those who want to take their first steps in the consumer and firm theory.

By Deleted A

Jun 25, 2017

I enjoyed studying this course! Thanks Larry! I liked the video lectures and the real-life examples.

By Maria D

Mar 27, 2016

nice course, with links to additional reading materials... well thought and good for busy person :-)

By Doug R

Sep 10, 2019

Excellent course. Well organized and prepares you well to go forward in deeper into microeconomics.

By neal c

Nov 12, 2020

Larry is a great lecturer - his enthusiasm and examples make a dry subject much more interesting

By mujtaba s

Jul 5, 2019

good course, the khan academy videos are a must watch if you want to full understand the concept.