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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
2,253 ratings
528 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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276 - 300 of 523 Reviews for Firm Level Economics: Consumer and Producer Behavior

By TINNI P

Jul 25, 2020

He made it so easy to understand.

By Breno P R

Jun 22, 2020

Really good course for beginners.

By Mariano S C

Oct 4, 2019

great, to the point and fast pace

By Kalpana v

Jan 7, 2022

it was more of fun and enriching

By James S

Mar 4, 2018

Great class and great Professor!

By Dharmesh K K

Dec 27, 2020

very good knowledge in coursera

By Ritesh J

Jun 12, 2020

Very good course for beginners.

By Akhmadaliev M

Jan 4, 2022

It was great course. Thank you

By Jaya P S K

Jul 26, 2020

Excellent course! Very usefull

By isaac s

Dec 13, 2021

great course, good instructor

By Charbel M M

Oct 31, 2020

Good course i learn very much

By RAHUL

Jul 17, 2020

It was an amazing experience.

By Shayne M

Dec 20, 2020

Amazing and really enriching

By Jasir J

Jul 16, 2020

Excellent teaching method...

By Jason T

Feb 8, 2020

Larry teaches a great class!

By Vivek B

Feb 3, 2019

Excellent Course, Thank you!

By Ramanna S

Jul 22, 2020

Well designed and delivered

By Joshua F

Dec 2, 2019

Very good start to my iMBA!

By John K Y

Aug 17, 2018

It was a great experience!!

By Thúy T P T

Mar 7, 2021

The course is very helpful

By PRAVEEN K K S J

Aug 9, 2020

it was good to learn here.

By Zabin T

Jun 19, 2020

This course is so helpful.

By Xaqan N

Apr 20, 2021

The course is excellence.

By Jogender R

Oct 1, 2020

nice to study on coursera

By ALDO Y M H

Apr 28, 2022

It's a fantastic course.