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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
2,151 ratings
515 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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76 - 100 of 510 Reviews for Firm Level Economics: Consumer and Producer Behavior

By JOEVIS D F

Jul 21, 2020

This course was designed in way that learners can easily understand concepts of economics by relating to real life examples.Credits goes to Prof.Larry

By Suraj A M

Sep 30, 2020

Thank you very much for the course. I enjoyed every minute of your lecture as well as your marvelous sense of humor in this extraordinary experience.

By Rabih G D

Jan 18, 2021

THE COURSE HELPED ME TO UNDERSTAND THE PRODUCT COST AND PRICE AND THE MARGIN OF PROFIT OR LOSSES AND WHEN TO MAKE DECISION SHUT DOWN THE PROJECT.

By Aniza T

Oct 26, 2020

Hello I'm Aniza Abas Tahlil from Somalia

This course will wait my certificate You completed Firm Level Economics: Consumer and Producer Behavior!

By Siddharth J

May 10, 2017

It's a throrughly intriguing course with plenty of Economics treasure packed in nice and neat offering. It teaches you so much in such little time.

By Matthew S B

Sep 5, 2016

This was a great refresher on micro economics. The online format was easy to navigate and the content was challenging. Really enjoyed the course.

By Johanne P

Sep 12, 2019

Excellent explanations. I felt that the concepts are well explained. The additional reading and video materials were on point. Highly recommended.

By Colin F

Mar 21, 2017

worth your time and effort. some mathematical background required but professor Larry makes it very easy to understand the intuition behind the fo

By Kausar K

Feb 28, 2019

Learned a lot on Supply & Demand and different markets in this course. The course is well written/prepared and had a fun time going thru this.

By Aymaan T

Aug 13, 2020

Sir Larry was so amazing. He made everything so much easier and it was so easy to grasp. Thank you to Coursera and Larry for this opportunity.

By Khadiza A

Jun 16, 2020

This is really a very helpful & attractive course I have done so far.The course instructor is always try to make the hard topics interesting .

By Matt C

Feb 23, 2021

A really amazing class. I took Microeconomics in college many years ago, and learned so much in this class. And the format was outstanding!

By Sergey T

Oct 25, 2020

Great course! Videos are very interesting, especially with examples from the history. Assignments are clear and don't take ages to prepare:)

By Pramod K

Sep 12, 2019

Professor DeBrock is a terrific teacher. He has the ability to explain complex concepts in a simple way using examples from everyday life.

By Anna M M

Jan 15, 2020

Professor Larry is an amazing Lecturer! I really enjoy this course and all the examples given on this course is very easy to understand.

By ARVIND K S

Aug 21, 2019

Excellent course for all economics, finance and management students and managers. Taught in a very interactive and comprehensive manner.

By Sonia M

Feb 18, 2020

Great class! Well explained concepts using every day examples to help in understanding the underlying reasoning behind those concepts.

By Joshua

Aug 13, 2020

I am a loss of words for the kind of teaching I have received from the instructor ! Thank you for making the concepts simple for us.

By Mayeesha

Jun 7, 2020

Very informative and enjoyable. learning though graphs and understanding the intuition of every topic. 10/10 would totally recommend

By Bharathwaj T

Jul 13, 2020

very good course to people who interested in economics.

prof. Larry is very good in teaching. I like his way of teaching very much

By Abdul M S

Jul 25, 2020

I think it was a great course and the instructor itself was very well explaining each topic with examples or cases of real life.

By Umang N

Sep 11, 2019

very interesting course to understand how makers performs and companies calculate costs. material is precise and prof is amazing

By Dishani T P W

Aug 7, 2020

It was a great course. Thank u coursera and dear sir for allowing us to follow these courses for free to enhance our knowledge.

By Md. F R L R

Jun 21, 2020

That is really a good course for me. I got a clear idea about market and cosumer. It will help me to set a good business sense

By David H

Apr 1, 2017

Great introductory course to microeconomics covering free market supply, demand, cost curves and firm short run equilibriums.