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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
1,466 ratings
364 reviews

About the Course

All goods and services are subject to scarcity at some level. Scarcity means that society must develop some allocation mechanism – rules to determine who gets what. Over recorded history, these allocation rules were usually command based – 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 in such a way as to find an equilibrium allocation of resources. We will construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Markets are frequent targets of government intervention. This intervention can be direct control of prices or it could be indirect price pressure through the imposition of taxes or subsidies. Both forms of intervention are impacted by elasticity of demand. After this course, you will be able to: • Describe consumer behavior as captured by the demand curve. • Describe producer behavior as captured by the supply curve. • Explain equilibrium in a market. • 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 the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu....

Top reviews

KS

Sep 12, 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 13, 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 358 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Luis F M R

Jul 07, 2020

This is a great course. I had so much fun learning about this topic, which is totally new to me.

By Lorena R

Jun 23, 2020

Excellent explanation and material. Some links don't work but the other material is very helpful

By Pedro J M D

Apr 19, 2020

Larry hace la explicacion de los conceptos algo muy facil, se disfruta y aprende mucho el curso.

By Oscar C

Feb 14, 2020

Very insightful and professor provides clear explanations of the material covered in the class.

By Dejan C

Jan 21, 2019

Exceptional course! Enjoyed watching and reading. So much new interesting and useful learnings.

By Ngo T P M

Nov 18, 2018

This course provides the fundamental knowledge about economy. I am satisfied with this course.

By Shubham P

Apr 29, 2020

A very good course to understand microeconomics. Thanks to Mr Larry for making us understand.

By Getahun K M

Jun 09, 2017

It is a very good course which gives a good insight regarding consumer and producer behavior.

By Sergey T

Sep 20, 2020

Good course. Videos are interesting, assignments are clear ad doesn't take ages to prepare:)

By SHANU C

Aug 05, 2020

I totally had a new insight about consumer and Producer behavior,and also gained knowledge.

By Rohit M

Jul 12, 2020

One of the best instructor on the Coursera, explains each concept very easy to understand.

By Tam T

Sep 12, 2019

Great course and Prof. Larry DeBrock is a very engaging. It is a joy to be in his class.

By Miguel A O E

Feb 09, 2020

Well organized course, clear, motivating. Very helpful to learn microeconmics from zero.

By Arya J K J

Aug 03, 2020

This is a very nice course to take up. The professor explained each concepts very well.

By Sreehari S

May 30, 2020

Good course , I can acheive an excellent knowledge about the firm behavior and economy

By S D

Jul 14, 2020

Explanation is very simple and all basics are explained well, very easy to understand.

By Steven v d M

Nov 05, 2017

What a great lecturer! Provides a perfect introduction for any beginner into Economics

By Reuben M M

May 24, 2020

The classes were held very well and the explanations were given in a very simple way.

By Andrew P

Sep 11, 2019

Great content and process. This was my first Coursera course and I really enjoyed it.

By Badrinath R

Feb 10, 2018

Excellent explanation of the basic concepts and good insight into the subject matter.

By Prem T

Jul 31, 2020

really nice course and the lecturer did an excellent job at explaining the concepts

By Edmundo A R Y

Jul 07, 2020

Great course, Larry makes it very easy to understand economics. Thank you very much!

By Himanshu B A

May 29, 2020

The course gives clear idea of controlling production as per the market conditions.

By Neha S J

Aug 03, 2020

It's an amazing course. Very easy to understand. The explanation is very detailed.

By DILIP K H

Sep 12, 2020

Excellent design and direction......To enter and exit the course....... thnx.....