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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
2,330 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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101 - 125 of 538 Reviews for Firm Level Economics: Consumer and Producer Behavior

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.

By Austin M

Nov 9, 2020

Big fan of this professor, though whoever uploaded the videos didn't edit them as he was expecting. But good none the less.

By Aashish P

May 24, 2020

It's actually nice how sir explains everything. If you're interested in economics, then i would recommend you to go for it.

By MASROAF S S

Nov 9, 2020

It's the best course I've ever done on Price theory. This course goes in-depth of individual firms behaviour optimization.

By Cristo D

Nov 1, 2020

Very helpful course. Concepts are explained in such a manner that anyone without a background in economics can understand.

By MOHIT Y A C B 2 B

Sep 15, 2020

I had a great learning experience, the program is excellent, and I assure you by the end you will start loving economics.

By Gustavo P

Aug 4, 2019

Great course, managed to get the best out of it. Thanks to Professor Larry DeBrock who made everything easy to understand.

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