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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

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

Top reviews

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.

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.

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101 - 125 of 510 Reviews for Firm Level Economics: Consumer and Producer Behavior

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.


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.


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 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.


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.


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


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 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 .