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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
2,112 ratings
509 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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151 - 175 of 504 Reviews for Firm Level Economics: Consumer and Producer Behavior

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 7, 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 3, 2020

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

By Ilaha B

Sep 13, 2021

T​hanks to Mr Larry! Very interesting and engaging explanations! Love your vibes!

By DILIP K H

Sep 12, 2020

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

By Sakif A

Jul 11, 2020

The course was fun and it had enough alternate resources. I enjoyed it very much.

By Fredrik E

Feb 11, 2020

Excellent course material, great lectures, easy to follow a not so easy material.

By Anurag P W

May 30, 2017

The course cleared the basics of firm level economics in a very efficient manner

By Emmanouil K

Apr 17, 2017

Great class! Everything is explained in an intuitive manner. Highly recommended!

By Dương N

Sep 1, 2021

Outstanding quality, funny and supportive teacher . Love your teaching style!!!

By manish d

Jun 7, 2020

The course is good as it is. This helped me recollect the maximum of the charts

By Santiago G M

Jun 2, 2020

Very good course. Proffesor explains very well and it is easily understandable.

By David A G

Apr 29, 2020

Loved this course and loved tuning in to hear Larry teach it. Very good course!

By Yu Y

Feb 24, 2018

A good introduction for many basic concepts on demand and supply. Nice teacher.

By Innocent O

Mar 18, 2019

The course was well understood as the instructor made everything seem so easy

By Janhavi B

Sep 18, 2020

Amazing Course. Prof. Larry DeBRock has wonderfully explained every concept.

By Mohammad E

Jul 13, 2020

Needs more attention from instructors/TAs to the forums. Otherwise, awesome.

By Anjali G

Nov 9, 2020

Complicated subject explained in a simple way! We love you Prof. DeBrock..

By Kanwar S S

Mar 31, 2019

GREAT COURSE. iNSTRUCTOR WAS EXELLENT. GREAT EXPLANTIONS AND GOOD COVERAGE.

By Mayra S

Sep 12, 2021

Professor Larry is so energetic that makes the class easier to understand.

By Thuần N T

Dec 18, 2020

Great knowledge to learn and apply to the business with overview foreseen,

By Joel A A R

Jul 15, 2020

Professor was great, all information also great! enjoyed a lot this course

By Sergey D

Mar 27, 2021

It was nice and useful. Professor's explanations were detailed and clear.