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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
2,154 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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201 - 225 of 510 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Reece A M

Jan 20, 2018

Excellent for those looking for an introduction into economics!

By Nguyen N S

Feb 28, 2021

Know about consumer and Producer Behavior and decision making

By Joseph C N

Sep 9, 2019

Very useful and intuitive! Prof DeBrock is a great lecturer!

By Pham C K

Sep 14, 2019

Very easy to follow the videos and complete the assignments.

By Bruno A

Feb 13, 2018

Very good hints, examples and it can be applied to any firm.

By Upasna T

Apr 19, 2019

very informative, very smooth teaching techniques. loved it

By Mauricio P

Jul 5, 2020

Very interesting course. Thanks Professor Larry DeBrock!!

By Iruansi I

Aug 4, 2018

It was very engaging and refreshing. I enjoyed the course.

By Huy K P

Mar 22, 2021

a lot of knowledge and skill can receive from this course

By Sean R P I

Nov 6, 2020

I have learned a lot of new concepts. Thank you so much.

By Mrs G

Sep 28, 2020

very clearly explained all the facts. enjoyed the course

By Kartik N

Mar 12, 2017

You can't help but like Prof DeBrock. Such a fun course!

By Arushi H

Jun 13, 2020

Really helpful this was and I got to learn alot. Thanks

By Rene J R A

Sep 18, 2016

Excellent intro to Firm Level Economics, great teacher.

By shubham p

Feb 8, 2016

Courses r very benificial but all courses are not freee

By Demet A

Sep 19, 2020

He is the best ınstructor for this ourse! Thank you :)

By Lukasz

Feb 20, 2020

Amazing materials introduced in a very attractive way.

By Hung D N

Jun 19, 2020

Practical and easy to catch with graphs and examples!

By Keita d N

Apr 26, 2020

Coursera est une très bonne plateforme pour apprendre

By Dr. C C

May 6, 2020

very good instructor ..larry u explained really well

By Jing Z

Jan 2, 2017

Very impressive, The first course on Coursera. Good!

By Lakshya N

Feb 18, 2016

Awesome course and good instructor!

I liked it a lot!

By Andrei S

Aug 9, 2017

Great course! I learned a lot about microeconomics.

By Arun P R S

May 30, 2017

Great course to get your basics of economics right.

By Nehemaiah N

Mar 16, 2016

The concepts explained well and easy to understand.