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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
2,132 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

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.

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.

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276 - 300 of 504 Reviews for Firm Level Economics: Consumer and Producer Behavior

By RAHUL

Jul 17, 2020

It was an amazing experience.

By Shayne M

Dec 20, 2020

Amazing and really enriching

By Jasir J

Jul 16, 2020

Excellent teaching method...

By Jason T

Feb 8, 2020

Larry teaches a great class!

By Vivek B

Feb 3, 2019

Excellent Course, Thank you!

By Ramanna S

Jul 22, 2020

Well designed and delivered

By Joshua F

Dec 2, 2019

Very good start to my iMBA!

By John K Y

Aug 17, 2018

It was a great experience!!

By Thúy T P T

Mar 7, 2021

The course is very helpful

By PRAVEEN K K S J

Aug 9, 2020

it was good to learn here.

By Zabin T

Jun 19, 2020

This course is so helpful.

By Xaqan N

Apr 20, 2021

The course is excellence.

By Jogender R

Oct 1, 2020

nice to study on coursera

By Debesh D M

Jul 17, 2021

nice course for learners

By Deleted A

May 29, 2021

Prof. Larry is the best!

By Srijita G

Oct 11, 2020

It was a nice experience

By Ahmad N T

May 22, 2020

It’s an excellent course

By Debleena D

May 13, 2020

teaching was really good

By Dr M R

Apr 11, 2020

It's an excellent course

By wuxiangting

May 30, 2017

Great basic introduction

By Akash S

Apr 26, 2021

all was very intersting

By Khoa N M

Mar 2, 2021

Nice course! Thank you!

By Elgin G

Oct 22, 2020

This course is amazing!

By LAXMIKANT M S

Apr 28, 2020

Very informative course

By Farzana S

Mar 17, 2021

It was a great course.