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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
2,151 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 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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451 - 475 of 510 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Andre A M

Oct 27, 2020

Doesn't cover Consumer Theory where you optimize using budget constraints, doesn't cover Producer Theory isoquants and isocosts, most concepts are intuitively and theoretically explained through generic graphs. Okay if you are required to take it for the iMBA only, but not a complete course per se as in "regular" microeconomics courses.

By Felix B

May 3, 2018

Well organized, perfectly flexible class with a nice professor. As a total stranger to this topic I really learned a lot and wasn't overwhelmed. 5 stars if you communicate from beginning on that the readings are optional but that it is highly recommended to read at least parts of them. Had a bit of a time issue in the first week.

By John S

Feb 28, 2019

Peer review took awhile for Module #4, alittle stressful as the deadline looms. Not a infrastructure issue, even emails to individuals were barely successful, need to improve on my part to do it earlier or how to influence peer reviews.

By Bruno J L A S

Jun 21, 2016

I really enjoyed this course and definitely recommend it. The instructor was great. I am removing one star because I feel that it needs a little bit more of real problem solving and a small amount more of mathematical derivations.

By John A

Sep 20, 2020

A background knowledge of microeconomics would most likely help many. The lectures were awesome but acing the quizzes might be difficult for anyone with little foreknowledge in microeconomics.

By P. N K

Jul 10, 2020

Everything is fine but regarding my economics subject, where i got some lagg while understanding because somewhat the examples are varies from one country to another country.

By Sanne S

Jan 4, 2018

Really liked this course. Only thing I'd wish to change would be to get an explanation of the answers to the assignments after they've been reviewed by the other peers.

By Yash S M

Jul 28, 2020

Excellent for beginners. Four modules basically cover all the basics needed to understand economics specially at Firm level when its a short run scenario.

By Gautam R

Feb 10, 2016

Please unlock case solutions in advance so we can assess our peers correctly

Otherwise great class with great references to other videos as well

By Юрко П П

May 24, 2020

Great course. Learned more new information that I need. One problem, for some reason I finished the course, but certificate isn't given to me.

By Eric M L E

Mar 8, 2019

Very interesting material and well-delivered and understandable / accessible. Not entirely sure of it's real-world applicability just yet.

By SUMIT M

Aug 4, 2020

It was a wonderful journey of knowing the basics of economics and understanding the concepts of economic

By PATRICIA N

Sep 8, 2020

this was my first time taking an economics course. it was difficult to understand the curves concept

By Aya M E

Jul 25, 2020

hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

By Jacques P P

Dec 8, 2018

Nice warm up module for further analysis of consumer and producer behavior.

By SONIKA S

Sep 24, 2020

Such a good platform to to learn more . Thank you for your teaching.

By HAWK R

May 11, 2020

Good course. Imperative to take notes and review transcript.

By adwoa a

Apr 23, 2021

It was a tough course but worth studying. Thanks Coursera

By Ed V

Feb 17, 2020

module 4 needs a little bit more work for extra clarity.

By Ali G

Nov 17, 2020

I like the way Dr. Larry teach this class

By Roy W

Sep 9, 2019

Need more video examples of problems.

By Faig K

Jan 28, 2018

There a lot of graphs on this course.

By Bob H

Mar 9, 2017

Really liked the peer review process.

By ricardo p o

Apr 4, 2017

great course, clear and dinamic.

By U16CE007 T S

Dec 3, 2020

Prof. Larry DeBrock was amazing