Chevron Left
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
1,466 ratings
364 reviews

About the Course

All goods and services are subject to scarcity at some level. Scarcity means that society must develop some allocation mechanism – rules to determine who gets what. Over recorded history, these allocation rules were usually command based – 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 in such a way as to find an equilibrium allocation of resources. We will construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Markets are frequent targets of government intervention. This intervention can be direct control of prices or it could be indirect price pressure through the imposition of taxes or subsidies. Both forms of intervention are impacted by elasticity of demand. After this course, you will be able to: • Describe consumer behavior as captured by the demand curve. • Describe producer behavior as captured by the supply curve. • Explain equilibrium in a market. • 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 the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu....

Top reviews

KS

Sep 12, 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 13, 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.

Filter by:

51 - 75 of 358 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Nabila M C

Jun 30, 2020

This course was really awesome. Well explained. My confusion also get cleared regarding those. Thanks to my peer also. Because their review meant lot to complete this course.

By Suprav K

Jul 18, 2020

The course was vey nice but there was some person named JAYA LAKSHMI VAKITI who is passing negative comments about me please look into this matter as it is not acceptable.

By Kaustubh C K

Jun 20, 2020

It was great! It feels to be hard sometimes, but all the complete course matter is crucial to be understood. We can always go back and clarify your doubts at the videos.

By Neal S

Nov 26, 2017

Great class -- I have an undergraduate degree in economics. Of the many economics classes that I have attended in the past, this is by far one of the most enjoyable.

By Onkar I

Sep 22, 2019

Amazing course!! Prof.DeBrock is a highly experienced professor who teaches critical micoreconomics concepts in a really easy to understand and intuitive fashion.

By Kedar U

May 09, 2020

A very engaging course. Gets you intrigued from minute one. A must for all lazy mathematicians. [ you will know what I mean after you start this course ;) ]

By Himanshu G

Feb 12, 2020

Larry is a great teacher who builds your intuition. He also presents the material incrementally so that you understand the material. The exams are great!

By Omodiaogbe S

Feb 11, 2016

Great insights on the application of microeconomic theory to everyday decision-making. The application assignments makes the course more understandable.

By JOEVIS D F

Jul 21, 2020

This course was designed in way that learners can easily understand concepts of economics by relating to real life examples.Credits goes to Prof.Larry

By Siddharth J

May 10, 2017

It's a throrughly intriguing course with plenty of Economics treasure packed in nice and neat offering. It teaches you so much in such little time.

By Matthew S B

Sep 06, 2016

This was a great refresher on micro economics. The online format was easy to navigate and the content was challenging. Really enjoyed the course.

By Johanne P

Sep 12, 2019

Excellent explanations. I felt that the concepts are well explained. The additional reading and video materials were on point. Highly recommended.

By Colin F

Mar 21, 2017

worth your time and effort. some mathematical background required but professor Larry makes it very easy to understand the intuition behind the fo

By Kausar K

Mar 01, 2019

Learned a lot on Supply & Demand and different markets in this course. The course is well written/prepared and had a fun time going thru this.

By Aymaan T

Aug 13, 2020

Sir Larry was so amazing. He made everything so much easier and it was so easy to grasp. Thank you to Coursera and Larry for this opportunity.

By Khadiza A

Jun 17, 2020

This is really a very helpful & attractive course I have done so far.The course instructor is always try to make the hard topics interesting .

By Pramod K

Sep 12, 2019

Professor DeBrock is a terrific teacher. He has the ability to explain complex concepts in a simple way using examples from everyday life.

By Anna M M

Jan 15, 2020

Professor Larry is an amazing Lecturer! I really enjoy this course and all the examples given on this course is very easy to understand.

By ARVIND K S

Aug 22, 2019

Excellent course for all economics, finance and management students and managers. Taught in a very interactive and comprehensive manner.

By Sonia M

Feb 18, 2020

Great class! Well explained concepts using every day examples to help in understanding the underlying reasoning behind those concepts.

By Joshua

Aug 13, 2020

I am a loss of words for the kind of teaching I have received from the instructor ! Thank you for making the concepts simple for us.

By Mayeesha

Jun 07, 2020

Very informative and enjoyable. learning though graphs and understanding the intuition of every topic. 10/10 would totally recommend

By Bharathwaj T

Jul 13, 2020

very good course to people who interested in economics.

prof. Larry is very good in teaching. I like his way of teaching very much

By Abdul M S

Jul 25, 2020

I think it was a great course and the instructor itself was very well explaining each topic with examples or cases of real life.

By Umang N

Sep 12, 2019

very interesting course to understand how makers performs and companies calculate costs. material is precise and prof is amazing