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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

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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51 - 75 of 504 Reviews for Firm Level Economics: Consumer and Producer Behavior

By RITESH K

Nov 30, 2020

I THOROUGHLY ENJOYED THE LEARNING PROCESS. IT WAS AN INSIGHTFUL JOURNEY LEARNING FROM PROFFECER LARRY DEBROCK. HIS METHOD OF TEACHING IS OUTSTANDING. I WAS ABLE TO UNDERSTAND AL THE CONCEPTS VERY CLEARLY.

By Akshay H

Dec 11, 2017

Excellent course by Prof. Larry Debrock!

How does a market work? How is the price of a product decided? When should you shutdown a firm? and a lot more.

This is the course to get introduced to Economics.

By Bruno C

Aug 9, 2017

Excellent professor.

Content well structured, videos, slides, quizz, assignments.

Support material and recommended reading also well structured.

Congratulations!

I was addicted until finishing in <2weeks!

By Konul M

May 29, 2020

Əvvəlcə qeyd etmək istərdim ki, çox yaxşı bir kursdur. Əminəm ki, bu kursda əhatə olunan materialın intensivliyi və dərinliyi gələcək karyeram üçün müsbət təsir göstərəcəkdir. Təşəkkür edirəm.

By Alireza A B

Feb 9, 2020

Concepts in this course are presented very thoroughly with real life examples and Larry is a great teacher! Learnt a lot in this course and looking forward to the second portion of the course.

By Nguyen T T N

Feb 17, 2021

I have learned supply curve, demand curve, marginal revenue, marginal cost, markets, allocations, how to maximize profits, consumer and producer behavior,… The knowledges is very useful to me

By Shubh S

Jun 1, 2020

Though being a student in technical field, i was easy for me to become familiar with the subject, as all basics were point to point explained. Larry sir was amazing xD. "I have got the pen"

By Val S

Apr 12, 2020

Professor DeBrock is one of the best teachers I have ever encountered. He makes a daunting subject understandable. I can't wait for more of the same in the next microeconomics course.

By Rakesh S

Aug 23, 2017

Excellent course and very well explained every basic economic concept with real examples.

Thanks a lot Professor for allowing me to audit this course, wishing you a great success ahead!!

By Emehinola O O

Jul 7, 2020

It was a very interesting course. The instructor taught really well and all his teachings were very easy to understand. I learnt a number of valuable lessons and skills in this course.

By Steven H

Aug 12, 2020

Larry is an excellent teacher--clear, concise, and entertaining. This was a refresher course for me (I majored in Econ at Berkeley 40 yrs ago) and reminded me why I chose to study it!

By Ekansh k s

May 19, 2020

Very well taught concepts, Complete coverage of syllabus. Communication from Larry or Per reviews, this course has provided a great experience towards learning economics. Thank you :)

By Sandra G R

Jan 7, 2020

I did not expect that the economic was so interesting, Larry is excelent in all the videos, and made me want to learn more about the economy, curves, marginal, revenue and shoutdowns.

By Prasad P

Jan 14, 2021

Found the content extremely interesting. Mr DeBrock delivered the content in a simple and understandable way. Definitely recommended for any beginners wanting to get into economics.

By KINNARI S

Jul 27, 2020

Great course that gives you a deep understanding on how the different cost and revenue curves behave. i would especially like to thank the instructor for teaching us. Thank you.

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 madani s

Jul 14, 2021

larry im really honored to have you teach me with your kind teachinf skills and a charming humour...thank you for your atmost support in the completion of my course

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 9, 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 Shreya P

Jul 5, 2021

This course provides deep knowledge about firm level economics in the simplest language with great assignments for the judgement of delivered knowledge.

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.