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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

2,396 ratings

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

Top reviews


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.


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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126 - 150 of 557 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Yasmine S

Mar 29, 2021

I learned a lot about economics in general and how to increase profits......Thank you, especially professor

By Esther C

Sep 10, 2020

This course has helped me so much. also, the teacher has been exceptional in helping me understand clearly

By Troy Q

Nov 11, 2020

Straight forward lessons and sound instruction from professor. He keeps it relatable and understandable.

By Suraj D

May 27, 2020

It was very well taught by Professor Larry. I'm looking forward to take more of the courses taught by him

By Neha N

May 21, 2020

Larry de Brock is one the best teachers you can get . he is just amazing, makes learning so easy and fun

By Guilherme C

Jun 4, 2017

Great content, very objective. The teacher was very clear and used relevant examples to make his points.

By Ashna

May 23, 2020

Really very much informative .Learnt a lot. Got a new dimension about the subject. Amazing experience .

By German E G T

Apr 29, 2020

It is an excellent course for those who want to take their first steps in the consumer and firm theory.

By Abdullah I M I A

Aug 20, 2023

Excellent course overall. It may be challenging, but the reward of learning opportunities is worth it.

By Deleted A

Jun 25, 2017

I enjoyed studying this course! Thanks Larry! I liked the video lectures and the real-life examples.

By Maria D D

Mar 27, 2016

nice course, with links to additional reading materials... well thought and good for busy person :-)

By Doug R

Sep 10, 2019

Excellent course. Well organized and prepares you well to go forward in deeper into microeconomics.

By neal c

Nov 12, 2020

Larry is a great lecturer - his enthusiasm and examples make a dry subject much more interesting

By mujtaba s

Jul 5, 2019

good course, the khan academy videos are a must watch if you want to full understand the concept.

By Felipe M

Jul 7, 2020

This is a great course. I had so much fun learning about this topic, which is totally new to me.

By Lorena R

Jun 23, 2020

Excellent explanation and material. Some links don't work but the other material is very helpful

By Pedro J M D

Apr 19, 2020

Larry hace la explicacion de los conceptos algo muy facil, se disfruta y aprende mucho el curso.

By Oscar C

Feb 13, 2020

Very insightful and professor provides clear explanations of the material covered in the class.

By Dejan C

Jan 21, 2019

Exceptional course! Enjoyed watching and reading. So much new interesting and useful learnings.

By Nana N

Nov 17, 2018

This course provides the fundamental knowledge about economy. I am satisfied with this course.

By Shubham P

Apr 28, 2020

A very good course to understand microeconomics. Thanks to Mr Larry for making us understand.

By Getahun K

Jun 9, 2017

It is a very good course which gives a good insight regarding consumer and producer behavior.


Aug 5, 2020

I totally had a new insight about consumer and Producer behavior,and also gained knowledge.

By Rohit M

Jul 12, 2020

One of the best instructor on the Coursera, explains each concept very easy to understand.

By Priya R

Nov 4, 2020

Fantastic teacher who has explained the tough concepts of microeconomics in simple terms.