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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

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.

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.

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176 - 200 of 504 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Abhijeet G

Dec 23, 2020

great content ...practice exercises can be added to improve understanding

By Subhadeep G

Nov 14, 2019

Very well covered session. Great course to make your Fundamentals strong.

By Woo S L

Sep 12, 2019

The course covered all major components required to understand the topic.

By Olusegun A

Feb 12, 2017

Excellent teacher! Made microeconomics micro easy. Prof. DeBrock rocks!!!

By Daniel T

Mar 25, 2016

Excellent course! High quality video/audio and it is organized very well.

By Danesh D

Sep 11, 2019

Excellent. Very straightforward and simple presentation of the concepts!

By Vusal T K

Feb 7, 2016

Professor is great at explaining complex notions. Very well structured!

By Mustakeem D D 1

Jul 20, 2020

Very well designed course. Helped me re-learn the basics of economics.

By Jiayi S

Oct 16, 2020

Thank you so much Larry! Great content and very informative sessions!

By Andreas A

Jan 18, 2018

Very clearly presented. I like the many intuitions that are provided.

By AHMED Z H

Mar 14, 2021

Really enjoyed and understood the videos

Thank you Prof Larry DeBrook

By Ekwuno U J

Jul 6, 2020

The lecturer made this course seem easy even the not so easy parts.

By Myra A H

Dec 10, 2020

This is a great course. I learned a lot from Prof. Larry De Brock.

By Jasen H

Oct 8, 2020

Dr. Larry is an awesome teacher. I enjoyed this class quite a lot.

By Khushi N

Aug 29, 2020

Good efforts taken by them a new opportunity to learn free of cost

By Keith K D

Mar 3, 2019

Great course, professor is really good at explaining the concepts.

By Nandan S

Nov 19, 2020

Excellent course can be taken up by anyone intending to start up.

By TANG F

Jun 11, 2016

Good lecture, good material, but the peer review part is sucks...

By Aalish K

Sep 14, 2020

It was such a marvellous experience for me to pursue this course

By Noah M

Feb 27, 2019

Never look at a jar of mayonnaise the same again! Thanks Larry!

By Khomotso M

Aug 9, 2016

a well thought-out best course... It's so enriching and engaging

By LE P P

Feb 13, 2021

I learned a lot from this program. Thank you so much, teachers.

By Thahseen M

Dec 19, 2020

all the modules are very well explained and easy to understand.

By Raj B

Feb 9, 2019

Excellent course with strong fundamentals and in depth concepts

By Reece A M

Jan 20, 2018

Excellent for those looking for an introduction into economics!