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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 Urbana-Champaign

4.8
stars
2,544 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 https://degrees.giesbusiness.illinois.edu/idegrees/....

Top reviews

EO

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.

JA

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.

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201 - 225 of 599 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Innocent O

Mar 18, 2019

The course was well understood as the instructor made everything seem so easy

By Janhavi B

Sep 18, 2020

Amazing Course. Prof. Larry DeBRock has wonderfully explained every concept.

By Mohammad E

Jul 14, 2020

Needs more attention from instructors/TAs to the forums. Otherwise, awesome.

By anjali g

Nov 10, 2020

Complicated subject explained in a simple way! We love you Prof. DeBrock..

By Kanwar S S

Apr 1, 2019

GREAT COURSE. iNSTRUCTOR WAS EXELLENT. GREAT EXPLANTIONS AND GOOD COVERAGE.

By Mayra S

Sep 13, 2021

Professor Larry is so energetic that makes the class easier to understand.

By Thuần N T

Dec 19, 2020

Great knowledge to learn and apply to the business with overview foreseen,

By Joel A A R

Jul 15, 2020

Professor was great, all information also great! enjoyed a lot this course

By Sabbir H E

Feb 17, 2023

Very informative and learned a lot of insights into Firm Level Economics.

By Sergey D

Mar 28, 2021

It was nice and useful. Professor's explanations were detailed and clear.

By Abhijeet G

Dec 24, 2020

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

By Subhadeep G

Nov 15, 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 Shego A

Feb 13, 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 12, 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 Dihan M

Jul 21, 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 19, 2018

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

By Zawad H

Mar 14, 2021

Really enjoyed and understood the videos

Thank you Prof Larry DeBrook

By Ekwuno U J

Jul 7, 2020

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

By Myra A H

Dec 11, 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