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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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26 - 50 of 599 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Chandra B

•

Dec 18, 2025

Please open for question & queries to complete the session

By PRREMITHA J

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Jun 11, 2025

Great explanation and walk thru about supply demand .

By Abhijit J

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Feb 14, 2026

verry good to learn very good study material ..

By Gyanabrata L

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Jul 19, 2025

Excellent course for anyone new to economics.

By EZNI S B N K (

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Mar 29, 2026

i like it a lot, enhance my knowledge

By Mamta M C

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Dec 1, 2025

loved the teaching of the Instructor.

By Pranav T

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Jan 5, 2026

This course was invaluable.

By HERNAN M

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Feb 1, 2019

Awesome. Learning.

By Darshan A R

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Dec 17, 2025

Nothing

By Mohd F I

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Jun 10, 2025

Great.

By Vikrant T

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Dec 16, 2025

Great

By Abid F F

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Mar 21, 2026

good

By Sachin S

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Nov 12, 2025

Good

By Srikanth N

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Sep 4, 2025

good

By GĂ–RKEM K

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Jan 25, 2026

...

By Vikas K R

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Oct 7, 2025

nil

By Dev C

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Jan 11, 2026

na

By heather m

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Aug 10, 2017

The material in the course is good. The professor is great, and passionate about his profession. The peer review and quizzes covered information that was not presented in the course. Also, the peer review answers are not presented until after the the "week" is over. This means that as a "peer" I have no idea what the correct answer is and I am forced to grade assignments based on my opinion not the correct answer. This causes a lot of confusion. I had someone give me "0" points for an answer that was exactly the same as the answer key because the other student didn't understand what the questions was asking for. My rating of this class would improve significantly if the peer review solution was provided before students were required to review others. Since we are able to complete the solution as many times as necessary, this step is a waste of everyone's time.

By Gregory S

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Jun 1, 2021

Decent information, but a lot of the class is made of chopped-up portions of other lectures, and several of the quizzes have answers which are simply not correct, or which do not have correct answers available. Additionally, every student gets the same question on the peer-reviewed final wrong (Q1, "Is this in equilibrium?"), which indicates that the lectures do not adequately teach what the students are intended to learn.

By NOR A A R

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Dec 10, 2025

too hard to understand

By James B

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Feb 18, 2020

Below average economics course. The instructor is all over the place and sometimes appears to be making things up as he goes along. He rambles a lot sometimes misses the point.

By Yash S

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Jan 15, 2026

why am i not recieving my certifcate after i completed my course

By Kandha S

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Jan 13, 2026

they dont give certificate and technical glitch never goes away

By Monica B

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Apr 28, 2020

Larry is an extremely extremely good and capable teacher! He sure knows what he's talking about and teaches the concepts in a storytelling way which enabled me to retain them very well. Moreover, the quizzes make you think beyond what was said verbatim in the lectures. It really tests whether you have really understood not just the concepts standalone, but their connections. All in all a very good course with a very good teacher!

By Sameena A

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Jun 14, 2020

In this course, i have learnt that 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.

Thank you so much for giving me this opportunity to learn and gain an excellent skill.