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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
2,490 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

JA

Sep 19, 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.

SH

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!

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176 - 200 of 583 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Nicola M

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Feb 16, 2022

Professor Larry De Brock is probably the best instructor I've ever learned from

By Dương N

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Sep 1, 2021

Outstanding quality, funny and supportive teacher . Love your teaching style!!!

By manish d

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Jun 7, 2020

The course is good as it is. This helped me recollect the maximum of the charts

By Santiago G M

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Jun 2, 2020

Very good course. Proffesor explains very well and it is easily understandable.

By david a g

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Apr 29, 2020

Loved this course and loved tuning in to hear Larry teach it. Very good course!

By Yu Y

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Feb 24, 2018

A good introduction for many basic concepts on demand and supply. Nice teacher.

By Innocent O

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Mar 17, 2019

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

By Janhavi B

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Sep 17, 2020

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

By Mohammad E

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Jul 13, 2020

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

By anjali g

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Nov 9, 2020

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

By Kanwar S S

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Mar 31, 2019

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

By Mayra S

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Sep 12, 2021

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

By Thuần N T

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Dec 18, 2020

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

By Joel A A R

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Jul 15, 2020

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

By SABBIR H E

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Feb 17, 2023

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

By Sergey D

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Mar 27, 2021

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

By Abhijeet G

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Dec 23, 2020

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

By Subhadeep G

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Nov 14, 2019

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

By Woo S L

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Sep 12, 2019

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

By Shego A

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Feb 12, 2017

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

By Daniel T

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Mar 25, 2016

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

By Danesh D

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Sep 11, 2019

Excellent. Very straightforward and simple presentation of the concepts!

By Vusal T K

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Feb 7, 2016

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

By Dihan M

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Jul 20, 2020

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

By Jiayi S

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Oct 16, 2020

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