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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
2,483 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

SN

Feb 3, 2019

Absolutely made me understand firm level economics concepts. Good practice and foundation building.Professor is great and engages will with real life examples and connections.

KM

May 28, 2020

Əvvəlcə qeyd etmək istərdim ki, çox yaxşı bir kursdur. Əminəm ki, bu kursda əhatə olunan materialın intensivliyi və dərinliyi gələcək karyeram üçün müsbət təsir göstərəcəkdir. Təşəkkür edirəm.

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201 - 225 of 579 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Ekwuno U J

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Jul 6, 2020

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

By Myra A H

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Dec 10, 2020

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

By Jasen H

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Oct 8, 2020

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

By Khushi N

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Aug 29, 2020

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

By Keith K D

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Mar 3, 2019

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

By Adam D

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Oct 25, 2021

Learn alot related to Consumer and Producer Behavior in economics

By Nandan S

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Nov 19, 2020

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

By TANG F

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Jun 11, 2016

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

By Aalish K

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Sep 14, 2020

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

By Noah M

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Feb 27, 2019

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

By Khomotso M L

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Aug 8, 2016

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

By LE P P

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Feb 13, 2021

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

By Thahseen M

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Dec 19, 2020

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

By Raj B

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Feb 9, 2019

Excellent course with strong fundamentals and in depth concepts

By Reece M

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Jan 20, 2018

Excellent for those looking for an introduction into economics!

By Nguyen N S

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Feb 28, 2021

Know about consumer and Producer Behavior and decision making

By Joe N

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Sep 9, 2019

Very useful and intuitive! Prof DeBrock is a great lecturer!

By Pham C K

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Sep 14, 2019

Very easy to follow the videos and complete the assignments.

By Bruno A

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Feb 13, 2018

Very good hints, examples and it can be applied to any firm.

By Upasna T

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Apr 19, 2019

very informative, very smooth teaching techniques. loved it

By Mauricio P

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Jul 5, 2020

Very interesting course. Thanks Professor Larry DeBrock!!

By Iruansi I

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Aug 4, 2018

It was very engaging and refreshing. I enjoyed the course.

By Huy K P

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Mar 22, 2021

a lot of knowledge and skill can receive from this course

By Sean R P I

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Nov 6, 2020

I have learned a lot of new concepts. Thank you so much.

By Mrs G

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Sep 28, 2020

very clearly explained all the facts. enjoyed the course