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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
2,517 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

KK

Jan 20, 2022

Professor Larry DeBrock has a very hands on approach to the concepts of economics. He integrates theoretical content with relevant practical examples , helping to understand the framework easily.

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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401 - 425 of 587 Reviews for Firm Level Economics: Consumer and Producer Behavior

By SWETHA S

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Jan 6, 2021

easy to learn

By Le T T V

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Jun 25, 2020

Thank for all

By sulthana S

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May 28, 2020

Useful course

By Emiliano A

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Feb 17, 2020

Great course!

By Artem A

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Sep 6, 2019

Great course!

By Meena G

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Feb 5, 2019

Great course!

By Luis R A

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Mar 14, 2017

Great course!

By Aditya K

•

Apr 22, 2025

Great Course

By Aakriti.

•

Aug 23, 2022

GOOD COURSE.

By Khoder K T

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Jan 17, 2021

thanks a lot

By R. R K

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Dec 10, 2020

it was great

By Malika P P

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Oct 12, 2020

Great course

By Mancha J S

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Jul 26, 2020

Great course

By Vidushi G

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Jun 23, 2020

Great Course

By Gerardo A J

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Feb 7, 2019

Great course

By Hamada S

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Jan 29, 2019

Great Course

By Nikolaos P

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Mar 4, 2018

Great Course

By Oryngali T

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Apr 13, 2025

good course

By Obaidullah Z

•

May 20, 2024

it was good

By Haygen S

•

Dec 2, 2022

nice.......

By Keerthana

•

Feb 3, 2021

Really good

By Nguyễn T H H

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Dec 7, 2020

many thanks

By Renju P

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Nov 24, 2020

nice course

By Ishara S S

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Oct 30, 2020

Good course

By OLALEKAN O R

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Aug 22, 2020

Nice course