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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
2,530 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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301 - 325 of 591 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Kalpana v

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Jan 7, 2022

it was more of fun and enriching

By James S

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Mar 5, 2018

Great class and great Professor!

By Yannick D

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Dec 11, 2023

Professor DeBrock is very good.

By Dharmesh K K

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Dec 27, 2020

very good knowledge in coursera

By ritesh j

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Jun 12, 2020

Very good course for beginners.

By Niraj S T

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Aug 22, 2023

Consumer and Producer Behavior

By Akhmadaliev M

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Jan 4, 2022

It was great course. Thank you

By Jaya P S K

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Jul 26, 2020

Excellent course! Very usefull

By Bandi L R 2

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Oct 25, 2022

It is useful to learneallearn

By isaac s

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Dec 14, 2021

great course, good instructor

By Charbel M M

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Nov 1, 2020

Good course i learn very much

By RAHUL

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Jul 17, 2020

It was an amazing experience.

By Shayne M

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Dec 20, 2020

Amazing and really enriching

By Jasir J

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Jul 16, 2020

Excellent teaching method...

By Jason T

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Feb 9, 2020

Larry teaches a great class!

By Vivek B

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Feb 4, 2019

Excellent Course, Thank you!

By Pranav T

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Jan 5, 2026

This course was invaluable.

By RAMANNA S

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Jul 23, 2020

Well designed and delivered

By Joshua F

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Dec 2, 2019

Very good start to my iMBA!

By John K Y

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Aug 18, 2018

It was a great experience!!

By Himani G

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Jul 26, 2022

I had very good experience

By Thúy T P T

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Mar 7, 2021

The course is very helpful

By PRAVEEN K K S J

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Aug 10, 2020

it was good to learn here.

By Zabin T

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Jun 20, 2020

This course is so helpful.

By Xaqan N

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Apr 20, 2021

The course is excellence.