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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
2,534 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

G

Jun 30, 2020

This course was really awesome. Well explained. My confusion also get cleared regarding those. Thanks to my peer also. Because their review meant lot to complete 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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376 - 400 of 593 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Pierre L

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Oct 18, 2016

Excellent course.

By Azizli R U

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Apr 3, 2021

Thanks Coursera!

By DANDU S S R R 1

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Feb 12, 2021

VERY INFORMATIVE

By sk36 s

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Nov 18, 2020

I learned a lot!

By Savitha R

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Nov 7, 2020

It's very useful

By Yash M

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Sep 26, 2020

Best course evet

By Nadar s

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Sep 22, 2020

Interesting.....

By indrajit p

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Aug 4, 2020

excellent course

By A N

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May 2, 2020

Excellent course

By Russell

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Feb 10, 2020

Very good course

By Anthony C j

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Sep 17, 2019

Loved the class!

By MT

•

Nov 17, 2018

excellent course

By Libor T

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Apr 4, 2017

good recolection

By Keith M K

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Nov 16, 2016

Great instructor

By Charbel M

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Oct 29, 2020

Good experience

By FATHIMA P L

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Jul 10, 2020

Nice experience

By M A G

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Jun 3, 2020

Nice experience

By Christopher C

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Jun 2, 2016

Very well done!

By Anush V

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May 12, 2025

amazing course

By Sakshi D

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Sep 6, 2021

amazing course

By Bawa J D

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Jul 8, 2020

amazing course

By Manan S

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Jun 9, 2020

Amazing course

By krishnath s

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Feb 16, 2020

Great course !

By Karthik S J

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Jan 25, 2020

Great lectures

By 王越阳

•

May 25, 2017

nice professor