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Learner Reviews & Feedback for Firm Level Economics: Consumer and Producer Behavior by University of Illinois Urbana-Champaign

4.8
stars
2,513 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

R

Oct 3, 2022

T​his is a very powrefull course about Economics, Consumer and Producer. Everyone must go through this course and its not that much easy as much people may guess about this.T​hanks

FP

May 13, 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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251 - 275 of 587 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Cezanne P

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Mar 21, 2021

Larry is a great instructor. Very human approach

By Javier E P

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Aug 2, 2016

Loved the course. Had a wonderful time studying!

By CANTORNE, J B

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Dec 17, 2020

It was able to help me in my subjects in school

By 19UCO123 C A D

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Dec 4, 2020

very useful and wonderful to students to study.

By Vaibhav D

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Jul 4, 2020

economics made easy to understand. helped a lot

By Moubana A K

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Jan 14, 2018

Excellent course for business decision making .

By Alexander R

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Nov 12, 2020

Great course! Learned a lot from Dr. Debrock.

By Devin P

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Nov 10, 2020

I had a fantastic experience with this course!

By Gyanabrata L

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Jul 19, 2025

Excellent course for anyone new to economics.

By DENIS K B A (

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Jan 10, 2025

Very good online class and easy to understand

By Rohit G

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Mar 26, 2023

A quick course which is very informational :)

By Ponnusamy J

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Nov 30, 2021

Prof Larry is fantastic guy. Excellent course

By Hoàng H C

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Mar 16, 2020

Good lesson & it is very useful. Thanks a lot

By Harish G

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Nov 11, 2020

Amazing course and content by Prof LeBrock !

By Fahim A R

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Jun 8, 2020

This course explains economics at its roots!

By jodu p b

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May 30, 2020

Its great thing to learn from economic sides

By Esteban G

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Apr 11, 2020

Excellent course, the instructor is awesome!

By dileep k

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Nov 22, 2021

The professors' teaching style is too good.

By Akriti S

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Jul 11, 2020

Great course! Strengthened my fundamentals!

By Lorenzo B

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Jul 14, 2020

Exciting course and excellently explained.

By MCENROE N T E

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Nov 12, 2018

easy understanding and in dept explanation

By Andre F

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Nov 18, 2016

Excellent course with a great explanation.

By Apoorva

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Oct 6, 2020

I learned demand, supply and English too.

By Adam D

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Aug 10, 2016

Larry is really engaging. Great lectures.