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Volver a Firm Level Economics: Consumer and Producer Behavior

Opiniones y comentarios de aprendices correspondientes a Firm Level Economics: Consumer and Producer Behavior por parte de Universidad de Illinois en Urbana-Champaign

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164 revisiones

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All goods and services are subject to scarcity at some level. Scarcity means that society must develop some allocation mechanism – rules to determine who gets what. Over recorded history, these allocation rules were usually command based – 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 in such a way as to find an equilibrium allocation of resources. We will construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Markets are frequent targets of government intervention. This intervention can be direct control of prices or it could be indirect price pressure through the imposition of taxes or subsidies. Both forms of intervention are impacted by elasticity of demand. After this course, you will be able to: • Describe consumer behavior as captured by the demand curve. • Describe producer behavior as captured by the supply curve. • Explain equilibrium in a market. • 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 the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and

Principales revisiones


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.


Sep 12, 2019

This was awesome. I did not know Firm Level Economics when I joined this course. The explanations were simple and Prof DeBrock explained really difficult concepts in a very easy to understand manner.

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1 - 25 de 160 revisiones para Firm Level Economics: Consumer and Producer Behavior

por Shahid N

Feb 04, 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.

por Michael T

Feb 12, 2018

Theoretical content is this course is excellent, but additional mandatory reading is necessary to understand all the math calculations and math theory in this course. If you don't have a good background in Calculus or Business Math, you will be at a disadvantages. Also, the articles, references, and supplemental textbooks are mostly out-dates (2 years old or more).

por MT

Nov 17, 2018

excellent course

por Ngo T P M

Nov 18, 2018

This course provides the fundamental knowledge about economy. I am satisfied with this course.

por Hamada S S

Jan 29, 2019

Great Course


Jan 31, 2019

Awesome. Learning.

por Gautham B

Feb 02, 2019

Incredible professor

por Vivek B

Feb 04, 2019

Excellent Course, Thank you!

por Jay K

Feb 04, 2019

whole a lot to learn from this course

por Meena G

Feb 05, 2019

Great course!


Nov 12, 2018

easy understanding and in dept explanation

por Dejan C

Jan 21, 2019

Exceptional course! Enjoyed watching and reading. So much new interesting and useful learnings.

por Ambarish N

Feb 10, 2019

It is an excellent introduction to price theory. Loved the simple and efficient quizzing and teaching techniques.

por Raj B

Feb 09, 2019

Excellent course with strong fundamentals and in depth concepts

por Cheihlun C Y

Feb 09, 2019


por Joe F

Feb 06, 2019

Professor Larry is awesome! He makes Economics interesting and understandable. I was a little hesitant about this class since I have taken this subject as part of my undergrad ( a few years back) but Prof Larry does a great job in using real world scenarios as part of his learning as opposed to just theory. Well done!

por Gerardo A J

Feb 07, 2019

Great course


Feb 26, 2019


por Noah M

Feb 27, 2019

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

por Kausar K

Mar 01, 2019

Learned a lot on Supply & Demand and different markets in this course. The course is well written/prepared and had a fun time going thru this.

por Sohaib F

Feb 28, 2019

Very interesting course for learning price theory

por Keith K D

Mar 03, 2019

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

por Innocent O

Mar 18, 2019

The course was well understood as the instructor made everything seem so easy

por Kamal A

Dec 16, 2018

Great Course to Start learning Economics

por Iruansi I

Aug 04, 2018

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