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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
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2,476 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 鈥渞ations鈥� the scarce commodity. You will be able to: 鈥� Describe consumer behavior as captured by the demand curve and producer behavior as captured by the supply curve 鈥� Define equilibrium and explain the impact of taxes and price controls on market equilibrium 鈥� Explain elasticity of demand 鈥� 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鈥� suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your 糖心vlog官网观看 work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/....

Top reviews

KS

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.

S

Feb 17, 2020

Larry is one of my all time favorite professors. No one teaches price theory like him. He makes the material entertaining and creates an enjoyable learning experience. I wish he taught more courses.

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526 - 550 of 578 Reviews for Firm Level Economics: Consumer and Producer Behavior

By ADVAIDH S N

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Apr 27, 2025

Very resourceful. Helps you grasp the basic concepts of economics.

By HAWK R

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May 11, 2020

Good course. Imperative to take notes and review transcript.

By adwoa a

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Apr 23, 2021

It was a tough course but worth studying. Thanks 糖心vlog官网观看

By Ed V

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Feb 18, 2020

module 4 needs a little bit more work for extra clarity.

By SAILI S S

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Sep 23, 2023

It was an overall great learning experience.

By Ali G

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Nov 17, 2020

I like the way Dr. Larry teach this class

By Roy W

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Sep 9, 2019

Need more video examples of problems.

By Faig K

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Jan 29, 2018

There a lot of graphs on this course.

By Bob H

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Mar 10, 2017

Really liked the peer review process.

By ricardo p o

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Apr 5, 2017

great course, clear and dinamic.

By U16CE007 T S

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Dec 3, 2020

Prof. Larry DeBrock was amazing

By Deleted A

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Aug 24, 2020

ISSUES IN RECEIVING CERTIFICATE

By NAKHEEB S M

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Sep 22, 2023

Good to learn something new

By Jun Z

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Mar 3, 2017

A useful elementary course.

By SARMAD H

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Nov 24, 2020

very informative course

By bisma i

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May 28, 2019

Good experience of mine

By 膼岷 N Q

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Oct 23, 2020

very practical lesson.

By Clare P

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May 23, 2016

It is well organized.

By Keron S W

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Oct 15, 2020

Thank for knowledge

By Fedor G

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Mar 14, 2016

Really good course!

By POOJA V L

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Oct 9, 2020

Good to learn more

By Kayphet I

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Apr 6, 2021

Wonderful course!

By Harshida K

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May 15, 2020

Good course ever.

By ANURAG T

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Apr 18, 2021

Happy learning

By Siddharth N

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Nov 27, 2020

Great content