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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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2,463 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

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.

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.

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151 - 175 of 574 Reviews for Firm Level Economics: Consumer and Producer Behavior

By Priya R

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Nov 5, 2020

Fantastic teacher who has explained the tough concepts of microeconomics in simple terms.

By Tam T

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Sep 12, 2019

Great course and Prof. Larry DeBrock is a very engaging. It is a joy to be in his class.

By Miguel O E

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Feb 10, 2020

Well organized course, clear, motivating. Very helpful to learn microeconmics from zero.

By Arya J K J

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Aug 4, 2020

This is a very nice course to take up. The professor explained each concepts very well.

By Sreehari S

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May 30, 2020

Good course , I can acheive an excellent knowledge about the firm behavior and economy

By S D

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Jul 14, 2020

Explanation is very simple and all basics are explained well, very easy to understand.

By Steven v d M

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Nov 5, 2017

What a great lecturer! Provides a perfect introduction for any beginner into Economics

By Reuben M M

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May 24, 2020

The classes were held very well and the explanations were given in a very simple way.

By Andrew P

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Sep 12, 2019

Great content and process. This was my first 糖心vlog官网观看 course and I really enjoyed it.

By Badrinath R

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Feb 11, 2018

Excellent explanation of the basic concepts and good insight into the subject matter.

By Prem T

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Aug 1, 2020

really nice course and the lecturer did an excellent job at explaining the concepts

By Edmundo A R Y

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Jul 8, 2020

Great course, Larry makes it very easy to understand economics. Thank you very much!

By Himanshu B A

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May 29, 2020

The course gives clear idea of controlling production as per the market conditions.

By Neha S J

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Aug 4, 2020

It's an amazing course. Very easy to understand. The explanation is very detailed.

By Santiago S

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Dec 14, 2023

Es de los mejores complementos para tu vida y para emprender en cualquier mercado

By Ilaha B

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Sep 14, 2021

Thanks to Mr Larry! Very interesting and engaging explanations! Love your vibes!

By DILIP K H

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Sep 13, 2020

Excellent design and direction......To enter and exit the course....... thnx.....

By Sakif A

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Jul 11, 2020

The course was fun and it had enough alternate resources. I enjoyed it very much.

By Fredrik E

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Feb 11, 2020

Excellent course material, great lectures, easy to follow a not so easy material.

By Anurag P W

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May 30, 2017

The course cleared the basics of firm level economics in a very efficient manner

By Emmanouil K

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Apr 17, 2017

Great class! Everything is explained in an intuitive manner. Highly recommended!

By Nicola M

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Feb 17, 2022

Professor Larry De Brock is probably the best instructor I've ever learned from

By D瓢啤ng N

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Sep 1, 2021

Outstanding quality, funny and supportive teacher . Love your teaching style!!!

By manish d

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Jun 8, 2020

The course is good as it is. This helped me recollect the maximum of the charts

By Santiago G M

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Jun 2, 2020

Very good course. Proffesor explains very well and it is easily understandable.