Back to Firm Level Economics: Markets and Allocations
University of Illinois Urbana-Champaign

Firm Level Economics: Markets and Allocations

In markets, prices act as rationing devices, encouraging or discouraging production and consumption to find an equilibrium. In this course, you will learn to construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Additionally, the course examines the ways in which markets are subject government intervention and the impacts of these interventions. You will be able to: • Explain how different market structures result in different resource allocations • Model the impact of external shocks to a particular market structure and demonstrate the new equilibrium price and quantity after the impact of this external shock has played out • Evaluate the efficiency of an equilibrium • Explain when and why the government might intervene with regulatory authority or antitrust litigation to lessen inefficiencies in some markets • Describe how information problems can cause inefficient outcomes • Understand externalities and consider optimal government response to these market failures 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/.

Status: Market Analysis
Status: Environmental Policy
IntermediateCourse19 hours

Featured reviews

VV

5.0Reviewed Apr 25, 2020

The whole course was just amazing with clear and crisp explanation for each and every detail and special thanks to the tutor Prof.Larry DeBrock.

RV

5.0Reviewed Mar 22, 2016

I like this professor and he taught beautifully even in Producer and Consumer behavior, the prequel course in this specialization. High expectations from this course!

N

5.0Reviewed Jul 14, 2016

Excellent course and excellent mentor who can really make you to rediscover the economy and love it much more than before. Great thanks.

JP

5.0Reviewed Mar 2, 2018

Larry DeBrock is a fantastic professor. He breaks down concepts into consumable portions and offers real-life scenarios to keep it interesting. He changed microeconomics for me!

JF

5.0Reviewed Mar 4, 2019

Professor DeBrock made the class very interesting with great real-world examples. I feel that I have learned so much from this class that I will carry with me throughout my career.

NK

4.0Reviewed Aug 31, 2020

wonderfull experience to learn about firm level economics with Larry one of the best sir who taught me in a very easy way thank you

LD

5.0Reviewed Mar 6, 2018

Prof. Larry DeBrock makes very complicated concepts seem simple and understandable. He shows how to apply the concept to contemporary relevant issues. I sincerely loved this class.

MS

5.0Reviewed Mar 1, 2021

I found this course very informative. Dr. Larry is an excellent instructor who can break down complicated theories into easily understandable examples.

SY

5.0Reviewed Oct 9, 2019

Prof. DeBrock is the kind of teacher that can make you excited about a topic you have never looked at before. I hugely enjoyed this course!

KP

5.0Reviewed Feb 26, 2019

I really enjoyed this class. My last econ class was in high school, so I was a little worried, but Professor Brock made things easy to understand. Thank you!

VS

5.0Reviewed Nov 25, 2020

Professor Larry is exceptional. He has a deep understanding of the subject and an effective teaching style. I am honored to take his course.

RR

5.0Reviewed Nov 30, 2020

Learnt a great deal about Microeconomics! Prof. DeBrock teaches the class with great insights mixing history with everyday situations and issues. Can't say enough good things about this course!

All reviews

Showing: 20 of 215

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