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

Firm Level Economics: Markets and Allocations

This course is part of Managerial Economics and Business Analysis Specialization

Taught in English

Some content may not be translated

Larry DeBrock

Instructor: Larry DeBrock

40,798 already enrolled

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Course

Gain insight into a topic and learn the fundamentals

4.9

(1,035 reviews)

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97%

Intermediate level
Some related experience required
18 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

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Assessments

13 quizzes

Course

Gain insight into a topic and learn the fundamentals

4.9

(1,035 reviews)

|

97%

Intermediate level
Some related experience required
18 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

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This course is part of the Managerial Economics and Business Analysis Specialization
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There are 5 modules in this course

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

What's included

2 videos6 readings1 quiz1 discussion prompt

This module introduces the concept of a perfectly competitive market. It is a benchmark construction, but it accurately models many markets in our economy. We will understand equilibrium outcomes in both the short run and the long run. We will understand how to analyze shocks to these equilibria.

What's included

12 videos2 readings3 quizzes

Analysts can predict equilibrium outcomes with some degree of certainty. We want to construct a measure of efficiency that will allow us to evaluate the attractiveness of these equilibrium market outcomes. After using this metric to consider the efficiency of the competitive market, we will introduce a different market structure, monopoly, and use our efficiency metric to evaluate the equilibrium resource allocation under monopoly.

What's included

10 videos2 readings3 quizzes

Perfectly competitive markets have many sellers. Monopoly has one seller. But much economic activity takes place in markets with just a handful of very large producers. These are called oligopoly markets. We will look at collusive arrangements among a small number of rivals, and then will use simple game theoretic techniques to model equilibrium.

What's included

15 videos2 readings3 quizzes

Sometimes even markets that appear to be capable of great efficiency in resource allocation, such as the perfectly competitive market, can fall short of efficiency. Economists call this market failure. In this module, we will consider information issues and the impact on efficiency. We will also introduce externalities (spillovers) such as pollution and model these impacts.

What's included

9 videos5 readings3 quizzes1 peer review1 plugin

Instructor

Instructor ratings
4.8 (159 ratings)
Larry DeBrock
University of Illinois at Urbana-Champaign
2 Courses96,082 learners

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