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Über den Kurs

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 onlinemba.illinois.edu....

Top-Bewertungen

FP

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.

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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1 - 25 von 199 Bewertungen für Firm Level Economics: Consumer and Producer Behavior

von 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.

von Laleen D

Mar 07, 2018

I took Micro Econ over 20 years ago. It was hard and boring. I barely passed the class. I just took Larry DeBrock's class and fell in love with the area. I had no idea that micro economics could be so interesting! It also helps that Larry DeBrock is an award winning lecturer at University of Illinois and past Dean of the ?business School. He takes the topic and breaks it down into easy-to-understand basics. I really enjoyed this class.

von Dennison L

Feb 10, 2020

Professor DeBrock teaches a fine course. However, the assignments and graded content are tested at a much higher/more in-depth level then what is taught. Most of the questions are theoretical movements of demand, supply, costs, taxes, and etc that are not well covered in the lectures and not at all covered in the readings. The quizzes do not give you the correct answer either nor any explanation. I understand this is to prevent cheating, but it is unhelpful to basically brute force the quizzes to get it right - and still not understand why you are right/wrong.

von 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).

von Malki B

Feb 10, 2020

As the first class I've taken since 1995, I will say that this is extremely challenging and invigorating. I really appreciate being given the tools of office hours and Khan academy to support my learning. I look forward to further training my mind and managing my time through work and life, to stay focused on the tasks set forth in the class. I believe in myself and even if I have to watch the videos 10 times, I will succeed.

Best M Brown

von 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!

von Dan M

Feb 07, 2018

Great exposure to the fundamentals of Microeconomics. Also, the platform of videos (rather than live lectures) means that the discussion never runs away from you. Not clear on what was just discussed? Rewind a few seconds and watch it again. And Prof. DeBrock does a great job of laying things out.

von Ojeogwu H I

Feb 01, 2020

Professor Larry Debrock has been wonderful and a blessing to my success in thus course. His added some fun in my learning and even when I had other things to do i was always eager to listen to his videos.

Very comprehensive detailed analysis of every topic he made it easy to understand.

von Andras I

Nov 24, 2019

Great course! Professor DeBrock almost makes it seem too easy, very engaging and charismatic presenter. After the course I had a bit of feeling it might be missing a few things, I've read a couple of books to realise that his way is more coherent and logical. So I highly recommend it!

von JEFFREY H

Mar 16, 2020

This was my first economics course and the delivery was outstanding! It was a lot of information but the many real world examples made it easier to understand. I have a new and better understanding of how the market works as a result of taking this class.

von Jayaprakash V

Jan 28, 2018

This help me understand how price plays a role in demand and supply. how does those changes when government intervenes. Also i learned about marginal costs etc. Professor Larry is a distinguished professor. His knowledge and presentation skills are awesome.

von M. L J

Mar 06, 2016

I thoroughly enjoyed Professor DeBrock's course. He did a fantastic job of illustrating important concepts without muddying the water with unnecessary jargon. I'm looking forward to continuing in the specialization with DeBrock at the helm. Thanks again!

von Martin C

Feb 11, 2016

This is a great course! Gary teaches always with a smile on his face and with great everyday life examples! I loved it because it provides great insights for corporations or ventures by linking econ. theories to businesses. Thanks a lot! Great teacher!

von Crismely P

Feb 06, 2016

I truly enjoy this course because I am using the knowledge I acquire during the lectures and applying it to complete assignments instead on relying on quizzes along to gauge my understanding. The assignments are based on real world examples.

von Harsha M

Feb 25, 2020

Dr. Larry is an exception professor and educator. I learned a lot on Firm cost optimizations and will not forget the real life examples and bubbles (to remind) us to think and explore.

Thank you again Dr. Larry.

Regards,

Harsha Mahadev

von P. D K

Feb 11, 2017

Learned a lot about the fundamentals of supply and demand, and other related topics. Lectures were informative and enjoyable. Assignments tested fundamental knowledge. Recommend to anyone interested in the basics of economics.

von Sumanth R

Sep 14, 2019

I was surprised by both the intensity and depth of material covered in this course. At the same time I think the pace of course was manageable within the recommended hours. Looking forward to my next courses on this subject.

von Aninda B

May 02, 2016

Loved it throughout! If you have an introductory background of algebra and differential calculus, you will love this even more. Professor really knows his job, and he is doing great. Thumbs up! Thank you very much professor.

von Anurag P

Feb 21, 2016

good course to enroll in , will not disappoint you especially if you are new to economics , the instructor is very good and grading pattern is a lot of fun .not for economics major there is nothing in here for you folks ..

von Jai P

Aug 31, 2018

The sessions were made very interactive and easy to follow, especially because of the graphical story telling ability of the Professor. It is not just boring equations, but a lively interaction. Thanks Prof. Larry!

von Akshay H

Dec 11, 2017

Excellent course by Prof. Larry Debrock!

How does a market work? How is the price of a product decided? When should you shutdown a firm? and a lot more.

This is the course to get introduced to Economics.

von Bruno C

Aug 09, 2017

Excellent professor.

Content well structured, videos, slides, quizz, assignments.

Support material and recommended reading also well structured.

Congratulations!

I was addicted until finishing in <2weeks!

von Kartikeyan S

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.

von Fernando P

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.

von J 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.