UIUC - Firm Level Economics: Consumer and Producer Behavior
- Offered byCoursera
Firm Level Economics: Consumer and Producer Behavior at Coursera Overview
Duration | 17 hours |
Start from | Start Now |
Total fee | Free |
Mode of learning | Online |
Difficulty level | Intermediate |
Official Website | Explore Free Course  |
Credential | Certificate |
Firm Level Economics: Consumer and Producer Behavior at Coursera Highlights
- Shareable Certificate Earn a Certificate upon completion
- 100% online Start instantly and learn at your own schedule.
- Course 1 of 7 in the Managerial Economics and Business Analysis Specialization
- Flexible deadlines Reset deadlines in accordance to your schedule.
- Approx. 17 hours to complete
- English Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, Spanish
Firm Level Economics: Consumer and Producer Behavior at Coursera Course details
- 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.
Firm Level Economics: Consumer and Producer Behavior at Coursera Curriculum
Course Orientation
Welcome to Firm Level Economics: Consumer and Producer Behavior!
Syllabus
ePub
About the Discussion Forums
Glossary
Updating Your Profile
Orientation Quiz
1-1.1. Scarcity and its Implications
1-1.2. Opportunity Costs
1-1.3. Demand Curves
1-2.1. More on the Demand Curve
1-2.2. Movements Along vs. Shifts in the Demand Curve
1-2.3. Constructing the Supply Curve
1-2.4. Movements to New Equilibrium
Module 1 Overview
Module 1 Readings
Lesson 1-1 Practice Quiz
Lesson 1-2 Practice Quiz
Module 1 Quiz
Module 2: Government Intervention in Markets
2-1.1. Setting Dairy Prices
2-1.2. Government Intervention
2-1.3. Direct Price Controls: Price Floors
2-1.4. Direct Price Controls: Price Ceilings
2-2.1. The Price You Pay at the Pump
2-2.2. Excise Taxes
2-2.3. The Incidence of Taxation
2-3.1. Higher Tuition Yet More College Applications
2-3.2. Responsiveness of Quantity Demanded and Elasticity
2-3.3. Elasticity Along a Linear Demand
Module 2 Overview
Module 2 Readings
Lesson 2-1 Practice Quiz
Lesson 2-2 Practice Quiz
Lesson 2-3 Practice Quiz
Module 2 Quiz
Module 3: Firms, Production, and Costs
3-1.1. An Economist's Production Function
3-1.2. Types of Firms
3-1.3. Behavior Rule
3-1.4. Behavior Rule ? Part 2
3-1.5. Law of Diminishing Marginal Returns
3-2.1. Cost Curves
3-2.2. Derive Short Run Total Cost Family of Curves
3-2.3. Derive Short Run Average Cost Family of Curves
3-2.4. Derive Short Run Average Cost Family of Curves - Part 2
3-2.5. Derive Short Run Average Cost Family of Curves - Part 3
3-2.6. The Definition of Marginal Cost
3-2.7. Derive Shape of the Marginal Cost Curve - Part 1
3-2.8. Derive Shape of the Marginal Cost Curve - Part 2
3-2.9. Derive Shape of the Marginal Cost Curve - Part 3
Module 3 Overview
Module 3 Readings
Lesson 3-1 Practice Quiz
Lesson 3-2 Practice Quiz
Module 3 Quiz
Module 4: Firm Behavior
4-1.1. Firm Optimization Behavior
4-1.2. Firm Optimization Behavior - Part 2
4-1.3. Maximizing Profit
4-1.4. Maximizing Profit Graphically - Part 1
4-1.5. Maximizing Profit Graphically - Part 2
4-2.1. Showing Points on a Graph - Part 1
4-2.2. Showing Points on a Graph - Part 2
4-2.3. Profits After Total Cost Changes
4-2.4. Short Run Shutdown Decisions
4-2.5. Graphing Shutdown Conditions
Gies Online Programs
Module 4 Overview
Module 4 Readings
Module 4 Peer Review Explanation
Congratulations!
Lesson 4-1 Practice Quiz
Lesson 4-2 Practice Quiz
Module 4 Quiz
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