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UIUC - Firm Level Economics: Markets and Allocations 

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Firm Level Economics: Markets and Allocations
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Coursera 
Overview

Duration

18 hours

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Total fee

Free

Mode of learning

Online

Difficulty level

Intermediate

Official Website

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Credential

Certificate

Firm Level Economics: Markets and Allocations
 at 
Coursera 
Highlights

  • Shareable Certificate Earn a Certificate upon completion
  • 100% online Start instantly and learn at your own schedule.
  • Course 2 of 7 in the Managerial Economics and Business Analysis Specialization
  • Flexible deadlines Reset deadlines in accordance to your schedule.
  • Approx. 18 hours to complete
  • English Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, Spanish
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Firm Level Economics: Markets and Allocations
 at 
Coursera 
Course details

More about this course
  • In this class, we will derive equilibrium outcomes across a variety of market structures. We will begin by understanding equilibrium under a market structure called Perfect Competition, a benchmark construction. Economists have tools to measure the efficiency of market outcomes. We next consider the polar extreme of a competitive market: a monopoly market. We will determine the monopoly equilibrium price and quantity and efficiency properties. Much economic activity takes place in markets with just a handful of very large producers. To understand equilibrium in these oligopoly markets requires more careful attention to strategic interdependence. To capture this interdependence, we consider collusive arrangements among a small number of rivals as well as the use of simple game theoretic techniques to model equilibrium. Market Failure describes situations where markets fail to find the efficient outcome. Information asymmetries are one fertile form of market failure. Another form of market failure occurs when externalities are present. We will examine one key externality, pollution, and construct a policy prescription to mitigate the negative efficiency impacts of this externality.
  • Upon successful completion of this course, 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. Different market structures produce different levels of efficiency.
  • ? 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 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.
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Firm Level Economics: Markets and Allocations
 at 
Coursera 
Curriculum

Course Orientation

Welcome to Firm Level Economics: Markets and Allocations!

Syllabus

ePub

About the Discussion Forums

Glossary

Updating Your Profile

Orientation Quiz

1-1.1. Markets and Allocations - Part 1

1-1.2. Markets and Allocations - Part 2

1-1.3. Market Structure - Part 1

1-1.4. Market Structure - Part 2

1-1.5. Market Structure - Part 3

1-1.6. Perfect Competition in Reality - as Told by an Economist

1-1.7. Firm Supply Curve in a Perfectly Competitive Industry - Part 1

1-1.8. Firm Supply Curve in a Perfectly Competitive Industry - Part 2

1-2.1. Build Short Run Equilibrium Framework

1-2.2. Long Run Equilibrium - Part 1

1-2.3. Long Run Equilibrium - Part 2

1-2.4. External Shock and Movement to New Equilibrium

Module 1 Overview

Module 1 Readings

Lesson 1-1 Practice Quiz

Lesson 1-2 Practice Quiz

Module 1 Quiz

Module 2: Monopoly Markets and Efficiency

2-1.1. Consumer Surplus - Part 1

2-1.2. Consumer Surplus - Part 2

2-1.3. Producer Surplus

2-1.4. The Benevolent Dictator - Part 1

2-1.5. The Benevolent Dictator - Part 2

2-2.1. Monopoly Equilibrium - Part 1

2-2.2. Monopoly Equilibrium - Part 2

2-2.3. Marginal Revenue Curve in Monopoly

2-2.4. Social Costs of Monopoly

2-2.5. Governments Intervene in Monopoly

Module 2 Overview

Module 2 Readings

Lesson 2-1 Practice Quiz

Lesson 2-2 Practice Quiz

Module 2 Quiz

Module 3: Oligopoly and Game Theory

3-1.1. Introducing Oligopoly - Part 1

3-1.2. Introducing Oligopoly - Part 2

3-1.3. Collusion - Part 1

3-1.4. Collusion - Part 2

3-1.5. Collusion - Part 3

3-1.6. Efficiency, Social Costs, and Antitrust Enforcement - Part 1

3-1.7. Efficiency, Social Costs, and Antitrust Enforcement - Part 2

3-2.1. Simple Game Theory

3-2.2. Computer Chess - Part 1

3-2.3. Computer Chess - Part 2

3-2.4. The Prisoner's Dilemma - Part 1

3-2.5. The Prisoner's Dilemma - Part 2

3-2.6. The Prisoner's Dilemma - Part 3

3-2.7. The Nash Equilibrium to a Non-Cooperative Game - Part 1

3-2.8. The Nash Equilibrium to a Non-Cooperative Game - Part 2

Module 3 Overview

Module 3 Readings

Lesson 3-1 Practice Quiz

Lesson 3-2 Practice Quiz

Module 3 Quiz

Module 4: Market Failures

4-1.1. The Winner's Curse - Part 1

4-1.2. The Winner's Curse - Part 2

4-1.3. Information Asymmetries

4-1.4. Adverse Selection: Unraveling Insurance Markets

4-2.1. Positive and Negative Externalities - Part 1

4-2.2. Positive and Negative Externalities - Part 2

4-2.3. Measure the Gains from Positive Externality

4-2.4. Measure the Costs Caused by Negative Externality - Part 1

4-2.5. Measure the Costs Caused by Negative Externality - Part 2

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

Firm Level Economics: Markets and Allocations
 at 
Coursera 
Admission Process

    Important Dates

    May 25, 2024
    Course Commencement Date

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