Firm Level Economics: Consumer and Producer Behavior
School: University of Illinois
Registration Link: REGISTER HERE
Start Date: July 4 (4 Weeks Long)
Workload: 3-5 Hours Per Week
Instructor: Larry DeBrock
Credentials: DeBrock is the former dean of the College of Business, where he teaches courses in microeconomics and industrial competition. During his tenure, he has also served as the associate dean of faculty and graduation and professional programs at the school. A highly decorated teacher in the MBA program, DeBrock holds masters and Ph.D. degrees in Economics from Cornell University.
Graded: Students can choose to explore course videos, discussions, and ungraded assignments for free, but they won’t be able to submit graded assignments, earn a certificate, or complete a specialization without paying a $79 fee.
Description: What forces create demand? What impulses drive behavior? What factors set prices? For some, it is John Adam’s “invisible hand” of millions taking risks and creating jobs. For others, it is government interventions and policies that nudge the winners forward (and trip up the losers) through levers like taxation and regulatory activities like price controls. In this course, students will explore the interconnections between market-based and government-based actions and how they impact demand, consumption, and scarcity. In particular, it covers concepts like demand curve, supply curve, equilibrium, demand elasticity, price floors, price ceilings, and marginal costs — along with strategies for determining proper output and maximizing revenue.
Review: “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!” For additional reviews, click here.
Additional Background: This course is the second part of the university’s “Managerial Economics and Business Analysis” specialization. To learn more about these courses and register for them, click here.