10 Small Business Bookkeeping Tips
November 29, 2023
Article
This course is part of Managerial Economics and Business Analysis Specialization
Instructor: Larry DeBrock
44,919 already enrolled
Included with
(1,072 reviews)
(1,072 reviews)
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.
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.
Add to your LinkedIn profile
13 assignments
Add this credential to your LinkedIn profile, resume, or CV
Share it on social media and in your performance review
In markets, prices act as rationing devices, encouraging or discouraging production and consumption to find an equilibrium. In this course, you will learn to construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Additionally, the course examines the ways in which markets are subject government intervention and the impacts of these interventions.
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 • 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 Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.
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.
2 videos6 readings1 assignment1 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.
12 videos2 readings3 assignments
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.
10 videos2 readings3 assignments
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.
15 videos2 readings3 assignments
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.
9 videos5 readings3 assignments1 peer review1 plugin
We asked all learners to give feedback on our instructors based on the quality of their teaching style.
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
University of Illinois Urbana-Champaign
Build toward a degree
Course
University of Pennsylvania
Course
Corporate Finance Institute
Course
Rice University
Course
This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
University of Illinois Urbana-Champaign
Degree · 2 – 3 years
¹Successful application and enrollment are required. Eligibility requirements apply. Each institution determines the number of credits recognized by completing this content that may count towards degree requirements, considering any existing credits you may have. Click on a specific course for more information.
1,072 reviews
86.75%
11.75%
1.02%
0%
0.46%
Showing 3 of 1072
Reviewed on Apr 25, 2020
The whole course was just amazing with clear and crisp explanation for each and every detail and special thanks to the tutor Prof.Larry DeBrock.
Reviewed on Oct 9, 2019
Prof. DeBrock is the kind of teacher that can make you excited about a topic you have never looked at before. I hugely enjoyed this course!
Reviewed on Mar 4, 2019
Professor DeBrock made the class very interesting with great real-world examples. I feel that I have learned so much from this class that I will carry with me throughout my career.
Unlimited access to 10,000+ world-class courses, hands-on projects, and job-ready certificate programs - all included in your subscription
Earn a degree from world-class universities - 100% online
Upskill your employees to excel in the digital economy
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). If you choose to explore the course without purchasing, you may not be able to access certain assignments.
You will be eligible for a full refund until 2 weeks after your payment date. You cannot receive a refund once you’ve earned a Course Certificate, even if you complete the course within the 2-week refund period. View our full refund policy.
Yes! Coursera provides financial aid to learners who would like to complete a course but cannot afford the course fee. To apply for aid, select "Learn more and apply" in the Financial Aid section below the "Enroll" button. You'll be prompted to complete a simple application; no other paperwork is required.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.