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.
This course is part of the Managerial Economics and Business Analysis Specialization
About this Course
Skills you will gain
University of Illinois at Urbana-Champaign
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.
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TOP REVIEWS FROM FIRM LEVEL ECONOMICS: MARKETS AND ALLOCATIONS
Larry DeBrock is a fantastic professor. He breaks down concepts into consumable portions and offers real-life scenarios to keep it interesting. He changed microeconomics for me!
Learnt a great deal about Microeconomics! Prof. DeBrock teaches the class with great insights mixing history with everyday situations and issues. Can't say enough good things about this course!
I found this course very informative. Dr. Larry is an excellent instructor who can break down complicated theories into easily understandable examples.
Prof. Larry DeBrock makes very complicated concepts seem simple and understandable. He shows how to apply the concept to contemporary relevant issues. I sincerely loved this class.
About the Managerial Economics and Business Analysis Specialization
In order to effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environment in which they operate. In this specialization, you will build a solid understanding of the operation of markets and the macro-economic environment with real-world examples. You will be able to identify firm and country-level economic factors that impact business decisions, develop an analytical framework using statistical tools, and apply economic theory and data in the analysis of business environment and trends to make effective business decisions.
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