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
I like this professor and he taught beautifully even in Producer and Consumer behavior, the prequel course in this specialization. High expectations from this course!
Great course and one the best professors in the business. One day I hope I get a chance to hire Larry's Tree Trimming Service.
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!
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.
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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