Informações sobre o curso: All goods and services are subject to scarcity at some level. Scarcity means that society must develop some allocation mechanism – rules to determine who gets what. Over recorded history, these allocation rules were usually command based – the king or the emperor would decide. In contemporary times, most countries have turned to market based allocation systems. In markets, prices act as rationing devices, encouraging or discouraging production and encouraging or discouraging consumption in such a way as to find an equilibrium allocation of resources. We will construct demand curves to capture consumer behavior and supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity. Markets are frequent targets of government intervention. This intervention can be direct control of prices or it could be indirect price pressure through the imposition of taxes or subsidies. Both forms of intervention are impacted by elasticity of demand. After this course, you will be able to: • Describe consumer behavior as captured by the demand curve. • Describe producer behavior as captured by the supply curve. • Explain equilibrium in a market. • Explain the impact of taxes and price controls on market equilibrium. • Explain elasticity of demand. • Describe cost theory and how firms optimize given the constraints of their own costs and an exogenously given price. 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.
Desenvolvido por: University of Illinois at Urbana-Champaign
Ministrado por: Larry DeBrock, Dean Emeritus and Professor of Finance and Professor of Economics
University of Illinois, Urbana-Champaign College of Business Department of Business Administration
| Informações básicas | Curso 1 de 7 no Managerial Economics and Business Analysis Specialization |
| Compromisso | 4 weeks, 3-5 hours/week |
| Idioma | English |
| Como ser aprovado | Seja aprovado em todas as tarefas para concluir o curso. |
| Classificação do usuário |
Conclua este curso para chegar mais perto de:
Programa de cursos integrados Managerial Economics and Business Analysis
Este curso faz parte do Programa de cursos integrados Managerial Economics and Business Analysis de 7 cursos do University of Illinois at Urbana-Champaign
Master of Business Administration (iMBA)
Este curso faz parte do programa de graduação 18 courses plus three capstone projects totalmente on-line
Programa
SEMANA 1
Course Orientation
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.
1 vídeo, 5 leituras, 1 questionário de prática
- Reading: Syllabus
- Reading: About the Discussion Forums
- Reading: Glossary
- Practice Quiz: Orientation Quiz
- Reading: Updating Your Profile
- Discussion Prompt: Getting to Know Your Classmates
- Reading: Social Media
Module 1: Scarcity, Allocation, and Markets
The fundamental problem of scarcity challenges us to think about an allocation mechanism to determine what is produced and who consumes it. We will discuss scarcity and allocation mechanisms. In this course, we will focus on markets and prices as the solution to this resource allocation problem.
7 vídeos, 3 leituras, 2 questionários de prática
- Reading: Module 1 Overview
- Reading: Module 1 Readings
- Vídeo: 1-1.2. Opportunity Costs
- Vídeo: 1-1.3. Demand Curves
- Practice Quiz: Lesson 1-1 Practice Quiz
- Vídeo: 1-2.1. More on the Demand Curve
- Vídeo: 1-2.2. Movements Along vs. Shifts in the Demand Curve
- Vídeo: 1-2.3. Constructing the Supply Curve
- Vídeo: 1-2.4. Movements to New Equilibrium
- Practice Quiz: Lesson 1-2 Practice Quiz
- Reading: Module 1 Peer Review Explanation
Nota atribuída: Module 1 Peer Review Assignment
Nota atribuída: Module 1 Quiz
SEMANA 2
Module 2: Government Intervention in Markets
Markets are frequent targets of governments. This module will introduce government policy intervention into the market. This intervention can be direct control of prices or it could be indirect price pressure through the imposition of taxes or subsidies. Both forms of intervention are impacted by elasticity.
10 vídeos, 3 leituras, 3 questionários de prática
- Reading: Module 2 Overview
- Reading: Module 2 Readings
- Vídeo: 2-1.2. Government Intervention
- Vídeo: 2-1.3. Direct Price Controls: Price Floors
- Vídeo: 2-1.4. Direct Price Controls: Price Ceilings
- Practice Quiz: Lesson 2-1 Practice Quiz
- Vídeo: 2-2.1. The Price You Pay at the Pump
- Vídeo: 2-2.2. Excise Taxes
- Vídeo: 2-2.3. The Incidence of Taxation
- Practice Quiz: Lesson 2-2 Practice Quiz
- Vídeo: 2-3.1. Higher Tuition Yet More College Applications
- Vídeo: 2-3.2. Responsiveness of Quantity Demanded and Elasticity
- Vídeo: 2-3.3. Elasticity Along a Linear Demand
- Practice Quiz: Lesson 2-3 Practice Quiz
- Reading: Module 2 Peer Review Explanation
Nota atribuída: Module 2 Peer Review Assignment
Nota atribuída: Module 2 Quiz
SEMANA 3
Module 3: Firms, Production, and Costs
This module will introduce cost theory. Firms are interested in producing profits, which are the residuals when costs are subtracted from revenue. Earlier modules constructed demand curves. They give us an idea of how many units of product we can sell at different prices; this would be firm revenue. We will work to understand inputs, production, and costs.
9 vídeos, 3 leituras, 2 questionários de prática
- Reading: Module 3 Overview
- Reading: Module 3 Readings
- Vídeo: 3-1.2. Types of Firms
- Vídeo: 3-1.3. Behavior Rule
- Vídeo: 3-1.4. Behavior Rule – Part 2
- Vídeo: 3-1.5. Law of Diminishing Marginal Returns
- Practice Quiz: Lesson 3-1 Practice Quiz
- Vídeo: 3-2.1. Cost Curves
- Vídeo: 3-2.2. Derive Short Run Total Cost Family of Curves
- Vídeo: 3-2.3. Derive Short Run Average Cost Family of Curves
- Vídeo: 3-2.4. Derive and Depict Short Run Marginal Costs
- Practice Quiz: Lesson 3-2 Practice Quiz
- Reading: Module 3 Peer Review Explanation
Nota atribuída: Module 3 Peer Review Assignment
Nota atribuída: Module 3 Quiz
SEMANA 4
Module 4: Firm Behavior
The firm goal of profit maximization requires an understanding of costs and revenues. In this module, we will see how a firm optimally responds to a given market price by finding the profit maximizing output. The level of profits at this maximum profit point will help determine short run equilibrium.
7 vídeos, 3 leituras, 2 questionários de prática
- Reading: Module 4 Overview
- Reading: Module 4 Readings
- Vídeo: 4-1.2. Maximizing Profit
- Vídeo: 4-1.3 Maximizing Profit Graphically
- Practice Quiz: Lesson 4-1 Practice Quiz
- Vídeo: 4-2.1. Showing Points on a Graph
- Vídeo: 4-2.2. Profits After Total Cost Changes
- Vídeo: 4-2.3. Short Run Shutdown Decisions
- Vídeo: 4-2.4. Graphing Shutdown Conditions
- Practice Quiz: Lesson 4-2 Practice Quiz
- Reading: Module 4 Peer Review Explanation
Nota atribuída: Module 4 Peer Review Assignment
Nota atribuída: Module 4 Quiz
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Desenvolvedores
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.
Custo
| Comprar curso | |
|---|---|
| Acesso aos materiais do curso | Disponível |
| Acesso a materiais valendo nota | Disponível |
| Receba uma nota final | Disponível |
| Obtenha um Certificado de Curso compartilhável | Disponível |
Classificações e avaliações
Well organized, perfectly flexible class with a nice professor. As a total stranger to this topic I really learned a lot and wasn't overwhelmed. 5 stars if you communicate from beginning on that the readings are optional but that it is highly recommended to read at least parts of them. Had a bit of a time issue in the first week.
I took Micro Econ over 20 years ago. It was hard and boring. I barely passed the class. I just took Larry DeBrock's class and fell in love with the area. I had no idea that micro economics could be so interesting! It also helps that Larry DeBrock is an award winning lecturer at University of Illinois and past Dean of the ?business School. He takes the topic and breaks it down into easy-to-understand basics. I really enjoyed this class.
Great class and great Professor!
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This course was a great introduction into economics. It was my first class in this field and I really enjoyed it!