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.
Este curso faz parte do Programa de cursos integrados Economia gerencial e análise de negócios
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Informações sobre o curso
Habilidades que você terá
- Externality
- Economics
- Game Theory
- Market (Economics)
oferecido por

Universidade de Illinois em Urbana-ChampaignUniversidade de Illinois em 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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Programa - O que você aprenderá com este curso
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.
Module 1: Perfect Competition
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.
Module 2: Monopoly Markets and Efficiency
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.
Module 3: Oligopoly and Game Theory
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.
Module 4: Market Failures
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.
Avaliações
- 5 stars88,08%
- 4 stars10,81%
- 3 stars0,90%
- 1 star0,20%
Principais avaliações do FIRM LEVEL ECONOMICS: MARKETS AND ALLOCATIONS
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.
Professor Larry is exceptional. He has a deep understanding of the subject and an effective teaching style. I am honored to take his course.
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.
Another great course from Professor DeBrock. Intuitive and concise, the two Firm Level Economics courses may have been my favorite to date. Thanks, Professor DeBrock!
Sobre Programa de cursos integrados Economia gerencial e análise de negócios
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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