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Voltar para Firm Level Economics: Markets and Allocations

Firm Level Economics: Markets and Allocations, University of Illinois at Urbana-Champaign

267 classificações
52 avaliações

Informações sobre o curso

In this class, we will derive equilibrium outcomes across a variety of market structures. We will begin by understanding equilibrium under a market structure called Perfect Competition, a benchmark construction. Economists have tools to measure the efficiency of market outcomes. We next consider the polar extreme of a competitive market: a monopoly market. We will determine the monopoly equilibrium price and quantity and efficiency properties. Much economic activity takes place in markets with just a handful of very large producers. To understand equilibrium in these oligopoly markets requires more careful attention to strategic interdependence. To capture this interdependence, we consider collusive arrangements among a small number of rivals as well as the use of simple game theoretic techniques to model equilibrium. Market Failure describes situations where markets fail to find the efficient outcome. Information asymmetries are one fertile form of market failure. Another form of market failure occurs when externalities are present. We will examine one key externality, pollution, and construct a policy prescription to mitigate the negative efficiency impacts of this externality. Upon successful completion of this course, 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. Different market structures produce different levels of efficiency. • 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 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

Melhores avaliações

por AA

Jun 08, 2016

Awesome instructor, awesome materials and awesome learners. Of course, difficult assignments that I taught me a lot! Thank you Coursera, Dr. Larry and the entire team behind the scene.

por LD

Mar 07, 2018

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.

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48 avaliações

por Ahmed Nasser Rizk

Jun 17, 2018

Very informative and helps a lot with decision making

por Nicholas James Baker

Jun 13, 2018

Plenty of detals and examples to help you be sucsessfull!

por Laleen Doerrer

Mar 07, 2018

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.

por Rachel Brennan

Mar 06, 2018

The "optional reading" isn't actually optional. Just make it required.

Also, assign/provide a refresher on algebra as pre-course work. It has been multiple decades since I have had to work with slopes and graphs.

por Paul P Alvarez

Mar 06, 2018

Than you professor Larry. I'll miss Larry's tree trimming service.

por Michael Tembrina

Mar 06, 2018

Professor DeBrock makes Microeconomics interesting!

por Jerry Dimandja

Mar 04, 2018

I found this thorough to be quite thorough and informative. I enjoy professor DeBrock's teaching style, and the assignments were a great way to implement what we learned through the lectures. I highly recommend it to anyone seeking to enhance their knowledge of Microeconomics.

por James Stevens

Mar 03, 2018

Great class and great Professor!

por Jackie Paulus

Mar 03, 2018

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!

por Dan MacDonald

Mar 02, 2018

Fascinating subject matter. Well taught.