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Firm Level Economics: Markets and Allocations
  • Level Foundation
  • المدة 19 ساعات hours
  • الطبع بواسطة University of Illinois Urbana-Champaign
  • Offered by

عن

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. 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 - 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 Gies College of Business' suite of online programs, including the iMBA and iMSM.

الوحدات

About the Course

    • 2 Videos
    • 5 Readings
    • 1 Quiz
Show info about module content

2 Videos

  • Welcome to Firm Level Economics: Markets and Allocations!
  • Learn on Your Terms

5 Readings

  • Syllabus
  • ePub
  • About the Discussion Forums
  • Glossary
  • Online Education at Gies College of Business

1 Quiz

  • Orientation Quiz

About Your Classmates

    • 1 Readings
    • 1 Discussion
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1 Discussions

  • Getting to Know Your Classmates

1 Readings

  • Updating Your Profile

Module 1 Information

    • 2 Readings
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2 Readings

  • Module 1 Overview
  • Module 1 Readings

Lesson 1-1: Introducing Competitive Markets

    • 8 Videos
    • 1 Quiz
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8 Videos

  • 1-1.1. Markets and Allocations - Part 1
  • 1-1.2. Markets and Allocations - Part 2
  • 1-1.3. Market Structure - Part 1
  • 1-1.4. Market Structure - Part 2
  • 1-1.5. Market Structure - Part 3
  • 1-1.6. Perfect Competition in Reality - as Told by an Economist
  • 1-1.7. Firm Supply Curve in a Perfectly Competitive Industry - Part 1
  • 1-1.8. Firm Supply Curve in a Perfectly Competitive Industry - Part 2

1 Quiz

  • Lesson 1-1 Practice Quiz

Lesson 1-2: Firm and Market Behavior

    • 4 Videos
    • 1 Quiz
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4 Videos

  • 1-2.1. Build Short Run Equilibrium Framework
  • 1-2.2. Long Run Equilibrium - Part 1
  • 1-2.3. Long Run Equilibrium - Part 2
  • 1-2.4. External Shock and Movement to New Equilibrium

1 Quiz

  • Lesson 1-2 Practice Quiz

Module 1 Graded Activities

    • 1 Quiz
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1 Quiz

  • Module 1 Quiz

Module 2 Information

    • 2 Readings
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2 Readings

  • Module 2 Overview
  • Module 2 Readings

Lesson 2-1: Building a Measure of Efficiency

    • 5 Videos
    • 1 Quiz
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5 Videos

  • 2-1.1. Consumer Surplus - Part 1
  • 2-1.2. Consumer Surplus - Part 2
  • 2-1.3. Producer Surplus
  • 2-1.4. The Benevolent Dictator - Part 1
  • 2-1.5. The Benevolent Dictator - Part 2

1 Quiz

  • Lesson 2-1 Practice Quiz

Lesson 2-2: Other Market Outcomes: Monopoly

    • 5 Videos
    • 1 Quiz
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5 Videos

  • 2-2.1. Monopoly Equilibrium - Part 1
  • 2-2.2. Monopoly Equilibrium - Part 2
  • 2-2.3. Marginal Revenue Curve in Monopoly
  • 2-2.4. Social Costs of Monopoly
  • 2-2.5. Governments Intervene in Monopoly

1 Quiz

  • Lesson 2-2 Practice Quiz

Module 2 Graded Activities

    • 1 Quiz
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1 Quiz

  • Module 2 Quiz

Module 3 Information

    • 2 Readings
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2 Readings

  • Module 3 Overview
  • Module 3 Readings

Lesson 3-1: Other Market Outcomes: Oligopoly

    • 7 Videos
    • 1 Quiz
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7 Videos

  • 3-1.1. Introducing Oligopoly - Part 1
  • 3-1.2. Introducing Oligopoly - Part 2
  • 3-1.3. Collusion - Part 1
  • 3-1.4. Collusion - Part 2
  • 3-1.5. Collusion - Part 3
  • 3-1.6. Efficiency, Social Costs, and Antitrust Enforcement - Part 1
  • 3-1.7. Efficiency, Social Costs, and Antitrust Enforcement - Part 2

1 Quiz

  • Lesson 3-1 Practice Quiz

Lesson 3-2: Game Theory

    • 8 Videos
    • 1 Quiz
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8 Videos

  • 3-2.1. Simple Game Theory
  • 3-2.2. Computer Chess - Part 1
  • 3-2.3. Computer Chess - Part 2
  • 3-2.4. The Prisoner's Dilemma - Part 1
  • 3-2.5. The Prisoner's Dilemma - Part 2
  • 3-2.6. The Prisoner's Dilemma - Part 3
  • 3-2.7. The Nash Equilibrium to a Non-Cooperative Game - Part 1
  • 3-2.8. The Nash Equilibrium to a Non-Cooperative Game - Part 2

1 Quiz

  • Lesson 3-2 Practice Quiz

Module 3 Graded Activities

    • 1 Quiz
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1 Quiz

  • Module 3 Quiz

Module 4 Information

    • 2 Readings
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2 Readings

  • Module 4 Overview
  • Module 4 Readings

Lesson 4-1: Information Issues

    • 4 Videos
    • 1 Quiz
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4 Videos

  • 4-1.1. The Winner's Curse - Part 1
  • 4-1.2. The Winner's Curse - Part 2
  • 4-1.3. Information Asymmetries
  • 4-1.4. Adverse Selection: Unraveling Insurance Markets

1 Quiz

  • Lesson 4-1 Practice Quiz

Lesson 4-2: Externalities

    • 5 Videos
    • 1 Quiz
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5 Videos

  • 4-2.1. Positive and Negative Externalities - Part 1
  • 4-2.2. Positive and Negative Externalities - Part 2
  • 4-2.3. Measure the Gains from Positive Externality
  • 4-2.4. Measure the Costs Caused by Negative Externality - Part 1
  • 4-2.5. Measure the Costs Caused by Negative Externality - Part 2

1 Quiz

  • Lesson 4-2 Practice Quiz

Module 4 Graded Activities

    • 3 Readings
    • 1 Quiz
    • 1 PeerReview
    • 1 Plugin
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1 Peer Review

  • Module 4 Peer Review Assignment

3 Readings

  • Module 4 Peer Review Explanation
  • Congratulations on completing the course!
  • Get Your Course Certificate

1 Quiz

  • Module 4 Quiz

Auto Summary

Explore the intricacies of market dynamics in "Firm Level Economics: Markets and Allocations," a foundational course in the Business & Management domain offered by the Gies College of Business. Guided by expert instructors, you'll delve into how prices serve as rationing tools to balance production and consumption, achieving market equilibrium. The course equips you with the skills to construct demand and supply curves, analyze the effects of external shocks, evaluate market efficiency, and understand government interventions' role in mitigating market inefficiencies. You'll also explore information problems, externalities, and optimal regulatory responses. Spanning 1140 minutes, this comprehensive course offers flexible subscription options, including Starter, Professional, and Paid plans. It's an excellent fit for individuals looking to enhance their understanding of economic markets, whether you're a beginner or seeking to further your business education. Plus, your Coursera achievements can contribute towards advanced degrees like the iMBA or iMSM through the Gies College of Business. Don't miss this chance to deepen your economic insights and advance your career!

Larry DeBrock
Instructor

Larry DeBrock