À propos de ce cours
4.8
437 ratings
105 reviews
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....
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Cours en ligne à 100 %

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Calendar

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.
Clock

Recommandé : 4 weeks, 3-5 hours/week

Approx. 22 heures pour terminer
Comment Dots

English

Sous-titres : English

Compétences que vous acquerrez

EconomicsConsumer BehaviourSupply And DemandCost
Globe

Cours en ligne à 100 %

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Calendar

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.
Clock

Recommandé : 4 weeks, 3-5 hours/week

Approx. 22 heures pour terminer
Comment Dots

English

Sous-titres : English

Programme du cours : ce que vous apprendrez dans ce cours

1

Section
Clock
1 heure pour terminer

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....
Reading
1 vidéo (Total 2 min), 5 lectures, 1 quiz
Reading5 lectures
Syllabus10 min
About the Discussion Forums10 min
Glossary10 min
Updating Your Profile10 min
Social Media10 min
Quiz1 exercice pour s'entraîner
Orientation Quiz10 min
Clock
4 heures pour terminer

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....
Reading
7 vidéos (Total 58 min), 3 lectures, 4 quiz
Video7 vidéos
1-1.2. Opportunity Costs5 min
1-1.3. Demand Curves12 min
1-2.1. More on the Demand Curve6 min
1-2.2. Movements Along vs. Shifts in the Demand Curve3 min
1-2.3. Constructing the Supply Curve7 min
1-2.4. Movements to New Equilibrium11 min
Reading3 lectures
Module 1 Overview10 min
Module 1 Readings10 min
Module 1 Peer Review Explanation10 min
Quiz3 exercices pour s'entraîner
Lesson 1-1 Practice Quiz4 min
Lesson 1-2 Practice Quiz6 min
Module 1 Quiz20 min

2

Section
Clock
4 heures pour terminer

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....
Reading
10 vidéos (Total 52 min), 3 lectures, 5 quiz
Video10 vidéos
2-1.2. Government Intervention3 min
2-1.3. Direct Price Controls: Price Floors7 min
2-1.4. Direct Price Controls: Price Ceilings8 min
2-2.1. The Price You Pay at the Pump1 min
2-2.2. Excise Taxes10 min
2-2.3. The Incidence of Taxation5 min
2-3.1. Higher Tuition Yet More College Applications1 min
2-3.2. Responsiveness of Quantity Demanded and Elasticity7 min
2-3.3. Elasticity Along a Linear Demand6 min
Reading3 lectures
Module 2 Overview10 min
Module 2 Readings10 min
Module 2 Peer Review Explanation10 min
Quiz4 exercices pour s'entraîner
Lesson 2-1 Practice Quiz4 min
Lesson 2-2 Practice Quiz4 min
Lesson 2-3 Practice Quiz6 min
Module 2 Quiz24 min

3

Section
Clock
4 heures pour terminer

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....
Reading
9 vidéos (Total 77 min), 3 lectures, 4 quiz
Video9 vidéos
3-1.2. Types of Firms10 min
3-1.3. Behavior Rule8 min
3-1.4. Behavior Rule – Part 27 min
3-1.5. Law of Diminishing Marginal Returns10 min
3-2.1. Cost Curves1 min
3-2.2. Derive Short Run Total Cost Family of Curves8 min
3-2.3. Derive Short Run Average Cost Family of Curves15 min
3-2.4. Derive and Depict Short Run Marginal Costs13 min
Reading3 lectures
Module 3 Overview10 min
Module 3 Readings10 min
Module 3 Peer Review Explanation10 min
Quiz3 exercices pour s'entraîner
Lesson 3-1 Practice Quiz6 min
Lesson 3-2 Practice Quiz6 min
Module 3 Quiz30 min

4

Section
Clock
4 heures pour terminer

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....
Reading
7 vidéos (Total 48 min), 3 lectures, 4 quiz
Video7 vidéos
4-1.2. Maximizing Profit7 min
4-1.3 Maximizing Profit Graphically6 min
4-2.1. Showing Points on a Graph8 min
4-2.2. Profits After Total Cost Changes5 min
4-2.3. Short Run Shutdown Decisions5 min
4-2.4. Graphing Shutdown Conditions6 min
Reading3 lectures
Module 4 Overview10 min
Module 4 Readings10 min
Module 4 Peer Review Explanation10 min
Quiz3 exercices pour s'entraîner
Lesson 4-1 Practice Quiz6 min
Lesson 4-2 Practice Quiz6 min
Module 4 Quiz24 min
4.8

Meilleurs avis

par FPMay 13th 2017

In the beginning I thought this was going to be a very basic course, but the way the professor explained the topics really make it interesting a practical, going beyond the classical economic theory.

par RSAug 23rd 2017

Excellent course and very well explained every basic economic concept with real examples.\n\nThanks a lot Professor for allowing me to audit this course, wishing you a great success ahead!!

Enseignant

Larry DeBrock

Dean Emeritus and Professor of Finance and Professor of Economics
University of Illinois, Urbana-Champaign College of Business Department of Business Administration

À propos de 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. ...

À propos de la Spécialisation Managerial Economics and Business Analysis

In order to effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environment they operate in. 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. The capstone project involves an in-depth analysis of an actual business situation in which you will examine the global economic environment of a business. The final project will be a business plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates. This Specialization is part of the University of Illinois Masters of Business Administration degree program, the iMBA. Learn more about the admission into the program here and how your Coursera work can be leveraged if accepted into the program. You can also start with for-credit courses within the Illinois iMBA degree program....
Managerial Economics and Business Analysis

Foire Aux Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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