Featured byCoursera - University of Illinois
Overview
All goods and services are subject to scarcity at some level, which requires that society develop some allocation mechanism to determine who gets what.
Over recorded history, these allocation rules were usually command based, meaning that 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 to find an equilibrium allocation of resources.
To understand this process, businesses construct demand curves to capture consumer behavior and consider supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity.
After this Firm Level Economics - Consumer and Producer Behavior course offered by Coursera in partnership with University of Illinois, you will be able to:
- Describe consumer behavior as captured by the demand curve.
- Define equilibrium and 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
Get more details
Visit programme websiteProgramme Structure
Courses included:
- Course Orientation
- Scarcity, Allocation, and Markets
- Government Intervention in Markets
- Firms, Production, and Costs
- Firm Behavior
Check out the full curriculum
Visit programme websiteKey information
Duration
- Part-time
- 1 days
Start dates & application deadlines
You can apply for and start this programme anytime.
Language
English
Delivered
Online
Disciplines
Economics Business Administration Family & Consumer Science View 10 other Short Courses in Family & Consumer Science in United StatesExplore more key information
Visit programme websiteWhat students do after studying
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Academic requirements
We are not aware of any specific GRE, GMAT or GPA grading score requirements for this programme.
English requirements
We are not aware of any English requirements for this programme.
Other requirements
General requirements
- Intermediate level
- Some related experience required
Make sure you meet all requirements
Visit programme websiteTuition Fee
To always see correct tuition fees
-
International
FreeTuition FeeBased on the tuition of 0 USD for the full programme during 1 days. -
National
FreeTuition FeeBased on the tuition of 0 USD for the full programme during 1 days.
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Funding
Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You'll be prompted to complete an application and will be notified if you are approved. You'll need to complete this step for each course in the Specialization, including the Capstone Project.
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