This course is part of the Managerial Economics and Business Analysis Specialization

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Larry DeBrock

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Managerial Economics and Business Analysis SpecializationUniversity of Illinois at Urbana-Champaign

About this Course

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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. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

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Course 2 of 7 in the

Managerial Economics and Business Analysis Specialization

Approx. 19 hours to complete

English

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Skills you will gain

Externality
Economics
Game Theory
Market (Economics)

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 2 of 7 in the

Managerial Economics and Business Analysis Specialization

Approx. 19 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.84/5 (150 Ratings)

Larry DeBrock

Dean Emeritus and Professor Emeritus of Finance

University of Illinois, Urbana-Champaign College of Business Department of Business Administration

86,360 Learners

2 Courses

Offered by

University of Illinois at Urbana-Champaign

Start working towards your degree

This Course is part of an online degree program offered by the University of Illinois at Urbana-Champaign. When you apply for a for-credit non-degree course through the university and complete it online, it counts as credit hours towards a degree at Illinois. All you have to do is apply through the university.

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Syllabus - What you will learn from this course

Content Rating97%(2,903 ratings)

Week

Week 1

2 hours to complete

Course Orientation

2 hours to complete

2 videos (Total 4 min), 6 readings, 1 quiz

4 hours to complete

Module 1: Perfect Competition

4 hours to complete

12 videos (Total 118 min), 2 readings, 3 quizzes

12 videos

1-1.1. Markets and Allocations - Part 111m

1-1.2. Markets and Allocations - Part 29m

1-1.3. Market Structure - Part 16m

1-1.4. Market Structure - Part 210m

1-1.5. Market Structure - Part 33m

1-1.6. Perfect Competition in Reality - as Told by an Economist10m

1-1.7. Firm Supply Curve in a Perfectly Competitive Industry - Part 17m

1-1.8. Firm Supply Curve in a Perfectly Competitive Industry - Part 217m

1-2.1. Build Short Run Equilibrium Framework10m

1-2.2. Long Run Equilibrium - Part 17m

1-2.3. Long Run Equilibrium - Part 210m

1-2.4. External Shock and Movement to New Equilibrium12m

2 readings

Module 1 Overview10m

Module 1 Readings10m

3 practice exercises

Lesson 1-1 Practice Quiz30m

Lesson 1-2 Practice Quiz30m

Module 1 Quiz30m

Week

Week 2

4 hours to complete

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.

4 hours to complete

10 videos (Total 125 min), 2 readings, 3 quizzes

10 videos

2-1.1. Consumer Surplus - Part 19m

2-1.2. Consumer Surplus - Part 215m

2-1.3. Producer Surplus8m

2-1.4. The Benevolent Dictator - Part 114m

2-1.5. The Benevolent Dictator - Part 212m

2-2.1. Monopoly Equilibrium - Part 115m

2-2.2. Monopoly Equilibrium - Part 27m

2-2.3. Marginal Revenue Curve in Monopoly8m

2-2.4. Social Costs of Monopoly16m

2-2.5. Governments Intervene in Monopoly16m

2 readings

Module 2 Overview10m

Module 2 Readings10m

3 practice exercises

Lesson 2-1 Practice Quiz30m

Lesson 2-2 Practice Quiz30m

Module 2 Quiz30m

Week

Week 3

4 hours to complete

Module 3: Oligopoly and Game Theory

4 hours to complete

15 videos (Total 147 min), 2 readings, 3 quizzes

15 videos

3-1.1. Introducing Oligopoly - Part 15m

3-1.2. Introducing Oligopoly - Part 27m

3-1.3. Collusion - Part 112m

3-1.4. Collusion - Part 28m

3-1.5. Collusion - Part 313m

3-1.6. Efficiency, Social Costs, and Antitrust Enforcement - Part 18m

3-1.7. Efficiency, Social Costs, and Antitrust Enforcement - Part 211m

3-2.1. Simple Game Theory9m

3-2.2. Computer Chess - Part 19m

3-2.3. Computer Chess - Part 26m

3-2.4. The Prisoner's Dilemma - Part 110m

3-2.5. The Prisoner's Dilemma - Part 28m

3-2.6. The Prisoner's Dilemma - Part 317m

3-2.7. The Nash Equilibrium to a Non-Cooperative Game - Part 17m

3-2.8. The Nash Equilibrium to a Non-Cooperative Game - Part 211m

2 readings

Module 3 Overview10m

Module 3 Readings10m

3 practice exercises

Lesson 3-1 Practice Quiz30m

Lesson 3-2 Practice Quiz30m

Module 3 Quiz30m

Week

Week 4

5 hours to complete

Module 4: Market Failures

5 hours to complete

10 videos (Total 78 min), 5 readings, 4 quizzes

10 videos

4-1.1. The Winner's Curse - Part 16m

4-1.2. The Winner's Curse - Part 27m

4-1.3. Information Asymmetries12m

4-1.4. Adverse Selection: Unraveling Insurance Markets6m

4-2.1. Positive and Negative Externalities - Part 18m

4-2.2. Positive and Negative Externalities - Part 29m

4-2.3. Measure the Gains from Positive Externality7m

4-2.4. Measure the Costs Caused by Negative Externality - Part 16m

4-2.5. Measure the Costs Caused by Negative Externality - Part 29m

Gies Online Programs3m

5 readings

Module 4 Overview10m

Module 4 Readings10m

Module 4 Peer Review Explanation10m

Congratulations!10m

Get Your Course Certificate10m

3 practice exercises

Lesson 4-1 Practice Quiz30m

Lesson 4-2 Practice Quiz30m

Module 4 Quiz30m

Reviews

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TOP REVIEWS FROM FIRM LEVEL ECONOMICS: MARKETS AND ALLOCATIONS

by FPSep 15, 2017

I really enjoyed the two Firm Level Economics courses. Really help me refreshing my knowledge and better understand key concepts of Microeconomics dynamics.

by VSNov 25, 2020

Professor Larry is exceptional. He has a deep understanding of the subject and an effective teaching style. I am honored to take his course.

by EOct 13, 2019

Great course taught by a well-experienced Prof Larry Debrock, assisted by an enviable Prof Vlad, who brought a lot dynamism into the course.

by NKAug 31, 2020

wonderfull experience to learn about firm level economics with Larry one of the best sir who taught me in a very easy way thank you

View all reviews

About the Managerial Economics and Business Analysis Specialization

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.

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 Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program here.

Managerial Economics and Business Analysis

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
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.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

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Firm Level Economics: Markets and Allocations

About this Course

Skills you will gain