What Is Programming? And How To Get Started
January 28, 2025
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This course is part of Managerial Economics and Business Analysis Specialization
Instructor: Larry DeBrock
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(1,069 reviews)
(1,069 reviews)
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.
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.
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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/.
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.
2 videos6 readings1 assignment1 discussion prompt
This module introduces the concept of a perfectly competitive market. It is a benchmark construction, but it accurately models many markets in our economy. We will understand equilibrium outcomes in both the short run and the long run. We will understand how to analyze shocks to these equilibria.
12 videos2 readings3 assignments
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.
10 videos2 readings3 assignments
Perfectly competitive markets have many sellers. Monopoly has one seller. But much economic activity takes place in markets with just a handful of very large producers. These are called oligopoly markets. We will look at collusive arrangements among a small number of rivals, and then will use simple game theoretic techniques to model equilibrium.
15 videos2 readings3 assignments
Sometimes even markets that appear to be capable of great efficiency in resource allocation, such as the perfectly competitive market, can fall short of efficiency. Economists call this market failure. In this module, we will consider information issues and the impact on efficiency. We will also introduce externalities (spillovers) such as pollution and model these impacts.
9 videos5 readings3 assignments1 peer review1 plugin
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This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
University of Illinois Urbana-Champaign
Degree · 2 – 3 years
¹Successful application and enrollment are required. Eligibility requirements apply. Each institution determines the number of credits recognized by completing this content that may count towards degree requirements, considering any existing credits you may have. Click on a specific course for more information.
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Reviewed on Jun 2, 2024
Simple, clear and very useful for my career and continuous learning. I highly encourage any one that is in mid career transition to tap into this module.
Reviewed on Jun 7, 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.
Reviewed on Nov 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.
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Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). If you choose to explore the course without purchasing, you may not be able to access certain assignments.
You will be eligible for a full refund until 2 weeks after your payment date. You cannot receive a refund once you’ve earned a Course Certificate, even if you complete the course within the 2-week refund period. View our full refund policy.
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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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