About this Course
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Approx. 18 hours to complete

Suggested: 4 weeks of study, 3-5 hours/week...

English

Subtitles: English

Skills you will gain

ExternalityEconomicsGame TheoryMarket (Economics)

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 18 hours to complete

Suggested: 4 weeks of study, 3-5 hours/week...

English

Subtitles: English

Syllabus - What you will learn from this course

Week
1
1 hour to complete

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.

...
1 video (Total 4 min), 5 readings, 1 quiz
5 readings
Syllabus10m
About the Discussion Forums10m
Glossary10m
Updating Your Profile10m
Social Media10m
1 practice exercise
Orientation Quiz10m
3 hours to complete

Module 1: Perfect Competition

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.

...
7 videos (Total 66 min), 3 readings, 4 quizzes
7 videos
1-1.4. Firm Supply Curve in a Perfectly Competitive Industry9m
1-2.1. Build Short Run Equilibrium Framework9m
1-2.2. Long Run Equilibrium8m
1-2.3. External Shock and Movement to New Equilibrium7m
3 readings
Module 1 Overview10m
Module 1 Readings10m
Module 1 Peer Review Explanation10m
3 practice exercises
Lesson 1-1 Practice Quiz6m
Lesson 1-2 Practice Quiz6m
Module 1 Quiz28m
Week
2
3 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.

...
7 videos (Total 66 min), 3 readings, 4 quizzes
7 videos
2-2.1. Monopoly Equilibrium10m
2-2.2. Marginal Revenue Curve in Monopoly4m
2-2.3. Social Costs of Monopoly9m
2-2.4. Governments Intervene in Monopoly12m
3 readings
Module 2 Overview10m
Module 2 Readings10m
Module 2 Peer Review Explanation10m
3 practice exercises
Lesson 2-1 Practice Quiz6m
Lesson 2-2 Practice Quiz6m
Module 2 Quiz30m
Week
3
4 hours to complete

Module 3: Oligopoly and Game Theory

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.

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7 videos (Total 71 min), 3 readings, 4 quizzes
7 videos
3-2.1. Simple Game Theory4m
3-2.2. Computer Chess9m
3-2.3. The Prisoner's Dilemma13m
3-2.4. The Nash Equilibrium to a Non-Cooperative Game11m
3 readings
Module 3 Overview10m
Module 3 Readings10m
Module 3 Peer Review Explanation10m
3 practice exercises
Lesson 3-1 Practice Quiz6m
Lesson 3-2 Practice Quiz6m
Module 3 Quiz22m
Week
4
3 hours to complete

Module 4: Market Failures

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.

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6 videos (Total 49 min), 3 readings, 4 quizzes
6 videos
4-2.1. Positive and Negative Externalities11m
4-2.2. Measure the Gains from Positive Externality6m
4-2.3. Measure the Costs Caused by Negative Externality9m
3 readings
Module 4 Overview10m
Module 4 Readings10m
Module 4 Peer Review Explanation10m
3 practice exercises
Lesson 4-1 Practice Quiz6m
Lesson 4-2 Practice Quiz6m
Module 4 Quiz30m
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Top reviews from Firm Level Economics: Markets and Allocations

By AAJun 8th 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.

By JFMar 5th 2019

Professor DeBrock made the class very interesting with great real-world examples. I feel that I have learned so much from this class that I will carry with me throughout my career.

Instructor

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Larry DeBrock

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

Start working towards your Master's degree

This course is part of the 100% online Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

About 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. ...

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 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

Frequently Asked Questions

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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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