關於此課程：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.
教學方： Larry DeBrock, Dean Emeritus and Professor of Finance and Professor of Economics
University of Illinois, Urbana-Champaign College of Business Department of Business Administration
| 基本信息 | |
| 承諾學習時間 | 4 weeks, 3-5 hours/week |
| 語言 | English |
| 如何通過 | 通過所有計分作業以完成課程。 |
| 用戶評分 |
- Reading: Syllabus
- Reading: About the Discussion Forums
- Reading: Glossary
- Practice Quiz: Orientation Quiz
- Reading: Updating Your Profile
- Discussion Prompt: Getting to Know Your Classmates
- Reading: Social Media
- Reading: Module 1 Overview
- Reading: Module 1 Readings
- 視頻: 1-1.2. Opportunity Costs
- 視頻: 1-1.3. Demand Curves
- Practice Quiz: Lesson 1-1 Practice Quiz
- 視頻: 1-2.1. More on the Demand Curve
- 視頻: 1-2.2. Movements Along vs. Shifts in the Demand Curve
- 視頻: 1-2.3. Constructing the Supply Curve
- 視頻: 1-2.4. Movements to New Equilibrium
- Practice Quiz: Lesson 1-2 Practice Quiz
- Reading: Module 1 Peer Review Explanation
- Reading: Module 2 Overview
- Reading: Module 2 Readings
- 視頻: 2-1.2. Government Intervention
- 視頻: 2-1.3. Direct Price Controls: Price Floors
- 視頻: 2-1.4. Direct Price Controls: Price Ceilings
- Practice Quiz: Lesson 2-1 Practice Quiz
- 視頻: 2-2.1. The Price You Pay at the Pump
- 視頻: 2-2.2. Excise Taxes
- 視頻: 2-2.3. The Incidence of Taxation
- Practice Quiz: Lesson 2-2 Practice Quiz
- 視頻: 2-3.1. Higher Tuition Yet More College Applications
- 視頻: 2-3.2. Responsiveness of Quantity Demanded and Elasticity
- 視頻: 2-3.3. Elasticity Along a Linear Demand
- Practice Quiz: Lesson 2-3 Practice Quiz
- Reading: Module 2 Peer Review Explanation
- Reading: Module 3 Overview
- Reading: Module 3 Readings
- 視頻: 3-1.2. Types of Firms
- 視頻: 3-1.3. Behavior Rule
- 視頻: 3-1.4. Behavior Rule – Part 2
- 視頻: 3-1.5. Law of Diminishing Marginal Returns
- Practice Quiz: Lesson 3-1 Practice Quiz
- 視頻: 3-2.1. Cost Curves
- 視頻: 3-2.2. Derive Short Run Total Cost Family of Curves
- 視頻: 3-2.3. Derive Short Run Average Cost Family of Curves
- 視頻: 3-2.4. Derive and Depict Short Run Marginal Costs
- Practice Quiz: Lesson 3-2 Practice Quiz
- Reading: Module 3 Peer Review Explanation
- Reading: Module 4 Overview
- Reading: Module 4 Readings
- 視頻: 4-1.2. Maximizing Profit
- 視頻: 4-1.3 Maximizing Profit Graphically
- Practice Quiz: Lesson 4-1 Practice Quiz
- 視頻: 4-2.1. Showing Points on a Graph
- 視頻: 4-2.2. Profits After Total Cost Changes
- 視頻: 4-2.3. Short Run Shutdown Decisions
- 視頻: 4-2.4. Graphing Shutdown Conditions
- Practice Quiz: Lesson 4-2 Practice Quiz
- Reading: Module 4 Peer Review Explanation
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|---|---|
| 訪問課程材料 | 可用 |
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This course was a great introduction into economics. It was my first class in this field and I really enjoyed it!
Well organized, perfectly flexible class with a nice professor. As a total stranger to this topic I really learned a lot and wasn't overwhelmed. 5 stars if you communicate from beginning on that the readings are optional but that it is highly recommended to read at least parts of them. Had a bit of a time issue in the first week.
I took Micro Econ over 20 years ago. It was hard and boring. I barely passed the class. I just took Larry DeBrock's class and fell in love with the area. I had no idea that micro economics could be so interesting! It also helps that Larry DeBrock is an award winning lecturer at University of Illinois and past Dean of the ?business School. He takes the topic and breaks it down into easy-to-understand basics. I really enjoyed this class.
Larry does a great job explaining concepts and making them relatable to every day life. The occasional "field trips" give a real world perspective on how economics plays a hand everyday in the world around us. The only issue comes in the peer reviews where you can end up on the short end of the stick and not have anyone review your assignments for the week at all.