In this class, we will derive equilibrium outcomes across a variety of market structures. We will begin by understanding equilibrium under a market structure called Perfect Competition, a benchmark construction. Economists have tools to measure the efficiency of market outcomes. We next consider the polar extreme of a competitive market: a monopoly market. We will determine the monopoly equilibrium price and quantity and efficiency properties. Much economic activity takes place in markets with just a handful of very large producers. To understand equilibrium in these oligopoly markets requires more careful attention to strategic interdependence. To capture this interdependence, we consider collusive arrangements among a small number of rivals as well as the use of simple game theoretic techniques to model equilibrium. Market Failure describes situations where markets fail to find the efficient outcome. Information asymmetries are one fertile form of market failure. Another form of market failure occurs when externalities are present. We will examine one key externality, pollution, and construct a policy prescription to mitigate the negative efficiency impacts of this externality.
このコースはManagerial Economics and Business Analysis の専門講座に属します。
Firm Level Economics: Markets and Allocations
Managerial Economics and Business Analysis の専門講座このコースについて
受講生の就業成果
67%
67%
習得するスキル
受講生の就業成果
67%
67%
共有できる証明書
100%オンライン
柔軟性のある期限
約20時間で修了
英語
シラバス - 本コースの学習内容
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.
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.
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.
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.
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.
レビュー
4.9
FIRM LEVEL ECONOMICS: MARKETS AND ALLOCATIONS からの人気レビュー
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.
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.
Prof. Larry DeBrock makes very complicated concepts seem simple and understandable. He shows how to apply the concept to contemporary relevant issues. I sincerely loved this class.
Larry DeBrock is a fantastic professor. He breaks down concepts into consumable portions and offers real-life scenarios to keep it interesting. He changed microeconomics for me!
Another great course from Professor DeBrock. Intuitive and concise, the two Firm Level Economics courses may have been my favorite to date. Thanks, Professor DeBrock!
I like this professor and he taught beautifully even in Producer and Consumer behavior, the prequel course in this specialization. High expectations from this course!
I really enjoyed this class. My last econ class was in high school, so I was a little worried, but Professor Brock made things easy to understand. Thank you!
I really enjoyed the two Firm Level Economics courses. Really help me refreshing my knowledge and better understand key concepts of Microeconomics dynamics.
修士号の取得を目指しましょう
イリノイ大学アーバナ・シャンペーン校（University of Illinois at Urbana-Champaign）について
Managerial Economics and Business Analysis 専門講座について
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