The Theory of the Firm
Master microeconomic principles of firm behavior, from production costs to market structures and pricing.
Master microeconomic principles of firm behavior, from production costs to market structures and pricing.
This course cannot be purchased separately - to access the complete learning experience, graded assignments, and earn certificates, you'll need to enroll in the full Microeconomics Principles Specialization program. You can audit this specific course for free to explore the content, which includes access to course materials and lectures. This allows you to learn at your own pace without any financial commitment.
Instructors:
English
Deutsch, हिन्दी, پښتو, 25 more
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What you'll learn
Apply production and cost analysis to business decisions
Understand perfect competition and profit maximization
Analyze different market structures and their implications
Evaluate pricing strategies and market power effects
Calculate marginal returns and key firm costs
Assess welfare effects of market structures
Skills you'll gain
This course includes:
3.6 Hours PreRecorded video
3 quizzes
Access on Mobile, Tablet, Desktop
FullTime access
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There are 3 modules in this course
This foundational course explores the economic theory of firm behavior, covering essential concepts from production and costs to market structures and pricing strategies. Students learn how businesses make decisions about production, pricing, and competition in different market environments. The curriculum includes practical applications ranging from small businesses to large corporations, examining concepts like marginal costs, perfect competition, and market power.
Production and Costs
Module 1 · 2 Hours to complete
Competitive Output
Module 2 · 2 Hours to complete
Firms with Market Power
Module 3 · 3 Hours to complete
Fee Structure
Instructor
Clinical Professor
Dr. José J. Vázquez-Cognet is a Clinical Professor at the University of Illinois Urbana-Champaign, where he teaches one of the largest Economics courses in the country, accommodating 925 students. He has also gained significant recognition through his highly popular online course, "Principles of Microeconomics," on Coursera, which has attracted over 100,000 registrations in the past five years. Additionally, Dr. Vázquez serves as the Director of the Teaching Academy for the School of Liberal Arts and Sciences and has received several teaching awards, including the Outstanding Teacher of Freshmen Award.In his academic career, Dr. Vázquez has co-created FlipIt Economics, a multimedia platform designed to enhance student preparation for class, in collaboration with Eric Chiang from Florida Atlantic University. His research interests include mental attention and student motivation, particularly exploring how curiosity can incentivize learning. He has published various works in academic journals and presented at numerous conferences. Dr. Vázquez teaches courses such as "Market Equilibrium, Government Policy & Elasticity," "Microeconomics Principles," and "The Theory of the Firm," making substantial contributions to economics education at both the undergraduate and graduate levels.
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