关于此课程： 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. Upon successful completion of this course, 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. Different market structures produce different levels of efficiency. • 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 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.
制作方： 伊利诺伊大学香槟分校
教学方： 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 | |
| 承诺学习时间 | 4 weeks of study, 3-5 hours/week |
| 语言 | English |
| 如何通过 | 通过所有计分作业以完成课程。 |
| 用户评分 |
授课大纲
第 1 周
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 视频, 5 阅读材料, 1 练习测试
- 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
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 视频, 3 阅读材料, 2 练习测试
- Reading: Module 1 Overview
- Reading: Module 1 Readings
- 视频: 1-1.2. Market Structure
- 视频: 1-1.3. Perfect Competition in Reality - as Told by an Economist
- 视频: 1-1.4. Firm Supply Curve in a Perfectly Competitive Industry
- Practice Quiz: Lesson 1-1 Practice Quiz
- 视频: 1-2.1. Build Short Run Equilibrium Framework
- 视频: 1-2.2. Long Run Equilibrium
- 视频: 1-2.3. External Shock and Movement to New Equilibrium
- Practice Quiz: Lesson 1-2 Practice Quiz
- Reading: Module 1 Peer Review Explanation
已评分: Module 1 Peer Review Assignment
已评分: Module 1 Quiz
第 2 周
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 视频, 3 阅读材料, 2 练习测试
- Reading: Module 2 Overview
- Reading: Module 2 Readings
- 视频: 2-1.2. Producer Surplus
- 视频: 2-1.3. The Benevolent Dictator
- Practice Quiz: Lesson 2-1 Practice Quiz
- 视频: 2-2.1. Monopoly Equilibrium
- 视频: 2-2.2. Marginal Revenue Curve in Monopoly
- 视频: 2-2.3. Social Costs of Monopoly
- 视频: 2-2.4. Governments Intervene in Monopoly
- Practice Quiz: Lesson 2-2 Practice Quiz
- Reading: Module 2 Peer Review Explanation
已评分: Module 2 Peer Review Assignment
已评分: Module 2 Quiz
第 3 周
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.
7 视频, 3 阅读材料, 2 练习测试
- Reading: Module 3 Overview
- Reading: Module 3 Readings
- 视频: 3-1.2. Collusion
- 视频: 3-1.3. Efficiency, Social Costs, and Antitrust Enforcement
- Practice Quiz: Lesson 3-1 Practice Quiz
- 视频: 3-2.1. Simple Game Theory
- 视频: 3-2.2. Computer Chess
- 视频: 3-2.3. The Prisoner's Dilemma
- 视频: 3-2.4. The Nash Equilibrium to a Non-Cooperative Game
- Practice Quiz: Lesson 3-2 Practice Quiz
- Reading: Module 3 Peer Review Explanation
已评分: Module 3 Peer Review Assignment
已评分: Module 3 Quiz
第 4 周
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.
6 视频, 3 阅读材料, 2 练习测试
- Reading: Module 4 Overview
- Reading: Module 4 Readings
- 视频: 4-1.2. Information Asymmetries
- 视频: 4-1.3. Adverse Selection: Unraveling Insurance Markets
- Practice Quiz: Lesson 4-1 Practice Quiz
- 视频: 4-2.1. Positive and Negative Externalities
- 视频: 4-2.2. Measure the Gains from Positive Externality
- 视频: 4-2.3. Measure the Costs Caused by Negative Externality
- Practice Quiz: Lesson 4-2 Practice Quiz
- Reading: Module 4 Peer Review Explanation
已评分: Module 4 Peer Review Assignment
已评分: Module 4 Quiz
常见问题解答
运作方式
Coursework
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制作方
伊利诺伊大学香槟分校
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.
价格
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| 访问课程材料 | 可用 |
| 访问评分的材料 | 可用 |
| 收到最终成绩 | 可用 |
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评分和审阅
The "optional reading" isn't actually optional. Just make it required.
Also, assign/provide a refresher on algebra as pre-course work. It has been multiple decades since I have had to work with slopes and graphs.
Than you professor Larry. I'll miss Larry's tree trimming service.
Professor DeBrock makes Microeconomics interesting!
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.