Looking for Economics major only. This Master Level paper needs to be handled by a Economics major.
Prior Knowledge with the N. Gregory Mankiw's Principles of economics textbook.
Choose a market and a business that operates in competitive, monopoly, monopolistic competition, and oligopoly environment and provide analysis according to the criteria below with relevant economic graphs and tables.
Word: 1000 words
10 Oct 14
Materials: PPT Slides and supplementary weekly sheets will be provided. Strongly recommended to have access to the textbook
***Mankiw, N. Gregory. 2013. Principles of Economics, 7th edn. CENGAGE Learning.***
Economic Principles/ Bajada, Jackson, McIver, Wison, McGraw-Hill 3rd edn, 2012
Principles of Economics / N. Gregory Mankiw (Call No. HB171.5 .M264 2004)
Economics / Douglas McTaggart, Christopher Findlay, Michael Parkin (Call No. HB172 .M398 2007)
Understanding Economics / Russell S. Sobel et al. (Call No. HB171.5 .U53 2006)
Markets in action
Choose a market among competitive, monopoly, monopolistic competition, and oligopoly and find a business that operates in such market environment. Write a 1,000 word essay using the tools of economic analysis to describe AND relevant diagrams to illustrate how current or upcoming domestic and/or international government policies could affect the business and its competitiveness.
* Describe briefly the nature and characteristics of the chosen business.
* Why and how government could influence the market price for a product impacting on suppliers and consumers?
* Describe one real-life examples of government intervention and what do you think the interventions were meant to achieve?
* How do the price elasticity of demand and the price elasticity of supply impact magnitude of the impact from this market intervention?
* Overall, who are the likely beneficiaries and who loses with interventions in the market?
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