ECON5020: Economic Principles For Business

You will be graded based on your writing and communication abilities to a broader audience. The assignment must be clearly written; any diagrams, charts, tables etc. must be clearly labelled and explained in your text and any equations defined and explained. The quality of your argument, the clarity with which you explain and illustrate the relevant concepts and the way in which you relate theory to the available empirical evidence is very important here. Detailed feedback will be provided upon grading

You need to submit your assignment by the end of Week 10 (3 November 2019 – 11pm). Please note, submissions after the due date will attract a penalty of 10% per calendar day or part thereof.

• This is a research project. I expect it to take the appearance of an academic paper and be structured as follows:

Mention the main objectives of this research and the reasons you chose this firm. You may cite any relevant literature to explain the importance of your research.

Basic analysis of the firm characteristics

What kind of a market is this firm competing in - perfect competition, monopoly, oligopoly etc.?

Justify your answer using real-time market data (e.g. market share, profits, sales etc.) for this industry in recent years. Whic firms are the main competitors?

How do competitors influence the pricing decision of this firm? Comment on the overall industry?

Change in market conditions

What happens when the market conditions change? You can use diagrams, charts, and tables to explain your findings.

Summarise your findings and future policy implications for this firm and the industry overall. Is there any role of the government?

Do not forget to make reference of the data sources and any other references you have used to write this short paper.