Description
A?MICROECONOMIC?ANALYSIS?OF?A?MARKET.
a.?Pick?a?market.?By??market,??I?do?not?mean??financial?markets,???bitcoin?market??or
very?broadly??insurance?market?.?I?mean?actually?a?specific?good?or?service?that?is
provided?by?one?or?more?firms?and?purchased?by?a?large?number?of?national?or
international?customers.?So,?consider?for?instance,?sneakers?market,?retail
coffee?market,?gasoline?market?or?a?subsection?of?defense?industry.
b.?Investigate?the?market?demand.?Try?to?bring?in?to?discussion?as?many?factors?as
possible?that?shapes?it?(is?it?a?normal?good,?inferior?good?or?giffen?good;?what
are?its?substitutes?and?complements;?what?factors?determine?the?price?and
income?elasticity?of?demand).
c.?Investigate?the?market?supply.?What?types?of?firms?are?producing?here??What?is
the?technological?structure?of?the?firms??Does?the?decreasing?returns?to?scale
set?in?quickly?or?does?the?firms?display?increasing?returns?to?scale??Describe?the
labor?demand?of?a?typical?firm?in?the?market.?What?types?of?workers?do?they
hire??Skilled?or?unskilled??What?is?the?average?or?median?wage?rate?in?the
industry??What?is?the?managerial?structure?of?the?firms?in?the?industry??What?is
the?financial?structure?of?the?industry??Are?the?firms?publicly?traded?or?are?they
more?like?small?scale?family?business?type??Is?this?a?competitive?market?or?is?the
market?power?concentrated?in?the?hands?of?a?single?or?few?firms??Is?there?an
international?competition?
d.?What?types?of?market?failures?can?we?observe?in?this?market??What?are?the
potential?(negative?or?positive)?externalities?that?we?can?observe?in?this
market??What?sorts?of?information?asymmetries?may?exist?in?the?market??From
what?kinds?of?public?goods?does?this?market?(both?consumers?and?producers)
benefit?from??What?can?the?governments?do?in?order?to?make?up?for?these
market?failures?
EC?301?Madra
Tips:?Make?sure?that?your?analysis?is?based?on?sound?academic?research?and?thinktank
reports,?and?not?just?blogs.?You?may?use?some?of?the?articles?that?we?have
been?reading?and?commenting?on?on?the?Moodle?forum?as?an?inspiration?and?a
starting?point,?but?you?must?go?deeper?than?that.?You?should?use?academic
research?search?engines?that?are?available?at?the?library?website.?Some?of?the
sources?that?you?may?find?useful?are?Harvard?Business?Review,?Fast?Company,
Fortune,?The?Economist,?Financial?Times,?Wall?Street?Journal,?New?York?Times,
Mother?Jones,?Jacobin,?or?The?Nation.?When?you?find?academic?journal?articles
that?are?too?mathematical,?check?the?introduction?and?the?conclusion?and?see?if
there?is?any?worth?insight?you?can?glean?from?them.?Try?to?account?for?as?many
questions?as?possible?listed?above.?Treat?this?as?a?business?analysis?report?but?one
that?is?grounded?in?economic?concepts?and?theories.
Formating:?Whatever?citation?system?you?use,?you?must?use?consistently.?My
suggestion?is?to?go?to?Chicago?Manual?of?Style?and?study?the?Quick?Guide.
http:\/\/www.chicagomanualofstyle.org\/tools_citationguide.html
The?most?appropriate?one?for?economists?and?social?scientists?is?the?(Author?Date)
system.?(It?is?the?second?tab.)<\/p>\n
Description A?MICROECONOMIC?ANALYSIS?OF?A?MARKET. a.?Pick?a?market.?By??market,??I?do?not?mean??financial?markets,???bitcoin?market??or very?broadly??insurance?market?.?I?mean?actually?a?specific?good?or?service?that?is provided?by?one?or?more?firms?and?purchased?by?a?large?number?of?national?or international?customers.?So,?consider?for?instance,?sneakers?market,?retail coffee?market,?gasoline?market?or?a?subsection?of?defense?industry. b.?Investigate?the?market?demand.?Try?to?bring?in?to?discussion?as?many?factors?as possible?that?shapes?it?(is?it?a?normal?good,?inferior?good?or?giffen?good;?what are?its?substitutes?and?complements;?what?factors?determine?the?price?and income?elasticity?of?demand). c.?Investigate?the?market?supply.?What?types?of?firms?are?producing?here??What?is the?technological?structure?of?the?firms??Does?the?decreasing?returns?to?scale set?in?quickly?or?does?the?firms?display?increasing?returns?to?scale??Describe?the labor?demand?of?a?typical?firm?in?the?market.?What?types?of?workers?do?they hire??Skilled?or?unskilled??What?is?the?average?or?median?wage?rate?in?the industry??What?is?the?managerial?structure?of?the?firms?in?the?industry??What?is the?financial?structure?of?the?industry??Are?the?firms?publicly?traded?or?are?they more?like?small?scale?family?business?type??Is?this?a?competitive?market?or?is?the market?power?concentrated?in?the?hands?of?a?single?or?few?firms??Is?there?an international?competition? d.?What?types?of?market?failures?can?we?observe?in?this?market??What?are?the potential?(negative?or?positive)?externalities?that?we?can?observe?in?this market??What?sorts?of?information?asymmetries?may?exist?in?the?market??From what?kinds?of?public?goods?does?this?market?(both?consumers?and?producers) benefit?from??What?can?the?governments?do?in?order?to?make?up?for?these market?failures? EC?301?Madra Tips:?Make?sure?that?your?analysis?is?based?on?sound?academic?research?and?thinktank reports,?and?not?just?blogs.?You?may?use?some?of?the?articles?that?we?have been?reading?and?commenting?on?on?the?Moodle?forum?as?an?inspiration?and?a starting?point,?but?you?must?go?deeper?than?that.?You?should?use?academic research?search?engines?that?are?available?at?the?library?website.?Some?of?the sources?that?you?may?find?useful?are?Harvard?Business?Review,?Fast?Company, Fortune,?The?Economist,?Financial?Times,?Wall?Street?Journal,?New?York?Times, Mother?Jones,?Jacobin,?or?The?Nation.?When?you?find?academic?journal?articles that?are?too?mathematical,?check?the?introduction?and?the?conclusion?and?see?if there?is?any?worth?insight?you?can?glean?from?them.?Try?to?account?for?as?many questions?as?possible?listed?above.?Treat?this?as?a?business?analysis?report?but?one that?is?grounded?in?economic?concepts?and?theories. Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-40402","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/40402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=40402"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/40402\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=40402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=40402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=40402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}