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ECON 7002
Markets in Action Word
[Include only words written under the four
criterion headings below. Exclude all section
headings, diagrams, figures and references.
Words over the 1300 limit will be penalised.]
The Chosen Firm
1. Introduction
1.1 Firm Characteristics (word count: 123)
(Briefly describe the nature and characteristics of the chosen company and its
operating environment.)
1.2 Market structure (word count: 123)
(Outline the market structure of the market you have chosen. Also, argue
for the price elasticity of demand and the price elasticity of supply of such product.)
2. Analysis of the government Intervention (word count: 123)
(Describe one real-life example of the current or upcoming
government intervention in the market that has been occurring or
being reported on no earlier than 12 months before the submission
date. A reference for this intervention must be provided. This is not
for you to come up with the intervention by yourself.
Outline the reason(s) why the government wants/wanted to influence
the market (e.g. to alter the market price and/or the market quantity
sold or demanded).
What do you think the intervention was meant to achieve?
Explain the means by which it could achieve this. How would this
impact market suppliers and consumers?
(If applicable) How do the price elasticity of demand and the price
elasticity of supply affect the magnitude of impact from this market
intervention?
Note any unintended consequences of the policy. Briefly describie
how they might arise.
Overall, who is likely to benefit and who is likely to be disadvantaged
by the intervention? Is the company you chose likely to benefit or
likely to be disadvantaged by the intervention?)
3. Cross Comparison (word count: 123)
(Provide other government intervention previously engaged in a similar
market that was meant to achieve the similar outcome(s) as in section 2. Compare
these outcome(s) to section 2.)
4. Critical Reflection (word count: 123)
(Critical reflection of the analytical approach, emphasising its strengths and
weaknesses for the real world.)