IF1105 Microeconomics Coursework – October 2021
Work in groups of up to four people. You submit one report for the group and each member of the group will get the same mark. In your overall mark for the course, the exam in January counts for 80% and the coursework 20%.
“Analyse the main forces driving the market for any specific product of your choice.”
• What exactly is the product you are focusing on? What is the geographical location of the market you are looking at? Are there any special characteristics of the product that give its market special features? What kind of information do you have on this market i.e. what are the key facts that you intend to explain?
• What are the supply conditions in this market? Are there many producers or just a few…..is it perfect competition, monopoly, monopolistic competition or oligopoly….and what does this imply for understanding the way in which rival suppliers interact? Is there aggressive price competition or do competitors seek to preserve fat margins? Are there barriers to entry: patents, brands, economies of scale etc. Is there competition in this product area to develop new technologies? Is there any government role in the market, e.g. regulation, protection or government production?
