Assignment:
Choose a real-world market and areal world company that operates in that market. Write a 1,000 word essay using the tools of economic analysis describing and explaining how are-centor upcoming domestic and/ orinter national government policy could affect the company, its consumers and, if applicable, broader social welfare. Graphs and figures should be included if they support your analysis. You should summarise your analysis in a single paragraph in your essay's conclusion. Finally, you should briefly criticisey our analysis, emphasis in gits strengths and weaknesses forunder standing and providing policy guidance in the realworld. Provide a properly formatted references section (not abibliography) for all cited claims.
Your essay must be saved as a pdf document and submitted via the Turnitin assignment folder on the ECON
This is an exercise in which, among other outcomes, you need to demonstrate your in dependence in identify in gand conducting an economic analysis of are levant company+ market+ policy scenario. All information you need is contained in this instruction sheet. Please do not email questions about the assignment to your teaching team. All questions should be raised during the lecture, so that all students receive the same information.
1. Task Details
1) Briefly describe the nature and characteristics of your chosen company.
2) Briefly describe the prevailing market structure including (as applicable) relevant demand-side and supply-side elasticities, externalities, public goods features, price controls, taxes, tariffs, subsidies, trade quotas and/ or any other forces relevant to market efficiency and the firm's competitiveness.
3) Briefly describe the recently enacted or upcoming domestic and/ or international government policy facing the market.
4) Describe the announced reason and some other potentially plausible (possibly un announced) reasons why the government might want to enact the policy.
5) Using the tools of economic analysis, explain how the announced government intervention will achieve its state daims.
6) Note any unintended consequences of the policy, briefly describing how they might arise.
7) List and briefly describe any other reason able means the government possesses for achieving its state daims. Include a short statement with each describing its likely market and welfare impacts. Explain why the government chose to implement its announced policy instead of adopting another approach.
8) Find and briefly describe a real-life example of an essentially similar government intervention in a nessentially similar market at anytime previously anywhere in the world. Did that intervention produce its intended results? How can that example be used to in formy our economic analysis in item 5, above?
9) Conclude your essay with a critical reflection about how usefuly our economics approach is for understanding and providing policy guidance in the analysed situation in the real world.