Assignment:
Essay Question:
The market power leads to deadweight loss (DWL). Therefore, the government should always restrict market (monopoly) power. In addition, in order to be fair for every industry or market, the market power should be regulated to the same degree. Argue for or against this statement using both economic theory and real life examples.
Economics essay structure:
The report is divided into sections, often something like this:
Section1: Introduction
• Motivation
• Briefly indicate the economic theory you would apply to support your work.
• At the end of this section, briefly summarize the contents of the rest of the essay, section by section.
Expectation: stimulating introduction that is concise and written clearly to encourage the reader to read the remainder of the essay. It contains the structure of the essay telling the reader briefly what is discussed in each section of the essay.
Section 2: Main body (You need to name section 2)
• Decide on the most logical order of your paragraphs: there should be several subsections (denoted as Section 2.1, 2.2, etc.)
• Application of economic theories, critical analysis of government intervention us
• Within each subsection, application about the economic theory, discussion of related empirical examples, critical analysis of government interventions, etc. should be provided.
Section 3: Conclusion
• Explain the significance key points supporting your argument.
Expectation: conclusion is logical and concisely summarising the analysis and/or findings. The conclusion should not include any new information.
Guidance Notes:
. There should be clear evidence of extensive reading on this topic, and critical evaluation of economic theory and empirical evidence.
. You could apply the economic concepts and theory to discuss government interventions and the potential benefits from market power.
. You are required to provide empirical examples to support your argument.