Economics

In chapter 7 we discussed the SCP framework and how you can study a market structure and a typical firm's behavior in it in order to maximize firm's performance and contribution in society. This chapter plays a pivotal role in the book that gives a researcher or market analyst a potential to incorporate all concepts in the previous chapters as well as all in the future ones into his or her analysis.  So, the big picture of this project is this: You are that specific researcher or market analyst, and your goal is to apply the SCP framework on an industry and a firm.  To do that, these are the steps I am asking you to follow in your report: 1- Select an industry and define it precisely. This is very crucial for the rest of the project. You can choose any industry from any country that you know, or you are comfortable with. It can be Canadian, American, Indian, Chinese, or Iranian industry. It can be any kind of industry from health to food, from manufacturing to service. You can focus on a specific country or region, or you can go globally. What matters most here is to make sure you have enough data for the next step. For instance, you can say I want to study the electronic car industry in Vancouver, Canada. Or, you can say, I like to study the private banking industry in Iran.  2-Now, apply the SCP approach on your selected industry. This means you need to explain: 2-1. How do you categorize the market structure? Is it competitive? Is it Monopolistic Competitive? Is it Oligopolistic? If yes, what kind? 2-2. Which measures or indexes have you used to reach this conclusion? 2-3. Given that market structure, and by focusing on a typical firm in that industry, what kind of conducts have you detected or seen or studied which that firm is using?  2-4. Given that market structure and firm's conducts, how do you evaluate that typical firm's performance in terms of profit, market share, stock market price, social benefits and so on? NOTE: If it is possible for you and your data allows you, I recommend to choose a specific firm rather a typical one. For instance, study Coca Cola’s profit rather than a soft drink firm’s profit. Some tips: 1-Spend a bit more time on the industry you are planning to work on it and make sure you have enough data or information for that industry. Having enough data in both market and firm level is really helpful and make your rest of the analysis less challenging and far more easier. 2-Do not make your industry too broad like the soft drink market globally or too narrow like the fast food market in Vancouver, unless you have enough or inside information. 3-Choose an industry you are familiar with, or you have already worked in it, or you like to know about it a bit more. Then the whole project becomes less frustrating and more informative and hopefully pleasant for you and this will pop up in your final report. 4-My recommendation to you is to look at this project like this: You have applied for a dream job in a company that you have always wanted to work in. Now, you are invited to the interview. You want to impress the owner, or the HR and employment committee by showcasing how much you know about that industry in general and that firm in specific. This report is supposed to explain that. 5-You do not need to calculate all indexes or mathematical expressions we have discussed in class necessarily. 6- Please avoid plagiarism. Avoid copying and pasting excerpts from the internet. Find your own language and your own style in writing and presenting how you have applied the SCP approach.

5-10 pages.1-inch margins, typed in 12 point font with standard spacing elements and  approximately less than 5000 words, typed single spaced is recommended.