Econ

Student name: John Doe Student number: 123456789

ECON 7002- Semester 2, 2021 Markets in Ac<on Word count: 1234

[Include only words wri=en under the four criterion headings below. Exclude all secFon headings, diagrams, figures and references. Words over the 1300 limit will be penalised.]

The Chosen Firm

1. Introduc<on

1.1.Firm Characteris<cs (word count: 123)

(Briefly describe the nature and characterisFcs of the chosen company and its

operaFng environment.)

1.2.Market structure (word count: 123)

(Outline the market structure of the market you have chosen. Also, argue

for the price elasFcity of demand and the price elasFcity of supply of such product.)

2. Analysis of the government Interven<on (word count: 123)

• (Describe one real-life example of the current or upcoming

government intervenFon in the market that has been occurring or

being reported on no earlier than 12 months before the submission

date. A reference for this intervenFon must be provided. This is not

for you to come up with the intervenFon 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 quanFty

sold or demanded).

• What do you think the intervenFon 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 elasFcity of demand and the price

elasFcity of supply affect the magnitude of impact from this market

intervenFon?

• 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 intervenFon? Is the company you chose likely to benefit or

likely to be disadvantaged by the intervenFon?)

3. Cross Comparison (word count: 123)

(Provide other government intervenFon previously engaged in a similar

market that was meant to achieve the similar outcome(s) as in secFon 2. Compare

these outcome(s) to secFon 2.)

4. Cri<cal Reflec<on (word count: 123)

(CriFcal reflecFon of the analyFcal approach, emphasising its strengths and

weaknesses for the real world.)

5. Reference