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1 – Explain the relation between price elasticity of demand and market power and how this may affect the case for regulation.
(Learning Outcome: Evaluate and analyse arguments for and against the economic freedom of business enterprises)
MARK 15% (about 600 words)
2-Discuss the main technological aspects leading to the emergence of monopoly. Consider also a scenario where a firm is able to create these technological conditions strategically.
(Learning Outcome: Evaluate and analyse arguments for and against the economic freedom of business enterprises )
MARK 15% (about 600 words)
3-Illustrate how the repeated interaction between competitors may lead to collusion.
(Learning Outcome: Apply regulatory and deregulatory arguments to specific sectors and/or firms in the UK, US and Japan;)
MARK 35% (about 1.400 words)
4-Describe a merger in either UK, US or Japan, emphasizing its competitive costs and efficiency benefits.
(Learning Outcome: Evaluate governmental policies for competition, regulation and deregulation in the UK, US and Japan.)
MARK 35% (about 1.400 words)
NOTES:
-When addressing the previous points draw international comparisons and address in more details specific cases in either the EU, the US or Japan.
-You are expected to relate microeconomic theory to the situations you are describing, using, where appropriate, diagrams and figures to back up your arguments
-Questions are differently weighted, so please devote more words and time to questions 3 and 4
-Note that presentational and referencing skills will be taken into account in the marking scheme
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