Business & Industrial Economics

Business & Industrial Economics
College of Business

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Course Name:
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Assessment: Assignment Submission Date:
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Total Points: 20 Weightage 20%

INSTRUCTIONS TO THE CANDIDATES:
 This is individual assessment. Group work is not allowed.
 In mentioned cases provide a neat diagram to explain your answer. Make sure to label axes properly. Else points will be deducted
 PLEASE SUBMIT the Assignment through STUDENT PORTAL
 You can use our lecture notes, internet sources and text book mentioned at the end to prepare this assignment.
 Assignments submitted through Student Portal will be marked ONLY
 The Assignments submitted after DUE DATE will not be ENTERTAINED

ASSIGNMENT QUESTIONS

1. What is the scope of industrial economics? Also discuss its importance. (Points-1)

2. What role industrial economics plays in economic development of a country? (Point-1)

3. (a) At what price and output level the market will be in equilibrium? (Point-1)
Qd = 100 – 6P
Qs = 28 + 3P

Where Qd is quantity demanded, Qs is quantity supplied while P is the price of good.
(b) At what price and output level the market will be in equilibrium? (Point-1)
Qd = 100 – 2P
Qs = -20 + 1P
Where Qd is quantity demanded, Qs is quantity supplied while P is the price of good.

4. Define Consumer Surplus and Producer Surplus? Use neat diagrams to explain Consumer and Producer Surplus? (Points-2)

5. Define the Law of Supply? Keeping in view the Law of Supply, how the following factors will shift the supply curve? (Each answer must be supported by a neat diagram): (Points-2)
a) If number of producers increases in the market;
b) If there is an advancement in electronics technology;
c) If the prices of raw material increases in automotive industry;
d) If there is an expectation of increase in oil prices during next month.
6. Explain the Law of Demand. What are their assumptions? What are demand curve shifters and what causes them to shift? (Points-2)
7. What is market equilibrium? What might keep the market from moving all the way to that equilibrium point? (Points-2)

8. “Price control can be more effective in the short run than the long run”. Explain. How could price controls affect a firm’s incentive to innovate? (Points-2)

9. What are various types of elasticity of demand? Explain with examples. (Points-2)
10. Suppose that a producer raises the price of a good from $8 to $15, and the quantity sold drops from 250 to 40 units. Is the demand for the good is elastic or inelastic? (Points-2)

11. Define and explain perfect competition, monopoly and oligopoly. Why firms do price discrimination? (Points-2)

TEXT BOOKS:
Roger G. Clarke, Industrial Economics (latest edition), Wiley Blackwell, ISBN # 978-0631143055
John Sloman, Kevin Hinde, Dean Garratt: Economics for Business, Pearson, 2013. ISBN # 978-0273792598
John Sloman and Elizabeth Jones: Essential Economics for Business, 4th edition, Pearson, 2014. ISBN # 978-129200080
GOOD LUCK!

Market failure- The Affect of Global Oil Prices and on the Living Cost in UAE
Description: The objective of the assignment is to analyse an economic policy issue within a specific
sector of the economy. The focus should be on recognising and addressing potential sources of market
failure in the chosen sector. Students should use well-established economic arguments (when
developing, defending or criticising a policy position) and follow the process outlined below:
• Choose an industry sector (e.g. financial markets, real estate, transport, telecommunications,
tourism, healthcare, education, etc.) and a specific economic policy issue that could lead to market
failure within that sector
• Briefly outline the issue, choose an appropriate essay title and discuss with your lecturer
• Have the topic of your choosing approved by the lecturer no later than week 3
• Write an essay of about 3000 words evaluating the role and scope of alternative government
intervention(s) to address the market failure. You should also identify any unintended consequences
and distortionary effects of such interventions for the economy.
• Be sure to reference your work according to APA guidelines.
• Students are also advised to read the last section of this syllabus on how to submit their essays via
Blackboard; submit your essay no later than week 9.
• Incorporate any feedback received on the written submission in a group presentation in week 12.
10
Guidelines: Students are advised to read several MBRSG Policy Briefs as a guide before they start
typing their essays. Examples of MBRSG Policy Briefs will be uploaded in Blackboard. Essays should
have the following structure:
o Title. Please prepare a separate title page including the title of the essay, your name, and
program name & course details.
o Summary or abstract. This should provide an effective summary of the essay outlining the
focus of the essay, relevant findings and recommendations.
o Introduction. Identify and explain the potential sources of market failure in the specific
economic sector of your choice. Motivate your essay by providing a clear description of the
implications of such market failures (why should we care?).
o Main body of the essay. This should include a detailed description of the role and scope of the
government intervention(s) required to tackle the market failure(s) in question (Is government
intervention necessary? What is the goal of the intervention? Are different policy options
feasible? How does/should the government intervene?)
o Policy recommendations. Conclude with summarizing any relevant policies currently in place
and detail any further policy recommendations that you believe should be implemented to
tackle the specific market failure(s) that you have identified in the essay.
o Appendices (if any)
Topic selection& Research Plan
the topics I have in mind immigration, abortion, something may in information or technology, ambient,
just is 1 topic not all I post just it is an example
and the files I post we have to use 1 of the topic and writer about it
it is 2 pages just response the questions and here we have to decide what topic I will select to work on research and the develop project
-how develop a research writer for the topic
after we have to created a bibliography, thesis statement, paragraph, etc etc
have to write on the files I send to you
Material

Topic Selection & Research Plan

Answer the following questions to explore a topic and research path for your ENG/102 final paper due in Week 9. Your response to each question should be at least 50 to 75 words in length.
1. Based on your exploration of the readings provided in this week’s materials, what research topic are you considering using for your paper?

2. Why have you selected this topic? What interests you academically or personally about your topic?

3. On what specific area of this topic would you like to focus?

4. What is your perspective or point of view on this area of the topic? What do you hope to accomplish through this paper?

5. What do you already know about the topic?

6. What questions about this topic will you need to investigate through research to support your perspective on it?

7. Taking into account your response to the previous two questions, what main points of support are you considering using to support your perspective on this topic? You will need at least three for your final paper.

8. What challenges do you anticipate as you consider the research process?

Narrow Your Topic Worksheet

Part One

Explain in 50 to 75 words how you will narrow your topic. State your revised topic and describe what processes from the text you used to help you narrow it down. Write in complete sentences to continue practicing the sentence building skills you have learned in this week’s activities.

Part Two

Find two University Library sources that relate to your topic and could be used as research sources for your final paper. Complete the following forms:

Source #1
Author(s) names:
Article title:
Date written or published:
Journal or publication title:
Issue number and/or volume number (if provided):
Database name:
URL (web address) or doi number:
Provide a 3- or 4-sentence description of the article and how it relates to your topic.
Source #2
Author(s) names:
Article title:
Date written or published:
Journal or publication title:
Issue number and/or volume number (if provided):
Database name:
URL (web address) or doi number:
Provide a 3- or 4-sentence description of the article and how it relates to your topic.

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