Cournot, Stackelberg and Bertrand models describe market outcomes in an industry with two rival duopolist. Explain the insights of these models, focussing on outcomes for firms and consumers, compared to the standard competitive and monopoly outcomes.

Intermediate Economics

1500 words completing including diagrams and models of the lustration of the answers.

Coursework Brief:

Answer ONE of the following questions. The word count guideline is 1750 words. :

1. Cournot, Stackelberg and Bertrand models describe market outcomes in an industry with two rival duopolist. Explain the insights of these models, focussing on outcomes for firms and consumers, compared to the standard competitive and monopoly outcomes.

2. A representative firm has two factor inputs, capital and labour. Explain the derivation of the firm’s demand curve for labour and explain how changes in (a) product demand and (b) production technology shift this curve, examining implications.

3. Coase’s theorem suggests that externality problems can be solved by negotiation between affected parties. Explain when and how this might reasonably hold and examine scenarios where more coercive measures might be needed.

4. Public goods pose fundamental problems in terms of how much to provide and “who pays?” Explain how economics provides answers to these questions and how these might be put into practice.

This assessment is worth 50% of the marks for the module

The word count guideline is 1750 words. The School policy is +/- 10% of recommended word limit. This does not include diagrams, front page, reference/ bibliography /annex materials.

You should only use Harvard referencing, where appropriate; websites referred to must be properly referenced.

The text of your assessment must be displayed using a 12-point (or larger) Arial or Verdana font and with a line spacing of at least 1.5.

All parts of the question must be answered.

Last Completed Projects