Posted: April 28th, 2022

the effects of the COVID-19 pandemic

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Y‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍our undergraduate economics courses, especially intro, and intermediate micro, introduced you to the idea that industries can be categorized based on market power, competition, ease of entry/exit, and other characteristics. Perfect competition and monopoly are at the extreme ends of the market structure continuum. Our approach in ECON 100 and ECON 294 vastly simplified the questions of determining an industry’s market structure and the consequences of market characteristics for how firms behave (e.g., set prices) and how they interact with competitors and consumers. In this paper, use tools and models from industrial organization to consider the structure, conduct, and performance of an industry in the U.S.: college textbooks, pharmaceuticals, airlines, or electric bicycles. Each of the listed industries has complications you should consider. The textbook indus‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍try, for example, faces frequent new editions, resale markets, and newly emerging open educational resources. Government regulation plays an important role in pharmaceuticals and airlines. And of course, the effects of the COVID-19 pandemic rippled through many industries. You must use industrial organization indicators and models to determine what type of market structure exists in the industry. You should also consider using economics to delve into and explain market dynamics and environment, including topics such as pricing behavior, competition, antitrust, related secondary markets, etc. I would say to choose the pharmaceutical route, as I have found many scholarly articles on JSTOR that have to do with organizational structure and price behavior on the topic. However, if one of the other topics seems to have more information than feel free to choose that o‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍ne.

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