In your opinion, what type of market structure does an energy firm operate in? What are the problems with this operation?
Order Description
The essay is meant to be about how an energy firm operates in an oliogopoly and the problems with this, eg, collusion, market failure, changing between firms, regulations(what is being done, and what could be done)
Specifications:
The use of economic analysis: remember this is an economics essay and therefore the
economic analysis and economic principles should come first. This is most easily
demonstrated either through using graphs (as they stand out quite well) or through
specifically making reference to economic principles (for example, allocation, demand and
supply, diminishing marginal returns, etc.). All essays should at least make reference to some
point of the textbook.
• The use of external resources: although the economic concepts are meant to drive
everything, using external resources adds weight and empirical reference to your
arguments. What I am really looking for is an application by you to analysing a specific issue
using economic principles, and using external resources is a good demonstration of this.
Remember that academia is really a skill of ‘standing on shoulders of giants’ by which it is
meant that the first thing you should do is understand what others have said and think.
• Structure: make everything clear and concise and have a clear narrative. The best way to do
this is to have a clear structure from the outset. Although not prescriptive, and this will
depend on the question you undertake, you might think of a structure similar to the
following:
o Introduction
o Application of textbook economic ideas
o Empirical observations and external resources
o Conclusions
• Clarity of argument: in all your work, try and have one clear narrative running through your
work. You do this by stating your argument in the introduction and then systematically
returning to this throughout the main body. You may think that you are being clear and
subtle, but often, this is not the case.
