Managerial Economics 2018
Please write a 3,000 word essay on the following essay question:
Critically appraise the Structure-Conduct-Performance paradigm.
It is important to cover and critically appraise
the theoretical foundations of Structure-Conduct-Performance,(SCP), which are the neoclassical theories of competition;
the policy implications of SCP regarding monopolies policy, competition policy, collusion policy, merger policy;
the critique of SCP from other perspectives – Austrian, Classical and Marxist, the theory of Contestable Markets (and its critique) and the Chicago School. These take issue with different aspects of the theoretical foundations of SCP and its policy conclusions.
Note that there are some big debates here that you need to cover, which should give plenty of material to put together a really good essay.
Reading and References
The hardest part is to start – once you get into the essay topic you will find plenty of material and inspiration. Start by reading the relevant sections of the set texts; not all cover SCP in detail but all cover perfect competition, oligopoly, monopoly and policy. Follow this up by using references cited in those texts. It is very important to carry out a literature search using the ISI Web of Science/Knowledge Social Science Citation Index with key words derived from your reading to find academic journal articles. Excellent articles on SCP are available in the Web of Science, so make sure you search and find them.
Please use the Harvard style of referencing and make sure you cite all your sources correctly. I have placed guidance on the Harvard style on BLE/Moodle.
This is an individual coursework essay. Please do not share your essay work with other students. All essays are checked for originality against a wide range of sources including all essays submitted previously and contemporaneously with this essay.