05 Jun estion Capstone Project
Question
Capstone Project
Description, Helpful Hints, etc.
Please Note:
This project should be completed while working through Module 5. This is not a required component of the course. This is a bonus point opportunity.
The student should readThe Grapes of Wrath by John Steinbeck (while covering Module 5 in the textbook) and provide five examples of market structures from the story line. The examples should include one of each of the following:
· pure competition
· monopolistic competition
· oligopoly
· monopoly
· monopsony
Please note that monopsony should be reviewed in an external source (NOT WIKIPEDIA nor any other online encyclopedia). Please use a textbook.
Look for transactions (when a good, service, or labor is traded) in the story to help identify each of the structures.
Each example should include a brief narrative of the story, a detailed graphical representation of the market, and a commentary about the effects of this market on the participants (the consumer and producer) and society. Each example should not exceed two pages, but must include a narrative,graphical details, commentaries, and references. Thegraphsmay be conceptual but should include the price of the exchanged item.
Suggested Outline:
1) Introductory paragraph that includes a statement of purpose and describes why the novel is a good source of data for this project
2)Pure Competition example and graph
3)Monopolisitic Competition example and graph
4)Monopoly example and graph
5)Oligopoly example and graph
6)Monopsony example and graph
7)Conclusion that references parallels to contemporary economic events or conditions
A substantial block of time has been allocated to complete this project. As such, a comprehensive and accurate submission that demonstrates a thorough understanding of markets is anticipated. Only the group leader should submit the assignment to the drop box. The names of the members of the group should be listed at the top of the document. The dropbox will analyze your paper for originality.
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