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Summative Assesment Economic concentration
Economic concentration refers to the degree to which a small number of firms dominate a particular industry or market. It’s often measured using metrics like market share, concentration ratios, or the Herfindahl-Hirschman Index (HHI).
A summative assessment on economic concentration might include various components:
- Definition and Explanation: Begin by defining economic concentration and explaining its significance in economics and business. This should include examples to illustrate its effects on competition, prices, innovation, and consumer choice.
- Measurement Methods: Discuss different ways to measure economic concentration, such as concentration ratios (e.g., the percentage of market share held by the largest firms) or the HHI (which squares the market share of each firm in the industry and sums them).
- Case Studies: Provide case studies or real-world examples of industries with high and low levels of economic concentration. Analyze the impact of concentration on these industries, including effects on competition, pricing strategies, innovation, and consumer welfare.
- Regulatory Framework: Explore the role of government regulation in addressing economic concentration. Discuss antitrust laws, merger guidelines, and regulatory agencies tasked with monitoring and enforcing competition policies.
- Current Trends and Debates: Discuss recent trends in economic concentration, such as the rise of tech giants in the digital economy or consolidation in healthcare and banking sectors. Highlight ongoing debates about the effects of concentration on economic efficiency, inequality, and social welfare.
- Critical Analysis: Encourage students to critically evaluate the benefits and drawbacks of economic concentration. Are there situations where concentration might lead to economies of scale and efficiency gains, or does it primarily result in market power and reduced competition?
- Policy Recommendations: Conclude with a discussion of potential policy responses to address excessive concentration, such as promoting competition through market reforms, breaking up monopolies, or imposing stricter merger scrutiny.
Overall, a summative assessment on economic concentration should test students’ understanding of key concepts, their ability to analyze real-world examples, and their capacity to evaluate policy implications critically. It should encourage them to think deeply about the complex relationship between market structure, competition, and economic outcomes.
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