The EconBlogger Project

  Are all Monopolies Bad?  Afra Azim Some people believe that monopoly power is not a good thing. It can lead to exploitative behaviours within the business and the market, such as unfair prices, fewer choices  for consumers and even power affecting other sectors of the economy e.g. lobbyists. However, some monopolies are not inherently bad. They can  actually be  beneficial to consumers, providing that thei r interests also support the consumers. This blog post will define monopolies and list the benefits and examples of them that  benefit  the economy.   A monopoly is defined as a sole company that holds most of the market share. They produce majority of that specific good/service  in that market and is allowed to charge any price they want  as long as  it is within the demand curve. The barriers to entry are  very high  due to the monopoly having access to economies of scale e.g. cheaper materials and resources. Because...

  By Afra Azim BUS208 Microeconomics for Managers was a module I choose to study  as one of my options in my second year.  This blog will focus on my experience during the past 12 weeks of studying this subject and my strategies of learning I applied for revision. Additionally, I will reflect upon  how the module was laid out and m y overall experience. I would like to thank  the lecturer  for giving me this opportunity to make this blog and for his excellence in teaching this subject and organising the module effectively.    For context,  I have done economics in the past during A levels and during one of my modules in first year, however we went more into depth into certain parts of microeconomics  rather than going broadly. I feel like my  previous  knowledge has helped, but this subject focused more on applying our knowledge rather than just memorising key concepts.    Firstly, I will talk about how I have re...