Microeconomics Term Paper
Industry Analysis and Business
The goal of this industry analysis is to think about how to apply the knowledge you learned in Microeconomics and the special lecture you attended to analyze the business you are interested in. You, INDIVIDUALLY, are assigned to work on the topic of the Industry Analysis that you are interested in the future. The outline of your term paper is as follows,
1. Background of the industry
- Summary profile of the dominant economic characteristics of the chosen industry. For example, if you are interested in hotel business, you find the following data for Hotel and Accommodation industry or market in THAILAND.
o Market Size (volume in THB),
o Growth Rate (past and future forecasts),
o Major Competitors
o Market Structure (What is the closest type of the market of the market,
perfectly competitive market, monopoly, monopolistic competition or oligopoly?)
2. PEST Analysis and SWOT Analysis for the Industry: Use the knowledge in Marketing and Business
You need to analyze the industry environment in the terms of ...
2.1 PEST (External Factor Analysis)
- Political Environment
- Economic Environment
- Socio-cultural Environment
- Technological analysis
2.2 Also, you can use the information from analysis of PEST, together with the
firm’s data to analyze SWOT
- Strengths
- Weaknesses
- Opportunities