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Groups of microeconomic principles students analyze the impact of Porter's five competitive forces on an existing company.Five essays cover the forces: suppliers, substitutes, buyers, rivals, and new market entrants.Topics are tied to economic theory: production possibilities frontier, cross-price elasticity of demand, consumers, firms, and market structure.A sixth essay requires a comprehensive analysis of the five forces with which the company contends.Essays are graded using well-defined rubrics, and their short, uniform structure allows students to incorporate instructor feedback into future assignments.Students connect basic principles of economics to the functioning of a real firm.
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James Staveley-O’Carroll (2023) studied this question.
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