Industrial Organization Paper
In ECN 1015 you may have identified and researched a business that was of interest to you.
This semester, in ECN 2020, you will consider the industry in which this business operates. (If
you haven’t done the ECN 1015 paper, you’ll first need to find an industry of interest.) This
assignment will help you to add skills and knowledge to your business “portfolio” so that in a
Capstone Course you will be able to produce a “White Paper” on your industry and also to learn
if this is an industry that aligns with your interests and your career goals.
Below are links to a list of industries (shown in two different formats) provided by the Bureau of
Labor Statistics (BLS) at the U.S. Department of Labor. Click on the industry link to obtain an
overview of the industry in general as well as some workforce statistics. NOTE THAT
INDUSTRIES LISTED BY NAICS CODES ARE OFTEN GIVEN BY “SUPERSECTOR” AND ARE
THEREFORE TO BROAD FOR THE PURPOSES OF THIS ASSIGNMENT. YOU’LL NEED TO NARROW
YOUR INDUSTRY FOCUS TO A “SUBSECTOR” or smaller if possible. For example NAICS 713 is
Amusement, Gambling, and Recreation Industries. If you are interested in managing or
operating a movie theater, then you also shouldn’t be considering information about casinos
for your paper. If you are not sure that you’ve narrowed your focus appropriately, ask your
instructor. The next step is to examine your industry in detail. To do this, visit the Library and
see the CSM Reference Librarian to find good resources about your industry through the CSM
Library databases. See https://www.csmd.edu/Library/ Your research will require more than
just an Internet search with your favorite search engine.
List of industries shown as Goods-producing and Service-providing:
https://www.bls.gov/iag/tgs/iag_index_naics.htm
List of industries shown in alphabetical order:
https://www.bls.gov/iag/tgs/iag_index_alpha.htm
In no more than 8 typewritten double spaced 12 pt. font pages, not including your Reference
List, address each of the following components under its own subheading, in an appropriate
level of detail with conclusions supported by documented evidence:
A. Executive Summary
A short summary (no more than one page) placed at the beginning of your project which
provides the reader with an overview of the entire report.
Note: This section is prepared last after all of your research has been gathered and your paper
written.
B. Industry Overview
Provide a brief history of your industry. Describe how and when it started. Discuss how the industry
has evolved over time. Who are the major firms? Have these major firms always been the same,
or have the dominant firms changed over time? What is the current industry size in dollars?
What type of text-book market structure (think Chapters 12 – 15) exists in this industry? Be
sure that you provide facts to support your market structure conclusion.
C. Industry Costs
What are the significant short-run cost factors in this industry (e.g., specific raw materials, R &
D expenditures, unionized labor contracts, etc.)? What has been the nature of long-run cost in
your industry? Are there economies, diseconomies, or constant returns to scale? Where do
these economies come from? How are current national and world events impacting current
costs? How might they impact future costs?
D. Industry Demand
What is the target market for this industry? How do the businesses in this industry segment its
customers? Is demand relatively elastic or inelastic? (Make your case by inferring from your
knowledge of the industry and your understanding of Chapter 6.) Are there close substitutes
for the industry’s products or services? Are the products or services necessities or luxuries?
Are the businesses in this industry able to price discriminate? Is demand growing or declining?
Do consumers have similar preferences or do consumers differ a lot in preferences? What are
the relevant social influences on demand? (See Chapter 10.)
E. Industry Developments, New, Innovations, and Government Regulations
This section discusses the results of your industry research that is important, but did fit directly
into any of the previous components. Additionally, do firms in this industry compete on price
or quantity? How is advertising used? Assess the possibility of collusion in the industry. Who
are the potential entrants into the industry and what, if anything is done to deter entry? What
is the nature of government involvement in this industry? How are rules and regulations
impacting competition?
F. Industry Match
Briefly address if, after the research you’ve done and what you’ve learned about the industry,
working in this industry aligns with your interests and your career goals. Be sure to state both
your interests and career goals.
As with all academic papers, a Reference List (or Bibliography) and in-text citations are
required. You may use either MLA or APA format
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