This economics assignment examines the concept of oligopoly within the Australian banking industry. It highlights the four dominant players – Westpac, ANZ, Commonwealth Bank, and National Australia Bank – and their significant market share. The assignment analyzes high entry barriers in this sector, including regulatory hurdles, substantial capital requirements, and the existing dominance of the big four banks. It further explores how these factors contribute to the oligopoly structure and its implications for competition and market power within the Australian banking landscape.