Oligopoly Market Structure in Australian Banking Sector

Running head: ECONOMICS ASSIGNMENT
Economics Assignment
Name of the Student
Name of the University
Author Note

1ECONOMICS ASSIGNMENT
Table of Contents
Introduction................................................................................................................................2
Article Summary........................................................................................................................2
Economic conceptual interpretation and analysis......................................................................3
Oligopoly Market...................................................................................................................4
Relevance with banking sector...............................................................................................5
Conclusion..................................................................................................................................6
References..................................................................................................................................8

2ECONOMICS ASSIGNMENT
Introduction
Economics as a discipline, has developed considerably with time, with the theoretical
and conceptual framework of the same undergoing changes and modifications with the
changes in the trends of economic activities across the global framework with time (Fujita
and Thisse 2013). The different components of the conceptual framework and their
theoretical assertions are found to be having significant relevance with the real economic
scenarios across the world.
In this context, one of the primary components of economics is the concept of market.
“Market” in economics, is defined as the place where the buyers and the sellers of different
commodities mutually negotiate and agree on the price and quantity of the same. In economic
framework, markets can be of different types depending on the numbers of buyers and sellers,
the nature of products bought and sold, the level of competition, distribution of market power
as well as barriers to enter the market. Several important market structures are that of perfect
competition, monopoly, oligopoly, monopolistic competition and others (Kagel and Roth
2016).
Keeping this into account, the report tries to analyse the type of market structure
prevailing in the banking sector of Australia, in the contemporary period and also tries to
analyse and interpret the issues evolving in this sector, thereby recommending the possible
way outs in the light of the economic theories and concepts. To study the market structure
and the dynamics in the same in the banking sector of the country, the report takes reference
of the article, Australian watchdog says bank 'oligopoly' needs more reform (Reuters.com
2018).