Unit 1: The price of oil: Worksheet and article

From tutor2u's GCSE blog comes this post about S&D and the price of oil. Read the article and do the worksheet; it's as good for AS as it is for GCSE!

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/q-and-a-oil-prices-rise/

Unit 2: Govt income and expenditure 2009

This graphic from the Guardian sows the areas of govt expenditure and income from the 2009 budget

http://www.guardian.co.uk/uk/interactive/2009/apr/22/budget-2009-public-sector-borrowing

Unit 2: Revision: Macroeconomic objectives

From economics student comes this handy grid to fill in on the macroecoonomic objectives

http://rapidrevision.co.uk/economics-student/2009/05/26/as-revision-checklist-of-macroeconomic-essentials/

.......and, once you've had a go, a suggested answer if you need to check it

http://rapidrevision.co.uk/economics-student/2009/05/28/answer-to-macroeconomic-essentials/

Unit 1: Cut flowers, a normal good?

This BBC article explains falling demand for cut flowers from Kenya

http://news.bbc.co.uk/1/hi/business/8065913.stm

a) Define "normal good"
b) To what extent does this article support the idea that cut flowers are a normal good?

Unit 2 Australian tax rebates as a fiscal stimulus

This BBC article explains the Australian govt's latest attempt to stimulate the economy, a $700 handout to all citizens

http://news.bbc.co.uk/1/hi/world/asia-pacific/8065525.stm

a) Explain the intended effect on the Australian economy of this action
b) To what extent is the effect on the Australian economy likely to be successful?

Unit 1: Pollution permits as a method of reducing negative externalities: Cap and trade

From Marketplace whiteboard comes this great explanation of how the cap and trade in pollution permits should work

http://marketplace.publicradio.org/videos/whiteboard/cap_and_trade.shtml

They have many other videos explaining aspects of the financial system in innovative ways....and he always ends with the same throw away line

Unit 1: The problem of free riders

From economicshelp comes this nice summary of the free rider problem and posible solutions

http://www.economicshelp.org/blog/economics/free-rider-problem/

Unit 1: The price mechanism

A good summary of what is meant by the price mechanism from economics student

http://rapidrevision.co.uk/economics-student/2009/05/21/what-is-the-price-mechanism/

Unit 2: Is Inflation Really So Bad?

From economics help comes this summary of the problems associated with inflation

http://www.economicshelp.org/2009/05/is-inflation-really-so-bad.html

Unit 2: Japan in recession

A great tutor2u post on the worsening Japanese economy

http://www.tutor2u.net/blog/index.php/economics/comments/japans-worst-ever-post-war-slump/

Unit 1: Government intervention to overcome market failure: Regulation in the US car industry

This BBC post is a good example of Government intervention to overcome market failure using regulation

http://news.bbc.co.uk/1/hi/world/americas/8056908.stm

a) What is the market failure that the government is trying to reduce?
b) How effective do you believe this policy is likely to be in reducing the market failure?

Unit 2: Revision: Consumption

A useful summary of consumption from economics student; click on the spider diagram to get a bigger image

http://rapidrevision.co.uk/economics-student/2009/05/16/consumption/

Unit 2: Economic stability

Economics student has this nice summary of what is meant by economic stability

http://rapidrevision.co.uk/economics-student/2009/05/10/economic-stability-as-a-macroeconomic-objective/

Unit 2: The effect of a change in the exchange rate on inflation

From tutor2u comes this useful post explaining how a change in the exchange rate can have an effect on inflation

http://www.tutor2u.net/blog/index.php/economics/comments/revision-the-exchange-rate-and-inflation/

Unit 2: Revision: Unemployment:

Three nice revision posts fron tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/revision-frictional-and-structural-unemployment/#extended Frictional and structural explanations

http://www.tutor2u.net/blog/index.php/economics/comments/revision-consequences-of-unemployment/ consequences of unemployment

http://www.tutor2u.net/blog/index.php/economics/comments/revision-measuring-unemployment/ How to measure unemployment

Unit 2: Revision: Productivity and Supply side policies

From economics student comes this great post on productivity and supply side policies

http://rapidrevision.co.uk/economics-student/2009/05/07/meeting-the-productivity-challenge/

Unit 2: Revision: Trend growth and the output gap

A nice revision summary from tutor2u on trend growth

http://www.tutor2u.net/blog/index.php/economics/comments/revision-trend-growth/

....and the output gap

http://www.tutor2u.net/blog/index.php/economics/comments/revision-the-output-gap/#extended

Unit 2: Unemployment in Elkhart, Indiana

An interesting post from Paul Mason in the USA

http://news.bbc.co.uk/1/hi/programmes/world_news_america/8028156.stm

a) What type(s) of unemployment are the citizens of Elkhart, Indiana experiencing
b) Explain how the negative multiplier effect will effect Elkhart

Unit 2: A different type of economic growth

This interesting post from tutor2u suggests future economic growth in the UK may be based on a different basis to that of the past years

http://www.tutor2u.net/blog/index.php/economics/comments/after-the-storm/

a) Using the AD function, explain the basis of recent UK growth
b) Why is future growth unlikely to follow the same pattern?
c) Explain the likely sources of growth explained in the article

Unit 2: Revision: Aggregate demand and Investment

Two great revision posts from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/revision-aggregate-demand/ Aggregate demand

http://www.tutor2u.net/blog/index.php/economics/comments/revision-business-investment/ Investment

Unit 2: The UK economy in 2009

Tutor2u has this summary of the outlook for the UK economy in 2009.............it makes bleak reading

http://www.tutor2u.net/blog/index.php/economics/comments/fallout-from-the-recession/

a) Using the AD formula as you starting point, explain what is happening in the economy. Try and link the various pieces of data. Drawing an AD/AS diagram may help your thinking

Unit 1: Revision: Production possibility curves

Tutor2u has this good little summary of what you need to know about PPC's

http://www.tutor2u.net/blog/index.php/economics/comments/qa-how-the-pff-might-be-used-in-assessing-a-countrys-economic-performance/#extended

Unit 2: Revision: Balance of payments

Fron economics student comes this clear revision post for the structure of the BoP

http://rapidrevision.co.uk/economics-student/2009/04/30/balance-of-payments/

...and the causes of a current account deficit

http://rapidrevision.co.uk/economics-student/2009/05/05/the-causes-of-a-current-account-deficit/

...and what can be done to overcome a current account deficit

http://rapidrevision.co.uk/economics-student/2009/05/06/policies-to-improve-a-current-account-deficit/