Sunday, May 31, 2009

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!

Unit 2: Govt income and expenditure 2009

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

Tuesday, May 26, 2009

Sunday, May 24, 2009

Unit 1: Cut flowers, a normal good?

This BBC article explains falling demand for cut flowers from Kenya

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

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?

Saturday, May 23, 2009

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

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

Unit 1: The price mechanism

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

Tuesday, May 19, 2009

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

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?

Sunday, May 17, 2009

Unit 2: Revision: Consumption

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

Sunday, May 03, 2009

Unit 2: Unemployment in Elkhart, Indiana

An interesting post from Paul Mason in the USA

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

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 Aggregate demand Investment

Unit 2: The UK economy in 2009

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

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