Unit 1: Negative externalities associated with clearing the Corby steelworks

These BBC videos report the sad case of children born with birth defects in Corby as a result of negligence by the local authority when cleaning the site of toxic materials

http://news.bbc.co.uk/1/hi/uk/8174316.stm
http://news.bbc.co.uk/1/hi/uk/8173192.stm
http://news.bbc.co.uk/1/hi/health/8174508.stm

a) Why would such birth defects be regarded as negative externalities by economists?

Unit 1: Positive externalities in Greenland arising from global warming

The BBC reports on possible positive externalities in Greenland arising from global warming

http://news.bbc.co.uk/1/hi/sci/tech/8173781.stm

a) Define a positive externality
b) Describe the potential positive externalities for Greenland arising from global warming and explain why are they positive externalities.

nit 1: Negative externalities assiciated with excess alcohol

This BBC clip has news of complaining Newquay residents

http://news.bbc.co.uk/1/hi/uk/8173145.stm

a) Define a negative externality
b) List the negative externalities the residents complain about and in each case identify the 3rd party effected by the excessive alcohol consumption

Unit 1: Information failure: Sunbeds and tanning

The BBC reports the latest on sunbeds and the potential danger associated with their overuse

http://news.bbc.co.uk/1/hi/health/8172690.stm article
http://news.bbc.co.uk/1/hi/health/8174136.stm video

a) How is this market subject to information failure (watch the video as well as reading the article)?
b) What is the result of this information failure in the market?
c) Explain 2 approaches the govt could take to reduce the market failure
d) To what extent do you believe such intervention would reduce the market failure?

Unit 1: Shift of the UK PPC

From tutor2u comes this great article about the UK PPC

http://www.tutor2u.net/blog/index.php/economics/comments/did-you-feel-the-shift/

a) Define a PPC
b) Why has the UK PPC shifted outwards?
c) Does this represent an increase in actual or potential output? Explain your answer
d) Draw a diagram to show the effect of this change in legislation

Unit 2: Is the UK coming out of the recession?

Three videos from the BBC putting 2 sided arguments forward as to whether the UK is recovering from a recession or not. These are ideal for gathering information to practice your evaluation technique

http://news.bbc.co.uk/1/hi/business/8150834.stm Hugh Pym
http://news.bbc.co.uk/1/hi/business/8150625.stm Steph Flanders
http://news.bbc.co.uk/1/hi/uk/8151111.stm Richard Scott

a) To what extent might it be said the UK economy is coming out of the recession?

Unit 1: The price mechanism at work: The coffee market

From economics student comes this clear summary of channges to supply and demand and their effect on the coffee market

http://rapidrevision.co.uk/economics-student/2009/07/08/coffee-republic-the-price-mechanism-at-work/