The BBC reports actions by the Scottish government on sunbeds
http://news.bbc.co.uk/1/hi/scotland/8385432.stm
a) What is the market failure with sunbeds?
b) List the actions the Scottish government is taking
c) Why is it taking these particular actions?
d) To what extent do you think these actions will reduce the market failure?
NB: There are other blog posts on sunbeds that you could read/watch to get a broader picture of the issue
Monday, November 30, 2009
Unit 1: Market failure; obesity in Scotland
An article from the BBC reflecting market failure in Scotland
http://news.bbc.co.uk/1/hi/scotland/8384429.stm
a) What are the private costs of obesity?
b) What sort of market failure does obesity represent?
c) Why this type of market ailure?
d) What actions could the Scottish government take to reduce the market failure?
e) Discuss how successful do you think any government policies will be in reducing obesityin Scotland
http://news.bbc.co.uk/1/hi/scotland/8384429.stm
a) What are the private costs of obesity?
b) What sort of market failure does obesity represent?
c) Why this type of market ailure?
d) What actions could the Scottish government take to reduce the market failure?
e) Discuss how successful do you think any government policies will be in reducing obesityin Scotland
Sunday, November 29, 2009
Unit 1: Revision: Market failure and efficiency
A series of posts from Economic Student covering the basics
http://rapidrevision.co.uk/economics-student/2009/11/28/efficiency-and-market-failure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomicsStudent+%28Economics+Student%29 What is market failure and efficiency?
http://rapidrevision.co.uk/economics-student/2009/12/02/causes-of-market-failure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomicsStudent+%28Economics+Student%29 What are the causes of market failure?
http://rapidrevision.co.uk/economics-student/2009/11/28/efficiency-and-market-failure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomicsStudent+%28Economics+Student%29 What is market failure and efficiency?
http://rapidrevision.co.uk/economics-student/2009/12/02/causes-of-market-failure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomicsStudent+%28Economics+Student%29 What are the causes of market failure?
Saturday, November 28, 2009
Unit 1: Negative externalities from schoolies week in Australia
A great video from the BBC http://news.bbc.co.uk/1/hi/world/asia-pacific/8382093.stm
a) What negative externalities arise from schoolies week in Australia ?
b) What actions could be taken to reduce the negative externalities?
c) To what extent do you think such actions would be successful in reducing the negative externalities arising from schoolies week?
a) What negative externalities arise from schoolies week in Australia ?
b) What actions could be taken to reduce the negative externalities?
c) To what extent do you think such actions would be successful in reducing the negative externalities arising from schoolies week?
Monday, November 23, 2009
Unit 2: Protectionism examples
Thanks to tutor2u for pointing out this article citing examples of protectionism
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6622730/A-short-guide-to-protectionism.html
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6622730/A-short-guide-to-protectionism.html
Unit 1: Drawbacks of using indirect taxes to reduce market failure: Pub beer
An interesting video from the BBC
http://news.bbc.co.uk/1/hi/business/8373230.stm
a) What does this seem to indicate about the price elasticity of demand for pub beer?
b) Discuss whether pub closures would indicate the government has been successful in decreasing the negative externalities associated with alcohol consumption
http://news.bbc.co.uk/1/hi/business/8373230.stm
a) What does this seem to indicate about the price elasticity of demand for pub beer?
b) Discuss whether pub closures would indicate the government has been successful in decreasing the negative externalities associated with alcohol consumption
Sunday, November 22, 2009
Unit 1: Scarcity and choice in the health service
The decision by NICE to reject a liver cancer drug is explained here
http://news.bbc.co.uk/1/hi/health/8368023.stm
and the opposing view here
http://news.bbc.co.uk/1/hi/health/8367962.stm
and a personal view, here
http://news.bbc.co.uk/1/hi/health/8367715.stm
a) Discuss whether this drug should be licenced for use in the NHS
http://news.bbc.co.uk/1/hi/health/8368023.stm
and the opposing view here
http://news.bbc.co.uk/1/hi/health/8367962.stm
and a personal view, here
http://news.bbc.co.uk/1/hi/health/8367715.stm
a) Discuss whether this drug should be licenced for use in the NHS
Unit 2: Interactive unemployment data for the USA
Thanks to tutor2u for pointing out this resource
http://www.nytimes.com/interactive/2009/11/06/business/economy/unemployment-lines.html
a) Play around with the data and then decide who are the worst effected by the declining economy and who are least effected
http://www.nytimes.com/interactive/2009/11/06/business/economy/unemployment-lines.html
a) Play around with the data and then decide who are the worst effected by the declining economy and who are least effected
Unit 1: Externalities in Singapore
Thanks to tutor2u for pointing out this blog with examples of externalities in Singapore
http://welkerswikinomics.com/blog/2009/11/17/an-introduction-to-consumption-externalities-from-a-singapore-perceptive/
http://welkerswikinomics.com/blog/2009/11/17/an-introduction-to-consumption-externalities-from-a-singapore-perceptive/
Monday, November 16, 2009
Unit 2: Inflation: Measurement, causes and effects
Two presentations from tutor2u with almost all you need to know about inflation
http://www.tutor2u.net/economics/presentations/a2economics/macro/InflationMeasurement/player.html measurement
http://www.tutor2u.net/economics/presentations/a2economics/macro/InflationCausesEffects/player.html causes and effects
http://www.tutor2u.net/economics/presentations/a2economics/macro/InflationMeasurement/player.html measurement
http://www.tutor2u.net/economics/presentations/a2economics/macro/InflationCausesEffects/player.html causes and effects
Sunday, November 15, 2009
Unit 1: The price of champagne
Using the article and video,
http://www.channel4.com/news/articles/business_money/champagne+prices+down+after+bumper+crop/3421197
a) Using a S&D diagram, explain why the price of champagne has fallen
http://www.channel4.com/news/articles/business_money/champagne+prices+down+after+bumper+crop/3421197
a) Using a S&D diagram, explain why the price of champagne has fallen
Unit 2: Unemployment: How it's measured
Tutor2u has this article that contains links to articles on the economically inactive and the 2 main measures of unemployment
http://www.tutor2u.net/blog/index.php/gcse-economics/comments/8-million-economically-inactive-unemployment-definition/
http://www.tutor2u.net/blog/index.php/gcse-economics/comments/8-million-economically-inactive-unemployment-definition/
Sunday, November 08, 2009
Unit 2: The effect of USA tariffs on China's pipe exports
The BBC reports the USA imposing tariffs on Chinese pipe imports
http://news.bbc.co.uk/1/hi/world/asia-pacific/8345881.stm
a) Using a diagram, explain the effect on the price of pipes from China in the USA after the tariff has been levied
b) To what extent will this effect sales of Chinese pipes in the uSA
c) What do you think might be the next stap in this trade dispute?
http://news.bbc.co.uk/1/hi/world/asia-pacific/8345881.stm
a) Using a diagram, explain the effect on the price of pipes from China in the USA after the tariff has been levied
b) To what extent will this effect sales of Chinese pipes in the uSA
c) What do you think might be the next stap in this trade dispute?
Unit 1: Car scrappage: Subsidies as a means of increasing production/consumption
The BBC reports sales of new cars much higher that the same month last year
http://news.bbc.co.uk/1/hi/business/8343948.stm
a) Using a diagram, explain the effect of the car scrappage scheme on the car market
http://news.bbc.co.uk/1/hi/business/8343948.stm
a) Using a diagram, explain the effect of the car scrappage scheme on the car market
Unit 1: Government action to reduce smoking
An intersting escalation in govt action to reduce smoking is proposed in Scotland
http://news.bbc.co.uk/1/hi/scotland/8340947.stm
a) How does smoking lead to market failure?
b) What therefore does any policy regarding smoking aim to achieve?
c) To what extent do you think making it a criminal offence for under 18's to buy cigarettes would reduce the market failure?
http://news.bbc.co.uk/1/hi/scotland/8340947.stm
a) How does smoking lead to market failure?
b) What therefore does any policy regarding smoking aim to achieve?
c) To what extent do you think making it a criminal offence for under 18's to buy cigarettes would reduce the market failure?
Unit 2: Structure and state of the Balance of payments
From economics teacher comes this good summary of the BoP structure
http://rapidrevision.co.uk/economics-student/2009/11/07/faq-what-is-balance-of-payments/
and the UK position
http://rapidrevision.co.uk/economics-student/2009/11/09/faq-what-is-the-current-balance-of-payments-position-for-the-uk/
and this from Anforme
http://www.anforme.co.uk/blog/?p=881
http://rapidrevision.co.uk/economics-student/2009/11/07/faq-what-is-balance-of-payments/
and the UK position
http://rapidrevision.co.uk/economics-student/2009/11/09/faq-what-is-the-current-balance-of-payments-position-for-the-uk/
and this from Anforme
http://www.anforme.co.uk/blog/?p=881
Sunday, November 01, 2009
Unit 1: Market failure in the car tyre market
An interesting clip from the BBC showing changing consumer behaviour in the recession
http://news.bbc.co.uk/1/hi/uk/8335214.stm
a) What form does government intervention take in the car tyre market?
b) Why does the government do this? In what way would a free market in tyres fail?
c) To what extent is the market failure increasing in the recession
http://news.bbc.co.uk/1/hi/uk/8335214.stm
a) What form does government intervention take in the car tyre market?
b) Why does the government do this? In what way would a free market in tyres fail?
c) To what extent is the market failure increasing in the recession
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