Unit 2: Inflation: Revision

Three posts from tutor2u on the causes of inflation and policies to reduce it

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-revision-demand-pull-inflation/ Demand pull

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-revision-cost-push-inflation/ Cost push

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-revision-policies-to-control-inflation/ Policies to reduce inflation

Unit 2: Revision on consumption

A revision briefing from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-revision-the-importance-of-consumption/

nit 2: The UK ouput gap

A good article from tutor2u summarising the issue

http://www.tutor2u.net/blog/index.php/economics/comments/qa-what-do-we-need-to-know-about-output-gaps/

Unit 1: Market failure in the alcohol market

A great video from the BBC

http://news.bbc.co.uk/1/hi/business/10167936.stm
a) Why is demand for alcohol rising?
b) What negative externalities are there associated with excessive alcohol consumption?
c) Using a diagram, explain how the free market fails
d) How successful do you think imposing a minimum proce on alcohol would be in reducing the market failure?

Unit 2: The state of the Indian economy

A set of data from tutor2u analysing the state of the Indian economy

http://www.tutor2u.net/economics/presentations/indiachartroom/player.html

a) Using the data, comment on the state of the Indian macroeconomy

Unit 2: Externalities: Australian mining

A nice report by the BBC on open cast mining in Australia

http://news.bbc.co.uk/1/hi/world/asia-pacific/8688820.stm

a) What are the private benefits of the mining operation?
b) What are the private costs of the mining operation?
c) What are the external costs of the mining operation?
d) What actions could the Australian government take to reduce the negative externalities to the social optimum output?

Unit 2: Rising inflation:in the UK and India May 2009

Sky news has a brief report, article and graph explaining the latest rise in UK inflation

http://news.sky.com/skynews/Home/Business/Inflation-Rate-Rises-Food-Clothing-And-Alcohol-Costs-Push-CPI-To-37-In-April-While-RPI-Tops-53/Article/201005315634107?lpos=Business_First_Buisness_Article_Teaser_Region_3&lid=ARTICLE_15634107_Inflation_Rate_Rises%3A_Food%2C_Clothing_And_Alcohol_Costs_Push_CPI_To_3.7%25_In_April_While_RPI_Tops_5.3%25

as does the BBC

http://news.bbc.co.uk/1/hi/business/10121176.stm

Mind you, our rate is low compared to India's

http://news.bbc.co.uk/1/hi/business/8689937.stm

a) What is the cause of this inflation?

Unit 2: Indian businessmen buying Durham cricket club

The BBC reports that Indian businessmen are buying Durham cricket club

http://news.bbc.co.uk/1/hi/business/10096909.stm

a) Where would this purchase appear in the UK balance of payments?
b) Is it "good" or "bad" for the UK's balance of payments?

Unit 2: Investment in hotels in Dubai

The BBC reports more hotels being built in Dubai, despite overcapacity at the current time

http://news.bbc.co.uk/1/hi/business/8669651.stm

a) What is the motivation/reason for this investment in the present circumstances?

Unit 2: Revision: Balance of payments

Thanks to tutor2u for this concise revision sheet for BoP

http://www.tutor2u.net/blog/files/Revision_on_Balance_of_Payments.docx

Unit 2: Supply side policies: Revision

A really useful powerpoint presentation from tutor2u

http://www.tutor2u.net/economics/presentations/workshops2010/AS2/player.html

Unit 1: How to reduce market failure? Indirect (carbon) taxes, or tradable permits (cap and trade)

A good summary of both from economics help

http://www.economicshelp.org/blog/economics/carbon-tax-pros-and-cons/ tax

http://www.economicshelp.org/blog/economics/carbon-trading-schemes/ tradable permits

Unit 2: tutor2u macro revision presentations

One onwhy the economy is in a recession

http://www.tutor2u.net/blog/index.php/economics/comments/as-economics-revision-dissection-the-recession/

and a second one on managing the economy

http://www.tutor2u.net/economics/presentations/workshops2010/AS4/player.html

and a third one on prospects for the UK economy

http://www.tutor2u.net/economics/presentations/workshops2010/AS3/player.html