Unit 1: Cuba moves towards the market system

.....according to the BBC

http://www.bbc.co.uk/news/world-latin-america-16336137

Unit 1: The end of tobacco displays

....is on its way, says the BBC

http://www.bbc.co.uk/news/uk-16343566 video
http://www.bbc.co.uk/news/uk-16342906 article

A) To what extent do you believe this measure will reduce the market failure in the tobacco market?

Unit 1: The price of peanuts

I love peanuts and so I've noticed the rising price in pubs and supermarkets. This post from tutor2u explains why

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-supply-shortages-drive-peanut-prices-higher

Unit 1: Examples of negative externalities

.....from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-video-clips-on-negative-production-externalities

Unit 1: Negative externalities from pop concerts

A few clear examples in this BBC news story

http://www.bbc.co.uk/news/uk-england-london-16312806

a) What are the negative externalities arising from the Hyde Park concerts listed in the article?
b) Explain why these are negative externalities
c) What form of action is the government suggesting to reduce the market failure?
d) How likely is such a course of action to reduce the market failure and lead to a more socially optimum output?

Unit 2: Macro data

Economicshelp's outlook for 2012 has some great macro data charts in it

http://www.economicshelp.org/blog/4689/economics/uk-economy-2012-forecasts/

Unit 2: Falling disposable incomes and their effect on consumption

An interesting post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/changing-consumer-behaviour-falling-incomes

Unit 1: The price of Christmas trees

Here's the annual story from the BBC

http://www.bbc.co.uk/news/uk-16142610

a) Using a S&D diagram, explain the increase in tree prices. Hint: Think carefully about how you draw the supply curve!

Unit 2: The costs of youth unemployment

A fine article from the BBC

http://www.bbc.co.uk/news/business-16156849

Unit 2: Slight fall in UK inflation

Thanks to anforme for this post

http://www.anforme.co.uk/blog/?p=2450

and the BBC

http://www.bbc.co.uk/news/business-16160960 video
http://www.bbc.co.uk/news/business-16154965 article

Unit 2: Comparing EU unemployment data

A nice interactive chart from the BBC

http://www.bbc.co.uk/news/business-13359367

Unit 1: Soaring chocolate prices

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-chocolate-prices-soar

a) Using the info in the article and using a diagram, explain why chocolate prices are rising fast

Unit 1: A market in disequilibrium: Butter in Norway (believe it not!)

I love this story from Planet Money

http://www.npr.org/blogs/money/2011/12/13/143632326/a-rich-country-runs-out-of-butter?ft=1&f=93559255

with a follow up from the BBC

http://www.bbc.co.uk/news/world-europe-16170808

a) Can you use a S&D diagram to explain this problem?

Unit 2: Unemployment gets worse

....in all sorts of ways. The data is depressing

http://news.sky.com/home/business/article/16129991 Sky
http://www.bbc.co.uk/news/business-16180144 BBC video
http://www.bbc.co.uk/news/uk-16189158 BBC video
http://www.bbc.co.uk/news/business-16175309 BBC artcle and data

Unit 1: The external cost of excessive alcohol

The Guardian has some unbelievable stats in this article

http://www.guardian.co.uk/society/2011/dec/09/hospital-admissions-drinking-double?INTCMP=SRCH

a) Why is this an external cost of alcohol consumption?
b) State 3 other external costs of alcohol consumption
c) What actions could the government take to internalise these external costs of alcohol?

Unit 1: Does legislation work to curb alcohol consumption?

The answer would appear to be "yes" from early evidence in Scotland

http://www.bbc.co.uk/news/health-16097832

Unit 2: How to boost growth

This BBC aricle contains a mix of remedies

http://www.bbc.co.uk/news/business-15003833

a) Seperate the policies in to supply side and demand side policies
b) To what extent are such policies likely to be successful in boosting the rate of economic growth?

Unit 1: Migrant labour and the PPC

Qatar has more migrants than Quatari's reports the BBC

http://www.bbc.co.uk/news/business-16052572

a) Using a diagram, explain the effect of this migration on Qatar's production posibility curve

Unit 2: How to increase economic growth

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/4493/economics/how-to-increase-economic-growth/

Unit 2: Economic growth in Australia

....reports the BBC

http://www.bbc.co.uk/news/business-16076812 video
http://www.bbc.co.uk/news/business-16063331 article

...and a cut in interest rates

http://www.bbc.co.uk/news/business-16044504

Unit 1: Negative externalities: Smog in Beijing

A fantastic clip from the BBC

http://www.bbc.co.uk/news/world-asia-16049592

a) Why is the smog an example of a negative externality?
b) What actions could the government take to reduce the negative externality?
c) To what extent is each policy likely to be successful?

Unit 1: Information failure when shopping

A nice clip from the BBC

http://news.bbc.co.uk/panorama/hi/front_page/newsid_9655000/9655493.stm

a) What is the information failure consumers are suffering?
b) What is the result in the free market?
c) What actions could the government take to eradicate this information failure for the consumer?

Unit 1: Should smoking in cars be banned?

Some interesting thoughts here

http://www.confused.com/news-views/blogs/should-smoking-in-cars-be-banned?MediaCode=806&utm_medium=email&utm_campaign=Newsletter&utm_source=Newsletter05Dec

Unit 2 How useful are supply side policies in a recession?

A nice summary from economicshelp

http://www.economicshelp.org/blog/4401/economics/the-role-of-supply-side-policies-in-a-recession/

Unit 1: The whisky market

....is growing according to the BBC

http://www.bbc.co.uk/news/uk-scotland-16007905

a) Which of the factors that effect demand are causing the increasing demand for whisky?
b) Is supply elastic or inelastic? Explain your answer
c) Given your answers to a) and b) draw a S&D diagram to show the effect on the whisky market if demand continues to grow

Unit 1 : Alcohol; a demerit good

A sad story from the BBC

http://www.bbc.co.uk/news/health-15998280

a) What evidence is there in the video of the 2 elements of demerit goods; ie information failure and negative externalities
b) Towhat extent do you believe higher taxes and better information to consumers would reduce alcohol consumption?

Unit 1: Elasticity of supply: Biscuits

A great video found by tutor2u

http://www.unitedbiscuits.com/video/videoPopup.php?w=756&h=576

a) Would the supply of these biscuits likely be elastic or inelastic? Explain your answer?

Unit 2: European unemployment data

The latest (Nov 2011) figs from the BBC

http://www.bbc.co.uk/news/business-15961626

Unit 2: Government action to reduce youth Unemployment

An initiative from the Government (and long overdue it could be argued) as youth unemployment tops a million

http://news.sky.com/home/politics/article/16117378 Sky
http://www.channel4.com/news/clegg-to-announce-1bn-youth-job-scheme Ch4
http://www.bbc.co.uk/news/uk-15885013 BBC video
http://www.bbc.co.uk/news/uk-politics-1587879 BBC article

a) What sort of policy is this by the government?
b) To what extent do you believe these actions will reduce youth unemployment?

Unit 1: The external costs of obesity

..could be huge (no pun intended) according to BBC Northern Ireland

http://www.bbc.co.uk/news/uk-northern-ireland-15839264

a) Why are these health costs examples of external costs?
b) What actions could the Government take to reduce these external costs and so reduce the market failure?
c) To what extent do you think such policies would be successful in reducing the negative externalities?

Unit 1: Migration and the PPC

A ring number of people in the UK, the BBC reports

http://www.bbc.co.uk/news/uk-15868793

a) Given this information, what would happen to the UK's PPC?
b) Given that there are 2.6m people unemployed, draw a PPC diagram and show the UK's position with an X

Unit 1: Negative externalities from global warming

Pitty the Austrian ski industry

http://www.bbc.co.uk/news/world-europe-15868294

a) Why are the green ski slopes an example of a negative externality?
b) Why is the cost of operating snow machines an example of an external cost?

Unit 2: Sources of tax revenue for the government

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/4001/economics/tax-revenue-sources-in-uk/

Unit 1: Information failure: How much fibre should you eat?

Lots, according to the BBC

http://www.bbc.co.uk/news/health-15696791

a) How does the food market fail according to this video?
b) If everybody was made to watch this video, would it eliminate the market failure? Explain your answer

Unit 1: Information failure: How much fibre should you eat?

Unit 2: Policies for reducing unemployment

Lovely summary from economicshelp

http://www.economicshelp.org/blog/3881/economics/policies-for-reducing-unemployment/

Unit 1: What determines the price of oil?

A great summary, with data, from economicshelp

http://www.economicshelp.org/blog/3809/oil/factors-affecting-oil-prices-in-short-term-and-long-term/

Unit 2: Youth and general unemployment in the UK and Europe

Another horrible set of unemployment stats, especially in terms of youth unemployment

http://news.sky.com/home/uk-news/article/16111343 Sky
http://www.bbc.co.uk/news/uk-15760472 BBC
http://www.bbc.co.uk/news/business-1575562BBC
http://blogs.channel4.com/faisal-islam-on-economics/bad-news-grim-jobs-data-worse-news-euro-effect-to-come/15570 Ch4

and the view from Wales

http://www.bbc.co.uk/news/uk-wales-15767242

and this summary from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/testing-times-for-the-uk

a) What are the costs of such high youth unemployment to the UK economy?
b) Using the Europe data halfway down the page, discuss how much of a problem youth unemployment is in the UK

Unit 2: GDP data

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-uk-gdp-growth

Unit 2: Inflation falls slightly to 5%

....according to the BBC

http://www.bbc.co.uk/news/business-15733539

a) Why has the CPI fallen?
b) What has happened to average prices in the past 12 months?

Unit 1: Australia limits cigarette packaging

..a.ccording to Sky news

http://news.sky.com/home/world-news/article/16107369

and the BBC

http://www.bbc.co.uk/news/world-asia-15673797

a) To what extent do you think this action will reduce the market failure associated with the cigarette market?

Unit 1: Cross elasticity of demand and the Kindle Fire

Can this be true? Planet money report each kindle fire is sold at a loss!

http://www.npr.org/blogs/money/2011/11/16/142310104/why-amazon-loses-money-on-every-kindle-fire?ft=1&f=93559255

a) Using the concept of cross elasticity of demand, explain why Amazon would want to sell the Kindle Fire at a loss

Unit 1: Market failure from smoking in a car

A nice video and article from the BBC

http://www.bbc.co.uk/news/uk-northern-ireland-15730304 video
http://www.bbc.co.uk/news/health-15751690 video
http://www.bbc.co.uk/news/health-15744352 article and different video

a) What sort of market failure is occuring?
b) To what extent do you think providing information on the dangers of in car smoking would reduce people doing it and reduce the market failure?
c) To what extent do you think banning in car smoking would reduce people doing it and reduce the market failure

Unit 1: Information failure in the used car industry

A nice post from tutor2u with a Tim Harford video clip on asymetric information failure

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-asymmetric-information-buying-a-used-car?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:17:29Z

Unit 1: Australia passes a carbon tax

..reports tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/australia-pass-carbon-tax

a) Discuss how successful this tax is likely to be in reducing carbon emissions

Unit 1: Fireworks displays: A public good?

A mistake in Oban provides 50 seconds of fun

http://www.bbc.co.uk/news/uk-scotland-15611160

a) To what extent is a firework display a public good?

Unit 2: Costs of unemployment

A nice clip explaining the problem of hysteresis

http://www.bbc.co.uk/news/uk-scotland-15288210

Unit 2: Australia lowers interest rates

...according to the BBC

http://www.bbc.co.uk/news/business-15532567

1. Explain what is meant by the term ‘interest rate’. (2)
2. Using an AD/AS diagram, explain how a cut in interest rates is expected to affect the macro-economy. (6)
3. Discuss how effective this cutting of interest rates is likely to be in ‘boosting economic growth’. (18)

Unit 2: What is GDP?

American, but a good explanation of what GDP is

http://www.slatev.com/video/what-exactly-gdp/

Unit 2: Unemployment tutor2u presentation/data

Many thanks to tutor2u

http://dl.dropbox.com/u/4368634/Economics/Unemployment%20_Charts_Nov2011.pdf

Unit 2: Videos on Investment

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-economic-importance-of-investment?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:14:41:47Z

Unit 2: Worsening unemployment

All the bad news from Ch4, especially the effect on the young via the top video, and further down some EU comparisons

http://www.channel4.com/news/unemployment-hits-17-year-high

Unit 2: Cost push inflation; causes and cures

A great summary from economicshelp

http://www.economicshelp.org/blog/2006/economics/cost-push-inflation-2/

Unit 2: What problems are there with a recession?

A nice summary from economicshelp

http://www.economicshelp.org/blog/416/economics/problems-of-recession/

Unit 2: Costs of inflation verses costs of unemployment

......a nice summary from economics help

http://econ.economicshelp.org/2011/10/inflation-v-unemployment.html

Unit 2: Monetary policy; quantitative easing

A nice clipfrom the BBC explaining what quantitative easing is

http://www.bbc.co.uk/news/business-15492115

Unit 2: Inflation data

Nice interactive chart fron the Guardian

http://www.guardian.co.uk/business/interactive/2009/mar/24/rpi-inflation

Unit 2: Unemployment data

Thanks to tutor2u for these latest updated charts

http://dl.dropbox.com/u/4368634/Economics/Unemployment%20_Charts_Nov2011.pdf

Unit 2: Data on consumption

Thanks to tutor2u for these charts

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-consumer-spending-charts-for-the-uk?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:49:33Z

and these questions based on some of them

http://www.tutor2u.net/blog/files/AS_Macro_EW_Conusmption.pdf

Unit 1: A fat tax in Denmark

For a long time, people combatting obesity have suggested a fat tax. The BBC reports Denmark has now led the way in intrducing such a tax

http://www.bbc.co.uk/news/world-europe-15140821

and possibly in the UK

http://uk.health.lifestyle.yahoo.net/uk-government-may-consider-a-fat-tax.htm

a) What is the market failure this tax will combat?
b) Use a diagram to explain how the tax should reduce the market failure
c) Discuss the extent to which this policy is likely to succeeed

Unit 1: A ban on bulk buy booze discounts in Scotland

So says the BBC

http://www.bbc.co.uk/news/uk-scotland-15135000 video
http://www.bbc.co.uk/news/uk-scotland-15125064 article
http://www.bbc.co.uk/news/uk-scotland-15123533 article

a) To what extent is such a ban likely to reduce the negative externalities associated with excessive alcohol consumption

Unit 1: A charge for plastic bags

As ever, Wales is ahead of the game!

http://www.bbc.co.uk/news/uk-wales-15129197

and the response of consumers

http://www.bbc.co.uk/news/uk-wales-15137706

a) Why is such a charge on bags needed?
b) To what extent di you think this scheme islikely to decrease the consumption of plastic bags? Include a S&D diagram in your answer

Unit 1: More regulation on cigarette sales

This time, a ban on selling cigarettes from vending machines

http://www.bbc.co.uk/news/uk-15132529

a) As ever, the question is "Comment on the likely success of this policy in reducing the market failure arising from the cigarette market"

Unit 1: How to reduce deaths from drink driving: More regulation or more information

Thanks to tutor2u for this post on 2 approaches. The video is quite sobering (and no pun is intended)

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-drink-driving-and-government-intervention/

a) what is the market failure from drink driving?
b) Why does this occur?
c) Discuss the relative likely success of (1) increasingly tighter regulation and (2) providing more information as in the hard hitting adverts

Unit 2: What's the effect of a cut in interest rates?

A nice summary from economics help. I particularly like the evaluation section, some of which could be useful in an essay

http://www.economicshelp.org/blog/3417/interest-rates/effect-of-lower-interest-rates/

Unit 2: What is GDP? Revision

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/study-note-introduction-to-gdp/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:12:00Z

Unit 2: Circular flow of income :Revision

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/study-note-the-circular-flow-of-income/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:04:00Z

Unit 2: The state of the UK economy

A nice, depressing summary from Anforme

http://www.anforme.co.uk/blog/?p=2336

a) Summarise, in terms of the Governments 4 macroeconomic objectives, the state of the UK economy

Unit 2: The economic cycle in pictures

Interesting activity from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/activity-the-economic-cycle-in-images/?utm_source=MailingList&utm_medium=email&utm_campaign=Economics+Update+100911

Unit 2: What is the effect on the UK of a 50%tax rate?

The argument about abolishing the 50% rate continues according to the BBC

http://www.bbc.co.uk/news/business-14821741

a) Discuss the effectiveness of a top tax rate of 50% for UK taxpayers earing over £150,000

Unit 1: A policy to overcome information failure in wales?

Interesting video from the BBC

http://www.bbc.co.uk/news/uk-wales-14826965

a) What is the market failure the policy is meant to reduce?
b) What is the opportunity cost of this policy?
c) To what extent do you believe this policy will be successful

Unit 2: Can you spend your way to full employment?

A nice post from economicshelp

http://www.economicshelp.org/blog/economics/spending-your-way-to-full-employment/

Unit 1 The factors of production needed to build a ball park

Thanks to tutor2u for this clip

http://www.youtube.com/watch?feature=player_embedded&v=HQv0WWhoZnI#!

Unit 2: Information failure resolved?

Interesting posts from Sky news and the BBC explaining how McDonald's is now offering the calorie content of its meals

http://news.sky.com/home/business/article/16062739
http://www.bbc.co.uk/news/health-14784015

a) What is the information failure in the market?
b) From the evidence in the video and your own knowledge, what do you think the likely effect of Mcdonald's stating the calorie content of its meals will be?
c) What other actions could the government take to reduce the market failure asociated with fast food? Do you think these measures are likely to be more or less effective than the calorie information?

Unit 2: The effect of the depreciating pound on holidaymakers

An interesting post from anforme

http://www.anforme.co.uk/blog/?p=2277

a) Using the information provided, explain why more foreign tourists are coming to the UK, and fewer British citizens holidaying overseas
b) Explain why a recession in the UK leads to fewer UK citizens holidaying overseas
c) What, in general terms, can you say about the income elasicity of demand for overseas holidays? What type of good would you therefore classsify foreign holidays as?

Unit 1: Hungary's plan to impose a tax on unheathy food

The BBC reports the plan

http://www.bbc.co.uk/news/world-europe-14016993

a) What is the economic reason for this proposal?
b) To what extent do you think this action will reduce the market failure?
c) What other policies could the Hungarian government introduce to achieve its objective?

Unit 1: Restrictions on smoking in Iceland

What about if you needed a prescription to aquire cigarettes? Thats the proposal in Iceland

http://www.bbc.co.uk/news/world-europe-14104546

Unit 2: Inflation; what is it and who wins loses?

A great summary from the BBC's Declan Murphy

http://www.bbc.co.uk/news/business-14115829

Unit 1: Taxing negative externalities in Australia

A big step by the Australian government to internalise external costs

http://www.bbc.co.uk/news/world-asia-pacific-14096750

a) Comment on the likely succes of this policy in reducing the market failure associated with CO2 emissions

Unit 1: The demand for Tennents lager

Nice story from the BBC

http://www.bbc.co.uk/news/uk-scotland-scotland-business-13958687

a) Why has the demand risen?
b) Given the statement " revenue from sales of Tennent's grew faster than the volume of sales a result of price rises, would you expect the demand for Tennents to be elastic or inelastic? Explain your answer
c) Given your answers to a) and b), draw a S&D diagram to show the effect of the increase in demand on the market for Tennents

Unit 2: Evaluation in macroeconomics essays

A useful summary from economicshelp

http://www.economicshelp.org/macroeconomics/toolkit.html

Unit 1: New images on US cigarette packets

Thanks to tutor2u for this post; click on the link to the Washington Post to see the images that the US govt will force cigarette firms to put on packets

http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-us-ramps-up-cigarette-warnings/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:12:00Z

a) What sort of action is this by the US govt?
b) Why has it taken this action; ie what is the market failure in the cigarette market?
c) To what extent do yoy believe this action will reduce nthe market failure?

Unit 1: Drought hits the wheat crop

The BBC reports that the drought in parts of the UK will hit the wheat harvest

http://www.bbc.co.uk/news/uk-england-13793805

a) Using a S&D diagram, explain the likely effect on the price of wheat

Unit 2: Skills for the jobless

....and the latest data

http://www.bbc.co.uk/news/business-13779743

Unit 2: The uneven impact of inflation

....as reported by Ch4


http://www.channel4.com/news/poor-hit-hardest-by-4-5-per-cent-inflation-rate

Unit 2: Comparative inflation data

Thanks to timetric for this chart


http://byline.timetric.com/2011/06/14/the-uks-inflation-problem-rates-compared-internationally/

Unit 2: The unemployment problem

Thanks to economicshelp for this summary


http://econ.economicshelp.org/2011/06/unemployment-problem.html

Unit 2: Australian economy goes in to reverse

....according to the BBC

http://www.bbc.co.uk/news/business-13611595 video
http://www.bbc.co.uk/news/13611621 article

a) Give 2 reasons why Australia's growth has stalled
b) Why is it expected growth will resume in the next quater?

Unit 1: Cuba moves from central planning

...according to the BBC

http://www.bbc.co.uk/news/world-latin-america-13585353

a) In which way is this a move away from central planning?

Unit 1: Russian drinkers and price elasticity of demand

....appear to be drinking more beer and less vodka, depite tax increases according to the BBC

http://www.bbc.co.uk/news/13576896

a) In economic terms, what are beer and vodka?
b)Given the increase in price and fall in sales mentioned, do you believe the PED for beer to be elastic or inelastic?
c) Explain why this is the case using economic theory

Unit 2: Do tariffs work?

An intriguing answer form tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/do-tariffs-actually-reduce-imports/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:01:31:00Z

Unit 1: Overcoming information failure: Fuel consumption labels in the USA

Thanks to tutor2u for this

Would you buy a car knowing how much more (or less) than the average car you would spend on fuel? That's what's happening in the USA

http://money.cnn.com/2011/05/25/autos/new_fuel_economy_labels/index.htm?iid=HP_River

a) What is the market failure this action is trying to reduce?
b) To what extent do you think the policy will reduce the market failure?

Unit 1: Public and private goods; revision

A nice one sheet revision from tutor2u which can be accessed half way down this post

http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-revision-public-and-private-goods/

Unit 1: The external cost oif alcohol consumption

....continues to rise according to the latest figures from these BBC posts

http://www.bbc.co.uk/news/health-13559455 article, and
http://www.bbc.co.uk/news/health-13568846 video

a) Why is rising alcohol consumption a problem for the UK economy?
b) Using a S&D diagram, explain why thr free market in alcohol is failing
c) Comment on the ideaa that raising the price of alcohol would reduce this market failure

Unit 2: the state of the UK economy

Great post with data from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/macro-revision-putting-things-in-context/

Unit 2: Would the better life index be a more accurate measure of the standard of living than real gdp per capita?

Decide for yourself by following the links in this tutor2u post

http://www.tutor2u.net/blog/index.php/economics/comments/as-and-a2-macro-the-pursuit-of-happiness-and-the-better-life-index/

Unit 2 revision: supply side policies

A nice post from tutor2u, but not all of it is needed for OCR AS

http://www.tutor2u.net/blog/index.php/economics/comments/as-economics-revision-supply-side-policies/

Unit 1: More legislation to reduce smoking....in NY

A nice BBC clip

http://www.bbc.co.uk/news/world-us-canada-13538166

a) Why is NY banning smoking in parks?
b) Comment on the likelyhood that this ban will reduce the consumption of demerit goods like cigarettes

Unit 2: Inflation revision help

Three good posts from tutor2u on inflation :

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-inflation/ on inflation,
http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-cost-push-inflation/ on causes and cures for cost push inflation, and
http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-demand-pull-inflation/ on causes and cures for demand pull inflation

Unit 1: Legislation to reduce UK carbon emissions

...is outlined by this BBC video

http://www.bbc.co.uk/news/science-environment-13432564

a) Discuss the benefits and costs to the UK of introducing this policy

Unit 2: The unequal effect of rising unemployment

Female unemployment is rising at a faster rate than male unemployment according to Ch4

http://www.channel4.com/news/unemployment-hits-women-hardest Ch4

Different groups are being hit differently

http://www.bbc.co.uk/news/uk-13447535 BBC

....and the latest figures

http://www.channel4.com/news/unemployment-falls-but-claimaint-figures-up

http://www.bbc.co.uk/news/business-13436252

Unit 2: Latest unemployment data

...fron anforme

http://www.anforme.co.uk/blog/?p=2156

Unit 1: The price of strawberries

This Sky video is interesting

http://news.sky.com/skynews/Home/UK-News/Strawberry-Crop-Warm-Weather-Produces-Biggest-and-Best-Bumper-English-Strawberries-in-20-Years/Article/201105215988234?lpos=UK_News_First_Buisness_Article_Teaser_Region_6&lid=ARTICLE_15988234_Strawberry_Crop%3A_Warm_Weather_Produces_Biggest_and_Best_Bumper_English_Strawberries_in_20_Years

a) Why has the supply of English strawberries increased?
b) Given the increase in supply, explain why the price has not decreased

Unit 2: Macro data for 2011

Thanks to tutor2u for this great data source

http://www.tutor2u.net/economics/presentations/ukeconomymay2011/handout.pdf

Unit 1: Obesity and government intervention

Thanks to tutor2u for finding this video on the American experience

http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-fast-food-fat-profits-obesity-in-the-usa/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:12:11:00Z

Unit 1: Negative externality photos; Gulf oil spill

Thanks to tutor2u for finding these

http://www.boston.com/bigpicture/2011/04/gulf_oil_spill_one_year_later.html

Unit 2: Australian economy data

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/australia-booming-ahead/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:21:34:00Z

Unit 2: How inflation is measured

Although this is US data, it is for CPI and so should be similar for the UK

http://flowingdata.com/2011/04/27/how-much-more-we-pay-for-stuff-now-than-we-did-last-year/

a) Why was US inflation only 2.7% when gasoline went up 27.5%? Surely everybody buys petrol?

Unit 2: What are the effects of a surplus on the BOP current account?

A nice summary from economicshelp

http://econ.economicshelp.org/2011/04/surplus-on-current-account-balance-of.html

Unit 2: UK unemployment falls

Latest data from the BBC http://www.bbc.co.uk/news/business-13059332 and anforme http://www.anforme.co.uk/blog/?p=2078

Unit 2: Why did CPI inflation fall from 4.4% to 4%?

.....Ch4 reports http://www.channel4.com/news/inflation-falls-to-4-per-cent-in-march ....and the BBC http://www.bbc.co.uk/news/business-13053140 video http://www.bbc.co.uk/news/business-13045775 article....and anformehttp://www.anforme.co.uk/blog/?feed=rss2

Unit 1: The price of cars

A nice summary from tuto2u including a nice graphic http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-prices-for-new-and-second-hand-cars/

Unit 1: How far should a government go in intervening in the free market? Cigarettes in Australia

A great post from Nick Bryant's BBC blog http://www.bbc.co.uk/blogs/thereporters/nickbryant/2011/04/big_tobacco_takes_another_big.html a) Discuss the likely success of these policies in reducing the market failure from the consumption of these demerit goods in Australia

Unit 1: Fines to back up regulation

Sky has news of fines for tanning salons that allow children to use their sun beds http://news.sky.com/skynews/Home/UK-News/Video-UK-New-Law-Bans-Businesses-From-Allowing-Under-18s-To-Use-Its-Sunbeds/Article/201104215968690?f=rss The BBC has an article http://www.bbc.co.uk/news/health-12998030 a) Why does this law apply to children only? b) To what extent do you believe this legislation will reduce sunbed use by children?

Unit 2: Rising EU interest rates

This BBC clip shows the dilema faced by the European central bank; to raise interest rates or not? http://www.bbc.co.uk/news/business-13005958 a) Why should the european central bank increase interest rates? b)...and why not? c) What policy actions could a government take if they believed this rise in rates to be against the need of their economy?

Unit 2: The state of the Australian economy

3 stories from the BBC http://www.bbc.co.uk/news/business-12605475 on growth/GDP http://www.bbc.co.uk/news/business-12605302 on inflation/interest rates http://www.bbc.co.uk/news/business-12983692 on falling unemployment and why interest rates may need to rise in the futre a) Comment on the macroeconomic performance of the Australian economy

Unit 1: University education; a merit good?

Ch4 have this summary of a new report http://www.channel4.com/news/a-university-education-what-is-it-worth a) Define a merit good b) To what extent does university education match that definition? c) Does the free market for university education fail ion the economic sense? d) What, if any, actions should the government take in this market?

Unit 1: Organic food; a luxury good?

Economicshelp has this interesting question http://www.economicshelp.org/blog/economics/organic-food-a-luxury-good/

Unit 2: BoP data

...from tutor2u http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-balance-of-payments/

Unit 2: Balance of Payments current account data

Thanks to tutor2u for this recap of the BoP and the current account data as a % of GDP http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-current-account-deficit/

Unit 2: UK's worst ever trade figures

...report Sky news http://news.sky.com/skynews/Home/Business/UK-Goods-Trade-Gap-Widens-To-Highest-Ever-Level-While-Fourth-Quarter-GDP-Revised-Up-To--05/Article/201103415962136?f=rss ...and a commentary and graph from anforme http://www.anforme.co.uk/blog/?feed=rss2

Unit 2: The multiplier in action: The Ryder Cup's effect on Wales

Nice example of the multiplier effect from the BBC

http://www.bbc.co.uk/news/uk-wales-12834078

Unit 2: UK budget 2011 - 12

A summary from the BBC

http://www.bbc.co.uk/news/uk-politics-12836708

A great interactive guide from the guardian showing income, expenditure and borrowing

http://www.guardian.co.uk/uk/interactive/2011/mar/23/budget-tax

This one shows the sources of income from various taxes

http://www.guardian.co.uk/uk/interactive/2011/mar/24/budget-2011-interactive-tax-guide

...and this one cuts the speech in to chunks related to topics; excellent

http://www.guardian.co.uk/uk/interactive/2011/mar/23/budget-2011-interactive-presentation

...and a commentary from anforme

http://www.anforme.co.uk/blog/?feed=rss2

Unit 2: CPI infation rises to 4.4%

A clear explanation as to why from this BBC clip

http://www.bbc.co.uk/news/business-12821852

and more analysis

http://www.bbc.co.uk/news/business-12817476

Unit 1: Carbon taxes; pros and cons

Thanks to economicshelp for this

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

Unit 1: Specialisation in car production

A great post from tutor2u which shows how car production has changed

http://www.tutor2u.net/blog/index.php/economics/comments/model-t-ford-and-mercedes-benz-specialisation-across-the-ages/

Unit 2: UK interest rates

Thanks to tutor2u for this link to UK interest rates

http://www.tutor2u.net/blog/index.php/economics/comments/uk-economy-nominal-and-real-interest-rates/

Unit 2: UK unemployment data

...courtesy of the guardian

http://www.guardian.co.uk/business/interactive/2009/jun/22/unemployment-and-employment-statistics-recession

Unit 2: Supply side policies: Reduced red tape

http://www.bbc.co.uk/news/business-12782433

Unit 2: Tariff imposed on ceramic tiles

..says the BBC

http://www.bbc.co.uk/news/business-12780151

a) Why has this tariff been imposed?
b) Is the tariff to the benefit of UK consumers?

Unit 2: Macroeconomic objectives data

Tutor2u have got timetric data on all 4 which should update

http://www.tutor2u.net/blog/index.php/economics/comments/keeping-track-of-uk-macro-objectives/

Unit 2: Continuing rising UK unemployment

As reported by the BBC; Youth unemployment is particularly bad

http://www.bbc.co.uk/news/business-12759753

Unit 2: What ends a recession?

A useful evaluative post from economicshelp; note the evaluation of how likely the reason is to occur

http://econ.economicshelp.org/2011/03/what-causes-recessions-to-end.html

Unit 2: Macro data for Europe

Fantastic resource from the guardian

http://www.guardian.co.uk/world/interactive/2011/mar/14/new-europe-statistics-interactive

Unit 2: Economic growth data

The top graph in this post from economicshelp is great

http://econ.economicshelp.org/2011/03/causes-of-economic-cycles.html

a) Decribe the pattern of economic growth for the time period illustrated

Unit 2: Changes to the "basket of goods"

The latest update of "in" and "out" items is in this BBC article

http://www.bbc.co.uk/news/business-12744400

and from Sky

http://news.sky.com/skynews/Home/Business/The-Basket-Of-Goods-And-Services-To-Calculate-Inflation-Updated-To-Include-Dating-Firm-Fees/Article/201103315952703?f=rss

and tutor2u

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/iphone-in-shoulder-of-pork-out/

a) Why do the ONS have this annual update of the goods and services in the basket?

Unit 2: Unemployment compared across countries

Thanks to tutor2u for this graphic

http://www.tutor2u.net/blog/index.php/economics/comments/timetric-unemployment-rates-for-selected-countries/

a) Using the graph for part of your answer, discuss how much of a problem unemployment is for the UK economy

Unit 2: How important is consumption expenditure for the UK economy?

Thanks to tutor2u, we know the answer is "increasingly so"

http://www.tutor2u.net/blog/index.php/economics/comments/timetric-uk-consumption-as-a-share-of-gdp/

UNit 2: Investment revision

All you need to know from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-revision-investment-spending/

Unit 2: Ireland's economic growth and unemployment rate

....is clearly shown in this graphic from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/ireland-mass-unemployment-and-shrinking-gdp/

a) Describe the link between changes in irish GDP and the Irish unemployment rate

Unit 1: Further restrictions on tobacco sales

..this time from proposals to ban displays

http://www.bbc.co.uk/news/health-12680815 article
http://news.sky.com/skynews/Article/201103115948614 article and video

and the case against from the manufacturers

http://www.bbc.co.uk/news/business-12691348

a) To what extent do you believe this measure will reduce the market failure associated with the tobacco market?

Unit 2: Data on long term unemployment

....thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/timetric-long-term-unemployment-in-the-uk/

Unit 1: The costs and benefits of a London to Birmingham (and beyond) high speed rail link

A nice look at both sides of the argument from Roger Harrabin at the BBC

http://www.bbc.co.uk/news/science-environment-12613039

Unit 1: Should Brazil build a hydro-electric dam in the amazon region?

A series of BBC articles may help you form an opinion; The first is the oldest and lthe last one listed the most recent

http://news.bbc.co.uk/1/hi/world/americas/8373504.stm
http://news.bbc.co.uk/1/hi/world/americas/8633786.stm
http://www.bbc.co.uk/news/world-latin-america-12295662
http://www.bbc.co.uk/news/world-latin-america-12586170
http://www.bbc.co.uk/news/world-latin-america-12643261

Want to know more about the dam?
http://en.wikipedia.org/wiki/Belo_Monte_Dam
http://amazonwatch.org/work/belo-monte-dam

a) List the private costs and benefits of constructing the dam and
b) the external costs and benefits (ie positive and negative externalities)

Unit 2: China aims for sustainable growth

The BBC reports

http://www.bbc.co.uk/news/12643690

Unit 2: Balance of Trade data

....from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/timetric-uk-trade-in-goods-and-services/

http://www.tutor2u.net/blog/index.php/economics/comments/timetric-uk-trade-in-goods-and-services/

Unit 2: Unemployment data

...from tutor2 u on

Duration by gender http://www.tutor2u.net/blog/index.php/economics/comments/timetric-long-term-unemployment-in-the-uk/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:22:33:00Z

By region http://www.tutor2u.net/blog/index.php/economics/comments/timetric-regional-unemployment-in-the-uk/

Unit 2: Fiscal policy in China

The BBC repots a proposed tax cut

http://www.bbc.co.uk/news/business-12618201

a) How is this an example of Fiscal policy?
b) Using ad AD/AS diagram, explain the likely effect on the Chinese economy
c) In what way might the outcome have undesirable consequences?

Unit 2: Monetary policy in Brazil

Brazil raises its main interest rate again says the BBC

http://www.bbc.co.uk/news/business-12630315

a) Using an AD/AS diagram, explain is the state of the Brazilian economy and what this interest rate rise is meant to achieve

Unit 2: Australia holds interest rates

A nice summary of the Australian economy

http://www.bbc.co.uk/news/business-12605302
http://www.bbc.co.uk/news/business-12605475

Unit 2: UK economic growth data

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/economics/data-on-economic-growth-in-uk/

Unit 1: Information failure; various examples from tutor2u

These posts from tutor2u are really informative examples of market failure due to information failure

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-health-warnings-on-cigarette-packets/ cigarettes/smoking

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-tesco-and-second-hand-cars/ second hand cars

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-cowboy-builders/ cowboy builders

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-the-bazaar/ the bazaar

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-coca-cola-the-get-fat-diet/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:19:14:00Z Coca Cola

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-going-under-the-knife/ surgery

http://www.tutor2u.net/blog/index.php/economics/comments/information-failure-the-uk-illicit-drug-market/ drugs

http://www.tutor2u.net/blog/index.php/economics/comments/information-failures-broadband-market/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:51:00Z broadband

Unit 1: The rising demand for mead

The BBC reports a rising demand for mead

http://www.bbc.co.uk/news/uk-12575759

a) How would an economist account for the rising demand for mead?

Unit 2: Causes of the current account deficit

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/economics/factors-affecting-current-account-deficit/

Unit 2: What creates economic growth in an economy?

A nice summary from economicshelp

http://www.economicshelp.org/blog/economics/factors-affecting-economic-growth/

Unit 2: Graduate internship: A supply side policy?

The graduate internship scheme may be coming to an end, but this clip argues it's been a worthwhile scheme

http://www.bbc.co.uk/news/business-12517355

a) Explain why the government's expenditure on graduate internships a supply side policy
b) What is the likely effect of the scheme on the UK economy?

Unit 1: Market failure from alcohol consumption

A nice summary of the problem and possible solutions from economicshelp

http://www.economicshelp.org/blog/economics/problem-of-cheap-alcohol/

This BBC clip sums up the problem of leaving alcohol to the free martket

http://www.bbc.co.uk/news/health-12523639

Unit 1: Rising textile prices

A nice clip on rising textile prices in the USA

http://www.bbc.co.uk/news/business-12493349

a) Using the first half of the video only, using a S&D diagram, explain why prices of clothes in the USA ar likely to rise

Unit 2: Conflicting macroeconomic objectives

This is a brilliant clip of Mervyn King explaining the rationale for the monetary policy followed by the BoE as a response to questionning from BBC reporter Paul Mason

http://news.bbc.co.uk/1/hi/programmes/newsnight/9399298.stm

Unit 1: The changing high street: Allocative efficiecy in action?

The BBC reports the changing face of the high street

http://www.bbc.co.uk/news/business-12468346

...whilst Sky reports increasing on-line sales

http://news.sky.com/skynews/Home/Business/UK-Shoppers-Spent-51-Billion-Online-In-January-21-More-Than-Last-Year/Article/201102315936126?f=rss


a) In what way does this illustrate the economy becoming more allocatively efficient in its use of scarce resources?

Unit 2: UK inflation; expected or unexpected?

The first 90 seconds of this BBC clip should give you an indication of whether the current 4% inflation rate was expected or not

http://www.bbc.co.uk/news/business-12489181

Unit 2: Will higher interest rates reduce the UK inflation rate?

A useful post from economicshelp

http://econ.economicshelp.org/2011/02/will-higher-interest-rates-reduce.html

Unit 1: Positive externalities from mroof tiles!

Thanks to tutor2u for this story

http://www.tutor2u.net/blog/index.php/economics/comments/great-example-of-a-product-with-positive-externalities/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:03:19:00Z

Unit 2: UK inflation hits 4%

This BBC clip oulines why inflation has risen again and also illustrates the effects on people in Norfolk

http://www.bbc.co.uk/news/business-12467817

anforme analyse the figures

http://www.anforme.co.uk/blog/?p=1916

a) What are the costs of rising inflation to individuals?
b) What sort of inflation do you think the UK is experiencing? Explain your answer

Unit 2: Inflation: Historical data

Thanks to economics help for this

http://www.economicshelp.org/blog/economics/history-of-inflation-in-uk/

I particularly like the calculator at the top

Unit 2: ....and if you think our inflation is bad...

... then look at the 5 worst cases ever (thanks to tutor2u for finding this)

http://www.cnbc.com/id/41532451

Unit 2: Worsening UK unemployment

The UK jobs outlook looks worse with things particularly bad for youth unemployment that hits 20%

http://news.sky.com/skynews/Home/Business/Unemployment-And-Claimant-Count-Up-Jobless-Youths-Reach-Record-Level/Article/201102315932388?f=rss Sky - the video looks at the impact on 5 youngsters

http://www.bbc.co.uk/news/business-12482126
http://www.bbc.co.uk/news/business-12485160

I really like this graphic from the Guardian
http://www.guardian.co.uk/news/datablog/2010/nov/17/unemployment-and-employment-statistics-economics

.....and as usual a great summary from anforme

http://www.anforme.co.uk/blog/?p=1922

Unit 2: Unemployment data for Germany and Spain

Thanks to tutor2u for this comparative data

http://www.tutor2u.net/blog/index.php/economics/comments/unemployment-in-germany-and-spain/

Unit 2: Economic growth: China moves to no 2

This BBC page has the details and also the latest list of nations by GDP and GDP per capita

http://www.bbc.co.uk/news/business-12427321

Unit 2: Inflation stats

Thanks to tutor2u for pointing me to this site

http://inflationstats.com/uk/

Unit 2: Macro UK data: January 2011

Tuto2u have this great set of charts

http://www.tutor2u.net/blog/files/UK_Economy_Jan_2011.pptx

Unit 2: Monetary policy: Should the BoE raise interest rates?

This is a great audio clip from Hugh Pym on the dilema facing the MPC

http://news.bbc.co.uk/today/hi/today/newsid_9391000/9391753.stm

a) Summarise the arguments for and against a rate rise

Unit 1: Externalities associated with waste incineration

A great BBC video

http://www.bbc.co.uk/news/12394511

a) What are the positve externalities associated with waste incineration?
b) What are the negative externalities associated with waste incineration?

Unit 1: The impact of subsidies: Solar panels

A nice Newsnight clip

http://news.bbc.co.uk/1/hi/programmes/newsnight/9389854.stm

a) Using a S&D diagram, comment on the likely efect of these subsidies on the market for solar panels

Unit 2: BoP data

Thanks to tutor2u for this

http://www.tutor2u.net/blog/files/Balance_of_Payments_Data.pptx

Unit 2: UK worsening trade gap

Sky reports the worst ever figures

http://news.sky.com/skynews/Home/Business/UK-Trade-Gap-Hits-Record-High-In-December-Figures-From-The-Office-For-National-Statistics-Show/Article/201102215926517?f=rss

Unit 2: Supply side policy re unemployment

Sky news report a boost for apprenticeships

http://news.sky.com/skynews/Home/Business/Apprenticeship-Budget-Is-Being-Increased-In-A-Bid-To-Create-100000-More-Positions-By-2014/Article/201102115924858?f=rss

a) Why would this be catagorised as a supply side policy?
b) If successful, show the effect on the UK economy via an AD/AS diagram

Unit 1: Negative externalities associated with obesity

The ambulance service is revamping its vehicles according to the BBC

http://www.bbc.co.uk/news/health-12353243

a) How does the concept of externalities apply to this clip?

Unit 1: Actions around the world to curb smoking

Thanks to tutor2u for pointing out this BBC article

http://www.bbc.co.uk/news/world-11845158

a) Identify the legislative approaches and taxation approaches used by different countries
b) Why do you think the actions vary so much between countries?

New York intends to go even further!

http://www.bbc.co.uk/news/world-us-canada-12352935

c) Comment on the likely success of this policy

Unit 2: EU, USA and Japan unemployment data

http://www.bbc.co.uk/news/business-12333421

Unit 1: How much of the price of petrol goes in tax?

More than you might think! This BBC clip explains all

http://www.bbc.co.uk/news/business-12250225

a) What effect does the high tax on fuel have on demand for petrol and diesel? Why is this the case?

Unit 2: The UK recovery stalls

Two nice clips from the BBC

http://www.bbc.co.uk/news/business-12275611
http://www.bbc.co.uk/news/uk-12288179

and Ch4

http://www.channel4.com/news/uk-economy-shrinks-by-an-unexpected-0-5-per-cent

and anforme commentary

http://www.anforme.co.uk/blog/?p=1856

a) Why has the recovery faltered?
b) Using the AD formula, explain how the government expects the UK economy to grow
c) Why are 20% of last summer's graduates still without work?

Unit 2: Relative price changes

Thanks to tutor2u for this graph showing relative price changes

http://www.tutor2u.net/blog/index.php/economics/comments/changes-in-real-prices/

a) Describe the relative price changes over the time period
b) Sugggest reasons for the relative price changes

Unit 1: Price elasticity of demand in action: Car park pricing

The BBC reports a nasty shock for some consumers

http://www.bbc.co.uk/news/uk-12258329

a) Why are rail car parks able to increase prices so significantly for commuters?
b) Would they be able to do the same thing next year? Explain your reasoning

Unit 2: Who really suffers when the inflation rate rises?

Paul Lewis on the BBC explains

http://www.bbc.co.uk/news/business-12239663

A nice clip of the latest state of the Chinese economy

http://www.bbc.co.uk/news/business-12238997

a) Using the AD formula, explain why the Chinese economy is growing
b) Using an AD/AS diagram, explain why China may be experiencing their rising inflation rate

Unit 2: Why is UK inflation so high?

A fascinating clip from the BBC Daily politics programme about why UK infaltion is comparatively high and whether interst rates should rise

http://www.bbc.co.uk/news/uk-politics-12217592

and Ch4

http://www.channel4.com/news/inflation-rises-to-3-7

a) Why is the UK inflation rate so high?
b) What sort of inflation is the UK therfore experiecing?
c) Draw an AS/AD diagram to show how this inflation occurs
d) Comment on the extent to which increasing interest rates would decrease the UK inflation rate

Unit 1: Should I take a statin?

In my mid-50's, so should I take a statin? I'm no medical expert and it appears I'm suffering from information failure!

http://www.bbc.co.uk/news/health-12225318

Unit 1: Minimum alcohol pricing

The BBC reports a plan for minimum alcohol pricing

http://www.bbc.co.uk/news/uk-politics-12218188

a) Comment on the likely success of such a policy

Unit 2: Rising costs of production in the uK economy

Sky have this video/article on rising costs

http://news.sky.com/skynews/Home/UK-News/Fuel-Price-Rises-Will-Lead-To-Job-Cuts-Small-Businesses-Say/Article/201101415905024?f=rss

a) Using an AD/AS diagram, explain the effect of these rising costs on the UK economy

Unit 2: Latest dire unemployment figures

From Sky comes these clips with the latest unemployment figures, including the dire youth unemployment numbers

http://news.sky.com/skynews/Home/Business/Unemployment-Number-of-Jobless-Rose-To-25-Million-In-The-Three-Months-To-November/Article/201101315898749?f=rss

http://news.sky.com/skynews/Home/Politics/Youth-Unemployment-A-Ticking-Timebomb-Chris-Grayling-Says-As-He-Unveils-Work-Experience-Scheme/Article/201101415909448?lpos=Politics_First_UK_News_Article_Teaser_Region_1&lid=ARTICLE_15909448_Youth_Unemployment_A_Ticking_Timebomb,_Chris_Grayling_Says_As_He_Unveils_Work_Experience_Scheme

From the BBC

http://www.bbc.co.uk/news/uk-12232973

Some personal stories

http://www.bbc.co.uk/news/business-12226193

A good analysis from anforme

http://www.anforme.co.uk/blog/?p=1837



and a good graphic showing the rising proportion of long term unemployed





a) To what extent is unemployment a problem for the UK economy?

Unit 1: Allocative efficiency in action: The changing face of the highstreet

http://news.sky.com/skynews/Home/Business/The-Changing-Face-Of-The-High-Street-Less-Banks-More-Betting-Shops/Article/201101315901136?f=rss

a) Using the definition of allocative efficiency, explain how the concept can be applied to the changing face of the high street

Unit 2: macroeconomic data

The BBC economy tracker for up to date macro data

http://www.bbc.co.uk/news/10613201

Unit 2: Inflation data and analysis for Dec 2010

Up to date inflation data from the BBC and an analysis of the Dec 2010 figures

http://www.bbc.co.uk/news/business-12214546
http://www.bbc.co.uk/news/uk-12214003 video

Unit 2: What should the BoE do with interest rates?

Economics help looks at both sides of the argument

http://econ.economicshelp.org/2011/01/difficult-choices-for-monetary-policy.html

Unit 2: The costs of unemployment

If you want some figures as to hoe rising unemployment effect government finances, this BBC article is useful

http://www.bbc.co.uk/news/uk-politics-12174193

Unit 2: The impact of spending cuts and tax rises on Hastings

An interesting clip from the BBC

http://www.bbc.co.uk/news/uk-politics-12160901

a) Discuss the likely effect on the economy of Hastings of the changes it will face in 2011

Unit 1: Information failure leading to too much smoking

It can't be the case, can it? surely everybody knows smoking long term is bad for your health.........but did you know this?

http://www.bbc.co.uk/news/health-12193602

Unit 2: Which measure of inflation should be used?

A great post from economicshelp

http://econ.economicshelp.org/2011/01/which-inflation-measure-should-we-use.html

Unit 2: Unemployment at Burton's biscuits

The Guardian reports the closure of the Jammie dodgers/Waggon Wheels factory

http://www.guardian.co.uk/business/2011/jan/12/burtons-biscuit-factory-close-jammie-dodgers

a) What type of unemployment will this represent?

Unit 2: Macroeconomic data for the whole world

....in graphical and map form for all coutries of the world! Thanks to tutor2u for this awesome interactive resource

http://www.sacmeq.org/statplanet/StatPlanet.html

Unit 1: The demand for new cars

A nice summary with great data graphs from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/economics-qa-what-economic-factors-affect-the-demand-for-new-cars/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:31:00Z

Unit 1: The effect of rising fuel costs on a haulage firm

This BBC report makes it clear

http://www.bbc.co.uk/news/business-12135523

a) Using a S&D diagram, show the effect of rising fuel costs on the haulage market
b) if the firm is "no longer able to pass on the increased costs" how does the firm survive? How would this change your diagram?

Unit 1: Why world food prices are rising

From the BBC and Ch4 video explanations

http://www.bbc.co.uk/news/business-12124632 BBC
http://www.channel4.com/news/world-food-prices-hit-all-time-high Ch4

Anforme has a blog post on the topic including a nice graphic

http://www.anforme.co.uk/blog/?p=1783

a) Using a S&D diagram, explain why world food prices are rising. (Hint: If you can't do this, then the answer is on this economicshelp post http://www.economicshelp.org/blog/economics/food-inflation/ )

b) Using a S&D diagram, explain why the price of cotton clothes are likely to rise

Unit 1: Repairing potholes: An activity with positive externalities?

Thanks to econoimicshelp for this

http://www.economicshelp.org/blog/economics/no-money-for-potholes/

a) Define positive externalities
b) What are the positive externalities associated with pot hole repair?
c) Comment on the suggestion that repairing potholes is a merit good

Unit ": Which products does the UK have a trade suplus in

Thanks to tutor2u for these interesting stats

http://www.tutor2u.net/blog/index.php/economics/comments/economics-qa-does-the-uk-economy-achieve-a-trade-surplus-in-anything/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:10:01Z

Unit 2: Jan 2011 macro data

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/economics/uk-economy-2011/

Unit 2: The rising cost of unemployment to the government

Sky news reports the rising cost of unemployment to the UK

http://news.sky.com/skynews/Home/Politics/Rising-Unemployment-Will-Cost-An-Extra-14bn-According-To-The-Office-For-Budget-Responsibility/Article/201101115878715?f=rss

Unit 1: Organ donation; a merit good?

Do people fail to donate organs when they die due to information failure? There are certainly positive externalities from organ donation and so governments encourage people to sign up to the organ donation register, but few countries say you have to opt out of donating rather than opting in

These articles raise the issues concerned with organ donation and the latest government nudge for people to sign up

http://www.bbc.co.uk/news/health-12097225 article on new "nudge"
http://www.bbc.co.uk/news/health-12098396 video on new "nudge"
http://www.bbc.co.uk/news/health-12097992 the debate
http://www.uktransplant.org.uk/ukt/newsroom/statements_and_stances/statements/opt_in_or_out.jsp the debate in detail
http://www.bbc.co.uk/news/health-11717150 the impact
http://www.bbc.co.uk/news/health-11688102 the need
http://www.bbc.co.uk/news/health-10786211 an alternative approach


a) To what extent do you believe organ donation to be a merit good?
b) Discuss the likely impact of the new measure on increasing donation levels
c) Discuss whether alternative strategies might be more successful in increasing donation levels

Unit 1: More restrictions on smoking in Spain......and a great article on restrictions around the world

Articles from the BBC on tougher regulations on smoking in Spain

http://www.bbc.co.uk/news/world-europe-12056524
http://www.bbc.co.uk/news/world-europe-12104056

and a great interactive summary of actions around the world

http://www.bbc.co.uk/news/world-11845158

a) Discuss whether the regulatory actions taken in Spain and around the world are likely to reduce the consumption of cigarettes

Unit 1: How to reduce consumption of "unhealthy" food?

The BBC and Sky report a new initiaive from the government

http://www.bbc.co.uk/news/health-12104278 BBC video
http://www.bbc.co.uk/news/health-12099867 BBC article

http://news.sky.com/skynews/Home/Politics/Food-Vouchers-From-Mars-Nestle-Asda-Weight-Watchers-And-More-To-Encourage-Healthier-Eating/Article/201101115877805?f=rss

a) To what extent do you think this initiative will reduce the negative externalities associated with the excessive consumption of high fat/sugar/salt foods?

Unit 1: The social cost of alcohol

An interesting post from the BBC

http://www.bbc.co.uk/news/health-12094800

Unit 2: The personal costs of unemployment

A sobering report from the BBC

http://www.bbc.co.uk/news/health-12087916 video
http://www.bbc.co.uk/news/business-12086055 article

Rising fuel taxes and increasing crude oil prices reported by the BBC

http://www.bbc.co.uk/news/business-12102329

a) Using a S&D diagram, explain the effect on the petrol market of these 2 events

Unit 1: Italy introduces a plastic bag ban

The BBC reports the introduction of a ban

http://www.bbc.co.uk/news/world-europe-12097493

a) How if the free market failing?
b) What sort of action is the government introducing?
c) Comment on the likely success of such a ban in reducing the market failure

Unit 2: The costs of unemployment

A good summary from tutor2u, including data

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