Sunday, January 30, 2011

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

More than you might think! This BBC clip explains all

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

Friday, January 28, 2011

Unit 2: The UK recovery stalls

Two nice clips from the BBC

and Ch4

and anforme commentary

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?

Tuesday, January 25, 2011

Unit 2: Relative price changes

Thanks to tutor2u for this graph showing relative price changes

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

Sunday, January 23, 2011

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

The BBC reports a nasty shock for some consumers

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
A nice clip of the latest state of the Chinese economy

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

and Ch4

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!

Unit 1: Minimum alcohol pricing

The BBC reports a plan for minimum alcohol pricing

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

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

Thursday, January 20, 2011

Sunday, January 16, 2011

Unit 2: The costs of unemployment

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

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

An interesting clip from the BBC

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?

Tuesday, January 11, 2011

Unit 2: Macroeconomic data for the whole world graphical and map form for all coutries of the world! Thanks to tutor2u for this awesome interactive resource

Saturday, January 08, 2011

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

This BBC report makes it clear

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 BBC Ch4

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

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 )

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

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

Sunday, January 02, 2011

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 article on new "nudge" video on new "nudge" the debate the debate in detail the impact the need 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

and a great interactive summary of actions around the world

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 BBC video BBC article

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?

Saturday, January 01, 2011

Unit 1: The social cost of alcohol

An interesting post from the BBC

Unit 2: The personal costs of unemployment

A sobering report from the BBC video article
Rising fuel taxes and increasing crude oil prices reported by the BBC

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

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