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