Unit 2: Macroeconomic data for 2012

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/6641/economics/uk-economy-in-2013/

Unit 1: More information to try and get people to stop smoking

A new public information campaign is launched

http://www.bbc.co.uk/news/health-20856419# video
http://www.bbc.co.uk/news/health-20805059# article

The key statistic for me illustrating the information failure assosciated with smoking is that 50% of smokers will suffer a smoking related illness, but how does a smoker know which 50% they are in?

Unit 1: Rising pork prices

... appear to be on the way, report Sky, and rising costs are driving farmers out of the industry

http://news.sky.com/story/1031197/pig-farming-crisis-to-push-up-pork-prices

a) Using a S&D diagram, explain why pork prices are rising
b) Explain why pig farmers are leaving the industry ant tie this to the supply curve

Unit 1: The cost of parking in Hong Kong

........is on the rise according to Al Jazeera

http://www.youtube.com/watch?v=FmfHhDzgIwU

a) Using S&D analysis, explain why the price of car parking spaces is rising in HK

Unit 1: The role of government in an economy

A brief clip of Joe Stiglitz explaining how income and wealth distribution in the USA has become more and more unequal

http://www.bbc.co.uk/news/world-us-canada-20836074#

Unit 1: Possible negative externalities from extending the Northern line

....report the BBC

http://www.bbc.co.uk/news/uk-england-london-20825528

Unit 1: The PED of fizzy drinks and fresh fruit

Thanks to tutor2u for this interesting story

http://www.tutor2u.net/blog/index.php/economics/comments/price-elasticity-of-demand-soft-drinks-vs-fruit-and-vegetables?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:55:50Z

Unit 2: Monetary policy in Japan

A really good clip from the BBC for evalauating the impact on the Japanese economy of more quantitative easing

http://www.bbc.co.uk/news/business-20801150#

and the associated article

http://www.tutor2u.net/blog/index.php/economics/comments/price-elasticity-of-demand-soft-drinks-vs-fruit-and-vegetables?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:55:50Z

Unit 2: Inflation at 2.7%

...according to the BBC

http://www.bbc.co.uk/news/business-20766392#

Unit 2: Nissan announces £250m investment

...in its UK operations, according to Ch4

http://www.channel4.com/news/nissan-to-create-1-000-jobs-for-uk-with-new-investment

a) Explain how this investment is likely to result in a larger multiplier effect on the UK economy

Unit 1: Shipping in the great barrier reef: A negative externality waiting to happen?

Great story from Aljazeera

http://www.youtube.com/watch?v=38A3XfIScRo

a) Why has the government intervened in the free market?
b) Comment on an alternative policy the government could employ and explai why this would be a worse course of action

Unit 1: Are goods containing vitamin D examples of merit goods?

Possibly, according to the BBC

http://www.bbc.co.uk/news/uk-england-hampshire-20671374

a) Government  subsidies of foods with high levels of vitamin D would be the best method to reduce this market failure. Discuss the validity of this statement

Unit 1: Bigger container ships leading to productive efficiency

Great clip from the BBC showing productive efficiency in sea transport

http://www.bbc.co.uk/news/uk-england-hampshire-20671374

Unit 2: UK unemployment falls by 82000

....reports the BBC

http://www.bbc.co.uk/news/business-20693505#

a) Is this what you expect with near zero growth in the UK?

Unit 1: Payday loans: A failing market that needs government intervention?

Apparently so as legislation is on the way

http://www.channel4.com/news/mps-to-take-action-on-payday-loans

Unit 1: Glossary of key terms

From tutor2u comes this comprehensive glossary. NB It contains more than is required for the OCR syllabus

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-markets-and-market-failure-concept-glossary

Unit 1: Hong Kong air pollution

Air pollution in Hong Kong; a classic case of negative externalities, according to Aljazeera

http://www.youtube.com/watch?v=HoljHRWg3pQ

Unit 1: Does fracking have negative externalities associated with it?

You decide

http://www.bbc.co.uk/news/uk-politics-20628264#

Oil production in Khazakstan may also result in negative externalities

http://www.bbc.co.uk/news/world-asia-20637581#

Unit 1: Should Australia build a natural gas liquification plant?

Plenty of debate in Australia, says Aljazeera

http://www.youtube.com/watch?v=JKtGRY4gkHY

a) Identify private costs, external costs. private benefits and external benefits associated with the project
b) On what basis should the Australian Government reject or accept this proposal?

Unit 2: Government spending 2011-12

2 great graphics from the Guardian

http://www.guardian.co.uk/news/datablog/2012/dec/04/government-spending-department-2011-12

http://www.guardian.co.uk/news/datablog/interactive/2012/dec/04/public-spending-uk-2011-12-interactive

Unit 1: Australia restricts cigarette packaging and Wales hide displays

...according to these articles found by tutor2u

http://www.youtube.com/watch?v=nOeeyS1naSU Aljazeera video
http://www.bbc.co.uk/news/world-asia-20564350 BBC video
http://www.guardian.co.uk/world/2012/dec/01/plain-packaging-australian-cigarette-tobacco article

and what happens to those packets that don't conform to the new law?

http://www.dailytelegraph.com.au/news/national/retailers-selling-cigarettes-cheap-to-beat-plain-packaging-rules/story-fndo2iwh-1226527725990

http://www.bbc.co.uk/news/uk-wales-20588795# Hiding displays video

a) Discuss the extent to which this new policy will reduce the market failure in the cigarette market

Unit 1: Minimum pricing and the end of multi-deals on alcohol

That's the plan, according to the Aljazeera and the BBC

http://www.youtube.com/watch?v=gBIRf_0AgBY Aljazeera
http://www.bbc.co.uk/news/health-20529380# video
http://www.bbc.co.uk/news/health-20522014# video
http://www.bbc.co.uk/news/health-20515918# article

Arguments in favour http://www.bbc.co.uk/news/uk-politics-20528547# (video)and http://www.bbc.co.uk/news/health-20528548# video


a) To what extent do you think these measures would reduce the market failure asociated with this demerit good?

Unit 2: Why hasn't unemployment risen higher in the recession?

Underemployment may be part of the answer

http://news.sky.com/story/1017769/uk-under-employed-total-hits-three-million Sky news article

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-underemployment-in-the-uk-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:01:31Z tutor2u post

This idea of fewer people being made redundant, but more people working fewer hours than they would like to would be a good point to develop for evaluating the current state of employment/unemployment in the economy

Unit 1: Information failure: Grapefruit!

Apotentially lethal example of information failure if you take certain medicines and eat grapefruit

http://www.bbc.co.uk/news/health-20497086#

a) What actions could the government take to reduce this market failure?

Unit 2: Is the Government's flagship supply side policy to reduce unemployment failing?

The early feedback isn't good

http://www.bbc.co.uk/news/uk-20507107# video

http://news.sky.com/story/1017110/welfare-to-work-scheme-misses-its-target Sky article

Unit 2: Why do countries have different growth rates?

An interesting post with good data from economicshelp

http://www.economicshelp.org/blog/6299/economics/what-explains-differences-in-economic-growth-rates/

Unit 2: Inflation and Unemployment resources

.....from tutor2u scoopit

http://www.scoop.it/t/as-macro-inflation-and-unemployment?sc_source=http%3A%2F%2Fwww.tutor2u.net%2Fblog%2Findex.php%2Feconomics%2Fcomments%2Funit-2-macro-revision-resources-on-inflation-and-unemployment%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Beconomics_news%2B%2528tutor2u%2BEconomics%2BBlog%2529%23When%3A19%3A36%3A16Z

Unit 1: The price of Twinkies

Would you pay $1000 for a box of revoltingly sweet cream cakes? Some people might according to Sky news

http://news.sky.com/story/1012920/soon-to-go-twinkies-snapped-up-for-1000

More on the background to the story from Ch4

http://www.channel4.com/news/america-says-goodbye-to-twinkies-ho-hos-and-ding-dongs

a) Using a S&D diagram, explain why a box of twinkies sell for for $1000
b) Using a S&D diagram, explain why this might be a short term phenomenon

Unit 1: Why are property prices so high in Hong Kong?

This clip from the BBC explains all

http://www.bbc.co.uk/news/business-20352103#

A) Using a S&D diagram, explain why HK property prices are rising (Hint: Be careful how you draw the supply curve)

Unit 1: Producive efficiency via larger lorries

A clip from the BBC that highlights the importance of not looking at economics in isolation

http://www.bbc.co.uk/news/uk-england-lincolnshire-20318649#

a) How would the introduction of these lorries in the UK increase productive efficiency?
b) Given this economic advantage, what wider reasons must there be for not allowing them on our roads?

Unit 1: Information failure: How much should you drink if you're pregnant?

It's unclear, according to this BBC clip

http://www.bbc.co.uk/news/health-20344601#

a) How is there an example of information failure in this case?

Unit 1: Increased demand for smartphones

....reports Sky news

http://news.sky.com/story/1011430/global-smartphone-sales-boom-by-47-percent

a) Using demand theory, explain the rapid increase in the demand for smartphones worldwide

Unit 1: The price of potatoes......and chips

.....are on the rise, according to the BBC

http://www.bbc.co.uk/news/business-20317781

a) Using a S&D diagram, explain why the price of potatoes is rising
b) Using a S&D diagram, explain why the price of chips will also be increasing

Unit 1 Productive efficiency: Big lorries!

Nice clip from the BBC

http://www.bbc.co.uk/news/uk-england-lincolnshire-20318649

a) IN what way does this relate to the concept of productive efficiency?

Unit 1: The Nutella tax

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/the-nutella-tax-a-tax-on-negative-externalities

a) Using a diagram, explain the market failure associated with the consumption of Nutella
b) Using a diagram, comment on how succesful the propsed tax will be in reducing the market failure

Unit 1: Market failure Scoop it resource

http://www.scoop.it/t/marketfailure

Unit 2: AD and AS Pinterest resource

http://pinterest.com/geoffriley/aggregate-demand-and-aggregate-supply/

Unit 1: Denmark abandons the fat tax

...according to the BBC

http://www.bbc.co.uk/news/world-europe-20280863

This was the original policy

http://www.bbc.co.uk/news/world-europe-15137948

a) Why has Denmark abandoned this attempt to reduce the market failure caused by saturated tax?
b) Comment on the notion that this is the end of their campaign to reduce obesity

Unit 2: Causes of European unemployment

Thanks to economicshelp for this, including nice comparative data

http://econ.economicshelp.org/2009/05/european-unemployment.html

Unit 1: Negative externalities from building the 3 gorges dam

Many, according to the BBC

http://www.bbc.co.uk/news/world-asia-china-20176498

a) What are the negative externalities identified?
b) So why did the dam go ahead (Hint: Use ECONOMICS in your answer!)

Unit 2: Using mobile phones whilst driving: An example of a demerit good

I love the Australian approach, no mucking about according to this Aljazeera clip

http://www.youtube.com/watch?v=ST_ajwmdYWw

a) What is the market failure arising from using mobile phones in cars?
b) To what extent do you think this new law will eliminate the market failure?

Unit 1: Poor wine harvests likely to push up the price of a bottle of wine

........according to this BBC article

http://www.bbc.co.uk/news/world-europe-20152231#

a) Using a S&D diagram, explain why the price of wine for UK consumers is likely to rise
b) Do you think all wines will rise by the same amount? Explain your reasonong

Unit 1: Carbon monoxide monitors: An example of merit goods?

In Northern Ireland new rules insist carbon monoxide monitors are fitted

http://www.bbc.co.uk/news/uk-northern-ireland-20156809#

a) Why are there monitors underconsumed in the free market?
b) What positive externalities do they produce?
c) To what extent do you think the new regulations will reduce the market failure(ie the cases of carbon monoxide poisoning)

Unit 2: Inequalitiy of income resulting from China's economic growth

3 clips from the BBC illustrating the problem

http://www.bbc.co.uk/news/world-asia-20174711#
http://www.bbc.co.uk/news/world-asia-china-20163802#
http://www.bbc.co.uk/news/world-asia-china-20149568#

Unit 2 EU unemployment data

Great bar chart in this Guardian article showing EU unemployment rates

http://www.guardian.co.uk/news/datablog/2012/oct/31/europe-unemployment-rate-by-country-eurozone

and BBC video

http://www.bbc.co.uk/news/business-20156970#

and BBC article

http://www.bbc.co.uk/news/business-20153497#

a) Discuss the extent to which unemployment is a problem in the EU (Make sure you use the data and make evaluative comments)

Unit 1: Costs, benefits and externalities from a Siberian dam

Great clip from the BBC

http://www.bbc.co.uk/news/world-europe-13786515

a) Explain private benefits that will arise from the project
b) Explain private costs that will arise from the project
c) Explain external benefits (positive externalities) that will arise from the project
d) Explain external costs (negative externalities) that will arise from the project

Unit 1: An unusual example of a negative externality from smoking cannabis

We all know the standard arguments against smoking cannabis, both in terms of private costs, private benefits and external costs..............but here's an unusual one from the BBC

http://www.bbc.co.uk/news/world-asia-20107973#

a) What are he private costs and private benefits from consuming cannabis?
b) Explain, using the standard definition, the negative  externality outlined in the article
c) How does the market fail?

Unit 2: GDP growth and unemployment rates for non EU countries

......courtesy of economicshelp

http://www.economicshelp.org/blog/6071/economics/econ-growth-and-unemployment-stats-countries-with-own-currency/

Unit 1: Common food labelling

...is on the way, according to the BBC

http://www.bbc.co.uk/news/health-20054005#

a) Why does the government want this common scheme? ie how does the free market for food fail?
b) Comment on the extent to which this scheme, if introduced, would reduce the market failure

Unit 1: The price of a driving permit in Shanghai

Thanks to tutor2u for pointing out this article

http://www.shanghaidaily.com/nsp/Metro/2012/10/21/Demand%2Bkeeps%2Bplate%2Bprices%2Bhigh/

a) Using a S&D diagram, explain the rising price of a driving permit in Shanghai

Unit 2: Consumption and AD data Oct 2012

Thanks to tutor2u for this data

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-are-uk-consumers-on-the-comeback-trail?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:40:02Z

Unit 2: How useful is GDP? Robert Kennedy's speech

Thanks to tutor2u for providing access to this wonderful clip of Bobby Kennedy questionning the point of measuring a country's standing by using GDP. You don't get speeches like this from politicians today (more's the pity)

http://www.tutor2u.net/blog/index.php/economics/comments/how-useful-gdp-is-as-a-measure-of-well-being-that-old-chestnut-once-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:04:52Z

Units 1 and 2: The costs of economic growth

....as seen in China with the negative externalities from China's rapid expansion clear to see

http://www.bbc.co.uk/news/world-asia-19995748#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa

a) What are the negative externalities highlighted in the film?
b) Why are these negative externalities?

Unit 1: Why are rents for flats and houses increasing?

A great audio clip from Radio 5live

http://www.bbc.co.uk/news/business-20003890#

Can you apply the following economic concepts to the clip?
Supply; Demand; equilibrium; complements, substitutes, Ped, XED

Unit 1: Changing taste and fashion in India

It appears even India can't escape the global reach of Starbucks......I wonder if they'll pay any taxes in India?

http://www.bbc.co.uk/news/business-20003701#

...and Costa as well

http://www.bbc.co.uk/news/business-19999782#

Unit 1: Why world food prices wil rise in the future

Great clip from Newsnight

http://www.bbc.co.uk/news/world-us-canada-19986655#

and a similar story from Aljazeera

http://www.youtube.com/watch?v=eT8aM_XPV1I


a) Using S&D theory, analyse why food prices are likey to rise
b) Comment on the idea that food price rises in the future are inevitable

Unit 2: Macro problems for the UK economy

A nice summary and great, up to date data, from economicshelp

http://www.economicshelp.org/blog/5962/economics/main-problems-of-uk-economy/

Unit 2: Inflation terms exlained

...by the BBC

http://www.bbc.co.uk/news/uk-politics-19909868#

Unit 2: The costs of youth unemployment to Spain

......the young are emigrating, according to the BBC

http://www.bbc.co.uk/news/world-europe-19868408#

a) What are the short and long run costs and benefits to Spain of  this emigration by their unemployed young people?

Unit 1: Liquid nitrogen cocktails: Acase for government intervention in the free market?

I couldn't believe this story

http://www.bbc.co.uk/news/uk-19878511#

a) What example of market failure would such drinks represent?
b) What methods of government intervention could be used to eliminate he market failure?
c) Comment on the likely success of such policies

Unit 2: UK budget deficit

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/5922/economics/uk-budget-deficit/

Unit 1: Why will UK food prices rise?

The poor summer weather and knock on effects are the cause according to the BBC

http://www.bbc.co.uk/news/uk-19892971 video
http://www.bbc.co.uk/news/uk-19890250 article

Using S&D analysis, explain why the price of foods such as bread, milk and beef will rise

Unit 2: What determines how internationally competitive a country is?

Thanks to economicshelp for this summary

http://econ.economicshelp.org/2007/06/what-determines-international.html

Unit 2: Unemployment in the USA

Great map from the Guardian

http://www.guardian.co.uk/news/datablog/interactive/2011/sep/08/us-unemployment-obama-jobs-speech-state-map

a) Using information from the map and the evaluative criteria covered in class, discuss how much of a problem unemployment is for the US economy

Unit 1: Seasonal demand for new cars

Nice graph in this post from Sky news showing the seasonal nature of new car sales in the UK

http://news.sky.com/story/993106/new-car-registrations-get-number-plate-boost

a) Which determinant of demand is causing this twice yearly peak?

Unit 2: Economic growth data

Thanks to economicshelp for this up to date for the UK and other countries

http://www.economicshelp.org/blog/5843/economics/economic-growth-stats/

Unit 2: Does a current account deficit matter?

Nice evaluation from economicshelp

http://econ.economicshelp.org/2007/03/does-current-account-deficit-matter.html

Unit 1: Pension auto-enrollment: Action to reduce market failure?

This BBC clip explains the process

http://www.bbc.co.uk/news/uk-19783248#

a) How does the free market for pensions fail?
b) Comment on the extent to which this scheme will reduce the market failure

Unit 2: Understanding unemployment figures

I like this summary article from the BBC

http://www.bbc.co.uk/news/business-19745115

Unit 2: The costs of unemployment

Nice article from the BBC

http://www.bbc.co.uk/news/business-19784062

Unit 1: Rising demand for Chinese beer

....according to the BBC

http://www.bbc.co.uk/news/business-19753836#

a) Why has demand for beer risen in China and Thailand?

Unit 1 and 2: Should governments intervene in markets and the economy?

Nice summary from economicshelp

http://www.economicshelp.org/blog/5735/economics/should-the-government-intervene-in-the-economy/

Unit 2: The purpose of monetary policy

A nice summary from economicshelp

http://www.economicshelp.org/blog/5740/inflation/purpose-of-monetary-policy/

Unit 2: UK balance of payments

A fantastic summary of the topic, including up to date data, from economicshelp

http://www.economicshelp.org/blog/5776/trade/uk-balance-of-payments/

Unit 1: Changing demand for Dominos pizza

This Sky news article is a good example of the role of substitutes in demand

http://news.sky.com/story/989606/dominos-pizza-gets-big-summer-boost

a) Draw 2 demand diagrams to show the changing demand for pizzas; on-line and other methods

Unit 2: UK inflation data and stats

Another thanks to economicshelp

http://www.economicshelp.org/blog/5720/economics/inflation-stats-and-graphs/

Unit 2: UK unemployment data and stats

...thanks to economicshelp

http://www.economicshelp.org/blog/5695/stats/unemployment-stats-and-graphs/

Unit 1: Meat prices to rise

....reports Sky news

http://news.sky.com/story/987059/food-prices-to-soar-after-mass-animal-slaughter

a) Draw a S&D diagram to show the effects  of the drought on animal feed prices
b) Draw a S&D diagram to show the effects of this increase in animal feed prices on the price of pigs
c) Draw a S&D diagram to show the effects of the decision by farmers to slaughter more pigs on the price of pork in the short run
d) Draw a S&D diagram to show the effects of reduction in the number of pigs on farms  on the price of pork in the long run

Unit 1: Negative externalities from whisky production in the USA

Nice story from Aljazeera

http://www.youtube.com/watch?v=L2W_6QJ2S2I

a) What is the negative externality and why is it a negative externality?
b) Comment on the likely success of different approaches to solve the problem and reduce the market failure

Unit 2: Growth rates in selected countries

Thanks to tutoir2u for the word document in this post

http://www.tutor2u.net/blog/index.php/economics/comments/teaching-macro-data-on-real-gdp-growth-rates

Unit 2: Latest UK and EU unemployment data

UK from the BBC

http://www.bbc.co.uk/news/business-19574511#

and EU from economicshelp

http://www.economicshelp.org/blog/1247/economics/european-unemployment/

Unit 2: Latest position of the Australian economy

....isn't that clear, according to this BBC clip

http://www.bbc.co.uk/news/business-19472196#

Unit 1: Should a law be passed to make bars with a violent past srve beer in plastic containers?

.....you might think so having watched this

http://www.bbc.co.uk/news/uk-wales-19484560#

a) Explain how the free market explains in this case
b) Comment on the likelyhood that such a law would reduce the market failure

Unit 1: Banana prices to rise!

Anyone who knows me will understand my concern about this forthcoming hike in banana prices!

http://news.sky.com/story/980166/going-bananas-fruit-price-hike-warning

a) Using a S&D diagram, explain why banana prices are set to rise

Unit 1: Increasing demand for private jets in China

...according to the BBC

http://www.bbc.co.uk/news/world-asia-china-19415655#

a) Explain, using the determinants of demand, why the demand for private jets has grown so rapidly in China

Unit 1: Cannabis; a demerit good?

Interesting clip from the BBC based on long term research

http://www.bbc.co.uk/news/health-19394368#

a) Define the term "merit good"
b) To what extent is cannabis a demerit good?
c) Comment on the likely success of government policies to reduce the market failure associated with cannabis consumption

Unit 1: Market failure glossary

Thanks to tutor2u for this; remember this is not OCR specific and so contains some words you don't specifically need for the exam

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-market-failure-glossary?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:06:08:42Z

Unit 1: Positive externalities from the V festival

....according to this BBC clip

http://www.bbc.co.uk/news/uk-england-essex-19347728#

a) State the positive externality in the video and explain why it is a positive externality

Unit 1: Does the Russian space programme have negative externalities?

Some locals in remote areas of Russia think the answer might be "yes" according to the BBC

http://www.bbc.co.uk/news/world-europe-19314649#

Unit 1: Standard cigarette packaging in Australia

...is on its way

http://news.sky.com/story/972658/australia-upholds-logo-ban-on-cigarette-packs Sky

Will it work?

http://www.bbc.co.uk/news/health-19267740#

Unit 1: Positive externalities from solar lights

An interesting video from Aljazeera

http://www.youtube.com/watch?v=QtpO6GaTaIg

a) What would be the private costs and benefits to a firm of fitting this system?
b) What would be the positive externalities/external benefits of this system?
c) What actions, if any, should the government take in this market?

Unit 1: Negative externalities from economic growth in Hong Kong

...according to the BBC

http://www.bbc.co.uk/news/business-19204836#

Unit 2: Worsening UK trade figures

....from Sky news

http://news.sky.com/story/970588/uk-trade-deficit-rises-as-ecb-doubts-growth

Unit 1: Chocolate prices to rise

....reports Sky news

http://news.sky.com/story/969509/chocoholics-hit-by-west-african-drought

a) Using a S&D diagram, explain why chocolate prices are likely to rise

Unit 1: The changing demand for books

Amazon have sold more ebooks than paper books, reports Sky news

http://news.sky.com/story/969252/amazon-sells-more-ebooks-than-printed-titles

a) Using Demand analysis, explain what has happened in both the ebook market and the paper book market

Unit 1: Will a waste recycling facility lead to negative externalities?

You decide after watching this BBC Wales clip

http://www.bbc.co.uk/news/uk-wales-19023473#

Unit 2: The AD function for the USA

I love this from Planet Money, the US GDP sliced and diced.

http://www.npr.org/blogs/money/2012/07/27/157444854/the-u-s-gdp-sliced-and-diced-in-two-graphics?ft=1&f=93559255

Unit 1: Flu vaccine for all children in UK

A major policy decision by the UK government

http://www.bbc.co.uk/news/health-18979106#

a) Explain, with examples, the private costs and benefits of this policy
b) Explain the positive externalities associated with this policy
c) What type of market failure is this policy trying to counter?
d) Using a diagram, explain how this policy will reduce the market failure in the vaccine market

Unit 2: UK recession worsens

....according to the preliminary data for the last quarter

http://www.economicshelp.org/blog/5581/economics/double-dip-recession-deepens/
http://www.channel4.com/news/how-the-construction-sector-is-impeding-the-recovery Ch4 inc video
http://www.bbc.co.uk/news/uk-18989652 BBC
http://www.bbc.co.uk/news/business-18989329# BBC
http://www.bbc.co.uk/news/business-18981645# BBC

Unit 2: How happy are you? The National Wellbeing survey results are out

....and might add to the stark GDP per capita figure as a measure of economic wellbeing

The data is from the Guardian and the BBC

http://www.guardian.co.uk/news/datablog/2012/jul/24/how-happy-are-you-wellbeing Guardian
http://www.bbc.co.uk/news/uk-politics-18966729# BBC

Unit 1: Nepal cracks down on drink driving

....according to Aljazeera

http://www.youtube.com/watch?v=HlbNC-rH5os

a) Why is drink driving an example of market failure?
b) Comment on the likely success of the zero alcohol policy in reducing the market failure

Unit 1: Negative externalities from gold mining in Nigeria

A deeply depressing report from Aljazeera

http://www.youtube.com/watch?v=nGleguEq_JI

a) Using economic theory, explain how the unregulated mining industry isfailing in Nigeria
b) Discuss alternative strategies the Nigerian government could take to reduce the market failure

Unit 1: The impact of the USA corn crop failing

....can be large, say Aljazeera

http://www.youtube.com/watch?v=139xi2a3c8Q

a) Using a S&D diagram, explain the likely effect of this drought on US corn prices
b) Using a S&D diagram, explain the effect on corn related proucts such as foodstuffs and biofuel

Unit 1: Alcohol ban on scottish trains

...according to the BBC

http://www.bbc.co.uk/news/uk-scotland-18930963#

a) Using economic theory, explain why this ban has been put in place
b) Comment on the likely succes of the policy in reducing market failure

Unit 1: How far should the alcohol market be regulated?

As much as the tobacco industry? That appears to be the direction MP's are suggesting in this BBC video

http://www.bbc.co.uk/news/health-18898242#

a) How does the free market for alcohol fail?
b) To what extent would these new proposals reduce the market failure?

Unit 2: How well is the Australian econmy doing?

A mixed picture behind the encouraging headline data, reports the BBC

http://www.bbc.co.uk/news/business-18896812#

Unit 2: The costs of unemployment

....as shown by NEETS in Huddersfield (BBC video)

http://www.bbc.co.uk/news/uk-18882588#

Unit 2: An investment boost for the UK economy?

Apparently so according to a Government announcement

http://news.sky.com/story/961586/uk-economy-is-given-50bn-investment-boost Sky
http://www.bbc.co.uk/news/uk-18881927# BBC

...but this isn't the government spending; they're promising to underwrite projects, not pay for them

Unit 1: Laws to ensure e-waste is recycled

Thanks to tutor2u for finding this Aljazeera video

http://www.youtube.com/watch?v=v1TaDwPUu4c&feature=player_embedded

a) What is the market failure that has lead to the introduction of this EU law?
b) Comment on the likely success of the policy in reducing the market failure

Unit 2: UK inflation falls to a 31 month low

.....according to Sky news and the BBC

http://news.sky.com/story/961190/record-rainfall-helps-inflation-fall-sharply sky
http://www.bbc.co.uk/news/business-18867248# BBC article
http://www.bbc.co.uk/news/18874387# BBC video

and timetric have the latest data visually

http://byline.timetric.com/2012/07/17/uk-cpi-inflation-continues-to-slow/

Unit 1: positive and negative externalities from rubbish

Nice clip from Aljazeera about rubbish disposable in Brazil

http://www.youtube.com/watch?v=5VzcsrZ5tDs

a) Using examples from the video clip, explain positive and negative externalities that arise from Rubbish disposal methods in Brazil

Test post to twitter

Unit 1: The economics of the milk industry

Thanks to tutor2u for this compilation of video clips regarding the milk industry

http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-economics-of-the-milk-industry?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:09:03:48Z

Unit 1: Increasing investment in the UK economy

The UK's factors of production will increase as BMW increases its investment in its UK Mini plant

http://www.channel4.com/news/bmw-to-invest-250-in-uk-mini-factories

a) Why is this an example of investment?
b) Explain the effect on the UK PPC of this investment and show this on a diagram
c) Comment on the extent to which this will increase  economic growth in the UK

Unit 2: The £ appreciates against the Euro

.....ta a 4 year high, according to the BBC

http://www.bbc.co.uk/news/business-18734851#

a) Using a suitable diagram, explain why the £ has appreciated against the Euro
b) Who benefits and who loses in the UK from this appreciation of the £?

Unit 2: China cuts interest rates

....according to the BBC

http://www.bbc.co.uk/news/business-18723170#

a) Explain how this cut in interest rates should lead to increased economic growth in China
b) Comment on how successful this policy is likely to be in achieving the objective

Unit 1: Economics and the death penalty

Regardless of the moral arguments, the economics of California operating a death penalty is under scrutiny, reports the BBC

http://www.bbc.co.uk/news/world-us-canada-18735471#

a) Using the concept of opportunity cost, explain why some Californians might like to see the death penalty abolished

Unit 1: The PED for plastic bags in Wales

An interesting post from tutor2u on the impact of a 5p per bag charge on non-reusable plastic bags in Wales

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-welsh-plastic-bag-charge-reduces-demand?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:06:49:27Z

a) To what extent does the demand for plastic bags in Wales appear to be price elastic?
b) Given this data, comment on whether the policy should be extended to the rest of the UK

Unit 2: Increasing duration of unemployment in the USA

A disturbing post from Planet Money

http://www.npr.org/blogs/money/2012/07/06/156196624/how-unemployment-has-dragged-on-in-three-charts?ft=1&f=93559255

a) Explain why this increasing length of unemployment  means unemployment is a growing problem for the US government
b) Comment on the most appropriate action the US government could take to reduce the number of long term unemployed

Unit 2: The London Olympics and the multiplier effect

.....................as explained by Sky

http://news.sky.com/story/955358/olympics-to-give-uk-economy-16-5bn-boost

and this BBC video

http://www.bbc.co.uk/news/business-18838527#

and this BBC audio clip

http://news.bbc.co.uk/today/hi/today/newsid_9735000/9735320.stm#

a) Explain how the hosting of the Olympics will have a multiplier effect on the economy
b) Discuss how will this effect the Governments 4 macroeconomic objectives

Unit 2: GDP per capita in Europe

Anforme have this great comparative data showing the huge disparity in GDP per capita within the EU

http://www.anforme.co.uk/blog/?p=2694

Unit 1: Australia launches a carbon tax

Thanks to tutor2u for this post with links to 2 further BBC stories

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-australia-launches-carbon-tax

and from Aljazeera

http://www.youtube.com/watch?v=k21F2V2An8M


a) Discuss the pros and cons of introducing a carbon tax to reduce the failings of the free market

Unit 1: Regulation to overcome information failure: Car tyres

Interesting clip from the BBC

http://www.bbc.co.uk/news/uk-18663023

Unit 1: Negative externalities from diesel use

Pretty bad, according to the BBC

http://www.bbc.co.uk/news/health-18420990#

but maybe there's hope for the future, according to Aljazeera (in this tutor2u post)

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-miro-greener-fuels-for-improved-public-health

Unit 2: Should central banks have an inflation target?

A nice pros/cons summary from economicshelp

http://www.economicshelp.org/blog/5397/inflation/inflation-targetting-pros-and-cons/

Unit 2: Cutting interest rates in China to stimulate economic growth

A great clip from the BBC

http://www.bbc.co.uk/news/world-asia-18363065#

a) Using the AD formula, explain the slowdown in economic growth in China
b) Explain how decreasing interest rates should stimulate economic growth
c) Why might additional growth not occur?

Unit 2: Australia cuts interest rates

....reports the BBC

http://www.bbc.co.uk/news/business-18327769#

a) Explain why this action has been taken and comment on the likely success of this policy

Unit 1: Legislation to reduce the negative externalities from soda consumption

Great article from the Guardian about the plan of NY mayor Michael Bloomberg to ban the selling of supersize drinks

http://www.guardian.co.uk/world/2012/may/31/new-york-mayor-soda-obesity

a) What negative externalities could arise from the free market sale of supersize drinks?
b) What alternative policies could the Mayor have used instead of an outright ban?
c) Comment on the likely success of the ban in reducing the market failure

Unit 1: The opportunity cost of logging and mining in Tasmania

Nice clip from Aljazeera

http://www.youtube.com/watch?v=UK8C9_l4QDg

a) How can the concept of opportunity cost be used to explain the choices to be made?
b) Using a PPC, show and explain the opportunity cost of increasing mining in Tasmania

Unit 1: The negative externalities associated with drink driving

...as shown in this sad interview on the BBC

http://www.bbc.co.uk/news/uk-wales-18289878#

Unit 2: GDP and GDP per capita visualised

For visual learners, a great post from Planet Money

http://www.npr.org/blogs/money/2012/05/30/153950742/the-worlds-richest-countries-and-biggest-economies-in-2-graphics?ft=1&f=93559255

Unit 2: A cost of rapid Chinese economic growth

.. in Beijing records the BBC

http://www.bbc.co.uk/news/world-asia-pacific-18245040#

a) What is the cost of growth identified?
b) Explain one other cost from the rapid expansion of Beijing

Unit 2: critisisms of GDP

.....from one of my heroes as I was growing up, Robert Kennedy (if you're too young and the name means nothing, google him or go to Wikipedia), courtesy of the guardian

http://www.guardian.co.uk/news/datablog/2012/may/24/robert-kennedy-gdp

Unit 1: Which policies could promote economic growth?

A fantastic summary of how fiscal, monetary and supply side policies could help achieve economic growth from economicshelp

http://www.economicshelp.org/blog/5272/economics/policies-for-economic-growth/

Unit 2: The components of Aggregate Demand

Explanation and data from tutor2u

http://www.economicshelp.org/blog/5301/economics/components-of-aggregate-demand/

Unit 1: Supply and Demand: Revision powerpoint

....from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-revision-presentation-on-the-price-mechanism?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:23:21Z

Unit 2: Youth unemployment in the UK and across the OECD

Get the data for different regions of the UK from the Guardian

http://www.guardian.co.uk/news/datablog/interactive/2011/nov/16/youth-unemployment-map

and comparisons across the OECD

http://www.guardian.co.uk/news/datablog/2012/may/16/youth-unemployment-europe-oecd

a) How equitably is youth unemployment spread across
1.the UK?
2. the OECD?

Unit 1: Elasticity: Revision posts from tutor2u

Price ED

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-price-elasticity-of-demand?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:40:29Z

and powerpoint

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-revision-presentation-on-elasticity-of-demand?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:38:21Z

Income ED

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-income-elasticity-of-demand

Price ES

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-price-elasticity-of-supply

and powerpoint

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-revision-presentation-on-elasticity-of-supply

Unit 1: What will be the effect of a minimum alcohol price?

This Guardian article shows how prices will be effected

http://www.guardian.co.uk/news/datablog/2012/may/14/scotland-minimum-alcohol-price-effect

and this article from tutor2u

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-minimum-price-on-alcohol

Unit 2: Revision: Supply side policies

Revision from tutorhttp://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-revision-notes-on-supply-side-policies?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:00:29Z2u

Unit 2: Macro data: May 2012

Great data from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/macro-revision-key-statistics-on-the-uk-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:23:14Z

Unit 1: Are youngsters suffering from information failure about alcohol?

Great clip from the BBC about youngsters in the North East

http://www.bbc.co.uk/news/health-17983721#

Unit 1: Negative externalities from excessive alcohol consumption in Australia

Just the same as in the UK, reports Aljazeera

http://www.youtube.com/watch?v=wOKWKBItuCg

Unit 2: Youth unemployment; the problem and possible solutions

A nice summary, including comparative EU data, from economicshelp

http://www.economicshelp.org/blog/5245/economics/how-to-deal-with-youth-unemployment/

Unit 2: Macroeconomic data: May 2012

Latest data thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/macro-revision-key-statistics-on-the-uk-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:23:26Z

Unit 1: The fall in demand for Nintendo products

....acording to the BBC

http://www.bbc.co.uk/news/technology-17853764#

a) Using the determinants of demand, explain the fall in demand for Nintendo products

b) Draw a diagram to show what has happened to the demand curve for Nintendo products

Exam technique

2 posts from economics help

http://www.economicshelp.org/blog/5198/economics/preparing-for-economics-exam/ on preparing for the exam, and
http://www.economicshelp.org/blog/542/economics/evaluation-for-exams/ on evaluation

Unit 1: Is water a factor of production?

If it is, then many African countries have more resources than they thought according to this report from Aljazeera

http://www.youtube.com/watch?v=c-fOi0iBUL8

a) Using a PPC, explain the effect on a country that suddenly finds it fop have increased

Unit 2: The problem of measuring the true rate of unemployment

A good article for some unemployment figures evaluation from anforme in the form of the rising number of people underemployed

http://www.anforme.co.uk/blog/?p=2615

Unit 1: VAT on static caravans

...reports the BBC

http://www.bbc.co.uk/news/business-17769636#

a) Using a S&D diagram, explain the likely effect on the static caravan market of imposing VAT on static caravans

Unit 2: Preparing for the macro exam

Fantastic, data packed revision aid from tutor2u, BUT, note that it's not OCR specific and so if there are things in here you don't think we've covered, they're most likely not specifically needed for OCR

http://www.tutor2u.net/blog/index.php/economics/comments/preparing-for-the-as-economics-macro-paper-2012

Unit 1: The falling demand for CD's

The BBC reports a plunge in CD sales

http://www.bbc.co.uk/newsbeat/17754328

a) Using the list of the determinants of demand, explain why the demand for CD's is falling
b) Show this effect on a demand diagram

Unit 1: Should we have a fat tax to tackle the problem of obesity?

Great argument in favour from the BBC

http://www.bbc.co.uk/news/uk-politics-17755788#

Unit 1: Logo free cigarette packets in Australia

...are proposed, says the BBC

http://www.bbc.co.uk/news/world-asia-pacific-17751922#

a) How likely are such packets to reduce the market failure in the tobacco market?

Unit 1: D&S in action: Bullet proof cars in Brazil

Fantastic clip from the BBC

http://www.bbc.co.uk/news/world-latin-america-17750790#

a) Using a S&D diagram and the determinants of S&D, explain the rapid rise in sales of bullet proof cars in Brazil

Unit 2: UK inflation creeps up

....according to these BBC video clips

http://www.bbc.co.uk/news/business-17743702#
http://www.bbc.co.uk/news/business-17747009#

a) Using an AD/AS diagram explain the cause of this increase in inflation

Unit 1: Allocative efficiency in the milk market

Sky have this good example of allocative eficiency in the use of scarce resources

http://news.sky.com/home/business/article/16210193

a) Why does this story reflect the concept of allocative efficiency?

Unit 1: More actions to reduce smoking

...reports Aljazeera as the display ban comes in to force in large stores

http://www.youtube.com/watch?v=FfWIlbLXKWM

....and this 2 sided discussion on Sky

http://news.sky.com/home/business/article/16207897

a) How does the free market for tobacco fail?
b) Evaluate the extent to which this ban is likely to reduce the market failure

Unit 2: Revision and data: Balance of Payments

All you need to know with supporting data

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-the-uk-balance-of-payments-in-2011

Unit 2: Revision: Inflation

Another great slideshow from tutor2u

http://www.slideshare.net/tutor2u/buss4-inflation?ref=http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-inflation-and-the-business-environment

Unit 2: Revision: Economic growth, AD and GDP

Great revision presentation from tutor2u

http://www.slideshare.net/tutor2u/buss4-business-cycle-economic-growth?ref=http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-how-the-economic-cycle-affects-businesses?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:05:10Z

Unit 2: Real v nominal data

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-revision-on-real-economic-data

Unit 2: Unemployment : Data and hysteresis

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-unemployment-scarring-effects

Unit 2: Real disposable income and Consumption

Nice revision piece with data from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-revision-on-real-disposable-income

Unit 1: Rising Air Passenger Tax

....reports the BBC

http://news.sky.com/home/business/article/16200200
http://www.bbc.co.uk/news/business-17576620

a) What market failure is the tax meant to reduce?
b) Using a S&D diagram, explain how likely this tax will be to (1) reduce the market failure and (2) increase government revenue

Unit 2: What determines the level of capital investment by firms?

Nice summary from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-revision-on-capital-investment

Unit 1: The rising price of coffee

Great clip from Aljazeera

http://www.youtube.com/watch?feature=player_embedded&v=6iqNEiAI1lY

a) Using a S&D diagram, explain the paid rise in the price of coffee. Think how you will draw both the D and S curves; do you think D and/or S will be price elastic or inelastic?

Unit 2: Actions to reduce youth unemployment

Some good data in this article from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/blanchflower-calls-for-more-action-to-address-youth-jobless-crisis

Unit 2: Updated macro data

...from tutor2u covering GDP and consumption (amongst others)

http://www.tutor2u.net/blog/index.php/economics/comments/life-in-the-slow-lane-uk-growth-in-2011-lags-the-euro-area

Unit 1: Is the demand for postage stamps price elastic or inelastic?

We'll soon find out as Royal Mail hikes its prices

http://news.sky.com/home/business/article/16197145 sky news video
http://www.bbc.co.uk/news/business-17522500 BBC article
http://www.bbc.co.uk/news/business-17530049 BBC video
http://www.bbc.co.uk/news/business-17522683 BBC interview

a) Why has Royal mail decided to increase its prices?
b) What does that tell you about their perception of the PED for stamps?
c) Using the list of factors that determine whether D is elastic/inelastic, explain why this might, and might not, be the case

Unit 2: Raising the school leaving age: How successful would this supply side policy be

A nice evaluation from economicshelp

http://www.economicshelp.org/blog/5097/economics/should-school-leaving-age-be-raised-to-18/

Unit 2: Who do we trade with?

The second half of this article from economicshelp shows our major trading partners

http://www.economicshelp.org/blog/5083/economics/what-does-the-uk-produce/

Unit 2: Are there any benefits of inflation?

Some, says economicshelp

http://www.economicshelp.org/blog/1357/economics/benefits-of-inflation/

Unit 1: Pros and cons of a fat tax

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/5056/economics/pros-and-cons-of-fat-tax/

Unit 1: Why has the price of petrol risen....again

It's all down to S&D reports the BBC

http://www.bbc.co.uk/news/uk-17495151

Unit 2: What determines consumer confidence?

Nice clip from the BBC explaining how the Nationwide survey does it

http://www.bbc.co.uk/news/business-17487689

Unit 1: Should there be a minimum unit price for alcohol?

The proposal is for 40p per unit. The government position is in this clip

http://www.bbc.co.uk/news/health-17487194 video
http://www.bbc.co.uk/news/uk-17485951 video
http://www.bbc.co.uk/news/uk-17482035 article

These tutor2u posts have some of the adv/disadv summarised

http://www.tutor2u.net/blog/index.php/economics/comments/the-minimum-alcohol-price-debate?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:49:41Z

http://www.tutor2u.net/blog/index.php/economics/comments/minimum-beer-prices-may-not-be-the-solution-for-binge-drinking1

Why's such a measure needed? Rising liver deaths says the BBC

http://www.bbc.co.uk/news/health-17471790

But the big retailers aren't happy

http://news.sky.com/home/uk-news/article/16194599 Sky

..and an MP arrested for assaulting 3 people in the Houses of Parliament whilst drunk thinks the minimum price is unfair on equality grounds

http://www.bbc.co.uk/news/uk-17496257

Unit 2 International inflation rates

A good source of up to date data

http://www.tradingeconomics.com/inflation-rates-list-by-country

Unit 2: What's the budget all about?

A nice clip from the BBC

http://www.bbc.co.uk/news/uk-politics-17438647

Unit 2: Budget 2012

A nice summary from the BBC

http://www.bbc.co.uk/news/uk-politics-17460451 video

and great data from the Guardian

http://www.guardian.co.uk/news/datablog/2012/mar/21/budget-2012-key-data
http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data
http://www.guardian.co.uk/news/datablog/2012/mar/21/budget-2012-spending-tax-visualised#zoomed-picture Govt income and expenditure by catagory diagram
http://www.guardian.co.uk/news/datablog/2012/mar/21/budget-2012-all-the-data

Unit 2: Tariff wars: The USA/China tit for tat tariff war continues

....according to the BBC

http://www.bbc.co.uk/news/business-17454885

Unit 2: Why does the rate of inflation change?

A nice clip from the BBC explaining the upward and downward pressures in the "basket" betwen Jan and Feb 2012

http://www.bbc.co.uk/news/business-17444899

Latest data from anforme

http://www.anforme.co.uk/blog/?p=2573

Unit 1: The price of driving in Shanghai

.....is rising, according to the BBC

http://www.bbc.co.uk/news/business-17441369

a) Using a S&D diagram, explain why the price of a licence has risen
b) Show and explain what the authorities could do to lower the price

Unit 1: How to reduce the market failure from plastic bags

A great summary article from the BBC

http://www.bbc.co.uk/news/magazine-17027990

a) In what way does the market for plastic bags fail?
b) Discuss the extent to which any single measure outlined in the article couild reduce the market failure

Unit 1: The impact of indirect taxes on beer production

Nice video from the BBC

http://www.bbc.co.uk/news/business-17399301

Unit 2: Unemployment resource from Ch4

They call it the jobs report and it's got a variety of links

http://www.channel4.com/news/channel-4-jobs-report-how-to-create-2-5-million-jobs/

Unit 2: Latest unemployment data: March 2012

Great data from the Guardian, including by region

http://www.guardian.co.uk/news/datablog/2010/nov/17/unemployment-and-employment-statistics-economics

and youth unemployment

http://www.guardian.co.uk/news/datablog/interactive/2011/nov/16/youth-unemployment-map

...and a video clip from the BBC

http://www.bbc.co.uk/news/business-17365218

...and how women have been hit hardest rom this BBC clip

http://www.bbc.co.uk/news/business-17368769

Unit 2: Enterprise zones: A supply side policy

One of the major drawbacks of supply side policies is that they take time to have an efffect on the economy. This Sky clip shows that in spades

http://news.sky.com/home/business/article/16188250

Unit 2: The UK's largest coal mine to close?

Possibly, reports Sky

http://news.sky.com/home/business/article/16188709

a) What type of unemployment would result from this closure? Explain your answer

Unit 2: 2012 updates to the basket of goods

A nice clip from Sky where an ONS spokesman explains what the basket is all about

http://news.sky.com/home/business/article/16187767

Great data from the Guardian

http://www.guardian.co.uk/news/datablog/2012/mar/13/inflation-basket-goods-2012-full-list?newsfeed=true

...and a BBC article

http://www.bbc.co.uk/news/business-17350861

Unit 1: The price of eggs

Interesting clip from the BBC

http://www.bbc.co.uk/news/business-17336478

a) Using a S&D diagram, explain why the price of eggs has risen

Unit 2: Policies to promote economic growth

Fantastic post from tutor2u that could be used for excellent evaluation

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-policies-to-drive-economic-recovery?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:19:24:51Z

Unit 2: Unemployment data by ethnicity

Great data from the BBC

http://www.guardian.co.uk/news/datablog/2012/mar/09/black-unemployed-young-men

and Ch4

http://news.sky.com/home/uk-news/article/16185997

Unit 2: Barriers to trade in China

Here's an example of a potential barrier to trade in China

http://www.bbc.co.uk/news/business-17297006

a) To what extent would this policy be likely to improve China's Balance of Payments position?

Unit 1: Externalities arising from fracking

The highly debatable method of extracting natural gas known as fracking is heading to Ireland, according to Aljazeera

http://www.youtube.com/watch?v=wDM9HI7NTdw

a) What are the private costs and private benefits of such a scheme?
b) What are the positive and negative externalities of such a scheme?
c) What role does regulation have in this industry?

Unit 1 Smoking's decline over the past 50 years

A post from tutor2u including a Ch4 video clip, and historical interviews by the BBC

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-50-years-of-anti-smoking-campaigns-and-awareness?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:21:17:24Z

a) What actions have ben introduced to reduce smoking?
b) Comment on the success of these mesures in reducing the consumptoion of this demarit good

Unit 2: How to increase the Aggregate Supply/Potential output of a country

A typical answer would be to have a supply side policy to improve the skills of the workforce.

This worrying clip from the BBC suggests the skills required by a lot of workers are fairly basic

http://www.bbc.co.uk/news/business-17229792

and

http://www.bbc.co.uk/news/education-17224600

a)How would increasing the numeracy skills of a country's workforce increase the potential output /AS of a country?

Unbit 1: Why has the price of petrol risen again to an all time high?

Because of factors effecting supply, according to this BBC clip

http://www.bbc.co.uk/news/business-17234745 video
http://www.bbc.co.uk/news/business-17231140 article

and Sky

http://news.sky.com/home/business/article/16180946

Unit 3: Competition: Market share in the coffee and supermarket markets

Good data on

coffee market http://www.channel4.com/news/wake-up-and-smell-the-rise-of-the-coffee-shop-in-britain

and supermarkets http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-supermarket-market-share

Unit 2: Eurozone unemployment rises again

From the BBC

http://www.bbc.co.uk/news/business-17219160

a) Assess how much of a problem unemployment is for the UK in the light of the data

Unit 1: Increasing demand for nail bars

....according to this clip from the BBC

http://www.bbc.co.uk/news/uk-17204558

a) Using the list of the determinants of demand, explain the increase in demand for nail bars

Unit 2: Emigration: a cost of unemployment

....has returned to Ireland with a vengance according to Aljazeera

http://www.youtube.com/watch?v=LLksP0pDPsI

Unit 1: Changing demand for biscuits

.....according to the BBC

http://www.bbc.co.uk/news/uk-17188227

a) Using demand diagrams and the list of determinants of demand, explain the changing demand for biscuits in the UK

Unit 1: Negative externalities on the Neath Road, Swansea

......according to the BBC

http://www.bbc.co.uk/news/uk-wales-17177021

a) What are the negative externalities experienced on the road and by who?
b) What actions have already been taken to reduce the negative externalities and how successful have they been?
c) Assess the likely success of the new proposals

Unit 1: Wage rates in the UK

Great data from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-highest-and-lowest-paid-jobs-in-the-uk

a) Using S&D analysis, explain the difference in these wage rates

Unit 1: Evaluating a government measure on alcohol

Great video from the BBC evaluating the likey success of the "no selling alcohol at below cost price" measure due to be introduced soon

http://www.bbc.co.uk/news/health-17137361 video
http://www.bbc.co.uk/news/uk-england-tyne-17131232 article

Unit 2: Macro videos from the ONS: Youth unemployment

Thanks for tutor2u for pointing me in the direction of the ONS video channel

This is really good on youth unemployment

http://www.youtube.com/user/onsstats#p/u/0/snSlT_3DUq4

a) How much of a problem is youth unemployment in the UK?

Unit 1: Evaluating alternative policies to reduce the negative externalities from alcohol

Two excellent posts from tutor2u, the first with 10 posible solutions to evaluate and the second with some moreinformation on actions already tried

http://www.tutor2u.net/blog/index.php/economics/comments/10-solutions-to-binge-drinking
which appears to be a summary of theis BBC article
http://www.bbc.co.uk/news/magazine-16466646 and then
http://www.tutor2u.net/blog/index.php/economics/comments/drink-drink-more-drink1

Unit 2: Japan's current account defecit

.......as got worse says

http://www.bbc.co.uk/news/business-17093255 the BBC
http://www.aljazeera.com/news/asia-pacific/2012/02/20122204728418987.html Aljazeera

a) Using the "evaluation " criteria we have gone through, comment on how much of a problem this deficit is for Japan

Unit 2: Is a high gdp per capita a good indicator of the sol in a country?

Not according to this BBC Panorama video

http://www.bbc.co.uk/programmes/b01c2y2b

Unit 1: Negative externalities from gold mining in Nigeria

From the BBC

http://www.bbc.co.uk/news/world-africa-16938914

a) State the negative externality and explain why it is a negative externality
b) What actions could the government take to reduce the negative externalities
c) How successful are such policies likely to be?

Unit 2: Is quantitative easing working?

An interesting argument from Ch4

http://www.youtube.com/watch?v=Z3IIcdCV2Xo&feature=player_embedded#!

Unit 1: Public goods videos

Thanks to tutor2u for these links to video clips illustrating public goods

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-public-goods-news-clips

Unit 2: How does quantitative easing work?

Fantastic video fro the BBC

http://www.bbc.co.uk/news/business-16974497

Unit 1: Will the EU tradable permit scheme work?

Not if Countries refuse to participate as in the case of China, according to the BBC

http://www.bbc.co.uk/news/business-16901106

and a wider summary of the issue from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/china-bans-its-airlines-from-paying-eu-carbon-tax

a) What actions could the EU take to ensure that all airlines participate in the scheme, and how likely are they to take such actions?

Unit 1: Should we tax carbon?

Great collection of videos from tutor2u on the topic

http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-video-resources-on-carbon-taxation

a) Using a diagram, explain how a tax on carbon would reduce the market failure
b) Using information from the video and what we've covered in the lesson, comment on how likely such a tax is likely to be in reducing the market failure

Unit 1: Is there information failure in the alcohol market?

The government evidently believes so as it launches this new public information campaign

http://www.bbc.co.uk/news/uk-16893933 video
http://www.bbc.co.uk/news/health-16869618 article

Unit 2: Investment: RR opens a new manufacturing plant in Singapore

Nice clip from the BBC showing what investment actually is

http://www.bbc.co.uk/news/business-16865720

a) What effect would this investment have on UK GDP?

Unit 2: Comparing China and the USA: Data

Thanks to tutor2u for pointing me to this

http://www.mint.com/blog/trends/u-s-a-vs-china-122011/?display=wide

a) Giving resons, explain which country you would rather live in for the next 20 years

Unit 1: Actions to reduce market failure in the cigarette Market: Vending machine ban

It's coming in to force in Wales reports the BBC

http://www.bbc.co.uk/news/uk-wales-politics-16813794

a) To what extent do you believe this piece of legislation will reduce the market failure in the cigarette market?

Unit 2: Comparative inflation data Jan 2012

....fron anforme

http://www.anforme.co.uk/blog/?p=2496

Unit 1: Why regulate a free market?

This BBC clip suggests why the vodka market needs regulating

http://www.bbc.co.uk/news/uk-england-16760295

Unit 2: The problems of youth unemployment

...as seen in the UK and Australia (thanks to tutor2u for the links to Al Jazeera)

http://www.youtube.com/watch?v=Roaeu6MO43w&feature=player_embedded UK
http://www.youtube.com/watch?v=xrE-MTzPJOA&feature=player_embedded Australia

and a report from the BBC at Davos on the issue

http://www.bbc.co.uk/news/business-16774301

Unit 2: Spain's unemployment up to 22,8%

....and it's much worse if you're below 25 reports the BBC

http://www.bbc.co.uk/news/world-16754600

Unit 2: GDP falls in the last quarter of 2001

Key info from Sky, including a video explaining what GDP is half way down the page in case you've forgotten!

http://news.sky.com/home/business/article/16156088 Sky video
http://www.bbc.co.uk/news/business-16715080 BBC article
http://www.channel4.com/news/recession-fears-as-economy-shrinks Ch4 article
http://www.channel4.com/news/why-is-britains-economy-shrinking Ch4 article

a) What is the cause of the fall in UK GDP?
b) What implications will this fall have for the UK economy?

Unit 2 Japan records its first trade deficit in 30 years

...reports

http://news.sky.com/home/business/article/16156286 Sky
http://www.bbc.co.uk/news/business-16712816 BBC

a) Comment on whether this deficit represents a problem for the Japanese economy

Unit 1: how good is legislation at reducing negative externalities?

You decide

http://www.bbc.co.uk/news/uk-england-birmingham-16682596

a) What is the negative externality in the clip?
b) Why is it a negative externality?c0 Use a diagram to explain how the market fails with this externality
d) Using information from the clip, discuss the extent to which legislation is effective in reducing the negative externality

Unit : Supply side policies: The importance of apprenticeships

...according to Nick Clegg on a visit to Cambridge (Thanks to CEN for the video)

http://www.cambridge-news.co.uk/Home/Deputy-Prime-Minister-gets-a-taste-for-bricklaying-19012012.htm

Unit 2: What is expansionary monetary polkicy, and will it boost growth?

A great, evaluative summary from economicshelp

http://www.economicshelp.org/blog/4886/monetary-policy/expansionary-monetary-policy/

Unit 1: Should solar energy be subsidised?

Lots to think about in this presentation from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-the-economics-of-solar-subsidies

a) Given the information, discuss whether subsidising solar energy is a good use og government finance

Unit 1: Information failure with processed meats?

Thanks to tutor2u for these links

http://www.bbc.co.uk/news/health-16526695 BBC article
http://www.youtube.com/watch?v=jDKHlh_egRE&feature=player_embedded Al Jazeera video

a) To what extent do you believe there is information failure in the processed meat market?
b) What actions could the government take to reduce this market failure?
c) To what extent do you believe such measures would lead to a reduction in the market failure?

Unit 2: What does the inflation figure mean?

Well, it hides a large variety of different price movements as shown by this BBC article

http://www.bbc.co.uk/news/business-16535721

Unit 2: Interest rate data

All the graphs you could want from economicshelp

http://feeds.feedburner.com/EconomicsBlog?format=xml

Unit 2: Unemployment to a 17 year high

....reports

http://news.sky.com/home/uk-news/article/16151331 Sky video
http://blogs.channel4.com/faisal-islam-on-economics/britain-will-have-to-buck-history-to-stop-unemployment-spiking-above-10-per-cent/15950 Ch4 video
http://www.bbc.co.uk/news/business-16608394 BBC article and graph

But remember the national picture will be an average; things look better in Cambridge

http://www.cambridge-news.co.uk/Cambridge/Unemployment-falls-in-Cambridge-bucking-national-trend-19012012.htm CEN

Unit 2: Inequality data for US and UK

....from the BBC

http://www.bbc.co.uk/news/business-16545898

Unit 1/2: Productivity/Specialisation videos

Some great videos from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-videos-on-productivity?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:46:56Z

Unit 2: What influences the level of consumption?

Watch this BBC vox pop

http://www.bbc.co.uk/news/business-16525438

a) So what influences Consumtion spending?

Unit 2: Crossrail; an example og Government spending

Fantastic clip from the BBC

http://www.bbc.co.uk/news/uk-16289051

Unit 1: Exercise on information failure/smoking

Thanks to Richard Young for this

http://bizeconict.co.uk/?p=356 questions and data
http://www.medicalnewstoday.com/articles/239800.php report

Unit 1: Negative externalities of closing a landfill site

Great clip from the BBC

http://www.bbc.co.uk/news/world-latin-america-16496212

a) Explain the negative externalities likely to result from this closure
b) Discuss alternative strategies open to the Mexican gGovernment to reduce the market failure

Unit 2: GDP v GDP per capita

As brazil overtakes the UK to rank as the 6th largest economy in the world, it's not the same story when you look at GDP per capita

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-brazil-overtakes-uk-in-economic-size?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:09:36:59Z

a) Explain why not

Unit 2: HS2: An example of government expenditure with a multiplier effect?

The biggest single construction project for years according to the BBC

http://www.bbc.co.uk/news/uk-16482412 video

....with a multiplier effect, says this article

http://www.bbc.co.uk/news/business-16467903

a) What is the size of the multiplier efect suggested by the article?
b) Explain how this multilier effect will come about

Unit 2: What determines the level of Investment?

This tutor2u article more than likely goes too far for OCR AS, but I like it!

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-factors-driving-business-investment

Unit 2: The role of consumer confidence on Consumption

Thanks to tutor2u for this clear explanation

http://www.tutor2u.net/blog/index.php/economics/comments/hopes-and-fears-2012?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:32:19Z

Unit 1: Natural disasters and their effect on economies

Thanks to tuto2u for pointing out this resource

http://www.youtube.com/watch?v=Skz0Rgchm6g&feature=player_embedded#!

a) Using a PPC diagram and words, explain the effect on the Japanese economy of the earthquake/tsunami/nuclear plant shutdown

Unit 2: Who do we trade with?

Great data from the Guardian

http://www.guardian.co.uk/news/datablog/2010/feb/24/uk-trade-exports-imports

Unit 2: What's the limitation of GDP per capita?

Planet money explains all

http://www.npr.org/blogs/money/2012/01/10/144914762/why-gdp-per-capita-can-start-a-bar-fight?ft=1&f=93559255

Unit 1: High speed rail and externalities

HS2 has been given the go-ahead, but not everyone is happy

http://news.sky.com/home/politics/article/16145716 Sky

a) What are the positive and negative externalities associated with the project?

Unit 1: Negative externalities from metal theft

Thanks to tutor2u for this

http://www.youtube.com/watch?feature=player_embedded&v=MDfoX6E4IeU#!

a) What are the negative externalities from metal theft, and why are they negative externalities?

Unit 1: Externalities revision

A brilliant tutor2u resource, full of theory and video examples. It goes a bit further than the OCR syllabus needs and I have labelled the diagrams differently, b ut if you want a real, in depth analysis, this is great

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-prezi-on-the-economics-of-negative-externalities?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:01:42:13Z