Monday, December 31, 2012

Unit 2: Macroeconomic data for 2012

Thanks to economicshelp for this data

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

Saturday, December 29, 2012

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

Wednesday, December 26, 2012

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

Tuesday, December 25, 2012

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#

Wednesday, December 19, 2012

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

Saturday, December 15, 2012

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

Wednesday, December 12, 2012

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?

Saturday, December 08, 2012

Tuesday, December 04, 2012

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

Wednesday, November 28, 2012

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

Tuesday, November 27, 2012

Friday, November 16, 2012

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?

Thursday, November 15, 2012

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?

Tuesday, November 13, 2012

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

Sunday, November 04, 2012

Friday, November 02, 2012

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!)

Thursday, November 01, 2012

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)

Tuesday, October 30, 2012

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

Saturday, October 27, 2012

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/

Friday, October 26, 2012

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

Friday, October 19, 2012

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

Sunday, October 14, 2012

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/

Wednesday, October 10, 2012

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

Monday, October 08, 2012

Friday, October 05, 2012

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/

Tuesday, October 02, 2012

Sunday, September 30, 2012

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?

Friday, September 28, 2012

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

Wednesday, September 19, 2012

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

Tuesday, September 18, 2012

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

Friday, September 07, 2012

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

Monday, September 03, 2012

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

Thursday, August 30, 2012

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

Wednesday, August 29, 2012

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

Wednesday, August 22, 2012

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

Monday, August 20, 2012

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#

Tuesday, August 14, 2012

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?

Thursday, July 26, 2012

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


Tuesday, July 24, 2012

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

Sunday, July 22, 2012

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

Saturday, July 21, 2012

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

Friday, July 20, 2012

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?

Thursday, July 19, 2012

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

Tuesday, July 17, 2012

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/

Sunday, July 15, 2012

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

Thursday, July 12, 2012

Saturday, July 07, 2012

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

Wednesday, July 04, 2012

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

Sunday, July 01, 2012

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

Sunday, June 10, 2012

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?

Wednesday, June 06, 2012

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

Tuesday, June 05, 2012

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

Sunday, June 03, 2012

Wednesday, May 30, 2012

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

Sunday, May 27, 2012

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

Saturday, May 19, 2012

Tuesday, May 01, 2012

Unit 1: The fall in demand for Nintendo products

....acording to the BBC


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

Sunday, April 22, 2012

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

Wednesday, April 18, 2012

Tuesday, April 17, 2012

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?

Sunday, April 08, 2012

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

Sunday, April 01, 2012

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

Thursday, March 29, 2012

Tuesday, March 27, 2012

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

Friday, March 23, 2012

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

Wednesday, March 21, 2012

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

Monday, March 19, 2012

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

Wednesday, March 14, 2012

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

Monday, March 12, 2012

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

Thursday, March 08, 2012

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?

Wednesday, March 07, 2012

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

Thursday, March 01, 2012

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

Wednesday, February 29, 2012

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

Tuesday, February 28, 2012

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

Monday, February 27, 2012

Sunday, February 26, 2012

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

Thursday, February 23, 2012

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?

Tuesday, February 21, 2012

Monday, February 20, 2012

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

Sunday, February 12, 2012

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

Monday, February 06, 2012

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?

Sunday, February 05, 2012

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

Saturday, February 04, 2012

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?

Friday, February 03, 2012

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

Wednesday, February 01, 2012

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?

Monday, January 30, 2012

Sunday, January 29, 2012

Saturday, January 28, 2012

Wednesday, January 25, 2012

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

Monday, January 23, 2012

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

Thursday, January 19, 2012

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

Wednesday, January 11, 2012

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

Tuesday, January 10, 2012

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?

Friday, January 06, 2012

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?

Wednesday, January 04, 2012

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