Saturday, July 28, 2012

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#

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