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)