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