Monday, December 31, 2012

Unit 2: Macroeconomic data for 2012

Thanks to economicshelp for this data

Saturday, December 29, 2012

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

A new public information campaign is launched video 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

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 on the rise according to Al Jazeera

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

Wednesday, December 19, 2012

Unit 2: Inflation at 2.7%

...according to the BBC

Unit 2: Nissan announces £250m investment its UK operations, according to Ch4

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

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

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

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

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

Unit 1: Australia restricts cigarette packaging and Wales hide displays

...according to these articles found by tutor2u Aljazeera video BBC video article

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

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