Unit 1: The used car market; a case of information failure?

It would appear so from the point of view of the consumer, according to this BBC clip which clearly shows asymmetric information in the market

http://www.bbc.co.uk/news/business-24784713#

Unit 1: New York raises smoking age to 21

....reports Aljazeera

http://link.brightcove.com/services/player/bcpid1659202292001?bckey=AQ~~,AAAAmtVJIFk~,TVGOQ5ZTwJbsT0Mq3k9H8GCa4jV3vL4M&bclid=0&bctid=2788180096001

Unit 2:European unemployment and inflation data

...available via the hyperlinks in this BBC summary

http://www.bbc.co.uk/news/business-24758601#

Unit 1: Should we tax sugary drinks to reduce obesity?

Possibly, or possibly not, says this Sky news clip

http://news.sky.com/story/1162375/sugary-drinks-tax-could-raise-treasury-275m

Unit 1: Wine prices to rise?

Apparently so, according to this BBC clip full of demand and supply analysis

http://www.bbc.co.uk/news/world-24753585#

So why don't we just produce more wine? Think elasticity of supply!

Unit 1: Is a voluntary agreement enough, or should there be legislation to limit fat in food?

An interesting article from Ch4

http://www.channel4.com/news/saturated-fats-food-supermarkets-health-nestle-tesco-kit-kat

Unit 1: The tablet market

Thanks to economicshelp for this summary of changes in the tablet market

http://www.economicshelp.org/blog/9249/business/growth-global-tablet-market/

Unit 2: Macro data on inflation, unemployment and the economic cycle

Thanks to tutor2u fro data charts on

Inflation http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-ten-charts-on-uk-inflation?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:21:34:44Z

Unemployment http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-ten-charts-on-unemployment

Economic cycle http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-ten-charts-on-the-uk-economic-cycle

Unit 1: Are chocolate prices about to rise?

Yes, if this BBC clip is correct

http://www.bbc.co.uk/news/business-24607261#

Unit 2: AD and AS tutor2u resources

Thanks, as ever, to tutor2u for this update on the AD pwerpoint

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-aggregate-demand

and this AS summary

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-short-run-aggregate-supply

Unit 1: Externalities associated with air pollution

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-air-pollution-leading-cause-of-cancer?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:57:35Z

Unit 2: Re-balancing the Chinese economy

Interesting clip from the BBC

http://www.bbc.co.uk/news/business-24270734#

Unit 1: Ireland's austerity leads to the young emigrating

....according to the BBC

http://www.bbc.co.uk/news/business-24533411#

Unit 1: Productive efficiency in transport: Container ships

I love stories about the biggest, fastest, etc so this economics packed clip, I love!!!

http://www.bbc.co.uk/news/business-24439603#

Unit 1: Young drivers: Providers of negative externalities?

Possibly, if this report is true and these new government restrictions are turned into actions

http://www.bbc.co.uk/news/uk-24491695#

Unit 1: Information failure in the weight loss market

A sad case, reports the BBC

http://www.bbc.co.uk/news/health-24456217#

Unit 1: Tesco's Huddle v Argos My tablet; a tale of substitutes.....

....and possibly inferior goods?

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-argos-tablet-and-inferior-goods

Unit 2: The effects of inflation on different groups

Nice post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/inflation-different-impacts-on-different-people?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:12:41:55Z

Unit 2: Falling unemployment, but it's not a uniform picture across the country

Nice chart from Sky news to highlight regional differences

http://news.sky.com/story/1155213/employment-jobless-benefit-claims-tumble

and this from the BBC re age of the unemployed

http://www.bbc.co.uk/news/uk-24550497#

Unit 1: More restrictions proposed on cigarette sales in Europe

....according to the BBC

http://www.bbc.co.uk/news/uk-politics-24493979#

Unit 1: Increased demand for bulletproof cars in Pakistan

A classic case of increased demand due to changing taste and fashion in Pakistan

http://www.bbc.co.uk/news/world-asia-24488387#

Unit 1: Post office shares: A disequilibrium price?

The launch price appears to be well below the equilibrium price if initial trading is any indication

Saucony ProGrid Ride 4 Running Shoes 280944

Unit 1: Rising demand for new cars

.....reports Sky

http://news.sky.com/story/1150123/new-car-sales-accelerate-in-September

and a summary from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/signs-of-recovery-in-the-uks-new-car-sales?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:44:16Z

Unit 1: The falling price of lobster in the USA

....according to the BBC

http://www.bbc.co.uk/news/world-us-canada-24409146

Unit 2: Compulsory work/activities for the unemployed: A supply side policy?

The BBC reports the latest Conservative party thinking

http://www.bbc.co.uk/news/uk-24333069#

Unit 1: It's easy to pass legislation like the minimum wage.....

........ but how easy are they to enforce? Without enforcement, the market failure continues, reports the BBC

http://www.bbc.co.uk/news/uk-england-24231924#

Unit 1: How to reduce the negative externalities from alcolol

Herr's a voluntary scheme in Ipswich

Should the government pass similar legislation?

http://www.bbc.co.uk/news/uk-england-suffolk-24280098#

Unit 1: Falling petrol prices

....reports Sky, but should they be coming down by more?

http://news.sky.com/story/1146793/petrol-prices-phoney-war-is-over-says-aa

Unit 1: Falling demand for holidays in Egypt

......reports Sky news

http://news.sky.com/story/1146682/egypt-turmoil-holiday-demand-slumps

Unit 1: Pros and cons of freezing gas prices

Nice clip from the BBC

http://www.bbc.co.uk/news/business-24276762#

Unit 2: GDP and economic growth powerpoint

....thanks to tutor2U

http://www.tutor2u.net/blog/index.php/economics/comments/revision-presentation-gdp-as-a-measure-of-economic-growth-and-standard-of-l?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:43:40Z

Unit 2: India raises the tariff on imported gold

....reports the BBC

http://www.bbc.co.uk/news/business-24140325#

Unit 1: China subsidises electric cars

....reports the BBC

http://www.bbc.co.uk/news/business-24140329#

Unit 1: Rising used car prices

....reports the BBC

http://www.bbc.co.uk/news/business-24140995#

Unit 1: The external cost of alcohol: The man who has visited A&E 263 times!

Informative clip from the BBC

http://www.bbc.co.uk/news/health-24105248#

Unit 1: Changes at Currys

Is this revamp an example of allocative efficiency in the economy?

http://www.bbc.co.uk/news/business-24090230#

Unit 1: Giant turbines; productive efficiency in action

Great example from the BBC

http://www.bbc.co.uk/news/uk-england-essex-24078588#

Unit 2: Greek unemployment

A nice summary of the depressing position in Greece from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-greek-unemployment-reaches-28

Unit 2: The circular flow of income

Nice powerpoint from tutor2u that builds the model step by step

http://www.tutor2u.net/blog/index.php/economics/comments/revision-presentation-building-the-circular-flow-of-income-spending?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:18:26:22Z

Unit 1: Privatisations in the UK

A nice time line from the Guardian

http://www.theguardian.com/news/datablog/interactive/2013/sep/12/biggest-sell-offs-in-uk-privatisation-timeline

Unit 1: Charging for plastic bags

If you believe that free plastic bags lead to negative externalities, then this initiative by the UK government to allow England to follow Wales makes sense

http://news.sky.com/story/1141528/plastic-bags-shoppers-to-be-charged-5p Sky
http://www.bbc.co.uk/news/uk-24090133# BBC

a) What other approach could the government take to reduce the negative externality problem?

Unit 1: The economic problem: Heart surgery in Wales

This BBC clip shows scarce resources and unlimited wants

http://www.bbc.co.uk/news/uk-wales-23996475#

Unit 1: Negative externalities from refining tar sands

Nice clip from Aljazeera

http://bcove.me/ify8jocs

Unit 1: Negative externalities from the "Walkie Talkie" in London

Damage to cars? Hot spots on the pavement? Burns to people? Strange but true

http://www.bbc.co.uk/news/magazine-23944679 BBC
http://www.bbc.co.uk/news/uk-england-london-23941325 BBC
http://news.sky.com/story/1136349/walkie-talkie-skyscraper-beam-melts-cars Sky

Unit 1: India to subsidise grain

....reports the BBC

http://www.bbc.co.uk/news/world-asia-india-23845386#

Unit 1: Positive externalities from waste incineration?

Possibly, according to the BBC

http://www.bbc.co.uk/news/uk-wales-23908360#

Unit 1: The rocketing price of onions in India

Due to  problems with the supply, according to the BBC

http://www.bbc.co.uk/news/business-23806040#

Unit 2: Why the rupee is depreciating

Nice explanation from the BBC

http://www.bbc.co.uk/news/business-23760973#
http://www.bbc.co.uk/news/business-23763474#
http://www.bbc.co.uk/news/business-23751210#

Unit 2: The effect of a changing exchange rate on Japan's BoP

Nice article from the BBC

http://www.bbc.co.uk/news/business-23751029#

Unit 2: The falling value of the Rupee

Interesting BBC story

http://www.bbc.co.uk/news/business-23722553#

Unit 1: Higher penalty fines; a solution to market failure on our roads?

You decide having watched this BBC video

http://www.bbc.co.uk/news/uk-23722219#

Unit 2: UK claimant count reduced: August 2013

Mixed news on the jobs front with rising youth and long term unemployment rising (as is U in some regions), but the CC has fallen again

http://www.bbc.co.uk/news/business-23699341# BBC video UK
http://www.bbc.co.uk/news/business-23694451# ONS explanation
http://www.bbc.co.uk/news/business-23694457 video (NI emphasis)

Unit 2: Inflation component and weights changes since 1990

Fantastic interactive graphic from The Guardian

http://www.theguardian.com/news/datablog/interactive/2012/may/22/inflation-cpi-rpi-interactive

Unit 1: Vertical farming: A way to make a country's fop more productive

Singapore is trying this out reports the BBC

http://www.bbc.co.uk/news/business-23675278#

Unit 2: Government spending on capital infrastructure: Cycle networks

Nice example (said the cyclist) from the BBC, possibly leading to positive externalities for the ecponomy

http://www.bbc.co.uk/news/uk-23663257#

Unit 1: Payday loans: A demerit good?

It appears some people think so as councils move to limit advertising of these loans and access to payday loan sites from council computers

http://www.bbc.co.uk/news/uk-23663590#

Unit 2: GDP explained

Thanks to the BBC for this

http://www.bbc.co.uk/news/business-22277954

Unit 2: Inflation explained

Thanks to the BBC for this summary

http://www.bbc.co.uk/news/business-12196322

Unit 1: How the weather effects the supply of various crops

Nice clip from the BBC

http://www.bbc.co.uk/news/uk-23633811#

Unit 1: Externalities and China

Thanks to tutor2u for this update summary

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-externalities-air-pollution-and-life-expectancy-in-china?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:06:12:59Z

Unit 2: Worsening Greek unemployment figures

Is there no end to the woes the Greek people are suffering?

http://www.bbc.co.uk/news/business-23620444#

Unit 2: YTA training: A supply side policy

Thanks to the BBC

http://www.bbc.co.uk/news/uk-23611570#

a) Why is this an example of a supply side policy?
b) To what extent do you think such training schemes are likely to help the government meet its macroeconomic objectives for the economy?

Unit 1: The effect of GM crops on an agricultural PPC

An interesting article from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/gm-foods-will-be-vital-in-feeding-the-future-world

a) Assuming the argument and figures to be correct (and there are strong opposition arguments), draw a PPC diagram to show the effect on output of introducing these GM crops. Label one axis "GM crops" and the other axis "traditional crops"
b) Explain why you have drawn the change as you have

Unit 2: Australia cuts interest rates

Nice post from the BBC explaining the thinking behind the cut in Australia's interest rates

http://www.bbc.co.uk/news/business-23584374#

Unit 2: Monetary policy and forward guidance

Great clips from the BBC explaining how this forward guidance on interest rates should boost the economy

http://www.bbc.co.uk/news/business-23598143#
http://www.bbc.co.uk/news/business-23608721#

The question is, will it? Why might it not?

....and more from Sky

http://news.sky.com/story/1125586/borrowers-boost-interest-rates-tied-to-jobs

.......and this great summary from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/uk-economy-carney-provides-forward-guidance-on-interest-rates

...and these explanations from the BBC

http://www.bbc.co.uk/news/business-23145755
http://www.bbc.co.uk/news/business-23599464#
http://www.bbc.co.uk/news/business-23588958

Unit 2: Rising consumer confidence in the UK

....reports the BBC

http://www.bbc.co.uk/news/business-23565711#

Unit 1: Sun beds; an example of a market with information failure?

Nice clip from the BBC

http://www.bbc.co.uk/news/uk-23513739#

a) Is more regulation required?
b) What other approaches to reducing the market failure could be used?

Unit 2: Latest UK macro data

Thanks to tutor2u for this slideshow jam packed with up to date data

http://www.tutor2u.net/blog/index.php/economics/comments/developments-in-the-uk-economy3

Unit 1: How much of the cigarette price is tax?

Some great data from the Guardian showing the $ cost per pack across various countries and the % of that price that is tax

http://www.theguardian.com/society/datablog/2013/aug/01/australia-cigarettes-expensive-tax

This analysis shows prices relative to incomes as it shows how many minutes the average worker has to  work to buy a packet of cigarettes

http://www.businessinsider.com.au/price-pack-of-cigarettes-around-the-world-2012-10

Unit 1: Negative externalities from a new Alaskan copper mine

Great clip from the BBC raising many, many issues

http://www.bbc.co.uk/news/world-us-canada-23496724#

.....and more on the salmon industry in Bristol Bay

http://www.bbc.co.uk/news/science-environment-23496608#

Unit 1: The price of coffee

Thanks to tutor2u for this post on supply side reasons why the price of coffee beans is falling, including an FT video

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-coffee-prices-and-profits-fall-for-growers?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:09:06:36Z

So, why isn't the price of a cup of coffee on the high street falling?

Unit 2: UK GDP data and analysis

From the Guardian

http://www.theguardian.com/news/datablog/2009/nov/25/gdp-uk-1948-growth-economy

Unit 1: The falling cost of car insurance

....is due to less legal claims for whiplash, apparently

http://www.bbc.co.uk/news/uk-23475415#

a) Using a S&D diagram, explain why the price of car insurance has decreased

Unit 1: The opportunity cost of the Meningitis B vaccine

The rejection of the meningitis B vaccine  for the UK highlights many basic issues in economics, scarce resources, unlimited wants, choices, opportunity cost, the validity of data.........

http://www.bbc.co.uk/news/uk-23437251# video
http://www.bbc.co.uk/news/health-23422973# article

Unit 1: How much does the weather effects the supply of English wine?

A lot, according to this Ch4 video

http://www.channel4.com/news/english-wine-producers-celebrate-the-summer-weather-video

Unit 2: UK growth in GDP

Is this the start of a recovery?

Interesting video from Ch4 with a great graph at around 4.25 showing how different sectors of the economy have done since the downturn in 2008

http://www.channel4.com/news/uk-economy-gdp-george-osborne-sustained-growth

and the BBC

http://www.bbc.co.uk/news/business-23446043#

UNit 2: The effect of a depreciating currency on exports

Very positive appears to be the case in Japan, reports the BBC

http://www.bbc.co.uk/news/business-23429558

Unit 1: Actions to reduce the negative externalities from excessive alcohol consumption

For women born in the 70's the private costs appear to be high

http://www.bbc.co.uk/news/health-23371340#

a) Evaluate the alternative measures government could take to reduce the death rate in this age group

Un it 1: What will the level of demand be for a hydrogen fuelled car?

Hyundai intend to launch one in 2015 according to the BBC

http://www.bbc.co.uk/news/business-23351291#

a) Using demand theory, explain what will determine the level of demand for these hydrogen fuelled cars

Unit 2: A mixed picture re UK unemployment

Overall, the UK number is down

http://www.bbc.co.uk/news/business-23346187#

...but in Scotland it's rising

http://www.bbc.co.uk/news/uk-scotland-23348119#

...and long term unemployment is at its highest rate since 1996

http://www.bbc.co.uk/news/business-23340761#

Unit 1: Rubbish on the beach: Negative externalities

Depressing behaviour leading to negative externalities

http://www.bbc.co.uk/news/uk-23325495#

a) What could the government do to reduce the negative externalities?

Unit 2: The benefits cap: A supply side policy

Details from the BBC

http://www.bbc.co.uk/news/business-23311578# video
http://www.bbc.co.uk/news/business-23306092 article

...but how successful will it be? Some really good evaluation in the report

Unit 2: Smog eating pavements

....which appear to have positive externalities associated with them

http://www.bbc.co.uk/news/science-environment-23324177#

Unit 2: China's growth slowing....

.....according to the latest data

http://news.sky.com/story/1115876/china-growth-slows-in-the-second-quarter

a) But why? Explain using the AD formula

Unit 2: THe benefit cap: A supply side policy?

Evaluate how successful this policy is likely to be in meeting the governments objectives

http://news.sky.com/story/1115764/welfare-cap-of-500-a-week-comes-into-force

Unit 1: Demerit goods: The government drops plans for a minimum unit alcolol pricing scheme

Thanks to the BBC for this summary

http://www.bbc.co.uk/news/health-23283821
http://www.bbc.co.uk/news/uk-23289009

Unit 2: If you thought Greece's unemployment couldn't get any worse...

....you'd be wrong: The latest data shows U at 27.4% and this video shows one of the consequences; the exodus of the young and skilled

http://www.bbc.co.uk/news/world-europe-23266763#

Unit 2: Economic growth in the EU: Data

Thanks to economics help for this

http://www.economicshelp.org/blog/7684/economics/eu-economic-growth-stats/

Unit 1: Demerit goods: The government steps back from further regulation of the tobacco industry

Thanks to Sky news

http://news.sky.com/story/1114718/plans-for-plain-cigarette-packs-shelved

and the BBC

http://www.bbc.co.uk/news/uk-23289009
http://www.bbc.co.uk/news/health-23281804

Unit 1: Falling demand for PC's

....due to better substitutes becoming available. A nice summary from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-fall-in-sales-of-pcs-due-to-rise-in-demand-of-substitute-goods

Unit 1: Negative externalities in China

Thanks to tutor2u for this post covering air pollution and pork production

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-externalities-air-pollution-and-life-expectancy-in-china?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:06:13:37Z

and this from the BBC on air pollution

http://www.bbc.co.uk/news/world-asia-china-23247803#

Unit 1: The supply of coffee in China

Thanks to tutor2u for finding this FT video

http://www.youtube.com/watch?v=nUiLK7ubjKI#at=52

Unit 1: Extracting iron ore

Great short clip from the BBC showing the fop in action

http://www.bbc.co.uk/news/business-23143585#

Unit 1: Legislation in Wales to supply more organs

As ever, Wales leads the world to increase the supply of donor organs......an example of merit goods?

http://www.bbc.co.uk/news/health-23141305#

Unit 2: Hyperinflation explained

Thanks to tutor2u for finding this

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-hyperinflation-explained?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:09:15:04Z

Unit 2: Where the cuts in government spending will fall

Thanks to the Guardian for these graphics

http://www.guardian.co.uk/news/datablog/interactive/2013/jun/26/spending-review-round-2013-interactive

http://www.guardian.co.uk/news/datablog/2013/jun/26/spending-review-key-charts

and this BBC article

http://www.bbc.co.uk/news/uk-politics-23053693

or this BBC video round-up

http://www.bbc.co.uk/news/uk-politics-23065671#

Unit 2: Changes in Government spending over time

Some good graphs in this BBC article

http://www.bbc.co.uk/news/business-22998329

.....and this one shows where the cuts have fallen so far

http://www.bbc.co.uk/news/business-23029683#

Unit 1: The rising demand for guns in the USA

How depressing!

http://www.bbc.co.uk/news/business-23043539#

Unit 1: Externalities from wind turbines

This Sky report indicates negative externalities arising from wind turbines

http://news.sky.com/story/1107120/wind-farm-plan-in-bristol-channel-catastrophic

...but it fails to mention the positive externalities: Any idea what they are?

Unit 2: Supply side policy in Nigeria

From Aljazeera

http://bcove.me/ul7s3n33