Bryn's AS Economics Blog

Friday, January 16, 2015

Thanks to tutor2u for pointing me to this ONS post

http://www.ons.gov.uk/ons/rel/elmr/variation-in-the-inflation-experience-of-uk-households/2003-2014/sty-variation-in-the-inflation-experience-of-uk-households.html

Why some inflation is seen as a good thing

Great article from the BBC

http://www.bbc.co.uk/news/business-30778491?utm_source=dlvr.it&utm_medium=twitter

The price mechanism and allocative efficiency

Nice post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/using-the-price-mechanism-to-boost-allocative-efficiency-car-parking-charge?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:56:00Z

The history of the CPI basket

2 articles from the BBC (click the tab to get the second story) explaining some of the ins and outs of the CPI basket

http://www.bbc.co.uk/news/magazine-30828142

The problems of enforcing the minimum wage

Some well known firms appear to be breaking the law according to this Sky story

http://news.sky.com/story/1408190/minimum-wage-firms-named-and-shamed

CPI Inflation falls to a record low

This Ch4 video explains why

http://www.channel4.com/news/inflation-drops-to-record-low-as-oil-prices-tumble

as does this Sky post

http://news.sky.com/story/1406965/inflation-at-joint-lowest-level-on-record

and the BBC
http://www.bbc.co.uk/news/business-30795666#

and this one questions whether it's all good news

http://news.sky.com/story/1407096/why-record-inflation-fall-is-not-all-good-news

as do these posts from Robert Peston

http://www.bbc.co.uk/news/business-30795424
http://www.bbc.co.uk/news/business-30778484

Saturday, January 10, 2015

Deflation in the Euro zone

Yes and no, it appears from this BBC clip; it depends how you measure it

http://www.bbc.co.uk/news/world-europe-30708069#

Conainer ships; even more economies of scale

Over the years I've posted links to stories about ever larger container ships. Here's the new King of the container ships able to carry 19,100 containers with 20 crew

http://www.bbc.co.uk/news/uk-30720824#

Mindboggling!

Why has the $ appreciated?

Well, obviously, it's to do with supply and demand but this economicshelp post adds some reasons

http://www.economicshelp.org/blog/12596/us/reasons-for-rise-in-value-of-the-dollar/

How has the UK recovered from the recession?

An interesting graph in this post from economicshelp comparing the recovery in GDP per capita in the UK to France and the USA

http://www.economicshelp.org/blog/12576/economics/the-uk-recovery-compared/

How wages are determined: The £1000 a week bricklayers

Nice blog post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/the-labour-market-and-foreign-bricklayers-on-1000-a-week?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:13:17:00Z

Sunday, January 04, 2015

Germany introduces a minimum wage

As reported by Aljazeera
http://bcove.me/rmiu6dwz

Polluted beaches and negative externalities

Clear example from Aljazeera

http://bcove.me/icnjz90u

Why are petrol prices falling?

All is made clear from this excellent BBC clip

http://www.bbc.co.uk/news/business-30645183#

and this one http://www.bbc.co.uk/news/business-30691883

Thursday, January 01, 2015

Cigarettes; a demerit good

Great example of information failure in this BBC report

http://www.bbc.co.uk/news/health-30622523#

New Scottish regulation: No smoking in cars carrying children

The BBC explains why

http://www.bbc.co.uk/news/uk-scotland-30502175# and http://www.bbc.co.uk/news/uk-politics-30526176#

Cleaning up Delhi's air

The problem and government response is reported by the BBC

http://www.bbc.co.uk/news/world-asia-30647598
and this from Aljazeera
http://bcove.me/t9k7i9ub

Increasing demand for premium gin

......reports the BBC

http://www.bbc.co.uk/news/uk-30640804

Saturday, December 27, 2014

Using monetary policy to influence exchange rates: Russia

Great example from Russia, but will it work in the long run if other factors are leading to a decrease in the demand for roubles?

http://news.sky.com/story/1392617/russia-ramps-up-rate-to-17-percent-to-boost-rouble

This could be the doomsday scenario for Russia
http://news.sky.com/story/1392871/rouble-woes-six-stages-of-a-currency-crisis

Saturday, December 13, 2014

Legislation: scotland lowers the drink drive limit

.....and, if you believe this BBC clip, it will be strongly enforced. Will it reduce the market failure?

http://www.bbc.co.uk/news/uk-30341649

The rising demand for air crew in China

Interesting clip from Aljazeera

http://bcove.me/zt9yzita

How good is legislation at reducing market failure?

Not much use at all unless it is enforced which is not the case in the logging industry in Peru

http://bcove.me/zk2mrs8g

Sunday, November 30, 2014

The electric bus; a solution to market failure?

Could be if this experiment in Brazil works out
http://bcove.me/0q2d50ad

Mining in Burkino Faso; a case of market failure

This depressing clip shows a clear example of market failure and the need for government intervention

http://bcove.me/a7g555pz

Free child flu vaccine; a policy to overcome market failure associated with a merit good

Is flu vaccine a merit good? Quite possibly given the roll-out of this government policy

http://www.bbc.co.uk/news/uk-30241903#
This clip shows the reasons why the vaccine is required http://www.bbc.co.uk/news/health-29502296

Sunday, November 23, 2014

Cross elasticity of demand: Fuel and donkeys in Iran

Great example from the BBC

http://www.bbc.co.uk/news/blogs-news-from-elsewhere-30051970

Sunday, November 16, 2014

What fine should you get for littering?

£500 for a Pringles lid? So reports the BBC

http://www.bbc.co.uk/news/uk-england-bristol-29949175

Successful information provision by governments to reduce market failure: Drink driving public information films

From the BBC

http://www.bbc.co.uk/news/uk-29948187 and http://www.bbc.co.uk/news/uk-29936901

Positive and negative externalities from the Jakarta sea wall

Great clip from the BBC

http://www.bbc.co.uk/news/business-30030189#

Why governments tax fuel: Price Elasticity of Demand in action

Nice story from Australia from the BBC

http://www.bbc.co.uk/news/business-29983483#

Why the price of oil if falling

60 second summary from the BBC

http://www.bbc.co.uk/news/business-29745684#

Information failure and market failure: legal highs

A longer than normal clip (10 mins) which raises a lot of issues about information failure and possible government actions

http://www.bbc.co.uk/news/uk-23178688

Also, other BBC clips on the issue http://www.bbc.co.uk/news/uk-29829172# and http://www.bbc.co.uk/news/health-26364309 and http://www.bbc.co.uk/news/uk-26149954 and http://www.bbc.co.uk/news/health-26140661and http://www.bbc.co.uk/news/uk-wales-25982554 and http://www.bbc.co.uk/news/uk-england-25878280

Information failure? Is plastic food packaging safe

Interesting clip from the BBC

http://www.bbc.co.uk/news/uk-england-29631355#

Should we allow the advertising of e-cigarettes?

Intersting clip from Sky

http://news.sky.com/story/1370246/e-cigs-put-smoking-back-on-tv-after-49-years

Is there information failure? Will there be positive or negative externalities when they are consumed?

Perfect competition presentation

A comprehensive explanation from Mo Tanweer

http://motanweer.mediacore.tv/media/perfect-competition-2014

How competitive is the UK supermarket market?

Great data from economicshelp

http://www.economicshelp.org/blog/11947/economics/market-share-in-uk-supermarkets/

Sunday, October 26, 2014

Unit 2: The problems of deflation

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/978/economics/definition-of-deflation/

Thursday, October 16, 2014

Unit 1: Should we ban more public smoking?

That's the proposal for London, reports the BBC
http://www.bbc.co.uk/news/health-29625451# and

http://www.bbc.co.uk/news/uk-29633045#

Unit 1: Should we regulate against fast food outlets near schools?

Interesting clip from the BBC

http://www.bbc.co.uk/news/health-29637971#

Unit 1: Elasticity revision video

.... produced by students. I don't think I could have done beter myself!

https://www.youtube.com/watch?v=5yBqJqdPCFE#t=193

Saturday, October 11, 2014

Unit 1: The price of milk

Loads of stuff on S&D in this BBC interview
http://www.bbc.co.uk/news/uk-29502499#

Unit 1: Pre-loading and negative externalities

....reports the BBC
http://www.bbc.co.uk/news/health-29454768#

Unit 1: Plain packets for cigarettes in France

That bastion of smoking introduces regulations on packaging, reports the BBC
http://www.bbc.co.uk/news/world-europe-29373283#

Unit 2: The money supply and inflation

Thanks to economicshelp for this post
http://www.economicshelp.org/blog/5278/inflation/m4-money-supply-and-inflation/

Unit 2: Economic growth

Thanks to economicshelp for this data packed post
http://www.economicshelp.org/blog/5843/economics/economic-growth-stats-2/

Unit 2: The UK budget deficit

Thanks to economicshelp for this post
http://www.economicshelp.org/blog/5922/economics/uk-budget-deficit-2/

Unit 2: Monetary policy and the exchange rate

Thanks to economicshelp for this great post
http://www.economicshelp.org/blog/11550/currency/money-supply-and-the-exchange-rate/

Unit 1: Supply and demand criss cross

Thanks to tutor2u for this
http://www.tutor2u.net/blog/index.php/economics/comments/make-your-students-happy-test-their-demand-and-supply-knowledge-with-this-5?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:49:00Z

Unit 1: Allocative efficiency; the continuing change on the high street

Thanks to sky for this report
http://news.sky.com/story/1349807/high-street-decline-continues-with-shop-closures

Unit 2: What's measured in GDP

More than used to be the case as previously unrecorded drugs and prostitution output has been added reports Sky
http://news.sky.com/story/1344953/drugs-and-prostitutes-boost-economy-by-12-3bn

Saturday, September 20, 2014

Unit 1: Positive and negative externalities from the Kenyan flower industry

Nice clip from the BBC raising many issues regarding Africa growing flowers for Europe

http://www.bbc.co.uk/news/business-29276515#

Unit 1: Demand and supply of loom bands

Thanks to tutor2u for this activity

http://www.tutor2u.net/blog/index.php/economics/comments/loom-bands-a-demand-and-supply-example-and-activity

Thursday, September 18, 2014

Unit 1: Negative externalities from converting a mill

A pretty clear case of negative externalities in Hampshire reports the BBC

http://www.bbc.co.uk/news/uk-england-hampshire-29209283#

Unit 1: How do you combat market failure in the food market from excessive sugar?

Some ideas from a BBC clip

http://www.bbc.co.uk/news/health-29221018#

Unit 1: Are London fireworks a public good?

Debatable, according to this tutor2u post

http://www.tutor2u.net/blog/index.php/economics/comments/are-fireworks-in-london-a-public-good?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:13:20:00Z

Saturday, September 13, 2014

Unit 1: The economic problem: Who gets the goods produced

An interesting solution to scarce resources in Venezuela; fingerprinting(!) reports the BBC
http://www.bbc.co.uk/news/world-latin-america-28893383#

Unit 1: Welsh assembly plan to stop smoking in cars

.If you have a child in the car, a £50 fine reports BBC Wales
http://www.bbc.co.uk/news/uk-wales-29169124#

Unit 2: EU unemployment

Thanks to economicshelp for this
http://www.economicshelp.org/blog/1247/economics/european-unemployment-2/

Unit 2: Why is the AD curve downward sloping?

Thanks to economicshelp for this
http://www.economicshelp.org/blog/11437/economics/why-is-the-aggregate-demand-ad-curve-downward-sloping/

Unit 2: Exchange rates

Thanks to economicshelp for this explanation
http://www.economicshelp.org/blog/11422/economics/real-effective-exchange-rate/

Unit 2: The effect of contractionary fiscal policy in Japan

As you would expect, reports Sky
http://news.sky.com/story/1331936/japans-economy-dips-as-new-sales-tax-bites

Unit 2: A more accurate measure of output? Drugs and prostitution boost GDP

So reports Sky

http://news.sky.com/story/1329351/uk-economy-boosted-by-wider-contributions
and the BBC audio http://www.bbc.co.uk/news/business-29042385#

Saturday, September 06, 2014

Unit 1: e-cigarettes; are they a case of market failure requiring government intervention?

This appears not be clear cut with a lack of data on this new product market on long term health effects. This BBC clip may start you thinking

http://www.bbc.co.uk/news/uk-england-28983713# and Sky http://news.sky.com/story/1324805/call-for-e-cigarettes-to-be-banned-indoors.
This might alter your views!
http://news.sky.com/story/1330462/report-e-cigarettes-could-save-thousands

Saturday, August 23, 2014

Cost Benefit Analysis: Swansea lagoon

Thanks to tutor2u for pulling together these resources

http://www.tutor2u.net/blog/index.php/economics/comments/cost-benefit-analysis-swansea-tidal-lagoon?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:17:00Z

Unit 2: What determines the level of interest rates?

An interesting article from the Guardian

http://www.theguardian.com/business/2014/aug/17/interest-rates-go-up-five-points-bank-of-england-decide

Friday, August 15, 2014

Unit 2: Supply side policies to tackle youth unemployment in Kenya

This Aljazeera video shows a small supply side policy; low interest loans from government

http://bcove.me/bnt3wne8

Tuesday, August 12, 2014

Unit 1: Should we have warning labels on alcohol bottles?

An interesting topic for evaluation which could start with this BBC clip

http://www.bbc.co.uk/news/uk-28736758#

Sunday, August 10, 2014

Unit 2: How good a measure of growth is GDP

Nice summary from the BBC

http://www.bbc.co.uk/news/business-28324971

Unit 1: Rising demand for Steinway pianos in China

Rising incomes seems to be the main, but not the sole reason reports the BBC

http://www.bbc.co.uk/news/business-28578541#

Unit 1: Aspirin: Am I suffering from information failure?

Is there under consumption of aspirin in the free market? It appears there might be according to this BBC report

http://www.bbc.co.uk/news/health-28670584

Unit 1: Public and private goods: The farmer's road

Nice story from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/public-and-private-goods-farmer-opens-a-toll-road?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:14:55:00Z

Unit 1: The economic problem: Unlimited wants in health care

NICE's decision not to finance a new cancer drug highlights the basic economic problem

http://news.sky.com/story/1315056/breast-cancer-drug-too-expensive-for-nhs
http://www.bbc.co.uk/news/health-28701630#

Unit 1: Diesel tax: Making the polluter pay?

An interesting proposal for London to try and reduce air pollution

http://news.sky.com/story/1309480/dirty-diesel-drivers-face-new-tax-in-cities

Monday, July 07, 2014

Unit 2: The Glastonbury multiplier effect

Nice clip from the BBC

http://www.bbc.co.uk/news/business-28089558#

Unit 1: Should we just ban smoking?

This BBC short debate might help you make up your mind

http://www.bbc.co.uk/news/uk-politics-28088830#

Unit 1: Should we have a tax on fizzy drinks?

Nice clip from BBC Wales

http://www.bbc.co.uk/news/uk-wales-28144856#

Monday, June 30, 2014

Unit 2: Income equality; the effects of taxes and benefits

Good data source from the guardian

http://www.theguardian.com/news/datablog/2014/jun/26/is-wealth-being-distributed-fairly-through-benefits-and-taxation

Wednesday, June 25, 2014

Unit 1: The opportunity cost of watching Gangnam style

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/what-gangnam-style-represents-in-opportunity-cost-terms

Saturday, June 21, 2014

Unit 1: Substitution of factors of production

From labour to capital in Singapore reports the BBC

http://www.bbc.co.uk/news/business-27932240#

Saturday, June 14, 2014

Unit 1: Information failure in the statins market

I'm 56 so should I see my Doc to be put on statins? This BBC clip is a classic example of information failure because if the doctors don't agree, how should I decide?

http://www.bbc.co.uk/news/health-27790483#