Unit 3: Infation: Updated OHP preentation

This is an updated presentation on Inflation from Geoff Riley's blog

http://www.tutor2u.net/newsmanager/templates/?a=2110&z=1

Unit 1: The price of corn

This BBC clip explains why the price of corn (and corn derived products) is rising and likely to continue rising


< http://www.bbc.co.uk/mediaselector/check/player/nol/newsid_6270000/newsid_6277800?redirect=6277809.stm&news=1&nbwm=1&nbram=1&bbwm=1&bbram=1 >

a) How would you describe the SUPPLY of corn available this year?
b) What has happened to DEMAND and which of the factors that effect demand have changed?
c) Draw a S&D diagram to show this effect
d) What will happen to the market over the next few years?
d) Draw a diagram and explain why the price of bread will increase
e) Draw a diagram and explain the effect of a subsidy on the bio-fuel market

Unit 2: Negative externalities in Romania

This BBC clip shows many negative externalities which this romanian town suffers from

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6269225 >

a) What are the PRIVATE costs and benefits of the industry in the town?
b) What are the EXTERNAL costs and benefits of the industry in the town?
c) How is the government taking action to ensure the situation improves?
d) To what extent do you believe they will be successful?

Unit 2: Climate change negative externalities

This clip shows some of the negative externalities associated with CO2 emmissions

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6267649 >

a) What are these effects?
b) Why would an economist class them as examples of negative externalities/external costs?

Unit 3: Inflation at an 11 year high

This link is to the BBC's Evan Davies discussing the rise in inflation on the clip and an associated BBC article. here is also a more general BBC article

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&amp;amp;bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6266449 >

http://news.bbc.co.uk/1/hi/business/6268819.stm

http://news.bbc.co.uk/1/hi/business/6266263.stm

a) What are the suggested causes of this inflation rise?
b) What are the likely effects suggested to be on the economy?
c) Why might this rise in inflation only be short-term?

Unit 3: Interest rates and inflation

On the day that UK interest rates rise to 5.25%, Evan Davies of BBC news has this great little summary

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&amp;bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6252225 >
In addition, background information from Geoff Riley's blog showing trends in interest rates at

http://www.tutor2u.net/newsmanager/templates/?a=2084&z=1

a) What reasons does he give for interest rates having to rise?
b) Show the effect on an AD/AS diagram
c) What should the positive effects be on the economy (use the diagram!)
d) Not all the effects will be positive. From the clip and the diagram explain the likely negative effects on the economy

Unit 2 Government intervention: OFT investigation into competition issues

The OFT has announced it is to investigate the puchase of 17.9% of ITV by BSkyB

http://news.bbc.co.uk/1/hi/business/6255727.stm

a) What is the potential worry here?
b) Under which of the 6 market failure headings would you classify this?
c) What action can the OFT take if they think there is a case to answer?

Unit 2: Government action; enforcing the minimum wage

Abrief item showing how enforcement of legislation can occur

http://news.bbc.co.uk/1/hi/uk/6243307.stm

Unit 1: Demand for smoothies

This article says sales of smoothies has rocketed.

http://news.bbc.co.uk/1/hi/business/6230461.stm

a) Why in general terms?
b) Why in economic terms?

Unit2: The polluter pays...or should he?

This article from the Times via Geoff Riley's blog argues that the polluter pays principle of internalising negative externalities may be unfair

Do you think he has a point?

http://www.tutor2u.net/newsmanager/templates/?a=2061&z=1

Unit 1: The housing market

From Geoff Riley comes this powerpoint slide analysis of the housing market in 2006. A lot of detail but very interesting

http://www.tutor2u.net/newsmanager/templates/?a=2051&z=1

Unit 1: The oil market

From Geoff Riley comes this powerpoint summary of the oil market in 2006. A lot of detail but very interesting

http://www.tutor2u.net/newsmanager/templates/?a=2049&z=1

Unit 1: The price of handbags

This BBC clip says that a handbag is now the most desirable and fastest growing accessory

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6217193 >

a) Why has demand increased?
b) Limited editions sell for considerably more than the "normal" version. Use supply and demand analysis to explain why this can be the case

Unit 1: S&D and market structure: The champagne market

This BBC clip helps explain changes in the champagne market

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6218353 >

a) What has happened to demand?
b) Which of the factors that influence demand account for this?
c) What determines the supply of champagne available today?
d) How would you therefore describe the current supply of champagne?
e) What market structure best represents the champagne market?
f) Which of the criteria for that structure are/are not present; ie to what extent does it reflect that market structure?

Unit 1: The Nigella effect on the demand for goose fat

What price the celbrity effect? This article from the Guardian shows the effect of an endorsement by celebrity Nigella Lawson on the sales of goose fat

http://www.guardian.co.uk/food/Story/0,,1970107,00.html

a) Which of the factors that influence demand has changed?
b) What has happened to the demand curve for goose fat?

Unit 1: The price of orange juice

A great article from the Guardian explaining all sorts of things about the orange industry but particularly explaining why the price will rise in the near future

http://business.guardian.co.uk/story/0,,1969053,00.html

a) What factors are identified as having reduced supply
b) Draw a diagram to show how these changes have caused the price to rise

Unit 2: Market dominance: BAA and air passenger travel

The OFT is likely to recommend a Competition Commission enquiry into BAA says this BBC article:

http://news.bbc.co.uk/1/hi/business/6171365.stm

a)On what grounds?
b) Given its market share, what term could you use to describe BAA's market position?

Unit 2: Tradable permits: The EU Carbon Trading and fines on firms for non-compliance

Geoff Riley's blog has this story about 2 firms fined for non-compliance with the scheme and a link to more details on the scheme

http://www.tutor2u.net/newsmanager/templates/?a=2028&z=1

Unit 3: Exchange rates and the BOP: More on the fall of the dollar

This article from the Independent is great!

a) If the dollar is falling in value, what is happening to the value of the pound?
b)What does the article suggest are the advantages and disadvantages TO THE UK ECONOMY of this change
c) To what extent will the current account of the BOP be effected by the fall in value of the dollar?

http://news.independent.co.uk/business/news/article2032660.ece

Unit 2: Overcoming negative externalities: Road pricing; the Eddington report

The Eddingon report on on the future of UK transport suggests a role for road pricing. This video clip suggests why

Drivers should be charged according to how much they use the roads, says a report on the future of transport in Britain.< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&amp;amp;bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6197498 >

More on the report can be found at

http://news.bbc.co.uk/1/hi/uk_politics/6160877.stm

and other links are listed with a summary at Geoff Riley's blog

http://www.tutor2u.net/newsmanager/templates/?a=2018&z=1


As the prospect of green taxes loom, this BBC Midlands Today video clip examines what road pricing might cost some of the region's commuters.

< http://www.bbc.co.uk/mediaselector/check/nolavconsole/ukfs_news/hi?redirect=st.stm&news=1&amp;amp;bbram=1&bbwm=1&nbram=1&nbwm=1&nol_storyid=6099642 >