Wednesday, September 27, 2006

Unit 3: Macro data

An excellent graph at the top of this page from Geoff Rileys blog.

Have a look at the graph and then explain the TREND for each variable

Unit 1: What determines the price of oil?

This article from Geoff Riley's blog is a bit more detailed than normal, but it clearly shows how various demand and supply factors influence the price of oil; spare a few extra minutes to read it!

Monday, September 25, 2006

Unit 2: Inequality of income distribution

Can you believe this! Did you think income was a sunequally distributed as this? What ECONOMIC justification could there be for such disparity?

Unit 1: Supply

What would be the effect on the supply of the products produced by the firms facing the increased energy costs described in the article?

Show the effect on a supply and demand diagram

Unit 2: National Minimum Wage

This, from Geoff Riley, gives some of the reasons employers give for not paying the legal NMW

Friday, September 22, 2006

Unit 1: The effect of the weather on demand

This BBC article shows how the summer heatwave effected demand for a variety of products.

Suggest products that would have seen a fall in demand

Unit 1: The price of coffee

What's happened to the price of coffee? Why? Is it to do with demand or supply?

Read the article and then show the effect of the changes you identifiy on a S&D diagram

Unit 3 Fiscal and Monetary policy

A short revision sheet on what these are and how they effect the economy form Geoff Riley

Unit 3: Macro data exercise

Here is a task to gain some information about the state of the UK and one other economy from Geoff Riley

Unit 3: Protectionism

Read the article below and then

- state the protection method used by the USA and draw a diagram to show its effect

- explain why the USA is protecting its home producers

Unit 2: National Minimum Wage

This article outlines one of the alleged disadvantages of the NMW. Can you produce a counter-argument?

Friday, September 15, 2006

Unit 1: Elasticity of demand

Look at this brief article and then ask yourself

1. What do the car park owners believe the demand for their product to be?
2. What do you think will happen to the revenue of the car park operators?
3. Show these changes in price/revenue on a diagram

Unit 3: Protectionism

An interesting turn on normal events. This article shows a developing country protecting home producers and the western nations complaining

Wednesday, September 13, 2006

Unit 2: Negative externalities from growth in China

From Geoff Rileys blog comes this interesting short piece illustrating some of the negative externalities associated with the repid growth of the Chinese economy

Unit 2: Overcoming market failure

Below is a Guardian article which gives an example of tradable permits in action. Does this overcome the market failure? What is the identified weaknesses of the system outlined in the article?,,1870212,00.html

Unit 1: Pricing solar panels

Below is a link to a great article in the Guardian about the rising demand for solar panels

Having read the article you should be able to show on S&D diagrams what has happened to the price of solar panels from various effects
a) the government subsidy
b)the rise in consumer energy prices
c) the potential impact of the panels being produced on a much larger scale as in China,,1869308,00.html

Friday, September 08, 2006

Unit 1: Monopoly

An excellent site explaining all about Monopoly

Unit 3: The state of the UK economy

A good article from the Guardian assessing how well the UK is doing in terms of its macro-economic objectives in comparison to other countries,,1865576,00.html

Thursday, September 07, 2006

Unit 1: The price of foreign holidays

Read the article in the link below from Geoff Riley's blog and then
1. Draw a demand diagram to show the effect on demand of the average price of a holiday rising to over £500
2. Draw a S&D diagram to show how the fall in prices this summer came about

Wednesday, September 06, 2006

Unit 3: Macro data for UK

If you go to Geoff Riley's blog for Monday 4th Sept (click on the link below), there is a great series of powerpoint slides with data on the UK economy. The blog is entitled "UK economy in picture". Well worth looking at as you do unit 3

Monday, September 04, 2006

Unit 2: Externalities and Government response

Here is what the state of California has done to try and reduce carbon emissions. What is the externality and which of the 3 possible responses has California used? Why do you think they chose these options and not the alternatives?

Friday, September 01, 2006

Unit 2: solving externalities

Below is a posting from Geoff Riley's blog. Read it and the ask yourself
a) What is the problem?
b) What are the solutions proposed by the MP's and how would they work
c) What alternative solutions can you suggest

MPs call for higher road and air taxes

Unit 3: Inflation

Below is an article from Geoff Riley's blog. It suggests that the official inflation rate is not a fair indicator of the inflation faced by the oldest section of UK society; why?

Inflation is hitting the oldest hardest

Unit 1: Supply and Demand

Below is a link to Geoff Riley's blog which talks about the rise in coffee prices.
Read it and then decide whether it is D or S which has altered. Draw a diagram to show the effect on the world price

Coffee prices spike to new seven year high

Unit 3: Macro data

Below is a link to Geoff Riley's blog which has the latest macro economic data. As ever, you should look for trends, unusual data, etc

Brief update on the state of the UK economy

Unit 3: Infation

Here's a great article from the Guardian on inflation. When you've read it, ask yourself the question "Does the CPI represent my personal infation rate? If not, why not?",,1859669,00.html