Sunday, December 26, 2010

Unit 1: The rise in demand for Harris tweed

Sky reports the resurgence in demand for Harris tweed

a) Using economic theory, explain why demand for harris tweed has risen

Saturday, December 18, 2010

Unit 1: Tradable permit carbon trading scheme set up in California

From the BBC

a) Discuss how successful you think this scheme will be in educing CO2 emissions in California

Unit 2: Inflation: EU resource

Thanks to turo2u for pointing out this great resource on most aspects of inflation

Thursday, December 16, 2010

Unit 1: The sharp rise in the price of heating oil

A really good clip from the BBC

a) Using a S&D diagram, explain why the price of heating oil has risen so rapidly
b) What do you think will happen to the price in 3 months time? Explain your answer

Tuesday, December 14, 2010

Unit 2: Inflation at 3.3%

A nice clip from the BBC showing why inflation has risen.....again

a) Why is inflation only 3.3% if food prices are rising by 5% and alcohol by 10%?

Unit 1: Subsidies for electric cars

The BBC reports subsidies to buyers of electric cars

a) Analyse the likely effect of the subsidy on the market
b) Comment on the assertion that this subsidy is likely to kick start the market for electric cars in the UK

Unit 1: BA increases long haul fares

.....reports sky

a) Using a S&D diagram, why they have increased the price
b) Comment on the extent to which this will decrease demand for these flights

Saturday, December 11, 2010

Unit 2: Rising inflation rate in China

As reported by the BBC

a) What does the inflation rate measure?
b) What is the most likely cause of the rising Chinese inflation rate?
c) Why is it suggested that interest rates will rise?

Friday, December 10, 2010

Tuesday, December 07, 2010

Unit 1: Asprin; a merit good?

The latest news on the potential power of asprin from the BBC video article

a) To what extent does this this extract suggest asprin is a merit good?
b) If it is a merit good, how does the market fail?
c) What actions could the government take to reduce this market failure?
To what extent do you believe the government can reduce the market failure?

Monday, December 06, 2010

Unit 1: Allocative efficiency: The changing highstreet

A nice BBC clip

and this data

a) Explain how the clip and article shows the concept of allocative efficiency in action

Sunday, December 05, 2010

Unit 1: Rising demand for heroin in the Punjab and the resulting negative externalities

A disturbing clip from the BBC

a) Using economics, explain the reason for the rising demand for heroin in the pujab
b) What negative externalities arise from this drug use?

Unit 2: Economic growth to slow in 2011?

An interesting clip from the BBC

a) Using the AD formula, explain why growth is expected to slow next year

Unit 2: Comparative unemployment figures

Latest comparative figures from the EU

and the USA

a) Given the figures, how much of a problem is the UK unemployment rate for the government?

Saturday, December 04, 2010

Unit 1: Reducing negative externalities from ill health

Here's the new coalition plan

a) Th what extent do you think the "nudge" strategy will reduce the cost to the NHS for alcohol and obesity (just under £7bn a year, he said)?

Unit 1: Increased excise duty on super strenght lager

The BBC reports that higher alcohol taxes are on the way on super strenght lager

a) To what extent is this likely to reduce the negative externalities asociated with their consumption (Use a diagram in your answer)

Unit 2: The costs and benefits of economic growth

This link will take you to a page where there are 6 videos all following the transformation (or obliteration) of a Chinese village into a city....a huge, growing city. The pros and cons of economic growth are clear to see

Unit 2: Economic growth in India

A good BBC clip

a) Using the AD formula, explain the recent growth in India
b) To what extent do you believe such growth is likely to continue in the future

Unit 1: Recycling and associated positive and negative externalities

An interesting story form BBC Wales about a proposed waste recycling plant

a) Explain the positive and negative externalities that could result from this recycling plant

Unit 1: AS microeconomics and macroeconomics key terms tests

Useful self-test tools from tutor2u micro macro

Unit 2: What is a recession?

Thanks to tutor2u for this witty Australian explanation of what a recession is

Unit 2: The unequal effect of unemployment: Rising long term youth unemployment

Sky news and the BBC report rising long term youth unemployment

The bBC reports how much harder the diabled are hit by unemployment

a) To what extent should the government be worried by these figures?