Sunday, February 27, 2011

Unit 1: Information failure; various examples from tutor2u

These posts from tutor2u are really informative examples of market failure due to information failure cigarettes/smoking second hand cars cowboy builders the bazaar Coca Cola surgery drugs broadband

Friday, February 25, 2011

Unit 1: The rising demand for mead

The BBC reports a rising demand for mead

a) How would an economist account for the rising demand for mead?

Monday, February 21, 2011

Unit 2: Graduate internship: A supply side policy?

The graduate internship scheme may be coming to an end, but this clip argues it's been a worthwhile scheme

a) Explain why the government's expenditure on graduate internships a supply side policy
b) What is the likely effect of the scheme on the UK economy?

Unit 1: Market failure from alcohol consumption

A nice summary of the problem and possible solutions from economicshelp

This BBC clip sums up the problem of leaving alcohol to the free martket

Friday, February 18, 2011

Unit 1: Rising textile prices

A nice clip on rising textile prices in the USA

a) Using the first half of the video only, using a S&D diagram, explain why prices of clothes in the USA ar likely to rise

Unit 2: Conflicting macroeconomic objectives

This is a brilliant clip of Mervyn King explaining the rationale for the monetary policy followed by the BoE as a response to questionning from BBC reporter Paul Mason

Unit 1: The changing high street: Allocative efficiecy in action?

The BBC reports the changing face of the high street

...whilst Sky reports increasing on-line sales

a) In what way does this illustrate the economy becoming more allocatively efficient in its use of scarce resources?

Unit 2: UK inflation; expected or unexpected?

The first 90 seconds of this BBC clip should give you an indication of whether the current 4% inflation rate was expected or not

Unit 2: Will higher interest rates reduce the UK inflation rate?

A useful post from economicshelp

Unit 1: Positive externalities from mroof tiles!

Thanks to tutor2u for this story

Thursday, February 17, 2011

Unit 2: UK inflation hits 4%

This BBC clip oulines why inflation has risen again and also illustrates the effects on people in Norfolk

anforme analyse the figures

a) What are the costs of rising inflation to individuals?
b) What sort of inflation do you think the UK is experiencing? Explain your answer

Unit 2: Inflation: Historical data

Thanks to economics help for this

I particularly like the calculator at the top

Unit 2: ....and if you think our inflation is bad...

... then look at the 5 worst cases ever (thanks to tutor2u for finding this)

Unit 2: Worsening UK unemployment

The UK jobs outlook looks worse with things particularly bad for youth unemployment that hits 20% Sky - the video looks at the impact on 5 youngsters

I really like this graphic from the Guardian

.....and as usual a great summary from anforme

Monday, February 14, 2011

Unit 2: Economic growth: China moves to no 2

This BBC page has the details and also the latest list of nations by GDP and GDP per capita

Unit 2: Inflation stats

Thanks to tutor2u for pointing me to this site

Thursday, February 10, 2011

Unit 2: Monetary policy: Should the BoE raise interest rates?

This is a great audio clip from Hugh Pym on the dilema facing the MPC

a) Summarise the arguments for and against a rate rise

Unit 1: Externalities associated with waste incineration

A great BBC video

a) What are the positve externalities associated with waste incineration?
b) What are the negative externalities associated with waste incineration?

Unit 1: The impact of subsidies: Solar panels

A nice Newsnight clip

a) Using a S&D diagram, comment on the likely efect of these subsidies on the market for solar panels

Unit 2: BoP data

Thanks to tutor2u for this

Thursday, February 03, 2011

Unit 1: Negative externalities associated with obesity

The ambulance service is revamping its vehicles according to the BBC

a) How does the concept of externalities apply to this clip?

Unit 1: Actions around the world to curb smoking

Thanks to tutor2u for pointing out this BBC article

a) Identify the legislative approaches and taxation approaches used by different countries
b) Why do you think the actions vary so much between countries?

New York intends to go even further!

c) Comment on the likely success of this policy