Unit 1: Cuba moves towards the market system

.....according to the BBC

http://www.bbc.co.uk/news/world-latin-america-16336137

Unit 1: The end of tobacco displays

....is on its way, says the BBC

http://www.bbc.co.uk/news/uk-16343566 video
http://www.bbc.co.uk/news/uk-16342906 article

A) To what extent do you believe this measure will reduce the market failure in the tobacco market?

Unit 1: The price of peanuts

I love peanuts and so I've noticed the rising price in pubs and supermarkets. This post from tutor2u explains why

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-supply-shortages-drive-peanut-prices-higher

Unit 1: Examples of negative externalities

.....from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-video-clips-on-negative-production-externalities

Unit 1: Negative externalities from pop concerts

A few clear examples in this BBC news story

http://www.bbc.co.uk/news/uk-england-london-16312806

a) What are the negative externalities arising from the Hyde Park concerts listed in the article?
b) Explain why these are negative externalities
c) What form of action is the government suggesting to reduce the market failure?
d) How likely is such a course of action to reduce the market failure and lead to a more socially optimum output?

Unit 2: Macro data

Economicshelp's outlook for 2012 has some great macro data charts in it

http://www.economicshelp.org/blog/4689/economics/uk-economy-2012-forecasts/

Unit 2: Falling disposable incomes and their effect on consumption

An interesting post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/changing-consumer-behaviour-falling-incomes

Unit 1: The price of Christmas trees

Here's the annual story from the BBC

http://www.bbc.co.uk/news/uk-16142610

a) Using a S&D diagram, explain the increase in tree prices. Hint: Think carefully about how you draw the supply curve!

Unit 2: The costs of youth unemployment

A fine article from the BBC

http://www.bbc.co.uk/news/business-16156849

Unit 2: Slight fall in UK inflation

Thanks to anforme for this post

http://www.anforme.co.uk/blog/?p=2450

and the BBC

http://www.bbc.co.uk/news/business-16160960 video
http://www.bbc.co.uk/news/business-16154965 article

Unit 2: Comparing EU unemployment data

A nice interactive chart from the BBC

http://www.bbc.co.uk/news/business-13359367

Unit 1: Soaring chocolate prices

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-chocolate-prices-soar

a) Using the info in the article and using a diagram, explain why chocolate prices are rising fast

Unit 1: A market in disequilibrium: Butter in Norway (believe it not!)

I love this story from Planet Money

http://www.npr.org/blogs/money/2011/12/13/143632326/a-rich-country-runs-out-of-butter?ft=1&f=93559255

with a follow up from the BBC

http://www.bbc.co.uk/news/world-europe-16170808

a) Can you use a S&D diagram to explain this problem?

Unit 2: Unemployment gets worse

....in all sorts of ways. The data is depressing

http://news.sky.com/home/business/article/16129991 Sky
http://www.bbc.co.uk/news/business-16180144 BBC video
http://www.bbc.co.uk/news/uk-16189158 BBC video
http://www.bbc.co.uk/news/business-16175309 BBC artcle and data

Unit 1: The external cost of excessive alcohol

The Guardian has some unbelievable stats in this article

http://www.guardian.co.uk/society/2011/dec/09/hospital-admissions-drinking-double?INTCMP=SRCH

a) Why is this an external cost of alcohol consumption?
b) State 3 other external costs of alcohol consumption
c) What actions could the government take to internalise these external costs of alcohol?

Unit 1: Does legislation work to curb alcohol consumption?

The answer would appear to be "yes" from early evidence in Scotland

http://www.bbc.co.uk/news/health-16097832

Unit 2: How to boost growth

This BBC aricle contains a mix of remedies

http://www.bbc.co.uk/news/business-15003833

a) Seperate the policies in to supply side and demand side policies
b) To what extent are such policies likely to be successful in boosting the rate of economic growth?

Unit 1: Migrant labour and the PPC

Qatar has more migrants than Quatari's reports the BBC

http://www.bbc.co.uk/news/business-16052572

a) Using a diagram, explain the effect of this migration on Qatar's production posibility curve

Unit 2: How to increase economic growth

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/4493/economics/how-to-increase-economic-growth/

Unit 2: Economic growth in Australia

....reports the BBC

http://www.bbc.co.uk/news/business-16076812 video
http://www.bbc.co.uk/news/business-16063331 article

...and a cut in interest rates

http://www.bbc.co.uk/news/business-16044504

Unit 1: Negative externalities: Smog in Beijing

A fantastic clip from the BBC

http://www.bbc.co.uk/news/world-asia-16049592

a) Why is the smog an example of a negative externality?
b) What actions could the government take to reduce the negative externality?
c) To what extent is each policy likely to be successful?

Unit 1: Information failure when shopping

A nice clip from the BBC

http://news.bbc.co.uk/panorama/hi/front_page/newsid_9655000/9655493.stm

a) What is the information failure consumers are suffering?
b) What is the result in the free market?
c) What actions could the government take to eradicate this information failure for the consumer?

Unit 1: Should smoking in cars be banned?

Some interesting thoughts here

http://www.confused.com/news-views/blogs/should-smoking-in-cars-be-banned?MediaCode=806&utm_medium=email&utm_campaign=Newsletter&utm_source=Newsletter05Dec

Unit 2 How useful are supply side policies in a recession?

A nice summary from economicshelp

http://www.economicshelp.org/blog/4401/economics/the-role-of-supply-side-policies-in-a-recession/

Unit 1: The whisky market

....is growing according to the BBC

http://www.bbc.co.uk/news/uk-scotland-16007905

a) Which of the factors that effect demand are causing the increasing demand for whisky?
b) Is supply elastic or inelastic? Explain your answer
c) Given your answers to a) and b) draw a S&D diagram to show the effect on the whisky market if demand continues to grow

Unit 1 : Alcohol; a demerit good

A sad story from the BBC

http://www.bbc.co.uk/news/health-15998280

a) What evidence is there in the video of the 2 elements of demerit goods; ie information failure and negative externalities
b) Towhat extent do you believe higher taxes and better information to consumers would reduce alcohol consumption?

Unit 1: Elasticity of supply: Biscuits

A great video found by tutor2u

http://www.unitedbiscuits.com/video/videoPopup.php?w=756&h=576

a) Would the supply of these biscuits likely be elastic or inelastic? Explain your answer?

Unit 2: European unemployment data

The latest (Nov 2011) figs from the BBC

http://www.bbc.co.uk/news/business-15961626