Unit 1: Costs, benefits and externalities from a Siberian dam

Great clip from the BBC

http://www.bbc.co.uk/news/world-europe-13786515

a) Explain private benefits that will arise from the project
b) Explain private costs that will arise from the project
c) Explain external benefits (positive externalities) that will arise from the project
d) Explain external costs (negative externalities) that will arise from the project

Unit 1: An unusual example of a negative externality from smoking cannabis

We all know the standard arguments against smoking cannabis, both in terms of private costs, private benefits and external costs..............but here's an unusual one from the BBC

http://www.bbc.co.uk/news/world-asia-20107973#

a) What are he private costs and private benefits from consuming cannabis?
b) Explain, using the standard definition, the negative  externality outlined in the article
c) How does the market fail?

Unit 2: GDP growth and unemployment rates for non EU countries

......courtesy of economicshelp

http://www.economicshelp.org/blog/6071/economics/econ-growth-and-unemployment-stats-countries-with-own-currency/

Unit 1: Common food labelling

...is on the way, according to the BBC

http://www.bbc.co.uk/news/health-20054005#

a) Why does the government want this common scheme? ie how does the free market for food fail?
b) Comment on the extent to which this scheme, if introduced, would reduce the market failure

Unit 1: The price of a driving permit in Shanghai

Thanks to tutor2u for pointing out this article

http://www.shanghaidaily.com/nsp/Metro/2012/10/21/Demand%2Bkeeps%2Bplate%2Bprices%2Bhigh/

a) Using a S&D diagram, explain the rising price of a driving permit in Shanghai

Unit 2: Consumption and AD data Oct 2012

Thanks to tutor2u for this data

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-are-uk-consumers-on-the-comeback-trail?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:40:02Z

Unit 2: How useful is GDP? Robert Kennedy's speech

Thanks to tutor2u for providing access to this wonderful clip of Bobby Kennedy questionning the point of measuring a country's standing by using GDP. You don't get speeches like this from politicians today (more's the pity)

http://www.tutor2u.net/blog/index.php/economics/comments/how-useful-gdp-is-as-a-measure-of-well-being-that-old-chestnut-once-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:04:52Z

Units 1 and 2: The costs of economic growth

....as seen in China with the negative externalities from China's rapid expansion clear to see

http://www.bbc.co.uk/news/world-asia-19995748#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa

a) What are the negative externalities highlighted in the film?
b) Why are these negative externalities?

Unit 1: Why are rents for flats and houses increasing?

A great audio clip from Radio 5live

http://www.bbc.co.uk/news/business-20003890#

Can you apply the following economic concepts to the clip?
Supply; Demand; equilibrium; complements, substitutes, Ped, XED

Unit 1: Changing taste and fashion in India

It appears even India can't escape the global reach of Starbucks......I wonder if they'll pay any taxes in India?

http://www.bbc.co.uk/news/business-20003701#

...and Costa as well

http://www.bbc.co.uk/news/business-19999782#

Unit 1: Why world food prices wil rise in the future

Great clip from Newsnight

http://www.bbc.co.uk/news/world-us-canada-19986655#

and a similar story from Aljazeera

http://www.youtube.com/watch?v=eT8aM_XPV1I


a) Using S&D theory, analyse why food prices are likey to rise
b) Comment on the idea that food price rises in the future are inevitable

Unit 2: Macro problems for the UK economy

A nice summary and great, up to date data, from economicshelp

http://www.economicshelp.org/blog/5962/economics/main-problems-of-uk-economy/

Unit 2: Inflation terms exlained

...by the BBC

http://www.bbc.co.uk/news/uk-politics-19909868#

Unit 2: The costs of youth unemployment to Spain

......the young are emigrating, according to the BBC

http://www.bbc.co.uk/news/world-europe-19868408#

a) What are the short and long run costs and benefits to Spain of  this emigration by their unemployed young people?

Unit 1: Liquid nitrogen cocktails: Acase for government intervention in the free market?

I couldn't believe this story

http://www.bbc.co.uk/news/uk-19878511#

a) What example of market failure would such drinks represent?
b) What methods of government intervention could be used to eliminate he market failure?
c) Comment on the likely success of such policies

Unit 2: UK budget deficit

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/5922/economics/uk-budget-deficit/

Unit 1: Why will UK food prices rise?

The poor summer weather and knock on effects are the cause according to the BBC

http://www.bbc.co.uk/news/uk-19892971 video
http://www.bbc.co.uk/news/uk-19890250 article

Using S&D analysis, explain why the price of foods such as bread, milk and beef will rise

Unit 2: What determines how internationally competitive a country is?

Thanks to economicshelp for this summary

http://econ.economicshelp.org/2007/06/what-determines-international.html

Unit 2: Unemployment in the USA

Great map from the Guardian

http://www.guardian.co.uk/news/datablog/interactive/2011/sep/08/us-unemployment-obama-jobs-speech-state-map

a) Using information from the map and the evaluative criteria covered in class, discuss how much of a problem unemployment is for the US economy

Unit 1: Seasonal demand for new cars

Nice graph in this post from Sky news showing the seasonal nature of new car sales in the UK

http://news.sky.com/story/993106/new-car-registrations-get-number-plate-boost

a) Which determinant of demand is causing this twice yearly peak?

Unit 2: Economic growth data

Thanks to economicshelp for this up to date for the UK and other countries

http://www.economicshelp.org/blog/5843/economics/economic-growth-stats/

Unit 2: Does a current account deficit matter?

Nice evaluation from economicshelp

http://econ.economicshelp.org/2007/03/does-current-account-deficit-matter.html

Unit 1: Pension auto-enrollment: Action to reduce market failure?

This BBC clip explains the process

http://www.bbc.co.uk/news/uk-19783248#

a) How does the free market for pensions fail?
b) Comment on the extent to which this scheme will reduce the market failure

Unit 2: Understanding unemployment figures

I like this summary article from the BBC

http://www.bbc.co.uk/news/business-19745115

Unit 2: The costs of unemployment

Nice article from the BBC

http://www.bbc.co.uk/news/business-19784062