Tuesday, October 30, 2012

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

Great clip from the BBC


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

Saturday, October 27, 2012

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


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


Friday, October 26, 2012

Unit 1: Common food labelling

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


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


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


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)


Friday, October 19, 2012

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


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


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?


...and Costa as well


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

Great clip from Newsnight


and a similar story from Aljazeera


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

Sunday, October 14, 2012

Unit 2: Inflation terms exlained

...by the BBC


Unit 2: The costs of youth unemployment to Spain

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


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


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


Wednesday, October 10, 2012

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

Monday, October 08, 2012

Friday, October 05, 2012

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


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


Tuesday, October 02, 2012