Unit 1: Olive oil prices to rise?

Likely, according to this BBC clip

http://www.bbc.co.uk/news/business-21246537#

a) Using a S&D diagram, explain why the price of olive oil is likely to rise

Unit 1: Should we tax sugary drinks?

An interesting clip from the BBC

http://www.bbc.co.uk/news/health-21241944#

and Aljazeera

http://www.youtube.com/watch?v=I9amsrhrUaw

a) How does the market for sugar based drinks fail?
b) Using a S&D diagram, explain how the tax would help correct the market failure
c) Comment on the likely success of such a tax policy to reduce the market failure

Unit 1: Allocative efficiency: Where have resources moved out of?

Nice slide show of failed chain stores from Sky

http://news.sky.com/story/1044436/demand-for-high-street-shops-is-falling

Unit 2: What we trade and who we trade with

Data from economichelp

http://www.economicshelp.org/blog/5083/economics/what-does-the-uk-produce/

F582 scoop it boards

http://www.scoop.it/search?q=f582

http://www.scoop.it/t/unit-f582-the-national-international-economy

http://www.scoop.it/t/f582-the-national-and-international-economy

F581 scoop it boards

http://www.scoop.it/t/f581-as-micro

http://www.scoop.it/t/f581-markets-in-action

http://www.scoop.it/t/marketfailure

http://www.scoop.it/t/hamarketfailure

http://www.scoop.it/t/market-failure-negative-externalities-obesity

http://www.scoop.it/t/market-failure-negative-externalities-alcohol

http://www.scoop.it/t/econ-market-failure

Scoop it resources from Geoff Riley

http://www.scoop.it/u/geoff-riley#curatedTopicsTabSelected all boards. For AS, the 2 most useful are:

http://www.scoop.it/t/developments-in-the-uk-economy/p/3977417844/mclaren-formula-one-engineers-set-to-cash-in-on-winning-formula?sc_source=http%3A%2F%2Fwww.tutor2u.net%2Fblog%2Findex.php%2Feconomics%2Fcomments%2Fdevelopments-in-the-uk-economy2%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Beconomics_news%2B%2528tutor2u%2BEconomics%2BBlog%2529%23When%3A17%3A59%3A03Z developments in the UK economy

http://www.scoop.it/t/as-macro-inflation-and-unemployment inflation and unemployment

Unit 1: The internet: A public good?

It appears not as this article illustrates

http://www.bbc.co.uk/news/technology-21164871#

a) Given the choice of public, private or quasi-public good, explain which you would choose for an internet connecton

Unit 2: The costs of economic growth in China

....are all too evident from these BBC  videos and article

http://www.bbc.co.uk/news/world-asia-21271656# video
http://www.bbc.co.uk/news/world-asia-21016180# video
http://www.bbc.co.uk/news/magazine-21198265# article

Unit 1: Positive and negative externalities in Beijing

Great article from the BBC

http://www.bbc.co.uk/news/magazine-21198265#

a) Explain both the positive and negative externalities associated with China's rapid economic growth from the article

Unit 2: UK economy shrinks in final quarter of 2012

....reports the BBC

http://www.bbc.co.uk/news/business-21193856# video
http://www.bbc.co.uk/news/business-21193525# article

Unit 1: Rising affluence in China and the demand for luxury yachts

....as reported by the BBC

http://www.bbc.co.uk/news/business-21155560#

Unit 2: The worst UK recession....ever

....as shown by this Guardian graphic

http://www.guardian.co.uk/news/datablog/interactive/2012/sep/27/recessions-compared-1930-2008

Unit 2: Unemployment data for Spain and the EU

Great data in this Sky news post, including the sky high youth unemployment rate in Spain

http://news.sky.com/story/1042210/spain-unemployment-for-under-25s-over-55-percent
http://www.bbc.co.uk/news/business-21180371#

http://www.youtube.com/watch?v=T17loAkNbAs Aljazeera video

Unit 2: Unemployment falls in the UK

....reports the BBC

http://www.bbc.co.uk/news/business-21167493# video
http://www.bbc.co.uk/news/business-21158815# article

Unit 1: A flaw in the EU tradable permits scheme

The recession has reduced demand for the permits and so the price of pollution has fallen, according to the BBC

http://www.bbc.co.uk/news/business-21133917#

a) Why is this price fall a problem?

Unit 2: A cost of unemployment

....to a country can be the loss of it's workers as they emigrate in search of work. The higher the unemployment rate, the more likely this is to happen

This BBC clip shows Spanish workers in Germany

http://www.bbc.co.uk/news/world-africa-21137326#

Unit 1: Information failure in the ecstacy market

Given that the market is illegal and therefore unregulated, there is no knowing what an ecstacy pill might contain. This clip from the BBC illustrates the extreme outcome of information failure in buying ecstacy

http://www.bbc.co.uk/news/uk-21141846#

Unit 1: Positive externalities from the smoking ban

....reports the BBC

http://www.bbc.co.uk/news/health-21116819#

Unit 1: Electronic cigarettes; a substitute for the tobacco industry?

Thanks to tuor2u for this post

http://www.tutor2u.net/blog/index.php/economics/comments/do-you-mind-if-i-vape-what-about-electronic-cigarettes

Unit 1: The trade off for water use in Peru

A great video from Aljazeera which can be used as an example to draw PPC's

http://www.youtube.com/watch?v=1SgYlZJHDv4

Unit 2: The changing composition of AD in China

Nice clip from the BBC

http://www.bbc.co.uk/news/business-21071960#

Unit 1: Legal highs; a case of information failure?

It looks like it, according to the BBC

http://www.bbc.co.uk/news/uk-england-london-21009350#

a) Comment on the possible solutions  to this market failure

Unit 2: Macro data

Tutor2u's dropbox link to their latest data

https://www.dropbox.com/s/ath670hrrfdaoha/UK%20Economy%20%E2%80%93%20Introduction%20to%20AS%20Macro%20%28.pptx

Unit1: Negative externalities: Severe smog in Beijing

...according to Aljazeera. It looks grim

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

and the BBC

http://www.bbc.co.uk/news/world-asia-21016180#

Unit 2: Comparative EU unemployment data

....from this BBC video

http://www.bbc.co.uk/news/business-20953290#

and Greece's latest data makes it worse than Spain

http://www.bbc.co.uk/news/business-20968845#

Unit Assymetric information failure in the football pie market

Don't you love it when you find a really different example? Thanks to tutor2u for a post that combines meat pies and the esteemed Joe Stiglitz

http://www.tutor2u.net/blog/index.php/economics/comments/paul-ormerod-meat-and-potato-pies-and-the-nobel-prize-in-economics

Unit 2: Benefit spending in the UK

Nice graphic from the Guardian

http://www.guardian.co.uk/news/datablog/2013/jan/08/uk-benefit-welfare-spending#zoomed-picture

Unit 2: How much of a problem is a balance of payments current account deficit?

I like the evaluative component (near the end) of this post from economicshelp

http://www.economicshelp.org/blog/6701/trade/importance-of-current-account-deficit/

Unit 1: A disadvantage of imposing indirect taxes on cigarettes

Smuggling! Great example from the NY Times

http://economix.blogs.nytimes.com/2013/01/10/cigarette-taxes-vs-cigarette-smuggling/

Unit 1: Allocative efficiency on the high street; the demise of Jessops and Blockbusters

All stores will close

http://news.sky.com/story/1036884/jessops-close-all-stores-1370-jobs-to-go Sky
http://www.bbc.co.uk/news/business-20964648# BBC Jessops
http://www.bbc.co.uk/news/business-21046548# BBC Blockbusters

a) How does the closure of Jessops/Blockbusters show allocative effficiency on the high street?

Unit 2: Fiscal policy stimulus in Japan

...reports Sky

http://news.sky.com/story/1036574/japan-unveils-huge-economic-stimulus-package

Unit 1: What should be done about the junk food market failure?

A series of tweets covering the topic

http://storify.com/MrPryer/the-junk-food-debate

Unit 1: Allocative efficiency in the magazine market; bye-bye Newsweek

So farewell to the print edition of Newsweek

http://www.bbc.co.uk/news/business-20875125

....and readers Digest appears to be following the same path

a) How does this story reflect the idea of allocative efficiency?

Unit 1: Revision help

I've just come across these youtube videos from Enhance Tuition where they go through exam technique and answer past questions.

http://www.youtube.com/user/EnhanceTuition/videos

BUT!!!!!!! Remember this is one teacher's interpretation of the questions and the examiner's published markscheme, it is not the holy grail!

Unit 1: Reducing the negative externalities associated with food waste

A fascinating story from South Korea courtesy of Aljazeera

http://www.youtube.com/watch?v=F8ZdRgjrjVg

a) Comment on how successful this policy appears to be (Make sure your answer is 2 sided!)

Unit 1: The importance of substitutes on demand: The video games industry

Console sales are down, reports Sky news

http://news.sky.com/story/1033534/console-sales-plunge-as-app-gaming-takes-off

a) Explain why, using the theory of demand
b) Draw 2 demand diagrams, one showing the new demand for consoles, and the other showing demand for mobile games

Unit 1: Are flood defences a public good?

They are often cited as an example. This clip from Aljazeera allos you to judge for yourself

http://www.youtube.com/watch?v=sIaIH5GvkW0

a) Are these flood defences non-excluable?
b) Are these flood defences non-rival?
c) So, are these flood defences a pubic, quasi-public or private good?

Unit 2: Key terms glossary

........from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-key-term-glossary?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:14:52:59Z

Unit 1: Allocative efficiency in the music market

It seems the relentless rise of digital music is not only effecting the UK, according to the BBC

http://www.bbc.co.uk/news/business-20908845#

a) In what way does this story illustrate the concept of allocative efficiency ?

Unit 2: Entreprenneur loan scheme: A supply side imitiative

...according to Ch4 and the BBC

http://www.channel4.com/news/government-loan-scheme-to-encourage-entrepreneurs Ch4
http://www.bbc.co.uk/news/business-20898978# BBC

a) Comment on the success of the policy so far and its likely future success in th efuture

Unit 1: Allocative efficiency in Cambridge

As the popularity of going to the pub continues to decline and pubs close, it's intersting to see the new uses they are put to. Examples in Cambridge include pubs demolished and conversions to restaurants and estate agents. This latest proposal is for conversion to student flats

http://www.cambridge-news.co.uk/News/Future-of-two-more-pubs-hangs-in-balance-02012013.htm

a) Why is this an example of allocative efficiency in the market?

Unit 2: The multiplier effect of Swansea being in the premier league

You can work it out from the data in this report from the BBC

http://www.bbc.co.uk/news/uk-wales-south-west-wales-20895147

Unit 1: Information failure in the cosmetic surgery market?

It appears so from this Ch4 report

http://www.youtube.com/watch?feature=player_embedded&v=SWmir7gALQ0

a) In what way is there information failure in the market?
b) Comment on the likelyhood that the suggested regulations would reduce the market failure
c) Comment on the likely success of an alternative strategy that the government could implement

Unit 2: Macroeconomic data

Thanks to tutor2u for these charts

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-eight-chart-assignment-on-the-uk-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:41:52Z

and these on the key macro indicators

http://www.tutor2u.net/blog/index.php/economics/comments/prospects-for-the-uk-economy-in-2013?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:12:22:15Z

Unit 1: Tradable (pollution) permits scheme for CO2 emissions starts in California

....reports the BBC

http://www.bbc.co.uk/news/world-us-canada-20883751#

Unit 1: Allocative effficiency at Sony

...where the BBC reports they are stopping the production of the PS2 to move resources to the rumoured forthcoming PS4

http://www.bbc.co.uk/news/technology-20875176#