AI replaces workers

 Thanks to the FT https://www.google.com/search?q=hp+to+shed+workers&oq=hp+to+shed+workers&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRifBdIBCDQ3NzJqMGozqAIAsAIA&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:2578f915,vid:dCHywZFade4,st:0

....and still container ships get bigger

 The latest

https://www.bbc.co.uk/news/av/uk-england-suffolk-58550645

Allocative efficiency in labour markets?

Thanks to the BBC
https://www.bbc.co.uk/news/business-53477395

The never increasing size of container ships

This is now the world's largest
http://www.bbc.co.uk/news/av/uk-england-suffolk-40362922/oocl-hong-kong-felixstowe-port-welcomes-world-s-biggest-ship

Allocative efficiency: The changing insurance market

Thanks to Sky
http://news.sky.com/story/swinton-insurance-to-axe-900-uk-jobs-as-84-branches-under-review-10851888

Allocative efficiency: The end of VCR production

Reported by Sky
http://news.sky.com/story/remember-vcrs-production-to-end-as-sales-slump-10509632
and the BBC
http://www.bbc.co.uk/news/uk-36896924
and
http://www.bbc.co.uk/news/magazine-36866470

Allocative efficiency: The end of VCR production

Reported by Sky
http://news.sky.com/story/remember-vcrs-production-to-end-as-sales-slump-10509632
and the BBC
http://www.bbc.co.uk/news/magazine-36866470

Pareto improvement

Thanks to economicshelp for this
http://www.economicshelp.org/blog/21435/economics/pareto-improvement/

Super size cruise liners: Why so big?

Lots of economics in this story from Sky
http://news.sky.com/story/1697334/harmony-of-the-seas-sails-into-southampton

Economic efficiency

Thanks to tutor2u for this summary
http://www.tutor2u.net/economics/reference/economic-efficiency-revision-presentation?utm_medium=email&utm_campaign=Economics%20daily%20digest%20Fri%2015th%20January%202016&utm_content=Economics%20daily%20digest%20Fri%2015th%20January%202016+CID_8f1c652e085ba9e45eb9bbf2fc87fc27&utm_source=CampMonitor&utm_term=Economic%20Efficiency%20Study%20presentations%20This%20is%20an%20updated%20revision%20presentation%20on%20economic%20efficiency%20in%20markets

Unit 1 Dynamic eficiency: Uber v black cabs

Nice summary from the FT




https://www.youtube.com/watch?v=6FpTnHkyh60


and the BBC


http://www.bbc.co.uk/news/technology-27733967

Unit 1: Bigger container ships leading to productive efficiency

Great clip from the BBC showing productive efficiency in sea transport

http://www.bbc.co.uk/news/uk-england-hampshire-20671374

Unit 1: Producive efficiency via larger lorries

A clip from the BBC that highlights the importance of not looking at economics in isolation

http://www.bbc.co.uk/news/uk-england-lincolnshire-20318649#

a) How would the introduction of these lorries in the UK increase productive efficiency?
b) Given this economic advantage, what wider reasons must there be for not allowing them on our roads?

Unit 1 Productive efficiency: Big lorries!

Nice clip from the BBC

http://www.bbc.co.uk/news/uk-england-lincolnshire-20318649

a) IN what way does this relate to the concept of productive efficiency?

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

The BBC reports the changing face of the high street

http://www.bbc.co.uk/news/business-12468346

...whilst Sky reports increasing on-line sales

http://news.sky.com/skynews/Home/Business/UK-Shoppers-Spent-51-Billion-Online-In-January-21-More-Than-Last-Year/Article/201102315936126?f=rss


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

Unit 1: Revision: Market failure and efficiency

A series of posts from Economic Student covering the basics

http://rapidrevision.co.uk/economics-student/2009/11/28/efficiency-and-market-failure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomicsStudent+%28Economics+Student%29 What is market failure and efficiency?

http://rapidrevision.co.uk/economics-student/2009/12/02/causes-of-market-failure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomicsStudent+%28Economics+Student%29 What are the causes of market failure?

Unit 2: Allocative efficiency: Pay as you go car insurance

The BBC reports that NU is abandoning its PAYG car insurance for young drivers

http://news.bbc.co.uk/1/hi/programmes/moneybox/7453546.stm

a) How does this decision reflect the economy becoming more allocatively efficient?

Unit 2: Efficiency; restructuring in the insurance industry

Two articles from the BBC seem to indicate that competition in the insurance industry is causing firms to seek greater economic efficiency

http://news.bbc.co.uk/1/hi/business/7440733.stm

http://news.bbc.co.uk/1/hi/business/7439589.stm

a) What type of efficiency will these job losses lead to?
b) Why are the 2 firms following this course of action?

Unit 2: Efficiency: Revision notes

Another good revision note from tutor2u on the idea of economic efficiency

http://www.tutor2u.net/blog/files/Revision_Efficiency_Types_Exam_Uses.pdf

Unit 2: Efficiency and competition: Elecctrolux relocate production to Poland

This Guardian article explains why the Swedish firm Electrolux has decided to relocate production to Poland from the UK

http://www.guardian.co.uk/business/2007/dec/14/manufacturing.ireland

a) State which type of efficiency will be improved by this move
b) Explain why this will be the case and the role of competiton in leading to this improved efficiency
c) What drawbacks does this aticle show there may be to making more efficient use of scarce resources