Unit 1: The effect of rising fuel costs on a haulage firm

This BBC report makes it clear

http://www.bbc.co.uk/news/business-12135523

a) Using a S&D diagram, show the effect of rising fuel costs on the haulage market
b) if the firm is "no longer able to pass on the increased costs" how does the firm survive? How would this change your diagram?

Unit 1: Why world food prices are rising

From the BBC and Ch4 video explanations

http://www.bbc.co.uk/news/business-12124632 BBC
http://www.channel4.com/news/world-food-prices-hit-all-time-high Ch4

Anforme has a blog post on the topic including a nice graphic

http://www.anforme.co.uk/blog/?p=1783

a) Using a S&D diagram, explain why world food prices are rising. (Hint: If you can't do this, then the answer is on this economicshelp post http://www.economicshelp.org/blog/economics/food-inflation/ )

b) Using a S&D diagram, explain why the price of cotton clothes are likely to rise

Unit 1: Repairing potholes: An activity with positive externalities?

Thanks to econoimicshelp for this

http://www.economicshelp.org/blog/economics/no-money-for-potholes/

a) Define positive externalities
b) What are the positive externalities associated with pot hole repair?
c) Comment on the suggestion that repairing potholes is a merit good

Unit ": Which products does the UK have a trade suplus in

Thanks to tutor2u for these interesting stats

http://www.tutor2u.net/blog/index.php/economics/comments/economics-qa-does-the-uk-economy-achieve-a-trade-surplus-in-anything/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:10:01Z

Unit 2: Jan 2011 macro data

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/economics/uk-economy-2011/

Unit 2: The rising cost of unemployment to the government

Sky news reports the rising cost of unemployment to the UK

http://news.sky.com/skynews/Home/Politics/Rising-Unemployment-Will-Cost-An-Extra-14bn-According-To-The-Office-For-Budget-Responsibility/Article/201101115878715?f=rss

Unit 1: Organ donation; a merit good?

Do people fail to donate organs when they die due to information failure? There are certainly positive externalities from organ donation and so governments encourage people to sign up to the organ donation register, but few countries say you have to opt out of donating rather than opting in

These articles raise the issues concerned with organ donation and the latest government nudge for people to sign up

http://www.bbc.co.uk/news/health-12097225 article on new "nudge"
http://www.bbc.co.uk/news/health-12098396 video on new "nudge"
http://www.bbc.co.uk/news/health-12097992 the debate
http://www.uktransplant.org.uk/ukt/newsroom/statements_and_stances/statements/opt_in_or_out.jsp the debate in detail
http://www.bbc.co.uk/news/health-11717150 the impact
http://www.bbc.co.uk/news/health-11688102 the need
http://www.bbc.co.uk/news/health-10786211 an alternative approach


a) To what extent do you believe organ donation to be a merit good?
b) Discuss the likely impact of the new measure on increasing donation levels
c) Discuss whether alternative strategies might be more successful in increasing donation levels

Unit 1: More restrictions on smoking in Spain......and a great article on restrictions around the world

Articles from the BBC on tougher regulations on smoking in Spain

http://www.bbc.co.uk/news/world-europe-12056524
http://www.bbc.co.uk/news/world-europe-12104056

and a great interactive summary of actions around the world

http://www.bbc.co.uk/news/world-11845158

a) Discuss whether the regulatory actions taken in Spain and around the world are likely to reduce the consumption of cigarettes

Unit 1: How to reduce consumption of "unhealthy" food?

The BBC and Sky report a new initiaive from the government

http://www.bbc.co.uk/news/health-12104278 BBC video
http://www.bbc.co.uk/news/health-12099867 BBC article

http://news.sky.com/skynews/Home/Politics/Food-Vouchers-From-Mars-Nestle-Asda-Weight-Watchers-And-More-To-Encourage-Healthier-Eating/Article/201101115877805?f=rss

a) To what extent do you think this initiative will reduce the negative externalities associated with the excessive consumption of high fat/sugar/salt foods?

Unit 1: The social cost of alcohol

An interesting post from the BBC

http://www.bbc.co.uk/news/health-12094800

Unit 2: The personal costs of unemployment

A sobering report from the BBC

http://www.bbc.co.uk/news/health-12087916 video
http://www.bbc.co.uk/news/business-12086055 article

Rising fuel taxes and increasing crude oil prices reported by the BBC

http://www.bbc.co.uk/news/business-12102329

a) Using a S&D diagram, explain the effect on the petrol market of these 2 events

Unit 1: Italy introduces a plastic bag ban

The BBC reports the introduction of a ban

http://www.bbc.co.uk/news/world-europe-12097493

a) How if the free market failing?
b) What sort of action is the government introducing?
c) Comment on the likely success of such a ban in reducing the market failure

Unit 2: The costs of unemployment

A good summary from tutor2u, including data

http://www.tutor2u.net/blog/index.php/economics/comments/revision-consequences-of-unemployment/

Unit 1: The rise in demand for Harris tweed

Sky reports the resurgence in demand for Harris tweed

http://news.sky.com/skynews/Home/Business/Harris-Tweed-Sales-Soar-Despite-Downturn-And-Pressure-On-Consumer-Spending/Article/201012315863849?f=rss

a) Using economic theory, explain why demand for harris tweed has risen

Unit 1: How do you increase demand for onions in Japan?

....well this is how they do it

http://www.bbc.co.uk/news/world-12037155

Unit 2: Latest UK macroeconomic data

Thanks to tutor2u for this

http://www.tutor2u.net/economics/presentations/ukecondec10/player.html

Unit 1: Tradable permit carbon trading scheme set up in California

From the BBC

http://www.bbc.co.uk/news/world-us-canada-12016137

a) Discuss how successful you think this scheme will be in educing CO2 emissions in California

Unit 2: Inflation: EU resource

Thanks to turo2u for pointing out this great resource on most aspects of inflation

http://ec.europa.eu/economy_finance/focuson/inflation/index_en.htm

Unit 1: The sharp rise in the price of heating oil

A really good clip from the BBC

http://www.bbc.co.uk/news/uk-12009112

a) Using a S&D diagram, explain why the price of heating oil has risen so rapidly
b) What do you think will happen to the price in 3 months time? Explain your answer

Unit 2: USA unemployment data

Latest figures

http://www.bbc.co.uk/news/business-11996435

a) Comment on the UK's unemployment problem in the light of these figures

Unit 2: December 2010: Rising unemployment hits 2.5 million

Latest unemployment data and commentary

http://news.sky.com/skynews/Home/Business/The-Number-Of-People-Out-Of-Work-Rises-Above-25-Million-In-The-Three-Months-To-October/Article/201012315855647?f=rss Sky
http://www.channel4.com/news/unemployment-rises-to-2-5-million Ch4
http://www.bbc.co.uk/news/business-11998364 BBC

a) How equal are the effects of unemployment in the UK economy?

Unit 2: Inflation at 3.3%

A nice clip from the BBC showing why inflation has risen.....again

http://www.bbc.co.uk/news/uk-11993210

a) Why is inflation only 3.3% if food prices are rising by 5% and alcohol by 10%?

Unit 1: Subsidies for electric cars

The BBC reports subsidies to buyers of electric cars

http://www.bbc.co.uk/news/technology-11993882

a) Analyse the likely effect of the subsidy on the market
b) Comment on the assertion that this subsidy is likely to kick start the market for electric cars in the UK

Unit 1: BA increases long haul fares

.....reports sky

http://news.sky.com/skynews/Home/Business/British-Airways-Blames-Higher-Oil-Price-For-10-Increase-In-Long-Haul-Fuel-Surcharge/Article/201012215854078?f=rss

a) Using a S&D diagram, why they have increased the price
b) Comment on the extent to which this will decrease demand for these flights

Unit 2: Rising inflation rate in China

As reported by the BBC

http://www.bbc.co.uk/news/business-11975628

a) What does the inflation rate measure?
b) What is the most likely cause of the rising Chinese inflation rate?
c) Why is it suggested that interest rates will rise?

Unit 1: Externalities associated with a new dam in Laos

An interesting clip from the BBC

http://www.bbc.co.uk/news/business-11960537

a) What are the positive and negative externalities associted with the dam?

Unit 1: The rising price of petrol

Petrol hits an all time high claims the BBC and Sky

http://www.bbc.co.uk/news/business-11968437
http://www.bbc.co.uk/news/uk-11957664
http://news.sky.com/skynews/Home/Business/Fuel-Costs-In-Britain-Hit-Record-Levels-With-Unleaded-Costing-An-Average-Of-12176p-A-Litre/Article/201012215851065?f=rss Sky

a) Using a S&D diagram, explain the cause of this price rise

Unit 1: Falling demand at HMV

HMV looks to be in long term decline

http://news.sky.com/skynews/Home/Business/HMV-Confirms-Plunging-Sales-And-Wider-Pre-Tax-Losses-As-Christmas-Trading-Hit-By-Snow/Article/201012215850428?f=rss

a) Using demand theory, explain the reason for the short term fall in demand at HMV and the reasons for the longer term decline

Unit 1: Asprin; a merit good?

The latest news on the potential power of asprin from the BBC

http://www.bbc.co.uk/news/health-11933781 video
http://www.bbc.co.uk/news/health-11930988 article

a) To what extent does this this extract suggest asprin is a merit good?
b) If it is a merit good, how does the market fail?
c) What actions could the government take to reduce this market failure?
To what extent do you believe the government can reduce the market failure?

Unit 1: Allocative efficiency: The changing highstreet

A nice BBC clip

http://www.bbc.co.uk/news/business-11924207

and this data

http://www.bbc.co.uk/news/magazine-11915437

a) Explain how the clip and article shows the concept of allocative efficiency in action

Unit 1: Rising demand for heroin in the Punjab and the resulting negative externalities

A disturbing clip from the BBC

http://www.bbc.co.uk/news/world-south-asia-11920796

a) Using economics, explain the reason for the rising demand for heroin in the pujab
b) What negative externalities arise from this drug use?

Unit 2: Economic growth to slow in 2011?

An interesting clip from the BBC

http://www.bbc.co.uk/news/business-11920882

a) Using the AD formula, explain why growth is expected to slow next year

Unit 2: Comparative unemployment figures

Latest comparative figures from the EU

http://www.bbc.co.uk/news/business-11872469

and the USA

http://www.bbc.co.uk/news/business-11913196

a) Given the figures, how much of a problem is the UK unemployment rate for the government?

Unit 1: Reducing negative externalities from ill health

Here's the new coalition plan

http://www.bbc.co.uk/news/health-11878873

a) Th what extent do you think the "nudge" strategy will reduce the cost to the NHS for alcohol and obesity (just under £7bn a year, he said)?

Unit 1: Increased excise duty on super strenght lager

The BBC reports that higher alcohol taxes are on the way on super strenght lager

http://www.bbc.co.uk/news/uk-politics-11879061

a) To what extent is this likely to reduce the negative externalities asociated with their consumption (Use a diagram in your answer)

Unit 2: The costs and benefits of economic growth

This link will take you to a page where there are 6 videos all following the transformation (or obliteration) of a Chinese village into a city....a huge, growing city. The pros and cons of economic growth are clear to see

http://news.bbc.co.uk/1/hi/programmes/world_news_america/9248873.stm

Unit 2: Economic growth in India

A good BBC clip

http://www.bbc.co.uk/news/business-11873344

a) Using the AD formula, explain the recent growth in India
b) To what extent do you believe such growth is likely to continue in the future

Unit 1: Recycling and associated positive and negative externalities

An interesting story form BBC Wales about a proposed waste recycling plant

http://www.bbc.co.uk/news/uk-wales-11906046

a) Explain the positive and negative externalities that could result from this recycling plant

Unit 1: AS microeconomics and macroeconomics key terms tests

Useful self-test tools from tutor2u

http://www.tutor2u.net/economics/quiz/asmicrorevbank/quiz.html micro
http://www.tutor2u.net/economics/quiz/asmacrorevbank/quiz.html macro

Unit 2: What is a recession?

Thanks to tutor2u for this witty Australian explanation of what a recession is

http://www.youtube.com/watch?v=_I4yBNkap78&feature=player_embedded

Unit 2: The unequal effect of unemployment: Rising long term youth unemployment

Sky news and the BBC report rising long term youth unemployment

http://news.sky.com/skynews/Home/Business/Unemployed-16-To-24-Year-Old-Numbers-Up-Fourfold-Since-Recession-Long-Term-Dole-Claimants-Surge/Article/201012115845007?f=rss

http://www.bbc.co.uk/news/uk-11893117

The bBC reports how much harder the diabled are hit by unemployment

http://www.bbc.co.uk/news/uk-11879198

a) To what extent should the government be worried by these figures?

Unit 1: The falling demand for Christas cards

Thanks to tuor2u for this article

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-sales-of-christmas-cards-plummet/

a) I don't think the price of Xmas cards has fallen despite the fall in demand. Use a S&D diagram to explain why this might be the case

Unit 1: More controls on cigarettes?

A first! An article from the Cambridge News! This is about proposed changes to selling cigarettes

http://www.cambridge-news.co.uk/Home/Hiding-cigarettes-would-do-no-good-and-hit-small-shops.htm

a) What is the market failure associated with cigarettes
b) What sort of government action is being proposed?
c) To what extent do you think the market failure would be reduced if the proposals were implemented

Unit 1: Sewer buiding and negative externalities

An interesting video from the BBC

http://www.bbc.co.uk/news/uk-england-london-11806512

a) In what way does the video show the problems of negative externalities in the free market?

Unit 2: GDP and GDP growth data

From CNN comes this intersting graphic showing GDP size and GDP growth for the G20 countries

http://money.cnn.com/news/economy/g20/interactive/index.html

Unit 1: Food as a demerit good?

Thanks to tutor2u for this link to some really calorific foods

http://him.uk.msn.com/in-the-know/photos.aspx?cp-documentid=155233809

a) Why might these foods be thought of as being examples of demerit goods?

Unit 2: Latest Unemployment and inflation figures: Nov 2010

Thanks to anforme for their analysis

http://www.anforme.co.uk/blog/?p=1703 unemployment
http://www.anforme.co.uk/blog/?p=1695 inflation

Unit 2:" Inlation is higher for the elderly" claim

The BBC reports the story

http://www.bbc.co.uk/news/business-11733748

a) Comment on the significance of this story on the impact of inflation on the UK economy

Unit 2: The causes of current (Nov 2010) and future inflation in the uk

This BBC video lets you hear the reasons from the horses mouth as Mervyn King explains

http://www.bbc.co.uk/news/business-11726275

a) What type of inflation is the UK currently experiencing? Explain your answer
b) Explain why inflation in the future
i) might rise
ii) might fall
c) To what extent is an inflation rate 1% above target a problem for the UK economy

Unit 2: Supply side policies to help the unemployed

This video clip shows what happens in Brixton once you have been unemployed for 12 months

http://www.bbc.co.uk/news/uk-politics-11719668

and in Wolverhampton

http://www.bbc.co.uk/news/uk-11731634

and the new government policy is explained here

http://www.bbc.co.uk/news/uk-11732186

a) Discuss the likely success of such schemes in reducing unemployment in the UK

Unit 1: Pricing Wales rugby tickets

Despite being the world's top rugby nation (don't go by rankings and results) Wales failed to sell out the millenium stadium last Saturday

http://www.bbc.co.uk/news/uk-wales-11707900

a) Using a S&D diagram, explain why there were so many empty seats
b) Explain a policy the Welsh Rugby Union should follow to ensure a full stadium for every fixture and comment on the likely success of the policy

Unit 2: Compulsory work placement; a supply side policy?

This BBC clip shows the latest coalition proposal to get people off benefits and back in to work

http://www.bbc.co.uk/news/uk-politics-11705086

a) How is this an example of a supply side policy?
b) To what extent do you think such a policy would succeed in reducing unemployment?

Unit 2: GDP and the quality of life

I always like to highlight the limitations of GDP as an indicator of the quality of life. This economicshelp post highlights the major issues in the discussion

http://www.economicshelp.org/blog/economics/quality-of-life-indicators/

Unit 1: Increasing airport tax

Look at the table in this Ch4 article

http://www.channel4.com/news/ba-boss-airport-tax-will-damage-uk-economy

a) Suggest 2 reasons why the government has inreased these taxes
b) Using the concept of PED, explain why there is such a difference in the increases

Unit 2: Graduate unemployment rising...again

A deeply depressing article and video from the BBC showing the burden of unemployment being borne unequally in the economy

http://www.bbc.co.uk/news/education-11652845 article
http://www.bbc.co.uk/news/business-11667290 video

Unit 1: Elasticity in the tablet computer market

An interesting clip from the BBC on competition in the tablet computer market

http://www.bbc.co.uk/news/technology-11665362

a) Explain why all of these products would not have the same PED value
b) Which would have the most inelasic demand? Why?
c) Would the income elasticity of demand for these products be positive or negative? Why?
d) How could you use the concept of cross ED in this market?

Unit 2: tutor2u presentation on unemployment

http://www.tutor2u.net/economics/presentations/a2economics/macro/UnemploymentUK/default.html unemployment

Unit 2: tutor2u presentation on measuring inflation

http://www.tutor2u.net/economics/presentations/a2economics/macro/InflationMeasurement/default.html inflation

Unit 2: How inflation is measured in the USA

Thanks to tutor2u for pointing out this graphic showing the weights of the different sections of the US CPI index

http://www.nytimes.com/interactive/2008/05/03/business/20080403_SPENDING_GRAPHIC.html

Unit 2: Supply side policies announced by government

Sky news reports (with video) the launch of centres to link universities to industry

http://news.sky.com/skynews/Home/Technology/David-Cameron-Announces-200m-Hi-Tech-Hub-Network-Advanced-Manufacturing-Research-Centre-Rotherham/Article/201010415772325?f=rss

This BBC clip shows the announcement of a national infrastructure plan

http://www.bbc.co.uk/news/business-11619093

a) In what way are these supply side policies?
b) Using an AD/AS diagram, discuss the likely effect of these policies on the UK economy

Unit 1: Negative externalities from youth alcohol consumption

A nice clip from the BBC

http://www.bbc.co.uk/news/health-11611522 video
http://www.bbc.co.uk/news/health-11605549 article

a) Discuss how successful restrictions on the consumption of alcohol are in reducing the negative externalities associated with its consumption

Unit 1: How changes in fashion can effect demand and price

Thanks to tutor2u for posting this clip from the Hudsucker proxy showing how changes in taste and fashion can effect demand
http://www.tutor2u.net/blog/index.php/economics/comments/economics-at-the-movies-hudsucker-proxy-and-consumer-demand/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:19:33:00Z

Unit 1: Spains tough anti-tobacco laws

This BBC clip reports that Spain is set to restrict smoking

http://www.bbc.co.uk/news/world-europe-11593698

a) Explain, using economic terms, why Spain is enforcing these restrictions
b) Explain using a diagram, how the restrictions should reduce the market failure
c) Discuss the extent to which the policy is likely to succeed

Thanks to tutor2u for this brilliant clip showing division of labour/specialisatioin and a whole lot more!

http://www.tutor2u.net/blog/index.php/economics/comments/economics-at-the-movies-manufactured-landscapes/

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/picturenomics-1-congestion-and-externalities/

a) Look at the picture and list all the negative externalities you can see

Unit 1: Government spending and alternative cuts

A great graphic from the Guardian allowing you to select what spending you would cut

http://www.guardian.co.uk/politics/interactive/2010/oct/19/comprehensive-spending-review-cuts

Unit 1: Increasing demand for Harris Tweed

Strange as it may seeem, Sky reports increasing demand for Harris Tweed

http://news.sky.com/skynews/Home/Business/Doctor-Whos-Matt-Smith-Credited-With-Making-Tweed-Cool-As-Harris-Tweed-Collaborates-With-Topman/Article/201010315760483?f=rss

a) Using a diagram, explain the causes and consequences of this increased demand for Harris Tweed

Unit 1: The impact of subsidies on the quantity demanded

A post from the BBC which clearly shows the impact of subsidies on the quantity demanded

http://www.bbc.co.uk/news/business-11549448

a) Using a S&D diagram, explain how the withdrawl of the subsidy (ie the scrappage scheme) has effected the market

Unit 2: The output gap

Thanks to tutor2u for posting this link to the Washington post; a great graphic to explain the output gap

http://www.washingtonpost.com/wp-srv/business/the-output-gap/index.html

Unit 1: £100,000 for a bottle of whisky!!!!!!!

From the Guardian comes this tale of an astranomical price for a bottle ow whisky

http://www.guardian.co.uk/business/2010/oct/14/whyte-mackay-malt-record-price

a) Usins a S&D diagram, explain why the price of this whisky is so high

Unit 2: Unemployment: September 2010

A nice summary from Anforme

http://www.anforme.co.uk/blog/?p=1584

a) In what way are these figures (i) good and (ii) bad news for the British economy?

Unit 1: Snowfall and the economic problem

Thanks to tutor2u for this post illustrating the economic problem

http://www.tutor2u.net/blog/index.php/economics/comments/bad-snow-fall-in-london/

Unit 1: The elasticity of demand for a University education

Thanks to tutor2u for this post

http://www.tutor2u.net/blog/index.php/economics/comments/lifting-the-cap-on-tuition-fees-a-question-of-price-elasticity/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:04:56:01Z

a) Discuss whether the demand for a University education is likely to be elastic or inelastic

Unit 1: Negative externalities: Hungary's toxic mud

These BBC clips shows the effect ot the breaching of a toxic sludge resevoir

http://www.bbc.co.uk/news/world-europe-11482313
http://www.bbc.co.uk/news/world-europe-11472785

a) Explain the negative externalities associated with this story

Unit 2: Consumption and savings

Thanks to tutor2u for this resource on what determines the level of consumption and savings

http://www.tutor2u.net/blog/index.php/economics/comments/video-resources-on-consumption-and-saving/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:00:00Z

Unit 1: Cuba moves towards a mixed economy

Thanks to tutor2u for this summary of the changes afoot in Cuba (Use the hyperlinks)

http://www.tutor2u.net/blog/index.php/economics/comments/castros-command-move-to-a-mixed-economy/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:15:16:00Z

a) Explain how the plans mean Cuba's economy will become more like the mixed model

Unit 1: The end of cheap cotton clothes?

An interesting article and video from Sky news suggesting the price of cotton clothes is set to rise

http://news.sky.com/skynews/Home/Business/Cotton-Price-Cost-Hike-Could-Mean-End-Of-Cheap-Clothing-As-Bargain-Chains-Raise-Shop-Prices/Article/201009415743868?f=rss

a) Using a S&D diagram, explain why the price of cotton clothes is due to rise
b) Comment on the staement that low price chains such as Primark may be hit disproportionatelt by this rise in the price of cotton

Unit 1: Increasing demand for pies in the UK

An interesting article from Sky news

http://news.sky.com/skynews/Home/Sales-Of-Pies-And-Pasties-Rise-In-Recession-Says-Mintel-Research/Article/201009315732750?f=rss

a) What type of good would pies and pastries appear to be? Explain your answer

Unit 2: How to alter your exchange rate

This BBC clip explains how the Japanese cental bank intervened in the market to force down the value of the Yen

http://www.bbc.co.uk/news/business-11310620

a) Why did the central bank intervene?
b) Using a S&D diagram, explain how they manipulated the value of the Yen downwards (ie a depreciation)

Unit 2: UK inflation in Sept 2010 at 3.1%

The BBC explains why inflation remains above target

http://www.bbc.co.uk/news/business-11299602 video
http://www.bbc.co.uk/news/business-11294957 article

....as does anforme (with a graph)

http://www.anforme.co.uk/blog/?p=1533

Unit 1: Litter

An ITV documentary: It may only be available for 7 days; we'll see

http://video.stv.tv/bc/catchup-tonight-20100909-part1/

Unit 1: The price of coffee

Thanks to tutor2u for directing me to this article

http://www.dailymail.co.uk/news/article-1311303/Cost-morning-latte-set-soar-devastating-crop-shortages.html

a) Using a S&D diagram, explain why the price of coffee is set to rise

Unit 1: House Prices Down Again As Supply Rises

An article from Sky news

http://news.sky.com/skynews/Home/Business/House-Prices-In-August-Suffer-Most-Widepread-Falls-Since-May-2009-As-Supply-Increases/Article/201009215727490?f=rss

a) Using the information in the first paragraph, draw a S&D diagram to show why house prices have fallen

Unit 2: UK's worst ever trade deficit

Tales of woe fron Sky news

http://news.sky.com/skynews/Home/Business/UK-Trade-Deficit-Surge-In-Oil-And-Chemical-Imports-Widens-Gap-To-New-Record/Article/201009215723952?f=rss

a) What is meant by a trade deficit?
b) Why has it worsened?

Unit 2: Interest rates: What are they and how do they work in the economy

A nice video from the BBC

http://www.bbc.co.uk/news/business-11238317

Unit 2: The shrinking Greek economy

A useful article from the BBC explaining the shrinking Greek economy

http://www.bbc.co.uk/news/business-11229042

a) Using the Aggregate demand formula, explain why the Greece's GDP is falling

Unit 1: The price of wheat

The drought continues in Russia according to this BBC video

http://www.bbc.co.uk/news/business-11202745

a) Using a S&D diagram, explain the likely effect on the world price of wheat by the reduced Russian harvest/Russian export ban
b) Using a S&D diagram, explain the likely effect of this on the price of products that have wheat as a major component (eg bread, cornflakes, beef etc)

Unit 2: Why have a spending review?

A nice summary from the BBC

http://www.bbc.co.uk/news/business-10810962

Unit 2: Macroeconomic introduction

A brilliant introduction to the UK macroeconomy from tutor2u

http://www.tutor2u.net/economics/presentations/ukeconsep2010/player.html

Unit 2: Australia's economic growth

The BBC reports strong economic growth in Australia

http://www.bbc.co.uk/news/business-11154030

a) Explain why interest rates might rise as a consequence of this strong growth in the Australian economy

Unit 1: Negative externalities associated with alcohol

Another clip from the BBC outlining some of the negative externalities associated with alcohol

http://www.bbc.co.uk/news/health-11155591

Unit 1: Demand for amour plated cars in Mexico

A nice clip from the BBC

http://news.bbc.co.uk/1/hi/programmes/world_news_america/8955232.stm

a) Using demand theory, explain the rise in demand for amour plated cars in Mexico
b) Show the effect of this on a demand diagram

Unit 1: Information failure in 3 markets

3 stories from the BBC that may indicate information failure for consumers

http://www.bbc.co.uk/news/health-10986625 chocolate
http://www.bbc.co.uk/news/health-10986617 beer for women
http://www.bbc.co.uk/news/health-10987937 sunbed use

a) What is the market failure that results from information failure?
b) How would an economically rational consumer change their behaviour if theyrecived this information?
c) What problem would a consumer face when deciding how to behave with this additional information?

Unit 1: Food price rises associated with Ramadan in Bangladesh

A BBC clip explaining the food price rises associated with Ramadan in Bangladesh

http://www.bbc.co.uk/news/business-10999186

a) Using a S&D diagram, explain why the food prices have risen in the run up to Ramadan
b) Using a S&D diagram, explain why the food prices might rise further in Bangaladesh in the future

Unit 1: How Sandwell is tackling street litter

A nice clip from the BBC highlighting one approach to reducing street litter

http://www.bbc.co.uk/news/uk-11009694

a) Why is street litter an example of a negative externality?
b) What approach is Sandwell council using to reduce the negative externality?
c) What other approaches could they use?
d) Discuss how effective the zero tolerance policy will be for the council

Unit 2: How inflation effects people differently

This BBC clip clearly shows how the inflation rate hits people differently

http://www.bbc.co.uk/news/business-11005976

Unit 2: Inflation in the UK

Two clips from the BBC explaining some of the reasons why inflation is above target

http://www.bbc.co.uk/news/10994997
http://www.bbc.co.uk/news/business-11001524

a) Why is inflation above target?
b) Why is it likely to remain above target in 2011?
c) Given the information in the clip, explain what is happening to peoples real incomes

Unit 2: The state of the Japanese and Chinese economies in August 2010

A brilliant clip from the BBC containing loads of macroeconomic facts about the Japanese economy

http://www.bbc.co.uk/news/business-10985496

a) How is GDP measured by the expenditure (ie Agg Demand) measure?
b) Using the formula, explain the likely effect of the appreciating Yen on the Japanese economy
c) Explain why consumption and Investment are not growing in japan
d) Why are the very low interest rates in Japan not leading to the anticipated economic growth?
e) Given that the Japanese economy has grown by only 5% in 8 years whilst the Chinese economy has grown by 261% and moved above Japan into second place in the GDP league table (after the USA), explain why (economically) it's still better to be a citizen in Japan rather than in China

Unit 2: Cyclical and structural unemployment in the USA

Economicshelp has this good post explaining cyclical and structural unemployment in the USA

http://econ.economicshelp.org/2010/08/structural-unemployment.html