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#

Unit 2: Macroeconomic data for 2012

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/6641/economics/uk-economy-in-2013/

Unit 1: More information to try and get people to stop smoking

A new public information campaign is launched

http://www.bbc.co.uk/news/health-20856419# video
http://www.bbc.co.uk/news/health-20805059# article

The key statistic for me illustrating the information failure assosciated with smoking is that 50% of smokers will suffer a smoking related illness, but how does a smoker know which 50% they are in?

Unit 1: Rising pork prices

... appear to be on the way, report Sky, and rising costs are driving farmers out of the industry

http://news.sky.com/story/1031197/pig-farming-crisis-to-push-up-pork-prices

a) Using a S&D diagram, explain why pork prices are rising
b) Explain why pig farmers are leaving the industry ant tie this to the supply curve

Unit 1: The cost of parking in Hong Kong

........is on the rise according to Al Jazeera

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

a) Using S&D analysis, explain why the price of car parking spaces is rising in HK

Unit 1: The role of government in an economy

A brief clip of Joe Stiglitz explaining how income and wealth distribution in the USA has become more and more unequal

http://www.bbc.co.uk/news/world-us-canada-20836074#

Unit 1: Possible negative externalities from extending the Northern line

....report the BBC

http://www.bbc.co.uk/news/uk-england-london-20825528

Unit 1: The PED of fizzy drinks and fresh fruit

Thanks to tutor2u for this interesting story

http://www.tutor2u.net/blog/index.php/economics/comments/price-elasticity-of-demand-soft-drinks-vs-fruit-and-vegetables?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:55:50Z

Unit 2: Monetary policy in Japan

A really good clip from the BBC for evalauating the impact on the Japanese economy of more quantitative easing

http://www.bbc.co.uk/news/business-20801150#

and the associated article

http://www.tutor2u.net/blog/index.php/economics/comments/price-elasticity-of-demand-soft-drinks-vs-fruit-and-vegetables?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:55:50Z

Unit 2: Inflation at 2.7%

...according to the BBC

http://www.bbc.co.uk/news/business-20766392#

Unit 2: Nissan announces £250m investment

...in its UK operations, according to Ch4

http://www.channel4.com/news/nissan-to-create-1-000-jobs-for-uk-with-new-investment

a) Explain how this investment is likely to result in a larger multiplier effect on the UK economy

Unit 1: Shipping in the great barrier reef: A negative externality waiting to happen?

Great story from Aljazeera

http://www.youtube.com/watch?v=38A3XfIScRo

a) Why has the government intervened in the free market?
b) Comment on an alternative policy the government could employ and explai why this would be a worse course of action

Unit 1: Are goods containing vitamin D examples of merit goods?

Possibly, according to the BBC

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

a) Government  subsidies of foods with high levels of vitamin D would be the best method to reduce this market failure. Discuss the validity of this statement

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 2: UK unemployment falls by 82000

....reports the BBC

http://www.bbc.co.uk/news/business-20693505#

a) Is this what you expect with near zero growth in the UK?

Unit 1: Payday loans: A failing market that needs government intervention?

Apparently so as legislation is on the way

http://www.channel4.com/news/mps-to-take-action-on-payday-loans

Unit 1: Glossary of key terms

From tutor2u comes this comprehensive glossary. NB It contains more than is required for the OCR syllabus

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-markets-and-market-failure-concept-glossary

Unit 1: Hong Kong air pollution

Air pollution in Hong Kong; a classic case of negative externalities, according to Aljazeera

http://www.youtube.com/watch?v=HoljHRWg3pQ

Unit 1: Does fracking have negative externalities associated with it?

You decide

http://www.bbc.co.uk/news/uk-politics-20628264#

Oil production in Khazakstan may also result in negative externalities

http://www.bbc.co.uk/news/world-asia-20637581#

Unit 1: Should Australia build a natural gas liquification plant?

Plenty of debate in Australia, says Aljazeera

http://www.youtube.com/watch?v=JKtGRY4gkHY

a) Identify private costs, external costs. private benefits and external benefits associated with the project
b) On what basis should the Australian Government reject or accept this proposal?

Unit 2: Government spending 2011-12

2 great graphics from the Guardian

http://www.guardian.co.uk/news/datablog/2012/dec/04/government-spending-department-2011-12

http://www.guardian.co.uk/news/datablog/interactive/2012/dec/04/public-spending-uk-2011-12-interactive

Unit 1: Australia restricts cigarette packaging and Wales hide displays

...according to these articles found by tutor2u

http://www.youtube.com/watch?v=nOeeyS1naSU Aljazeera video
http://www.bbc.co.uk/news/world-asia-20564350 BBC video
http://www.guardian.co.uk/world/2012/dec/01/plain-packaging-australian-cigarette-tobacco article

and what happens to those packets that don't conform to the new law?

http://www.dailytelegraph.com.au/news/national/retailers-selling-cigarettes-cheap-to-beat-plain-packaging-rules/story-fndo2iwh-1226527725990

http://www.bbc.co.uk/news/uk-wales-20588795# Hiding displays video

a) Discuss the extent to which this new policy will reduce the market failure in the cigarette market

Unit 1: Minimum pricing and the end of multi-deals on alcohol

That's the plan, according to the Aljazeera and the BBC

http://www.youtube.com/watch?v=gBIRf_0AgBY Aljazeera
http://www.bbc.co.uk/news/health-20529380# video
http://www.bbc.co.uk/news/health-20522014# video
http://www.bbc.co.uk/news/health-20515918# article

Arguments in favour http://www.bbc.co.uk/news/uk-politics-20528547# (video)and http://www.bbc.co.uk/news/health-20528548# video


a) To what extent do you think these measures would reduce the market failure asociated with this demerit good?

Unit 2: Why hasn't unemployment risen higher in the recession?

Underemployment may be part of the answer

http://news.sky.com/story/1017769/uk-under-employed-total-hits-three-million Sky news article

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-underemployment-in-the-uk-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:01:31Z tutor2u post

This idea of fewer people being made redundant, but more people working fewer hours than they would like to would be a good point to develop for evaluating the current state of employment/unemployment in the economy

Unit 1: Information failure: Grapefruit!

Apotentially lethal example of information failure if you take certain medicines and eat grapefruit

http://www.bbc.co.uk/news/health-20497086#

a) What actions could the government take to reduce this market failure?

Unit 2: Is the Government's flagship supply side policy to reduce unemployment failing?

The early feedback isn't good

http://www.bbc.co.uk/news/uk-20507107# video

http://news.sky.com/story/1017110/welfare-to-work-scheme-misses-its-target Sky article

Unit 2: Why do countries have different growth rates?

An interesting post with good data from economicshelp

http://www.economicshelp.org/blog/6299/economics/what-explains-differences-in-economic-growth-rates/

Unit 2: Inflation and Unemployment resources

.....from tutor2u scoopit

http://www.scoop.it/t/as-macro-inflation-and-unemployment?sc_source=http%3A%2F%2Fwww.tutor2u.net%2Fblog%2Findex.php%2Feconomics%2Fcomments%2Funit-2-macro-revision-resources-on-inflation-and-unemployment%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Beconomics_news%2B%2528tutor2u%2BEconomics%2BBlog%2529%23When%3A19%3A36%3A16Z

Unit 1: The price of Twinkies

Would you pay $1000 for a box of revoltingly sweet cream cakes? Some people might according to Sky news

http://news.sky.com/story/1012920/soon-to-go-twinkies-snapped-up-for-1000

More on the background to the story from Ch4

http://www.channel4.com/news/america-says-goodbye-to-twinkies-ho-hos-and-ding-dongs

a) Using a S&D diagram, explain why a box of twinkies sell for for $1000
b) Using a S&D diagram, explain why this might be a short term phenomenon

Unit 1: Why are property prices so high in Hong Kong?

This clip from the BBC explains all

http://www.bbc.co.uk/news/business-20352103#

A) Using a S&D diagram, explain why HK property prices are rising (Hint: Be careful how you draw the supply curve)

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: Information failure: How much should you drink if you're pregnant?

It's unclear, according to this BBC clip

http://www.bbc.co.uk/news/health-20344601#

a) How is there an example of information failure in this case?

Unit 1: Increased demand for smartphones

....reports Sky news

http://news.sky.com/story/1011430/global-smartphone-sales-boom-by-47-percent

a) Using demand theory, explain the rapid increase in the demand for smartphones worldwide

Unit 1: The price of potatoes......and chips

.....are on the rise, according to the BBC

http://www.bbc.co.uk/news/business-20317781

a) Using a S&D diagram, explain why the price of potatoes is rising
b) Using a S&D diagram, explain why the price of chips will also be increasing

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 Nutella tax

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/the-nutella-tax-a-tax-on-negative-externalities

a) Using a diagram, explain the market failure associated with the consumption of Nutella
b) Using a diagram, comment on how succesful the propsed tax will be in reducing the market failure

Unit 1: Market failure Scoop it resource

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

Unit 2: AD and AS Pinterest resource

http://pinterest.com/geoffriley/aggregate-demand-and-aggregate-supply/

Unit 1: Denmark abandons the fat tax

...according to the BBC

http://www.bbc.co.uk/news/world-europe-20280863

This was the original policy

http://www.bbc.co.uk/news/world-europe-15137948

a) Why has Denmark abandoned this attempt to reduce the market failure caused by saturated tax?
b) Comment on the notion that this is the end of their campaign to reduce obesity

Unit 2: Causes of European unemployment

Thanks to economicshelp for this, including nice comparative data

http://econ.economicshelp.org/2009/05/european-unemployment.html

Unit 1: Negative externalities from building the 3 gorges dam

Many, according to the BBC

http://www.bbc.co.uk/news/world-asia-china-20176498

a) What are the negative externalities identified?
b) So why did the dam go ahead (Hint: Use ECONOMICS in your answer!)

Unit 2: Using mobile phones whilst driving: An example of a demerit good

I love the Australian approach, no mucking about according to this Aljazeera clip

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

a) What is the market failure arising from using mobile phones in cars?
b) To what extent do you think this new law will eliminate the market failure?

Unit 1: Poor wine harvests likely to push up the price of a bottle of wine

........according to this BBC article

http://www.bbc.co.uk/news/world-europe-20152231#

a) Using a S&D diagram, explain why the price of wine for UK consumers is likely to rise
b) Do you think all wines will rise by the same amount? Explain your reasonong

Unit 1: Carbon monoxide monitors: An example of merit goods?

In Northern Ireland new rules insist carbon monoxide monitors are fitted

http://www.bbc.co.uk/news/uk-northern-ireland-20156809#

a) Why are there monitors underconsumed in the free market?
b) What positive externalities do they produce?
c) To what extent do you think the new regulations will reduce the market failure(ie the cases of carbon monoxide poisoning)

Unit 2: Inequalitiy of income resulting from China's economic growth

3 clips from the BBC illustrating the problem

http://www.bbc.co.uk/news/world-asia-20174711#
http://www.bbc.co.uk/news/world-asia-china-20163802#
http://www.bbc.co.uk/news/world-asia-china-20149568#

Unit 2 EU unemployment data

Great bar chart in this Guardian article showing EU unemployment rates

http://www.guardian.co.uk/news/datablog/2012/oct/31/europe-unemployment-rate-by-country-eurozone

and BBC video

http://www.bbc.co.uk/news/business-20156970#

and BBC article

http://www.bbc.co.uk/news/business-20153497#

a) Discuss the extent to which unemployment is a problem in the EU (Make sure you use the data and make evaluative comments)

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

Unit 1: Rising demand for Chinese beer

....according to the BBC

http://www.bbc.co.uk/news/business-19753836#

a) Why has demand for beer risen in China and Thailand?

Unit 1 and 2: Should governments intervene in markets and the economy?

Nice summary from economicshelp

http://www.economicshelp.org/blog/5735/economics/should-the-government-intervene-in-the-economy/

Unit 2: The purpose of monetary policy

A nice summary from economicshelp

http://www.economicshelp.org/blog/5740/inflation/purpose-of-monetary-policy/

Unit 2: UK balance of payments

A fantastic summary of the topic, including up to date data, from economicshelp

http://www.economicshelp.org/blog/5776/trade/uk-balance-of-payments/

Unit 1: Changing demand for Dominos pizza

This Sky news article is a good example of the role of substitutes in demand

http://news.sky.com/story/989606/dominos-pizza-gets-big-summer-boost

a) Draw 2 demand diagrams to show the changing demand for pizzas; on-line and other methods

Unit 2: UK inflation data and stats

Another thanks to economicshelp

http://www.economicshelp.org/blog/5720/economics/inflation-stats-and-graphs/

Unit 2: UK unemployment data and stats

...thanks to economicshelp

http://www.economicshelp.org/blog/5695/stats/unemployment-stats-and-graphs/

Unit 1: Meat prices to rise

....reports Sky news

http://news.sky.com/story/987059/food-prices-to-soar-after-mass-animal-slaughter

a) Draw a S&D diagram to show the effects  of the drought on animal feed prices
b) Draw a S&D diagram to show the effects of this increase in animal feed prices on the price of pigs
c) Draw a S&D diagram to show the effects of the decision by farmers to slaughter more pigs on the price of pork in the short run
d) Draw a S&D diagram to show the effects of reduction in the number of pigs on farms  on the price of pork in the long run

Unit 1: Negative externalities from whisky production in the USA

Nice story from Aljazeera

http://www.youtube.com/watch?v=L2W_6QJ2S2I

a) What is the negative externality and why is it a negative externality?
b) Comment on the likely success of different approaches to solve the problem and reduce the market failure

Unit 2: Growth rates in selected countries

Thanks to tutoir2u for the word document in this post

http://www.tutor2u.net/blog/index.php/economics/comments/teaching-macro-data-on-real-gdp-growth-rates

Unit 2: Latest UK and EU unemployment data

UK from the BBC

http://www.bbc.co.uk/news/business-19574511#

and EU from economicshelp

http://www.economicshelp.org/blog/1247/economics/european-unemployment/

Unit 2: Latest position of the Australian economy

....isn't that clear, according to this BBC clip

http://www.bbc.co.uk/news/business-19472196#

Unit 1: Should a law be passed to make bars with a violent past srve beer in plastic containers?

.....you might think so having watched this

http://www.bbc.co.uk/news/uk-wales-19484560#

a) Explain how the free market explains in this case
b) Comment on the likelyhood that such a law would reduce the market failure

Unit 1: Banana prices to rise!

Anyone who knows me will understand my concern about this forthcoming hike in banana prices!

http://news.sky.com/story/980166/going-bananas-fruit-price-hike-warning

a) Using a S&D diagram, explain why banana prices are set to rise