Business cycle: Different shaped recoveries

 Thanks to econfix

https://econfix.wordpress.com/2021/09/24/v-u-z-w-l-recoveries-and-the-inverted-square-root-2/

Where does the government borrow from?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-50504151

UK inflation prospects

 Nice evaluation from economicshelp with good data

https://www.economicshelp.org/blog/166869/economics/prospects-for-inflation-in-2022/

Rising UK inflation reasons

 Thanks to the BBC

https://www.bbc.co.uk/news/business-58563417

...and C4

https://www.channel4.com/news/uk-inflation-sees-record-rise-as-price-of-food-soars

What is inflation and why does it happen?

 Thanks to CNBC

https://www.youtube.com/watch?time_continue=144&v=FMKMWBqy_EA&feature=emb_logo

Increased demand for surfing in China

 Thanks to the BBC

https://www.bbc.co.uk/news/av/world-asia-58552057?at_medium=RSS&at_campaign=KARANGA

Negative externalities from gas flaring in Nigeria

 Thanks to the BBC

https://www.bbc.co.uk/news/av/world-africa-58549010?at_medium=RSS&at_campaign=KARANGA

The effects of labour shortages

 Thanks to econhelp

https://www.economicshelp.org/blog/25536/labour-markets/labour-shortages/

Negative externalities from illegal gold mines

 Thanks to the BBC

https://www.bbc.co.uk/news/av/world-africa-58119653

Why arehouse prices so high?

 Thanks to econfix for this analysis

https://www.economicshelp.org/blog/8733/housing/uk-house-prices-high/

The impact of increasing the minimum wage in the USA

 Thanks to econfix for this analysis

https://econfix.wordpress.com/2021/09/01/us-minimum-wage-increase-does-it-mean-more-job-losses-2/

Leaded petrol: A great example of government action to reduce negative externalities

 Thanks to the BBC

https://www.bbc.co.uk/news/world-58388810

Key terms for unit 1 and unit 2

 No glossary is ideal, but if you want a starting point you can use these from tutor2u. Click the "download" button on each page

Unit 1 https://www.tutor2u.net/economics/reference/edexcel-alevel-economics-key-term-glossary-theme-1

Unit 2 https://www.tutor2u.net/economics/reference/edexcel-alevel-economics-key-term-glossary-theme-2

Declining negative externalities: Gay men can donate blood

 Thanks to the BBC

https://www.bbc.co.uk/news/av/uk-57469036

Traffic pollution and negative externalities

 Easy to see who the 3rd parties are in this BBC clip

https://www.bbc.co.uk/news/av/uk-57203122

The microchip market

 Rising demand and inelastic supply. Thanks to the BBc

https://www.bbc.co.uk/news/av/business-56943292

Diesel cars: The private and social cost of driving

 Thanks to econhelp for this

https://www.economicshelp.org/blog/166576/economics/pros-and-cons-of-charging-diesel-cars-for-driving-in-city-centres/

PED revision

 Nice summary from econfix

https://econfix.wordpress.com/2021/08/30/as-economics-price-elasticity-of-demand-2/

Mixed economy mindmap

 Thanks to econfix

https://econfix.wordpress.com/2021/08/22/as-economics-mixed-economy-mindmap/

Covid price increases

 Suply and demand in action , reports the BBC

https://www.bbc.co.uk/news/business-58372882

Sustainable growth

 An interesting BBC story. Could it be scaled up?

https://www.bbc.co.uk/news/av/world-europe-58320618?at_medium=RSS&at_campaign=KARANGA

Do hosting the Olympics provide a miltiplier effect?

  if this BBC clip is correct

https://www.bbc.co.uk/news/av/57919584

NZ business cycle

 Great diagram from econfix

https://econfix.wordpress.com/2021/08/24/can-the-new-zealand-economy-bounce-back-after-second-lockdown/

Fiscal poicy in NI

 

 £100 cards 'to be available in September' reports the bbc

https://www.bbc.co.uk/news/av/uk-northern-ireland-58012541

and

https://www.bbc.co.uk/news/uk-northern-ireland-58012540

What are interest rates?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-57764601

Sustainable brewing

 Thanks to the BBC

https://www.bbc.co.uk/news/av/world-australia-57675513

Where does the government borrow billions from?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-50504151

Capital intensive: Ocado

 Amazing!

https://www.youtube.com/watch?v=ssZ_8cqfBlE

Crazy UK holiday prices

 Thanks to the Guardian

https://www.theguardian.com/business/2021/jun/19/prices-are-ridiculous-uk-holiday-costs-more-than-europe-as-demand-grows

I imagine the prices will fall back next year as people revert to holidays overseas and so this could be an example of volatile prices resulting from a large increase in demand and price inelastic supply

Negative multiplier

 The first 10 minutes is a good example

https://www.bbc.co.uk/programmes/w3ct2g7k

The New Inflation Threat – Cost Push and Demand Pull – should we be worried?

 Thanks to econfix

https://blog.elearneconomics.com/the-new-inflation-threat-cost-push-and-demand-pull-should-we-be-worried/

Denmark increases its factors of production

 Thanks to the BBC

https://www.bbc.co.uk/news/world-europe-57348415

Where does the government borrow billions from?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-50504151

Fiscal policy in Northern Ireland

 A new voucher scheme is announced

https://www.bbc.co.uk/news/av/uk-northern-ireland-56949203

Government capital infrastructure spending

 Plans to re-open the Ulster canal will come to fruition

https://www.bbc.co.uk/news/uk-northern-ireland-56932303

Contrasting recovery from Covid in Q1 2021

Bad for the EU which is in recession

https://www.bbc.co.uk/news/business-56940720

Very good for the USA

https://www.bbc.co.uk/news/business-56932023

Biden's Covid stimulus plan

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56019033

and CNBC

https://www.cnbc.com/2021/01/14/biden-stimulus-package-details-checks-unemployment-minimum-wage.html

Sustainable growth

 Battery storage; a new approach

https://www.bbc.co.uk/news/av/uk-scotland-56833232

Budget 2021

 Thanks to Sky

https://www.channel4.com/news/budget-2021-spend-spend-spend-followed-by-aggressive-tax-hikes

and https://www.channel4.com/news/budget-2021-sunak-promises-giveaway-now-and-tax-hikes-later

Budget deficit and National debt figures April 2021

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56856195

and Sky

https://news.sky.com/story/covid-19-virus-fight-forces-government-borrowing-to-303bn-highest-level-since-records-began-12284388

How GDP per capita can vary within a country

 Nice data from NZ thanks to econfix

https://blog.elearneconomics.com/new-zealand-regional-gdp-and-gdp-per-capita-in-charts/

Tradable permits info and answer

 Thanks to tutor2u

https://www.tutor2u.net/economics/reference/carbon-emissions-trading-exam-question-walkthrough-for-edexcel-a-level-economics

Increase in Living (minimum) wage in the UK

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56594985

World Happiness report 2021

 It's Finland!

https://www.bbc.co.uk/news/world-europe-56457295

Organ donation presumed consent in Scotland

 Thanks to the BBC

https://www.bbc.co.uk/news/uk-scotland-56522628

March 2021 unemployment

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56493943

March 2021 inflation

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56502286

Covid GDP recovery in different countries

 Thanks to econfix

https://blog.elearneconomics.com/global-gdp-levels-june-2019-december-2020/

Consumer confidence index

 From gfk

https://www.retaileconomics.co.uk/retail-insights/gfk-consumer-confidence-index-january-2021 

and Trading Economics 

https://tradingeconomics.com/united-kingdom/consumer-confidence

Thorntons: Allocative efficiency in action

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56407155

Covid related Government Failure

 I blame Trump!

https://nypost.com/2021/01/26/oklahoma-trying-to-return-2-million-of-hydroxychloroquine/?utm_source=NYPTwitter&utm_medium=SocialFlow&utm_campaign=SocialFlow

Capitalism and socialism explained

 Thanks to the BBC

Capitalism: https://www.bbc.co.uk/ideas/videos/capitalism-is-it-here-to-stay/p06g9czp?playlist=the-a-z-of-isms

Socialism https://www.bbc.co.uk/ideas/videos/socialism-a-very-brief-history/p074yyff?playlist=the-a-z-of-isms

and Hayek's neoliberalism https://www.bbc.co.uk/ideas/videos/neoliberalism-the-story-of-a-big-economic-bust-up/p06ltnvp?playlist=the-a-z-of-isms

Keynes explained

 Thanks to the BBC

https://www.bbc.co.uk/ideas/videos/keynesianism-the-story-behind-this-key-economic-th/p06rg6ph?playlist=the-a-z-of-isms

Cut in electric car subsidy

 Reported by the BBC

https://www.bbc.co.uk/news/business-56441639

The pros and cons of globalisation

 Thanks to econfix

https://blog.elearneconomics.com/the-pros-and-cons-of-globalisation-2/

Rising flower prices

 Thanks to the BBC

https://www.bbc.co.uk/news/av/business-56408202

Changes in the basket of goods 2021

 Thanks to the BBC

https://www.bbc.co.uk/news/business-56395533

Pay people to scrap cars....

 .....and give them money to spend on public transport

https://www.bbc.co.uk/news/av/business-56373096

Fiscal Policy: Biden's $1.9 trillion stimulus

 Thanks to the BBC

https://www.bbc.co.uk/news/world-us-canada-56350463

Natural rate of unemployment

 Nice video from Marginal Revolution

https://www.youtube.com/watch?v=wiWursKR9Ao

Carbon trading: Tradable permits

 Good video explaining the system and its pros and cons

https://www.youtube.com/watch?v=FQSaoPPe2F0&t=190s&pbjreload=101

Excess supply of used cars

 As seen on this disused racetrack

https://www.bbc.co.uk/news/uk-england-northamptonshire-56104281

Why is the market in disequilibrium?

UK economy suffered record annual slump in 2020

 Latest UK data from the BBC

https://www.bbc.co.uk/news/business-56037123

and in comparison with other countries

https://www.bbc.co.uk/news/56042270

and Japan https://www.bbc.co.uk/news/business-56066065

What is GDP and how is it measured?

 Thanks to the BBC for this good summary

https://www.bbc.co.uk/news/business-13200758

What are negative interest rates?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-52772950

How interest rates affect inflation – flow chart

 Thanks to econfix

C:\Users\Family Jones\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\1XQI34U8\email.mht

Nutella and shrinkflation

 Thanks to, of all sources, the Sun!!!!

https://www.thesun.co.uk/money/13693339/nutella-shrink-jar-size-from-400g-to-350g/

GDP by country 2019

 Nice graphic

https://www.weforum.org/agenda/2020/10/global-economy-gdp-growth-covid-19

Measles as market failure?

 https://www.telegraph.co.uk/news/measles-in-samoa/

Inequality photos

 https://luxurylaunches.com/other_stuff/the-99-and-the-1-drone-photography-of-income-inequality-across-the-world.php

PPE provision: An example of Government Failure?

 https://twitter.com/ITVJoel/status/1339968870904459265/photo/1

How big should a motoring penalty be?

 Ask Jack Grealish!

https://news.sky.com/story/jack-grealish-england-and-aston-villa-star-given-nine-month-driving-ban-and-82k-fine-after-lockdown-crash-12162333

Sunak's announcements Nov 2020

 Thanks to Sky

https://news.sky.com/story/covid-19-key-points-as-rishi-sunak-sets-out-spending-review-12141860

Covid test maximum pricing in Greece

 https://www.ekathimerini.com/259668/article/ekathimerini/news/government-to-set-price-cap-for-covid-19-tests

Where does the government borrow from?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-50504151

Supply and demand in action: Electric cars and strawberries

Thanks to tutor2u for these examples.

Electric cars  https://www.tutor2u.net/economics/reference/markets-in-action-supply-and-demand-for-electric-vehicles?utm_medium=email&utm_campaign=CM_Econ_ElectricVehicles_231020&utm_content=CM_Econ_ElectricVehicles_231020+CID_ecb8d08158180509ba9e4cf07193c86b&utm_source=CampMonitor&utm_term=Economics%20of%20Electric%20Vehicles

Strawberries https://www.tutor2u.net/economics/reference/markets-in-action-supply-and-demand-for-strawberries?utm_medium=email&utm_campaign=CM_Econ_ElectricVehicles_231020&utm_content=CM_Econ_ElectricVehicles_231020+CID_ecb8d08158180509ba9e4cf07193c86b&utm_source=CampMonitor&utm_term=Economics%20of%20Strawberries

Rising UK, and especially youth, unemployment

 Thanks to the BBC

https://www.bbc.co.uk/news/business-54884592

AD components in China

 Thanks to econfix

https://blog.elearneconomics.com/china-looking-to-domestic-sector-to-maintain-growth/

Fishing: Tragedy of the commons

Thanks to econfix

https://blog.elearneconomics.com/fishing-tragedy-of-the-commons-2/

Government borrowing: All you need to know

 A clear explainer

https://commonslibrary.parliament.uk/coronavirus-government-debt-an-explainer/

Minimum wage in Geneva

 Thanks to the BBC

https://www.bbc.co.uk/news/world-europe-54745033

Inflation video

 Thanks to Economics Explained

https://www.youtube.com/watch?v=r7GzaLROW0E

Natural Monopoly

 Thanks to econfix

https://blog.elearneconomics.com/ncea-level-3-and-cie-a2-economics-natural-monopoly/

The CPI in NZ

 Thanks to econfix for an explanation of the latest changes in the basket of goods

https://blog.elearneconomics.com/changes-to-the-cpi-in-new-zealand-2020/

The case against Modern Monetary Theory

 Thanks to the FT

https://www.ft.com/content/bcb523c3-7448-4cd6-a2d2-69b8f13be8f3

Inflation: BBC summary

 https://www.bbc.co.uk/news/business-12196322

Flood defences in Venice

Thanks to tutor2u for finding

https://twitter.com/i/status/1313518898596253696 

Allocative efficiency: Bye bye cruise ships

 A nice example

https://www.reuters.com/article/us-health-coronavirus-turkey-ships/cruise-ship-dismantling-booms-in-turkey-after-pandemic-scuttles-sector-idUSKBN26N2MV

Where do governments borrow money?

 Thanks to the BBC

https://www.bbc.co.uk/news/business-50504151

Unemployment – Policies and Causes

 Great mind map from econfix

https://blog.elearneconomics.com/unemployment-policies-and-causes/

Stages of Economic Intergration

 Thanks to econfix

https://blog.elearneconomics.com/as-economics-economic-integration/

Public Debt: how much is too much

 Thanks to econfix

https://blog.elearneconomics.com/public-debt-how-high-can-it-go/

CPI infltion falls to 0.2%

 Partly due to the "Eat out to help out" scheme reports the BBC

https://www.bbc.co.uk/news/uk-54173658

Minimum wage and unemployment

 Thanks to econfix

https://blog.elearneconomics.com/does-a-higher-minimum-wage-mean-higher-unemployment-2/

UK economy continues recovery in July

 Good graph from the BBC

https://www.bbc.co.uk/news/business-54113948

NZ Terms of Trade data

Thanks to econfix
https://blog.elearneconomics.com/record-terms-of-trade-for-new-zealand-q2-2020/

Perfect competition mindmap

Thanks to econfix
https://blog.elearneconomics.com/a2-and-ncea-level-3-economics-perfect-competition-mindmap/

Recession recovery types

Thanks to econfix
https://blog.elearneconomics.com/v-u-z-w-l-recoveries-and-the-inverted-square-root/

Traditional v modern monetary theory

Thanks to econfix
https://blog.elearneconomics.com/modern-monetary-theory-vs-mainstream-monetary-theory-2/

Oligopoly and game theory

Thanks to econfix
https://blog.elearneconomics.com/oligopoly-game-theory-and-dominant-strategy/