Unit 2: Evaluation in macroeconomics essays

A useful summary from economicshelp

http://www.economicshelp.org/macroeconomics/toolkit.html

Unit 1: New images on US cigarette packets

Thanks to tutor2u for this post; click on the link to the Washington Post to see the images that the US govt will force cigarette firms to put on packets

http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-us-ramps-up-cigarette-warnings/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:12:00Z

a) What sort of action is this by the US govt?
b) Why has it taken this action; ie what is the market failure in the cigarette market?
c) To what extent do yoy believe this action will reduce nthe market failure?

Unit 1: Drought hits the wheat crop

The BBC reports that the drought in parts of the UK will hit the wheat harvest

http://www.bbc.co.uk/news/uk-england-13793805

a) Using a S&D diagram, explain the likely effect on the price of wheat

Unit 2: Skills for the jobless

....and the latest data

http://www.bbc.co.uk/news/business-13779743

Unit 2: The uneven impact of inflation

....as reported by Ch4


http://www.channel4.com/news/poor-hit-hardest-by-4-5-per-cent-inflation-rate

Unit 2: Comparative inflation data

Thanks to timetric for this chart


http://byline.timetric.com/2011/06/14/the-uks-inflation-problem-rates-compared-internationally/

Unit 2: The unemployment problem

Thanks to economicshelp for this summary


http://econ.economicshelp.org/2011/06/unemployment-problem.html

Unit 2: Australian economy goes in to reverse

....according to the BBC

http://www.bbc.co.uk/news/business-13611595 video
http://www.bbc.co.uk/news/13611621 article

a) Give 2 reasons why Australia's growth has stalled
b) Why is it expected growth will resume in the next quater?

Unit 1: Cuba moves from central planning

...according to the BBC

http://www.bbc.co.uk/news/world-latin-america-13585353

a) In which way is this a move away from central planning?

Unit 1: Russian drinkers and price elasticity of demand

....appear to be drinking more beer and less vodka, depite tax increases according to the BBC

http://www.bbc.co.uk/news/13576896

a) In economic terms, what are beer and vodka?
b)Given the increase in price and fall in sales mentioned, do you believe the PED for beer to be elastic or inelastic?
c) Explain why this is the case using economic theory

Unit 2: Do tariffs work?

An intriguing answer form tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/do-tariffs-actually-reduce-imports/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:01:31:00Z

Unit 1: Overcoming information failure: Fuel consumption labels in the USA

Thanks to tutor2u for this

Would you buy a car knowing how much more (or less) than the average car you would spend on fuel? That's what's happening in the USA

http://money.cnn.com/2011/05/25/autos/new_fuel_economy_labels/index.htm?iid=HP_River

a) What is the market failure this action is trying to reduce?
b) To what extent do you think the policy will reduce the market failure?

Unit 1: Public and private goods; revision

A nice one sheet revision from tutor2u which can be accessed half way down this post

http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-revision-public-and-private-goods/

Unit 1: The external cost oif alcohol consumption

....continues to rise according to the latest figures from these BBC posts

http://www.bbc.co.uk/news/health-13559455 article, and
http://www.bbc.co.uk/news/health-13568846 video

a) Why is rising alcohol consumption a problem for the UK economy?
b) Using a S&D diagram, explain why thr free market in alcohol is failing
c) Comment on the ideaa that raising the price of alcohol would reduce this market failure

Unit 2: the state of the UK economy

Great post with data from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/macro-revision-putting-things-in-context/

Unit 2: Would the better life index be a more accurate measure of the standard of living than real gdp per capita?

Decide for yourself by following the links in this tutor2u post

http://www.tutor2u.net/blog/index.php/economics/comments/as-and-a2-macro-the-pursuit-of-happiness-and-the-better-life-index/

Unit 2 revision: supply side policies

A nice post from tutor2u, but not all of it is needed for OCR AS

http://www.tutor2u.net/blog/index.php/economics/comments/as-economics-revision-supply-side-policies/

Unit 1: More legislation to reduce smoking....in NY

A nice BBC clip

http://www.bbc.co.uk/news/world-us-canada-13538166

a) Why is NY banning smoking in parks?
b) Comment on the likelyhood that this ban will reduce the consumption of demerit goods like cigarettes

Unit 2: Inflation revision help

Three good posts from tutor2u on inflation :

http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-inflation/ on inflation,
http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-cost-push-inflation/ on causes and cures for cost push inflation, and
http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-key-term-demand-pull-inflation/ on causes and cures for demand pull inflation

Unit 1: Legislation to reduce UK carbon emissions

...is outlined by this BBC video

http://www.bbc.co.uk/news/science-environment-13432564

a) Discuss the benefits and costs to the UK of introducing this policy