Posts from the ‘Economics’ Category

Unit 1: Tinned fish, an inferior good?

November 27th, 2013 at 9:25 pm by Blogger Bryn

Quite possibly, according to this BBC clip

http://www.bbc.co.uk/news/business-25098813#

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Unit 1: Externalities associated with energy production

November 27th, 2013 at 9:19 pm by Blogger Bryn

…..both positive and negative examples in this great BBC report

http://www.bbc.co.uk/news/science-environment-25051351#

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Unit 1: How much caffine do you consume? A case of information failure?

November 27th, 2013 at 9:16 pm by Blogger Bryn

I’ve no idea, you decide having looked at this Guardian article

http://www.theguardian.com/news/2013/nov/27/caffeine-compared-coke-coffee-aspirin-chocolate-tea

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Unit 2: Multiplier revision powerpoint

November 26th, 2013 at 9:10 pm by Blogger Bryn

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-the-multiplier-process-and-multiplier-effect

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Unit 1: Subsidies revision pwerpoint

November 26th, 2013 at 9:08 pm by Blogger Bryn

With thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-producer-and-consumer-subsidies?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:18:15:04Z

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Unit 1: Controling the price of demerit goods: Payday loans

November 26th, 2013 at 9:06 pm by Blogger Bryn

Are payday loans a demerit good? There is almost certainly information failure in the market and the government now intends to legislate says Sky

http://news.sky.com/story/1173188/payday-loans-to-be-capped-by-government

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Unit 1: Extended warrenties; an example of information failure?

November 24th, 2013 at 9:59 am by Blogger Bryn

Which thinks so, says the BBC

http://www.bbc.co.uk/news/business-25065073#

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Unit 1: Negative externalities from a new proposed gold mine in Romania

November 23rd, 2013 at 5:18 pm by Blogger Bryn

Another great story from Aljazeera

http://bcove.me/ol6sykn8

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Unit 1: Plastic bags in New Delhi

November 23rd, 2013 at 5:07 pm by Blogger Bryn

A great clip from Aljazeera illustrating not just the normal negative externalities associated with rubbish, but also a positive externality. Great stuff!

http://bcove.me/qnq61zpd

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Unit 1: A disturbing example of negative externalities from China

November 23rd, 2013 at 5:01 pm by Blogger Bryn

Thanks to Aljazeera

http://bcove.me/wwnewv3v

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Unit 1: Are supermarket customers suffering information failure?

November 21st, 2013 at 9:37 pm by Blogger Bryn

Yes, reports the BBC

http://www.bbc.co.uk/news/business-24998958#

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Unit 1: A law is fine, but how is it enforced?

November 21st, 2013 at 9:31 pm by Blogger Bryn

Standard theory suggests market failure can be reduced by regulation/legislation, but it has to be enforced

This BBC clip appears to show that isn’t always the case and so breaking the law becomes less of an issue……and the negative externality remains!

http://www.bbc.co.uk/news/uk-25030730#

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Unit 1: NY introduces minimum age and minimum prices for cigarettes

November 20th, 2013 at 9:21 pm by Blogger Bryn

….reports the BBC

http://www.bbc.co.uk/news/world-africa-25012633#

a) To what extent are these measures likely to reduce the market failure caused by cigarettes?

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Unit 1: The demise of Tie Rack: Allocative efficiency

November 20th, 2013 at 9:18 pm by Blogger Bryn

As anyone who knows me will testify, I’ve never bothered the sales staff in Tie Rack. Now it appears, others are following my approach and not buying ties as Sky reports

http://news.sky.com/story/1170762/jobs-at-risk-as-tie-rack-exits-high-streets

a) How does this closure illustrate the idea of allocative efficiency

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Unit 1: Mobiles in cars; a demerit good?

November 19th, 2013 at 8:44 pm by Blogger Bryn

This BBC clip argues that is the case

http://www.bbc.co.uk/news/uk-24983292#

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Unit 2: Fiscal Policy: Revision pwerpoint

November 19th, 2013 at 5:55 pm by Blogger Bryn

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-fiscal-policy-revision-presentation

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Unit 1: Is breastfeeding a merit good?

November 17th, 2013 at 4:41 pm by Blogger Bryn

It could well be, according to the government who are starting a trial to give vouchers (ie a subsidy) to mothers who breastfeed. This BBC video explains all

http://www.bbc.co.uk/news/health-24908670#

a) What are the 2 conditions needed for a merit good?
b) Does breastfeeding meet these criteria
a) Evaluate the likely success of this project

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Unit 1: Allocative efficiency and the demise of Blockbuster

November 17th, 2013 at 4:15 pm by Blogger Bryn

Sky reports

http://news.sky.com/story/1167901/jobless-rate-at-three-year-low-of-7-6-percent

a) In what way does the disappearance of Blockbuster from high streets show allocative efficiency in the economy?

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Unit 1: Shine on you crazy diamond

November 17th, 2013 at 4:13 pm by Blogger Bryn

Classis S&D story in the auction house

http://news.sky.com/story/1167901/jobless-rate-at-three-year-low-of-7-6-percent

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Unit 2: November 2013: Inproved unemployment figures

November 17th, 2013 at 4:11 pm by Blogger Bryn

Report from Sky news

http://news.sky.com/story/1167901/jobless-rate-at-three-year-low-of-7-6-percent

and UK by region map from the Guardian

http://www.theguardian.com/news/datablog/interactive/2013/nov/13/uk-unemployment-mapped-adult-youth

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Unit 1: Payday loans; a demerit good?

November 10th, 2013 at 1:49 pm by Blogger Bryn

Ed Milliband appears to think so as he want regulations introduced to restrict when they can be shown, says Sky

http://news.sky.com/story/1166417/miliband-slams-payday-lenders-kids-ads

a) Why might payday loans be characterised as a demerit good?
b) To what extent would the proposal reduce the market failure?
c) What other actions could the government take? Would they be more successful?

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Unit 2: ECB cuts interest rates

November 9th, 2013 at 8:21 pm by Blogger Bryn

A really informative article from the BBC

http://www.bbc.co.uk/news/business-24851483#

a) Why has the ECB cut the rate? Explain your answer in terms of the 4 macro-economic objectives
b) Evaluate the likely success of this policy move

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Unit 1: US Government bans transfats

November 9th, 2013 at 8:07 pm by Blogger Bryn

Thanks to tutor2u for this post

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-us-food-authorities-take-step-to-ban-transfats

a) What is the market failure this intervention is meant to correct?
b) Evaluate the likely success of the government action in correcting the market failure
c) Outline one other action the US government could have taken instead of the legislation and compare the likely success of the 2 policies

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Unit 1: Why has demand for blockbusters products collapsed

November 8th, 2013 at 7:10 pm by Blogger Bryn

This article from Sky explains

http://news.sky.com/story/1165304/blockbuster-to-close-remaining-us-shops

a) Using the theory of demand, explain the demise of Blockbusters, both in the US and the UK

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Unit 1: What explains the rising demand for new cars?

November 6th, 2013 at 8:58 pm by Blogger Bryn

An interesting article from Sky news

http://news.sky.com/story/1164674/new-car-sales-fuel-efficiency-boosts-demand

a) Given we are experiencing little or no growth in real incomes, which of the determinants of demand explains the increasing demand for new cars?

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Unit 1: Carbon capture: A market that requires more government intervention?

November 5th, 2013 at 5:08 pm by Blogger Bryn

Given the positive externalities from carbon capture, what policies could the government use to accelerate its adoption?

http://www.bbc.co.uk/news/uk-scotland-24804367#

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Unit 2: The Welfare to Work scheme in Wales

November 5th, 2013 at 5:04 pm by Blogger Bryn

Not a very successful supply side policy according to this BBC clip

http://www.bbc.co.uk/news/uk-wales-24813127#

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Unit 2: The effect of a changing exchange rate

November 5th, 2013 at 4:59 pm by Blogger Bryn

Nice post from economicshelp. especially the evaluation ideas at the end of the post

http://www.economicshelp.org/blog/9328/business/effect-exchange-rate-business/

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Unit 1: Negative externalities from sand mining in India

November 3rd, 2013 at 6:39 pm by Blogger Bryn

A really good example of negative externalities from Al Jazeera

http://bcove.me/chpfib65

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Unit 1: Cuba; a step back to central planning?

November 3rd, 2013 at 6:29 pm by Blogger Bryn

Interesting development in Cuba that seems to buck the recent trend reports the BBC

http://www.bbc.co.uk/news/world-latin-america-24793109#

…and Aljazeera

http://bcove.me/q578hx7h

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Unit 1: The used car market; a case of information failure?

November 2nd, 2013 at 2:14 pm by Blogger Bryn

It would appear so from the point of view of the consumer, according to this BBC clip which clearly shows asymmetric information in the market

http://www.bbc.co.uk/news/business-24784713#

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Unit 1: New York raises smoking age to 21

November 1st, 2013 at 2:31 pm by Blogger Bryn

….reports Aljazeera

http://link.brightcove.com/services/player/bcpid1659202292001?bckey=AQ~~,AAAAmtVJIFk~,TVGOQ5ZTwJbsT0Mq3k9H8GCa4jV3vL4M&bclid=0&bctid=2788180096001

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Unit 2:European unemployment and inflation data

November 1st, 2013 at 10:27 am by Blogger Bryn

…available via the hyperlinks in this BBC summary

http://www.bbc.co.uk/news/business-24758601#

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Unit 1: Should we tax sugary drinks to reduce obesity?

November 1st, 2013 at 10:14 am by Blogger Bryn

Possibly, or possibly not, says this Sky news clip

http://news.sky.com/story/1162375/sugary-drinks-tax-could-raise-treasury-275m

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Unit 1: Wine prices to rise?

October 31st, 2013 at 9:58 am by Blogger Bryn

Apparently so, according to this BBC clip full of demand and supply analysis

http://www.bbc.co.uk/news/world-24753585#

So why don’t we just produce more wine? Think elasticity of supply!

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Unit 1: Is a voluntary agreement enough, or should there be legislation to limit fat in food?

October 30th, 2013 at 10:02 am by Blogger Bryn

An interesting article from Ch4

http://www.channel4.com/news/saturated-fats-food-supermarkets-health-nestle-tesco-kit-kat

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Unit 1: The tablet market

October 26th, 2013 at 9:09 pm by Blogger Bryn

Thanks to economicshelp for this summary of changes in the tablet market

http://www.economicshelp.org/blog/9249/business/growth-global-tablet-market/

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Unit 2: Macro data on inflation, unemployment and the economic cycle

October 26th, 2013 at 8:08 pm by Blogger Bryn

Thanks to tutor2u fro data charts on

Inflation http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-ten-charts-on-uk-inflation?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:21:34:44Z

Unemployment http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-ten-charts-on-unemployment

Economic cycle http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-ten-charts-on-the-uk-economic-cycle

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Unit 2: AD and AS tutor2u resources

October 22nd, 2013 at 8:33 pm by Blogger Bryn

Thanks, as ever, to tutor2u for this update on the AD pwerpoint

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-aggregate-demand

and this AS summary

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-short-run-aggregate-supply

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Unit 1: Are chocolate prices about to rise?

October 22nd, 2013 at 7:38 pm by Blogger Bryn

Yes, if this BBC clip is correct

http://www.bbc.co.uk/news/business-24607261#

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Unit 1: Externalities associated with air pollution

October 22nd, 2013 at 7:30 pm by Blogger Bryn

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-air-pollution-leading-cause-of-cancer?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:57:35Z

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Unit 1: Ireland’s austerity leads to the young emigrating

October 20th, 2013 at 3:50 pm by Blogger Bryn

….according to the BBC

http://www.bbc.co.uk/news/business-24533411#

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Unit 2: Re-balancing the Chinese economy

October 20th, 2013 at 2:57 pm by Blogger Bryn

Interesting clip from the BBC

http://www.bbc.co.uk/news/business-24270734#

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Unit 1: Productive efficiency in transport: Container ships

October 20th, 2013 at 2:39 pm by Blogger Bryn

I love stories about the biggest, fastest, etc so this economics packed clip, I love!!!

http://www.bbc.co.uk/news/business-24439603#

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Unit 1: Young drivers: Providers of negative externalities?

October 20th, 2013 at 2:24 pm by Blogger Bryn

Possibly, if this report is true and these new government restrictions are turned into actions

http://www.bbc.co.uk/news/uk-24491695#

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Unit 1: Information failure in the weight loss market

October 20th, 2013 at 2:17 pm by Blogger Bryn

A sad case, reports the BBC

http://www.bbc.co.uk/news/health-24456217#

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Unit 1: Tesco’s Huddle v Argos My tablet; a tale of substitutes…..

October 19th, 2013 at 8:53 pm by Blogger Bryn

….and possibly inferior goods?

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-argos-tablet-and-inferior-goods

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Unit 2: The effects of inflation on different groups

October 19th, 2013 at 8:33 pm by Blogger Bryn

Nice post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/inflation-different-impacts-on-different-people?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:12:41:55Z

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Unit 2: Falling unemployment, but it’s not a uniform picture across the country

October 19th, 2013 at 7:26 pm by Blogger Bryn

Nice chart from Sky news to highlight regional differences

http://news.sky.com/story/1155213/employment-jobless-benefit-claims-tumble

and this from the BBC re age of the unemployed

http://www.bbc.co.uk/news/uk-24550497#

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Unit 1: More restrictions proposed on cigarette sales in Europe

October 13th, 2013 at 3:29 pm by Blogger Bryn

….according to the BBC

http://www.bbc.co.uk/news/uk-politics-24493979#

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