Posts from the ‘Economics’ Category

Unit 1: Capturing cow’s burps and the resulting positive externalities

January 5th, 2014 at 3:26 pm by Blogger Bryn

Not your usual story, but if this process is adopted widely, there won’t only be private benefits to the farmers (ie nearly free energy), but also a positive externality as the rest of society will benefit from lower global warming

http://www.bbc.co.uk/news/science-environment-25264045#

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Unit 1: Information failure: How much sugar in a bottle of coke?

January 5th, 2014 at 3:24 pm by Blogger Bryn

Do you know how may calories you consume when you drink a Coke? This Newsnight clip may be illuminating if you have no idea

http://www.youtube.com/watch?v=ugFock3p2xE

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Unit 1: Legal highs: The difficulty of enforcing legislation/regulation

January 4th, 2014 at 2:43 pm by Blogger Bryn

The problem is shown clearly by Aljazeera

http://link.brightcove.com/services/player/bcpid1659202292001?bckey=AQ~~,AAAAmtVJIFk~,TVGOQ5ZTwJbsT0Mq3k9H8GCa4jV3vL4M&bctid=3008780245001

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Unit 1: Mining: A capital intensive industry

January 4th, 2014 at 12:37 pm by Blogger Bryn

Nice clip from Aljazeera

http://bcove.me/7crh93gv

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Unit 2: Happy Birthday GDP

January 4th, 2014 at 12:13 pm by Blogger Bryn

….reports this BBC video

http://www.bbc.co.uk/news/business-25587089#

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Unit 1: Ireland has more “land” as they find gold!

January 4th, 2014 at 12:00 pm by Blogger Bryn

….reports the BBC

http://www.bbc.co.uk/news/business-25558554#

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Unit 1: New year, new laws/regulations

January 4th, 2014 at 11:51 am by Blogger Bryn

The New Year has seen a raft of new legislation/regulation around the world as reported in the Guardian

http://www.theguardian.com/law/2013/dec/31/new-year-new-rules-changes-2014

Look at the laws introduced in each country and ask yourself
a) Is there a market failure this law is setting out to correct?
b) If so, evaluate the likely success of the legislation in reducing the market failure

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Unit 2: The cost of youth unemployment

January 4th, 2014 at 11:39 am by Blogger Bryn

Sky news has this depressing report from the Prince’s Trust

http://news.sky.com/story/1189394/jobless-youngsters-have-nothing-to-live-for

…and the BBC

http://www.bbc.co.uk/news/uk-scotland-25575182#

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Unit 1: New regulations re food waste recycling in Scotland

January 2nd, 2014 at 11:52 am by Blogger Bryn

….reports the BBC

http://www.bbc.co.uk/news/uk-25566307#

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Unit 1: Allocative efficiency in music distribution

January 2nd, 2014 at 11:33 am by Blogger Bryn

More changes in the way music is produced, reports sky

http://news.sky.com/story/1189076/online-music-streaming-doubles-in-uk-in-2013

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Unit 2: The Tour de France in the UK and the resulting multiplier effect

January 2nd, 2014 at 11:31 am by Blogger Bryn

Who knows how large it will be, but Sky news reports the nice round figure of £100m…..ie they have just picked a random number!

http://news.sky.com/story/1189274/tour-de-france-lending-boost-for-Yorkshire

More from the BBC

http://www.bbc.co.uk/news/business-23260441
http://www.bbc.co.uk/sport/0/cycling/21888502

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Unit 1: Illegal rubbish dumps in Greece

December 31st, 2013 at 5:44 pm by Blogger Bryn

Laws may be easy to pass, but enforcement can prove a problem as this clip from the BBC shows

http://www.bbc.co.uk/news/world-europe-25546443#

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Unit 1: More information from Government on the possible health implications of smoking

December 30th, 2013 at 12:35 pm by Blogger Bryn

…reports the BBC

http://www.bbc.co.uk/news/health-25540658#

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Unit 2: The effect of a rising £

December 27th, 2013 at 9:11 pm by Blogger Bryn

Nicely summarised in this Sky News story

http://news.sky.com/story/1187558/pound-hits-two-year-high-against-dollar

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Unit 1: Action to prevent market failure with payday loans?

December 21st, 2013 at 4:09 pm by Blogger Bryn

That’s the proposal to ban payday loan ads from children’s TV

http://news.sky.com/story/1185126/ban-payday-loan-ads-on-kids-tv-mps-say

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Unit 2: The Sirius scheme: A supply side policy

December 18th, 2013 at 9:22 pm by Blogger Bryn

A small scale supply side policy reported by sky

http://news.sky.com/story/1182890/young-entrepreneurs-set-up-shop-in-Britain

and a BBC audio on the same story

http://www.bbc.co.uk/news/business-25397373#

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Unit 2: Why is saving high and consumtion low in China?

December 15th, 2013 at 9:31 pm by Blogger Bryn

A nice clip with the answers from the BBC

http://www.bbc.co.uk/news/business-25309669#

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Unit 1: Should e-cigarettes be more closely regulated?

December 15th, 2013 at 9:18 pm by Blogger Bryn

Some believe they should

http://www.bbc.co.uk/news/uk-wales-25354050#

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UNit 2: Should low inflation be the primary macro objective?

December 15th, 2013 at 4:21 pm by Blogger Bryn

A nice evaluative post from economicshelp

http://www.economicshelp.org/blog/9591/unemployment/low-inflation-objective/

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Unit 2: What are the effects of a decrease in interest rates?

December 15th, 2013 at 4:20 pm by Blogger Bryn

A nice evaluative post from economicshelp

http://www.economicshelp.org/blog/3417/interest-rates/effect-of-lower-interest-rates/

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Unit 2: Income and spending patterns in the UK

December 15th, 2013 at 4:10 pm by Blogger Bryn

Great data from the ONS via a Guardian article, handy when looking at how weights in CPI/RPI are allocated

http://www.theguardian.com/news/datablog/2013/dec/11/families-spend-489-each-week-on-what

and this interactive one showing changes over time, including, clearly, the effects of the recession

http://www.theguardian.com/news/datablog/interactive/2013/dec/11/family-spending-interactive-how-has-it-changed

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Unit 1: Information failure in the fruit and veg market

December 15th, 2013 at 4:02 pm by Blogger Bryn

An amazing story from Tesco. When I read it, I wondered if it was April Fools day!

http://news.sky.com/story/1180717/tesco-blames-customers-for-fruit-and-veg-waste

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Unit 1: Private and external costs of alcohol

December 9th, 2013 at 9:50 pm by Blogger Bryn

Sobering (no pun  intended) report from BBC Scotland

http://www.bbc.co.uk/news/uk-scotland-25303388#

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Unit 2: Shanghai’s pollution; a cost of economic growth

December 9th, 2013 at 9:44 pm by Blogger Bryn

Great clip from the BBC

http://www.bbc.co.uk/news/world-asia-china-25288170#

It’s a pity such examples are now so common

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Unit 1: Allocative efficiency: Bye-bye Blockbuster

December 6th, 2013 at 6:05 pm by Blogger Bryn

Changing consumer methods of watching films sees the end of Blockbuster on the High Street

http://news.sky.com/story/1177984/blockbuster-to-shut-with-1200-job-losses

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Unit 1: The rising price of wool

December 4th, 2013 at 8:57 pm by Blogger Bryn

Supply and demand in action in this BBC clip

http://www.bbc.co.uk/news/uk-wales-25190538#

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Unit 2: Inflation; nice revision summary

December 4th, 2013 at 8:54 pm by Blogger Bryn

…..from economicshelp

http://www.economicshelp.org/blog/2656/inflation/different-types-of-inflation/

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Unit 2: Comparative UK macro data

December 4th, 2013 at 8:49 pm by Blogger Bryn

Thanks to Sky’s Ed Conway for this comparative tool

http://news.sky.com/story/1177750/conways-console-the-recovery-where-you-live

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Unit 1: Actions to reduce information failure regarding smoking

December 1st, 2013 at 4:56 pm by Blogger Bryn

A sobering and informative clip from the BBC

http://www.bbc.co.uk/news/health-25145548#

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Unit 1: Glossary

December 1st, 2013 at 4:19 pm by Blogger Bryn

Thanks to tutor2u for this, but for my students, DONT TREAT THIS AS GOSPEL as it’s not OCR specific

https://www.slideshare.net/tutor2u/unit-1-economics-markets-revision-glossary

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Unit 1: Negative externalities from a US sauce factory

November 29th, 2013 at 10:46 pm by Blogger Bryn

….reports the BBC

http://www.bbc.co.uk/news/world-us-canada-25126194#

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Unit 1: Food outlets forced to display hygiene ratings in Wales

November 29th, 2013 at 9:50 pm by Blogger Bryn

A nice post from BBC Wales showing an attempt to reduce information failure in the fast food/café market

http://www.bbc.co.uk/news/uk-wales-25139949#

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Unit 1: Packaging restrictions coming to UK cigarettes?

November 29th, 2013 at 9:45 pm by Blogger Bryn

Very likely, it now seems, says Sky news

http://news.sky.com/story/1174669/david-cameron-u-turn-over-cigarette-packaging

and the BBC

http://www.bbc.co.uk/news/uk-25141367

….and this BBC audio reports the effect of similar packaging changes in Australia

http://www.bbc.co.uk/news/health-25135553#

http://www.bbc.co.uk/news/uk-politics-25126673# video

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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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