Posts from the ‘Economics’ Category

Unit 2: What determines how internationally competitive a country is?

October 8th, 2012 at 8:53 pm by Blogger Bryn

Thanks to economicshelp for this summary

http://econ.economicshelp.org/2007/06/what-determines-international.html

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Unit 2: Unemployment in the USA

October 8th, 2012 at 8:45 pm by Blogger Bryn

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

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Unit 1: Seasonal demand for new cars

October 5th, 2012 at 6:10 pm by Blogger Bryn

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?

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Unit 2: Economic growth data

October 5th, 2012 at 5:58 pm by Blogger Bryn

Thanks to economicshelp for this up to date for the UK and other countries

http://www.economicshelp.org/blog/5843/economics/economic-growth-stats/

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Unit 2: Does a current account deficit matter?

October 4th, 2012 at 9:47 pm by Blogger Bryn

Nice evaluation from economicshelp

http://econ.economicshelp.org/2007/03/does-current-account-deficit-matter.html

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Unit 1: Pension auto-enrollment: Action to reduce market failure?

October 2nd, 2012 at 9:39 am by Blogger Bryn

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

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Unit 2: Understanding unemployment figures

October 2nd, 2012 at 9:27 am by Blogger Bryn

I like this summary article from the BBC

http://www.bbc.co.uk/news/business-19745115

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Unit 2: The costs of unemployment

October 2nd, 2012 at 9:26 am by Blogger Bryn

Nice article from the BBC

http://www.bbc.co.uk/news/business-19784062

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Unit 1: Rising demand for Chinese beer

September 30th, 2012 at 2:13 pm by Blogger Bryn

….according to the BBC

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

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

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

September 29th, 2012 at 4:50 pm by Blogger Bryn

Nice summary from economicshelp

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

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Unit 2: The purpose of monetary policy

September 29th, 2012 at 4:46 pm by Blogger Bryn

A nice summary from economicshelp

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

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Unit 2: UK balance of payments

September 29th, 2012 at 7:37 am by Blogger Bryn

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

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

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Unit 1: Changing demand for Dominos pizza

September 29th, 2012 at 7:24 am by Blogger Bryn

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

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Unit 2: UK inflation data and stats

September 21st, 2012 at 9:06 pm by Blogger Bryn

Another thanks to economicshelp

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

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Unit 2: UK unemployment data and stats

September 19th, 2012 at 9:46 pm by Blogger Bryn

…thanks to economicshelp

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

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Unit 1: Meat prices to rise

September 19th, 2012 at 9:21 pm by Blogger Bryn

….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

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Unit 1: Negative externalities from whisky production in the USA

September 18th, 2012 at 5:53 pm by Blogger Bryn

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

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Unit 2: Growth rates in selected countries

September 17th, 2012 at 8:55 pm by Blogger Bryn

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

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Unit 2: Latest UK and EU unemployment data

September 16th, 2012 at 8:26 pm by Blogger Bryn

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/

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Unit 2: Latest position of the Australian economy

September 8th, 2012 at 10:17 pm by Blogger Bryn

….isn’t that clear, according to this BBC clip

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

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

September 7th, 2012 at 8:56 pm by Blogger Bryn

…..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

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Unit 1: Banana prices to rise!

September 3rd, 2012 at 8:40 pm by Blogger Bryn

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

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Unit 1: Increasing demand for private jets in China

August 30th, 2012 at 8:40 pm by Blogger Bryn

…according to the BBC

http://www.bbc.co.uk/news/world-asia-china-19415655#

a) Explain, using the determinants of demand, why the demand for private jets has grown so rapidly in China

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Unit 1: Cannabis; a demerit good?

August 29th, 2012 at 6:37 pm by Blogger Bryn

Interesting clip from the BBC based on long term research

http://www.bbc.co.uk/news/health-19394368#

a) Define the term “merit good”
b) To what extent is cannabis a demerit good?
c) Comment on the likely success of government policies to reduce the market failure associated with cannabis consumption

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Unit 1: Market failure glossary

August 27th, 2012 at 7:51 pm by Blogger Bryn

Thanks to tutor2u for this; remember this is not OCR specific and so contains some words you don’t specifically need for the exam

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-market-failure-glossary?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:06:08:42Z

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Unit 1: Positive externalities from the V festival

August 22nd, 2012 at 8:57 pm by Blogger Bryn

….according to this BBC clip

http://www.bbc.co.uk/news/uk-england-essex-19347728#

a) State the positive externality in the video and explain why it is a positive externality

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Unit 1: Does the Russian space programme have negative externalities?

August 20th, 2012 at 9:29 pm by Blogger Bryn

Some locals in remote areas of Russia think the answer might be “yes” according to the BBC

http://www.bbc.co.uk/news/world-europe-19314649#

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Unit 1: Standard cigarette packaging in Australia

August 19th, 2012 at 8:55 pm by Blogger Bryn

…is on its way

http://news.sky.com/story/972658/australia-upholds-logo-ban-on-cigarette-packs Sky

Will it work?

http://www.bbc.co.uk/news/health-19267740#

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Unit 1: Positive externalities from solar lights

August 14th, 2012 at 10:33 am by Blogger Bryn

An interesting video from Aljazeera

http://www.youtube.com/watch?v=QtpO6GaTaIg

a) What would be the private costs and benefits to a firm of fitting this system?
b) What would be the positive externalities/external benefits of this system?
c) What actions, if any, should the government take in this market?

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Unit 1: Negative externalities from economic growth in Hong Kong

August 13th, 2012 at 3:16 pm by Blogger Bryn

…according to the BBC

http://www.bbc.co.uk/news/business-19204836#

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Unit 2: Worsening UK trade figures

August 13th, 2012 at 2:59 pm by Blogger Bryn

….from Sky news

http://news.sky.com/story/970588/uk-trade-deficit-rises-as-ecb-doubts-growth

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Unit 1: Chocolate prices to rise

August 13th, 2012 at 2:58 pm by Blogger Bryn

….reports Sky news

http://news.sky.com/story/969509/chocoholics-hit-by-west-african-drought

a) Using a S&D diagram, explain why chocolate prices are likely to rise

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Unit 1: The changing demand for books

August 13th, 2012 at 2:55 pm by Blogger Bryn

Amazon have sold more ebooks than paper books, reports Sky news

http://news.sky.com/story/969252/amazon-sells-more-ebooks-than-printed-titles

a) Using Demand analysis, explain what has happened in both the ebook market and the paper book market

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Unit 1: Will a waste recycling facility lead to negative externalities?

July 28th, 2012 at 9:21 pm by Blogger Bryn

You decide after watching this BBC Wales clip

http://www.bbc.co.uk/news/uk-wales-19023473#

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Unit 2: The AD function for the USA

July 27th, 2012 at 9:39 pm by Blogger Bryn

I love this from Planet Money, the US GDP sliced and diced.

http://www.npr.org/blogs/money/2012/07/27/157444854/the-u-s-gdp-sliced-and-diced-in-two-graphics?ft=1&f=93559255

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Unit 1: Flu vaccine for all children in UK

July 26th, 2012 at 10:54 am by Blogger Bryn

A major policy decision by the UK government

http://www.bbc.co.uk/news/health-18979106#

a) Explain, with examples, the private costs and benefits of this policy
b) Explain the positive externalities associated with this policy
c) What type of market failure is this policy trying to counter?
d) Using a diagram, explain how this policy will reduce the market failure in the vaccine market

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Unit 2: UK recession worsens

July 26th, 2012 at 10:49 am by Blogger Bryn

….according to the preliminary data for the last quarter

http://www.economicshelp.org/blog/5581/economics/double-dip-recession-deepens/
http://www.channel4.com/news/how-the-construction-sector-is-impeding-the-recovery Ch4 inc video
http://www.bbc.co.uk/news/uk-18989652 BBC
http://www.bbc.co.uk/news/business-18989329# BBC
http://www.bbc.co.uk/news/business-18981645# BBC

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Unit 2: How happy are you? The National Wellbeing survey results are out

July 24th, 2012 at 9:09 pm by Blogger Bryn

….and might add to the stark GDP per capita figure as a measure of economic wellbeing

The data is from the Guardian and the BBC

http://www.guardian.co.uk/news/datablog/2012/jul/24/how-happy-are-you-wellbeing Guardian
http://www.bbc.co.uk/news/uk-politics-18966729# BBC

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Unit 1: Nepal cracks down on drink driving

July 22nd, 2012 at 9:53 pm by Blogger Bryn

….according to Aljazeera

http://www.youtube.com/watch?v=HlbNC-rH5os

a) Why is drink driving an example of market failure?
b) Comment on the likely success of the zero alcohol policy in reducing the market failure

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Unit 1: Negative externalities from gold mining in Nigeria

July 22nd, 2012 at 9:45 pm by Blogger Bryn

A deeply depressing report from Aljazeera

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

a) Using economic theory, explain how the unregulated mining industry isfailing in Nigeria
b) Discuss alternative strategies the Nigerian government could take to reduce the market failure

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Unit 1: The impact of the USA corn crop failing

July 21st, 2012 at 7:10 pm by Blogger Bryn

….can be large, say Aljazeera

http://www.youtube.com/watch?v=139xi2a3c8Q

a) Using a S&D diagram, explain the likely effect of this drought on US corn prices
b) Using a S&D diagram, explain the effect on corn related proucts such as foodstuffs and biofuel

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Unit 1: Alcohol ban on scottish trains

July 21st, 2012 at 7:01 pm by Blogger Bryn

…according to the BBC

http://www.bbc.co.uk/news/uk-scotland-18930963#

a) Using economic theory, explain why this ban has been put in place
b) Comment on the likely succes of the policy in reducing market failure

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Unit 1: How far should the alcohol market be regulated?

July 20th, 2012 at 10:15 am by Blogger Bryn

As much as the tobacco industry? That appears to be the direction MP’s are suggesting in this BBC video

http://www.bbc.co.uk/news/health-18898242#

a) How does the free market for alcohol fail?
b) To what extent would these new proposals reduce the market failure?

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Unit 2: How well is the Australian econmy doing?

July 19th, 2012 at 11:23 am by Blogger Bryn

A mixed picture behind the encouraging headline data, reports the BBC

http://www.bbc.co.uk/news/business-18896812#

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Unit 2: The costs of unemployment

July 19th, 2012 at 11:14 am by Blogger Bryn

….as shown by NEETS in Huddersfield (BBC video)

http://www.bbc.co.uk/news/uk-18882588#

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Unit 2: An investment boost for the UK economy?

July 19th, 2012 at 10:54 am by Blogger Bryn

Apparently so according to a Government announcement

http://news.sky.com/story/961586/uk-economy-is-given-50bn-investment-boost Sky
http://www.bbc.co.uk/news/uk-18881927# BBC

…but this isn’t the government spending; they’re promising to underwrite projects, not pay for them

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Unit 1: Laws to ensure e-waste is recycled

July 17th, 2012 at 9:10 pm by Blogger Bryn

Thanks to tutor2u for finding this Aljazeera video

http://www.youtube.com/watch?v=v1TaDwPUu4c&feature=player_embedded

a) What is the market failure that has lead to the introduction of this EU law?
b) Comment on the likely success of the policy in reducing the market failure

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Unit 2: UK inflation falls to a 31 month low

July 17th, 2012 at 8:58 pm by Blogger Bryn

…..according to Sky news and the BBC

http://news.sky.com/story/961190/record-rainfall-helps-inflation-fall-sharply sky
http://www.bbc.co.uk/news/business-18867248# BBC article
http://www.bbc.co.uk/news/18874387# BBC video

and timetric have the latest data visually

http://byline.timetric.com/2012/07/17/uk-cpi-inflation-continues-to-slow/

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Unit 1: positive and negative externalities from rubbish

July 15th, 2012 at 5:02 pm by Blogger Bryn

Nice clip from Aljazeera about rubbish disposable in Brazil

http://www.youtube.com/watch?v=5VzcsrZ5tDs

a) Using examples from the video clip, explain positive and negative externalities that arise from Rubbish disposal methods in Brazil

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Test post to twitter

July 15th, 2012 at 10:45 am by Blogger Bryn
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