Posts from the ‘Economics’ Category

Unit 1: Hong Kong air pollution

December 8th, 2012 at 8:47 pm by Blogger Bryn

Air pollution in Hong Kong; a classic case of negative externalities, according to Aljazeera

http://www.youtube.com/watch?v=HoljHRWg3pQ

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Does fracking have negative externalities associated with it?

December 8th, 2012 at 8:34 pm by Blogger Bryn

You decide

http://www.bbc.co.uk/news/uk-politics-20628264#

Oil production in Khazakstan may also result in negative externalities

http://www.bbc.co.uk/news/world-asia-20637581#

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Should Australia build a natural gas liquification plant?

December 4th, 2012 at 9:31 pm by Blogger Bryn

Plenty of debate in Australia, says Aljazeera

http://www.youtube.com/watch?v=JKtGRY4gkHY

a) Identify private costs, external costs. private benefits and external benefits associated with the project
b) On what basis should the Australian Government reject or accept this proposal?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Government spending 2011-12

December 4th, 2012 at 8:58 pm by Blogger Bryn

2 great graphics from the Guardian

http://www.guardian.co.uk/news/datablog/2012/dec/04/government-spending-department-2011-12

http://www.guardian.co.uk/news/datablog/interactive/2012/dec/04/public-spending-uk-2011-12-interactive

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Australia restricts cigarette packaging and Wales hide displays

December 4th, 2012 at 5:56 pm by Blogger Bryn

…according to these articles found by tutor2u

http://www.youtube.com/watch?v=nOeeyS1naSU Aljazeera video
http://www.bbc.co.uk/news/world-asia-20564350 BBC video
http://www.guardian.co.uk/world/2012/dec/01/plain-packaging-australian-cigarette-tobacco article

and what happens to those packets that don’t conform to the new law?

http://www.dailytelegraph.com.au/news/national/retailers-selling-cigarettes-cheap-to-beat-plain-packaging-rules/story-fndo2iwh-1226527725990

http://www.bbc.co.uk/news/uk-wales-20588795# Hiding displays video

a) Discuss the extent to which this new policy will reduce the market failure in the cigarette market

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Minimum pricing and the end of multi-deals on alcohol

November 28th, 2012 at 8:53 pm by Blogger Bryn

That’s the plan, according to the Aljazeera and the BBC

http://www.youtube.com/watch?v=gBIRf_0AgBY Aljazeera
http://www.bbc.co.uk/news/health-20529380# video
http://www.bbc.co.uk/news/health-20522014# video
http://www.bbc.co.uk/news/health-20515918# article

Arguments in favour http://www.bbc.co.uk/news/uk-politics-20528547# (video)and http://www.bbc.co.uk/news/health-20528548# video

a) To what extent do you think these measures would reduce the market failure asociated with this demerit good?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Why hasn’t unemployment risen higher in the recession?

November 28th, 2012 at 8:43 pm by Blogger Bryn

Underemployment may be part of the answer

http://news.sky.com/story/1017769/uk-under-employed-total-hits-three-million Sky news article

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-underemployment-in-the-uk-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:01:31Z tutor2u post

This idea of fewer people being made redundant, but more people working fewer hours than they would like to would be a good point to develop for evaluating the current state of employment/unemployment in the economy

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Information failure: Grapefruit!

November 27th, 2012 at 8:19 pm by Blogger Bryn

Apotentially lethal example of information failure if you take certain medicines and eat grapefruit

http://www.bbc.co.uk/news/health-20497086#

a) What actions could the government take to reduce this market failure?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Is the Government’s flagship supply side policy to reduce unemployment failing?

November 27th, 2012 at 8:05 pm by Blogger Bryn

The early feedback isn’t good

http://www.bbc.co.uk/news/uk-20507107# video

http://news.sky.com/story/1017110/welfare-to-work-scheme-misses-its-target Sky article

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Why do countries have different growth rates?

November 22nd, 2012 at 12:00 pm by Blogger Bryn

An interesting post with good data from economicshelp

http://www.economicshelp.org/blog/6299/economics/what-explains-differences-in-economic-growth-rates/

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Inflation and Unemployment resources

November 18th, 2012 at 10:41 pm by Blogger Bryn

…..from tutor2u scoopit

http://www.scoop.it/t/as-macro-inflation-and-unemployment?sc_source=http%3A%2F%2Fwww.tutor2u.net%2Fblog%2Findex.php%2Feconomics%2Fcomments%2Funit-2-macro-revision-resources-on-inflation-and-unemployment%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Beconomics_news%2B%2528tutor2u%2BEconomics%2BBlog%2529%23When%3A19%3A36%3A16Z

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: The price of Twinkies

November 18th, 2012 at 1:02 pm by Blogger Bryn

Would you pay $1000 for a box of revoltingly sweet cream cakes? Some people might according to Sky news

http://news.sky.com/story/1012920/soon-to-go-twinkies-snapped-up-for-1000

More on the background to the story from Ch4

http://www.channel4.com/news/america-says-goodbye-to-twinkies-ho-hos-and-ding-dongs

a) Using a S&D diagram, explain why a box of twinkies sell for for $1000
b) Using a S&D diagram, explain why this might be a short term phenomenon

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Why are property prices so high in Hong Kong?

November 16th, 2012 at 8:02 pm by Blogger Bryn

This clip from the BBC explains all

http://www.bbc.co.uk/news/business-20352103#

A) Using a S&D diagram, explain why HK property prices are rising (Hint: Be careful how you draw the supply curve)

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Producive efficiency via larger lorries

November 16th, 2012 at 7:54 pm by Blogger Bryn

A clip from the BBC that highlights the importance of not looking at economics in isolation

http://www.bbc.co.uk/news/uk-england-lincolnshire-20318649#

a) How would the introduction of these lorries in the UK increase productive efficiency?
b) Given this economic advantage, what wider reasons must there be for not allowing them on our roads?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Information failure: How much should you drink if you’re pregnant?

November 16th, 2012 at 7:46 pm by Blogger Bryn

It’s unclear, according to this BBC clip

http://www.bbc.co.uk/news/health-20344601#

a) How is there an example of information failure in this case?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Increased demand for smartphones

November 15th, 2012 at 9:56 pm by Blogger Bryn

….reports Sky news

http://news.sky.com/story/1011430/global-smartphone-sales-boom-by-47-percent

a) Using demand theory, explain the rapid increase in the demand for smartphones worldwide

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: The price of potatoes……and chips

November 15th, 2012 at 9:48 pm by Blogger Bryn

…..are on the rise, according to the BBC

http://www.bbc.co.uk/news/business-20317781

a) Using a S&D diagram, explain why the price of potatoes is rising
b) Using a S&D diagram, explain why the price of chips will also be increasing

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1 Productive efficiency: Big lorries!

November 15th, 2012 at 9:38 pm by Blogger Bryn

Nice clip from the BBC

http://www.bbc.co.uk/news/uk-england-lincolnshire-20318649

a) IN what way does this relate to the concept of productive efficiency?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: The Nutella tax

November 13th, 2012 at 8:23 pm by Blogger Bryn

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/economics/comments/the-nutella-tax-a-tax-on-negative-externalities

a) Using a diagram, explain the market failure associated with the consumption of Nutella
b) Using a diagram, comment on how succesful the propsed tax will be in reducing the market failure

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Market failure Scoop it resource

November 13th, 2012 at 8:15 pm by Blogger Bryn

http://www.scoop.it/t/marketfailure

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: AD and AS Pinterest resource

November 13th, 2012 at 8:13 pm by Blogger Bryn

http://pinterest.com/geoffriley/aggregate-demand-and-aggregate-supply/

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Denmark abandons the fat tax

November 13th, 2012 at 8:08 pm by Blogger Bryn

…according to the BBC

http://www.bbc.co.uk/news/world-europe-20280863

This was the original policy

http://www.bbc.co.uk/news/world-europe-15137948

a) Why has Denmark abandoned this attempt to reduce the market failure caused by saturated tax?
b) Comment on the notion that this is the end of their campaign to reduce obesity

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Causes of European unemployment

November 4th, 2012 at 9:53 am by Blogger Bryn

Thanks to economicshelp for this, including nice comparative data

http://econ.economicshelp.org/2009/05/european-unemployment.html

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Negative externalities from building the 3 gorges dam

November 2nd, 2012 at 11:52 am by Blogger Bryn

Many, according to the BBC

http://www.bbc.co.uk/news/world-asia-china-20176498

a) What are the negative externalities identified?
b) So why did the dam go ahead (Hint: Use ECONOMICS in your answer!)

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Using mobile phones whilst driving: An example of a demerit good

November 1st, 2012 at 4:13 pm by Blogger Bryn

I love the Australian approach, no mucking about according to this Aljazeera clip

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

a) What is the market failure arising from using mobile phones in cars?
b) To what extent do you think this new law will eliminate the market failure?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Poor wine harvests likely to push up the price of a bottle of wine

November 1st, 2012 at 4:01 pm by Blogger Bryn

……..according to this BBC article

http://www.bbc.co.uk/news/world-europe-20152231#

a) Using a S&D diagram, explain why the price of wine for UK consumers is likely to rise
b) Do you think all wines will rise by the same amount? Explain your reasonong

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Carbon monoxide monitors: An example of merit goods?

November 1st, 2012 at 3:32 pm by Blogger Bryn

In Northern Ireland new rules insist carbon monoxide monitors are fitted

http://www.bbc.co.uk/news/uk-northern-ireland-20156809#

a) Why are there monitors underconsumed in the free market?
b) What positive externalities do they produce?
c) To what extent do you think the new regulations will reduce the market failure(ie the cases of carbon monoxide poisoning)

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Inequalitiy of income resulting from China’s economic growth

November 1st, 2012 at 3:21 pm by Blogger Bryn

3 clips from the BBC illustrating the problem

http://www.bbc.co.uk/news/world-asia-20174711#
http://www.bbc.co.uk/news/world-asia-china-20163802#
http://www.bbc.co.uk/news/world-asia-china-20149568#

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2 EU unemployment data

November 1st, 2012 at 3:09 pm by Blogger Bryn

Great bar chart in this Guardian article showing EU unemployment rates

http://www.guardian.co.uk/news/datablog/2012/oct/31/europe-unemployment-rate-by-country-eurozone

and BBC video

http://www.bbc.co.uk/news/business-20156970#

and BBC article

http://www.bbc.co.uk/news/business-20153497#

a) Discuss the extent to which unemployment is a problem in the EU (Make sure you use the data and make evaluative comments)

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Costs, benefits and externalities from a Siberian dam

October 30th, 2012 at 4:16 pm by Blogger Bryn

Great clip from the BBC

http://www.bbc.co.uk/news/world-europe-13786515

a) Explain private benefits that will arise from the project
b) Explain private costs that will arise from the project
c) Explain external benefits (positive externalities) that will arise from the project
d) Explain external costs (negative externalities) that will arise from the project

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: An unusual example of a negative externality from smoking cannabis

October 27th, 2012 at 8:14 pm by Blogger Bryn

We all know the standard arguments against smoking cannabis, both in terms of private costs, private benefits and external costs…………..but here’s an unusual one from the BBC

http://www.bbc.co.uk/news/world-asia-20107973#

a) What are he private costs and private benefits from consuming cannabis?
b) Explain, using the standard definition, the negative  externality outlined in the article
c) How does the market fail?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: GDP growth and unemployment rates for non EU countries

October 27th, 2012 at 8:06 pm by Blogger Bryn

……courtesy of economicshelp

http://www.economicshelp.org/blog/6071/economics/econ-growth-and-unemployment-stats-countries-with-own-currency/

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Common food labelling

October 26th, 2012 at 9:39 pm by Blogger Bryn

…is on the way, according to the BBC

http://www.bbc.co.uk/news/health-20054005#

a) Why does the government want this common scheme? ie how does the free market for food fail?
b) Comment on the extent to which this scheme, if introduced, would reduce the market failure

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: The price of a driving permit in Shanghai

October 26th, 2012 at 8:46 pm by Blogger Bryn

Thanks to tutor2u for pointing out this article

http://www.shanghaidaily.com/nsp/Metro/2012/10/21/Demand%2Bkeeps%2Bplate%2Bprices%2Bhigh/

a) Using a S&D diagram, explain the rising price of a driving permit in Shanghai

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Consumption and AD data Oct 2012

October 26th, 2012 at 8:43 pm by Blogger Bryn

Thanks to tutor2u for this data

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-are-uk-consumers-on-the-comeback-trail?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:20:40:02Z

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: How useful is GDP? Robert Kennedy’s speech

October 26th, 2012 at 8:30 pm by Blogger Bryn

Thanks to tutor2u for providing access to this wonderful clip of Bobby Kennedy questionning the point of measuring a country’s standing by using GDP. You don’t get speeches like this from politicians today (more’s the pity)

http://www.tutor2u.net/blog/index.php/economics/comments/how-useful-gdp-is-as-a-measure-of-well-being-that-old-chestnut-once-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:11:04:52Z

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Units 1 and 2: The costs of economic growth

October 19th, 2012 at 9:57 pm by Blogger Bryn

….as seen in China with the negative externalities from China’s rapid expansion clear to see

http://www.bbc.co.uk/news/world-asia-19995748#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa

a) What are the negative externalities highlighted in the film?
b) Why are these negative externalities?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Why are rents for flats and houses increasing?

October 19th, 2012 at 9:51 pm by Blogger Bryn

A great audio clip from Radio 5live

http://www.bbc.co.uk/news/business-20003890#

Can you apply the following economic concepts to the clip?
Supply; Demand; equilibrium; complements, substitutes, Ped, XED

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Changing taste and fashion in India

October 19th, 2012 at 9:47 pm by Blogger Bryn

It appears even India can’t escape the global reach of Starbucks……I wonder if they’ll pay any taxes in India?

http://www.bbc.co.uk/news/business-20003701#

…and Costa as well

http://www.bbc.co.uk/news/business-19999782#

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Why world food prices wil rise in the future

October 19th, 2012 at 3:35 pm by Blogger Bryn

Great clip from Newsnight

http://www.bbc.co.uk/news/world-us-canada-19986655#

and a similar story from Aljazeera

http://www.youtube.com/watch?v=eT8aM_XPV1I

a) Using S&D theory, analyse why food prices are likey to rise
b) Comment on the idea that food price rises in the future are inevitable

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Macro problems for the UK economy

October 18th, 2012 at 9:50 pm by Blogger Bryn

A nice summary and great, up to date data, from economicshelp

http://www.economicshelp.org/blog/5962/economics/main-problems-of-uk-economy/

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: Inflation terms exlained

October 14th, 2012 at 12:53 pm by Blogger Bryn

…by the BBC

http://www.bbc.co.uk/news/uk-politics-19909868#

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: The costs of youth unemployment to Spain

October 14th, 2012 at 12:50 pm by Blogger Bryn

……the young are emigrating, according to the BBC

http://www.bbc.co.uk/news/world-europe-19868408#

a) What are the short and long run costs and benefits to Spain of  this emigration by their unemployed young people?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Liquid nitrogen cocktails: Acase for government intervention in the free market?

October 14th, 2012 at 10:49 am by Blogger Bryn

I couldn’t believe this story

http://www.bbc.co.uk/news/uk-19878511#

a) What example of market failure would such drinks represent?
b) What methods of government intervention could be used to eliminate he market failure?
c) Comment on the likely success of such policies

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 2: UK budget deficit

October 14th, 2012 at 10:38 am by Blogger Bryn

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/5922/economics/uk-budget-deficit/

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

Unit 1: Why will UK food prices rise?

October 10th, 2012 at 3:52 pm by Blogger Bryn

The poor summer weather and knock on effects are the cause according to the BBC

http://www.bbc.co.uk/news/uk-19892971 video
http://www.bbc.co.uk/news/uk-19890250 article

Using S&D analysis, explain why the price of foods such as bread, milk and beef will rise

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

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

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

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

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

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?

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)

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/

VN:R_U [1.8.0_1031]
How interesting is this article?
Rating: 0.0/10 (0 votes cast)