AS & A2 Economics Revision Workshops

AS & A2 Economics - Intensive Exam Coaching & Revision Workshops: Book Now!

Stratford | Fulham | Bristol | Birmingham | Gateshead | Leeds | Manchester


Economics Resources Popular resources on the {my channel} blogPopular resources on the {my channel} blog Economics revision quizzes Resource tags for the blog RSS Feed for the blog Twitter feed for this blog Teacher Email Resource Newsletter Category listing for this blog Economics Blog home page Economics Blog Home Page


Unit 3 Micro: Tanzania’s cola wars

Saturday, April 19, 2014

Tanzanian cola producers are taking on Coca Cola and making headway in the battle for market share. Despite economic growth, there is a fragile middle class vulnerable to changes in world commodity prices and unstable employment and wages. This opens up an opportunity for indigenous food and drinks manufacturers who might be able to supply products at a lower price harnessing environmental aims such as recycling the majority of plastic bottles used.

read more...»

Unit 1 Micro: AS Micro Revision Quiz 4

Wednesday, April 16, 2014

Here are twelve more questions covering markets and market failure - test your understanding with this zondle-powered quiz!

read more...»

Unit 1 Micro: Theory of Market Demand

Sunday, April 13, 2014

Demand is the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period

read more...»

Unit 1 Micro: Revision on Elasticity of Demand and Supply

Tuesday, April 08, 2014

Our normal laws of demand suggest that as prices increase demand decreases whilst firms attempt to supply more (with the opposite happening as prices decrease). The concept of elasticity extends this understanding by asking the question ‘by how much does demand and supply change?’

read more...»

Unit 1 Micro: Options for Funding the BBC

Monday, March 31, 2014

How should a public service broadcaster be funded? This excellent article from the BBC looks at the financing of state broadcasters across a range of countries. The BBC is largely funded by the licence fee but as the article makes clear, there are many other options. The funding links back to the nature of broadcasting and the public good characteristics of much of the BBC's output.

Have a read of the article and then test your understanding of public and private goods using our Zondle quiz!

read more...»

Unit 1 Micro: Smoking Bans Improve Health

Friday, March 28, 2014

In 2007 a ban on smoking in enclosed public places was introduced in England - Scotland had introduced a similar measure a year earlier. Fresh evidence published in the medical journal The Lancet finds that enforced bans on smoking are now having a discernible effect on measures of public health.

read more...»

Unit 2 Macro: London House Prices continue to Surge

There seems little that is stopping the surge in London house prices at the moment but do you think the rapid acceleration of prices is good for either London or the wider UK economy? 

read more...»

Geographical mobility of labour in the UK

Saturday, March 22, 2014

One type of market failure that contributes to inequality and unemployment is the geographical immobility of labour

If the labour market really ‘cleared’ effectively, wages would equalise across the economy. Workers would drift away from regions with low wages and/or high unemployment towards areas where wages were higher and labour was scarce. 

Instead, we see wide disparities in earnings and pockets of regional unemployment - at the same time as skills shortages and wage inflation elsewhere.

Why are people finding it hard to move across the UK in search of work?

read more...»

How Coal Shortages Might Impact Indian Growth

Wednesday, March 19, 2014

The development of India, or its non-development relative to China, is an interesting topic, and one that Bob Hindle has already been blogged about in relation to its tax system.

However, there are other aspects of the Indian economy that will also impede its ability to grow, notably its lack (or should that be 'lakh'?) of coal.

read more...»

Unit 2 Macro: Hurdle Rates and New Housebuilding

Tuesday, March 18, 2014

The government wants more new homes to be built, so too do hard-pressed home-buyers facing a continued problem of low property affordability. But cautious construction companies are reluctant to press ahead favouring share buy-backs (returning money to their shareholders) and only a limited expansion of new building.

read more...»

Superbowl Adverts - Has the Viral Video Trumped the Big Event?

Saturday, February 01, 2014

The cost of a thirty second advertising slot at the annual Superbowl final is immense. This year advertisers are paying $4 million dollars for a 30 second advertisement during America's largest televised event. But big hits on the social web often produced at a tiny fraction of the cost challenge the conventional view that mega bucks spent reaching a TV audience remains a viable way of using the marketing dollars. This short news video from the Financial Times is a useful reminder of the importance attached to brand advertising by some of America's biggest consumer products.

read more...»

10 Questions on Income and Cross Price Elasticity

Friday, January 31, 2014

Here are ten revision questions covering income elasticity and cross price elasticity of demand

read more...»

10 Questions on Supply and Demand

Thursday, January 30, 2014

Here are ten multiple choice revision questions covering the topic market demand and market supply

read more...»

Unit 1 Micro: 10 Questions on Markets in Action

Here are ten questions for students wanting to check their understanding on markets in action

read more...»

Building a Future for Chocolate

Here is a short video on the challenges and opportunities facing cocoa producers across the world but especially in sub Saharan Africa which accounts for 70% of global production. Supply is struggling to keep pace with rising world demand and there have been some structural declines in production in several countries.

The FT's Emiko Terazono reports from Ghana on how chocolate manufacturers and traders are striving to boost cocoa supplies, which are coming under pressure from climate change and urbanisation amid growing demand for confectionery in emerging markets. Farmers are being encouraged to develop supplementary incomes and invest in sustainable production methods.

read more...»

Does Facebook have a Future?

So farewell, then, Facebook! That is the conclusion of a highly technical paper by two Princeton researchers, John Cannarella and Joshua Spechler, which received a lot of publicity in the press last week. The authors conclude that “Facebook will undergo a rapid decline in the coming years, losing 80 per cent of its peak user base between 2015 and 2017”.

read more...»

Unit 1 Micro: Information Economics - How Many Sugars in a Coke?

Sunday, January 05, 2014

Do consumers of carbonated soft drinks really know how much sugar is in their regular fix? This five minute Newsnight clip is ideal for showing when teaching aspects of the economics of information failure. Will "getting the information in people's hands" help them to adjust their lifestyles? What are the economic arguments for and against direct intervention in the market for carbonated drinks such as a tax on high sugar content products? What are the alternative options or should we simply let consumers make their own choices?

read more...»

The NHS: Blinded By Love

Thursday, January 02, 2014

The NHS is part of the British establishment just as much as tea, talking about the weather and sarcasm. This view through rose-tinted spectacles has prevented serious debate and clouded our judgment. Foreign visitors are now being charged to use our A & E services, yet they can still see GP's for free. This ludicrous half measure is just one example that we are blinded by love for our NHS. A situation has arisen in which any attempt from politicians to discuss much needed improvements for the current healthcare system is political suicide. This is hindering development.

read more...»

Unit 1 Micro: Revision on the Price Mechanism

Sunday, December 01, 2013

A streamed presentation on aspects of the price mechanism with links to three revision quizzes

read more...»

Unit 3 Micro: The Future of Gaming

Friday, November 29, 2013

The release of two major new iterations of games console including the PS4 is an opportune moment to take stock of the transformation of the oligopolistic computer gaming industry into one whose revenues now exceed films and where social gaming, connectivity and collaboration are features of an industry where dynamic efficiency is crucial. Paul Mason from Channel 4 news reports in this short clip.

read more...»

Unit 1 Micro: Revision Glossary on Markets

Here is an updated revision glossary covering key terms on markets and government intervention

read more...»

Unit 1 Micro: Housing Rent Controls

Tuesday, November 26, 2013

The cost of renting property in many parts of the UK continues to rise - would rent controls make any difference? Here is an updated Unit 1 economics revision presentation.

read more...»

Unit 3 Micro: Costs and Pricing for the PS4

Sunday, November 24, 2013

The launch of Sony's PS4 alongside Microsoft's XBox One signals the beginning of a highly intense competitive battle in the oligopolistic games console market. With both the new consoles being launched in time for the crucial Christmas sales period, pricing strategy is crucial in order to gain maximum market share.

In the US, Sony has priced the PS4 at $399 (retail). Of course that is the retail price. Distributors will be wanting to make their margin on each unit sold. So how much does it cost Sony to make a new PS4?

read more...»

Unit 1 Micro: Producer and Consumer Subsidies

Here is a revision presentation on the economics of producer and consumer subsidies as forms of government intervention in markets. There are a number of up to date examples highlighted together with an evaluation of the benefits and costs of subsidy payments. This is designed as a revision aid for unit 1 students taking their microeconomics papers.

read more...»

Unit 1 Micro: Mexico’s Water Farms

Wednesday, November 20, 2013

"The market will define our future" - the words of an organic farmer growing produce in Mexico City's water farms and which - according to this excellent video report from the Financial Times - have the potential to feed huge numbers of people living in the metropolis. Careful husbandry of the canals and surrounding farm land creates the opportunity for farmers to complete between seven and nine harvests a year, an interesting link to the concept of price elasticity of supply. The video reinforces the importance of human capital - detailed, specific knowledge of the growing conditions and calendar of crops that is handed down from one generation to another.

read more...»

Unit 4 Macro:Apps to Help Farmers in Ghana

Sunday, November 17, 2013

This BBC news report is superb background for students who want a mini case study of the potential of mobile technology in improving farm yields and incomes for farmers in developing countries. A 29-year-old developer from Ghana has created a mobile app that he hopes will transform the livelihoods of farmers and help address food shortages

read more...»

The Benefits of Choice: the Battle Never Ends

Friday, November 08, 2013

Do consumer choice and competition between suppliers improve the quality of outcomes for consumers? The answer might seem so obvious that it is hardly worth asking. But a powerful strand of political opinion is building up to an attack on the concept.

read more...»

An Introduction to Anchor Prices

Thursday, November 07, 2013

We are delighted to host on our blog this article from Alex Macarthur an upper-sixth student at Altrincham Grammar School for Boys. Alex enjoys is especially interested in ‘Behavioural Economics’. In this feature he looks at pricing anchoring in markets. This article was originally published in the student magazine www.lucigmag.co.uk

read more...»

Unit 1 Micro: Volatile Prices and Buffer Stock Schemes

Tuesday, November 05, 2013

Here is an updated revision presentation covering price volatility in commodity markets and the economics of buffer stock "price stabilisation" schemes. designed for unit 1 micro course

read more...»

Paul Ormerod: Energy and Emissions: Taxation or Technology?

Thursday, October 24, 2013

Energy prices are in the news. The recent actions of some of the energy companies can plausibly be described as provocative, no matter how well founded their decisions might be. They run the risk of provoking the ire of both the Opposition and the Government.

One interesting aspect of the debate is that it has become even clearer that decisions taken by Ed Miliband himself in the Brown government are partly to blame for our high energy bills. The plethora of green taxes and subsidies has become very expensive for consumers.

But how effective have such policies been? Not very much, seems to be the answer.

read more...»

Unit 1 Micro: Chinese Get into a Froth over Starbucks Prices

Tuesday, October 22, 2013

Where would you expect a Starbucks latte to be cheaper - in a coffee store in downtown New York or in a Starbucks store in China? Keep in mind that per capita incomes in China are around one tenth of those in the United States.

The answer may come as something of a surprise!

In a report on coffee prices that has caused something of a stir across social media platforms, the state-owned broadcaster CCTV reported that a medium-sized latte cost Rmb27 ($4.43) in China compared with Rmb19.98 in Chicago, Rmb14.6 in Mumbai and Rmb24.25 in London.

Starbucks responded that its pricing strategy was based on local market costs, including infrastructure investment, real estate and labour costs. It also added that its Asia-Pacific profit margin was for 14 countries, not just China. They added that each Starbucks market is unique and has different operating costs and that it would be inaccurate to draw conclusions about one market based on the prices in a different market.

The prices of imported goods in China are often raised because of the effects of import taxes (tariffs) - in this case the customs duty on roasted coffee beans is 15%. Add to that a sales tax of 17%.

read more...»

Unit 1 Micro: Cocoa Prices Surging Again!

Monday, October 21, 2013

After more than a year of relatively low prices, rising global demand for cocoa is a key factor behind a surge in the international price of cocoa beans, prompting fears that the traditional consumer splurge on chocolate treats during the Festive season will be noticeably more expensive this year! In this short BBC news video, some of the background to the rise in cocoa prices is explored. You can download the cocoa price chart below.

read more...»

Unit 3 Micro: Price Leadership in the Gas Oligopoly

Saturday, October 19, 2013

The market for retail gas supplies is mired in controversy and threats of direct government intervention to freeze prices should a new Labour government be elected in 2015. This week we have seen a classic example of the type of price leadership we expect to see in an oligopoly.


read more...»

Unit 1 Micro: Argos Tablet and Inferior Goods

The Guardian technology blog has given a less than glowing review of the recently launched Argos MyTablet computer - read Argos MyTablet review: cheap, nasty and frustrating to use - the price point says it all - £99 for a low entry level tablet supplied under the Bush brand name and marketed at younger members of the family. Surely this is another product to add to teaching examples of inferior goods? The discount tablet market is being fought over by major high street retailers - Tesco is selling the Hudl and now Argos has joined the battle. I'll be staying well away from this!

read more...»

Business Economics: A Golden Hour on Radio 4 Archive

Sunday, October 13, 2013

This is a cross-posting from the Business blog (written by Penny Brooks)

"The 20th Century was about dozens of markets of millions of consumers. The 21st Century is about millions of markets of dozens of consumers."

So said Joe Kraus, founder of a search engine called Excite in the middle of the 1990s. Never heard of it? That's not surprising; in 1999 it was a $6.7bn enterprise with hundreds of employees, but a year later the dot-com bubble burst and it disappeared from the market place. But this quote is one of in an article about Peter Day's Radio 4 Archive programme to be broadcast tonight, and already recommended by Michael Owen in his blog below; forgive me for this repetition, but this is such a brilliant article that it really merits a second look, and hopefully between us we will convince you of that!

read more...»

Peru’s Free Trade Agreement with China

Wednesday, October 09, 2013

Workers in Peru say they are suffering because of competition from cheaper imports. Chinese imports are stifling what was one of the largest clothing manufacturers in South America and a free trade agreement could make matters worse. A short video clip on this issue/

read more...»

Falling Coffee Prices - Farmers Switch to Oranges

Here is a familiar tale - sharply falling world coffee prices are causing the terms of trade to drop and threatening the commercial viability of coffee production among many of Indonesia's small scale coffee farmers. Can stronger marketing and investment in processing help these farmers move up the value chain?

The price of coffee in Indonesia has dropped to a third of the price from one year ago, due to an oversupply of it in the world's market. This has caused many coffee farmers in Indonesia to stop growing coffee and switch to other plants, such as oranges.

read more...»

Unit 1 micro - excess supply of lobsters in the US

Saturday, October 05, 2013

Too much lobster might sound like a problem which would be quite pleasant to deal with, but it is hitting the fishermen of the US hard, as this video shows. It could be a useful piece of application for unit 1 in teaching the problems of excess supply, and could be accompanied by questions such as:

Draw a graph to show what has happened to the equilibrium price for lobsters in the US

What is the shape of the supply curve on each day, when the fishermen land their catch?

How does the problem differ for lobster fishermen who fish in the warmer waters, and those who fish in the colder waters 'further west'?

What options do those fishermen have, in order to improve their level of income?

For later in the course:
What forms of government intervention might help to improve the level of income for the fishermen?

Theory of Price - exceptions that prove the rule

Tuesday, October 01, 2013

Perhaps you're starting to look at supply and demand, the start point of the theory of price in Economics. A good way to test your understanding might be to look at a few oddball examples which seem to fly in the face of the theory. In the title of this blog I'm using the phrase 'to prove the rule' to mean to test the theory. See what you think...

read more...»

Price Maximum Example - Milliband’s Domestic Fuel Cap

Sunday, September 29, 2013

Ed Milliband’s conference speech last week gave us one of those all-too-rare moments where we can illustrate a real (or potential) government policy with a standard economic diagram.

Mr Milliband clearly stated that, should the Labour Party win the next General Election (in 2015) they will cap the price of domestic fuel. His policy is aimed at restricting how much people would have to spend on energy so as to improve their general purchasing power as well as reducing business costs. The big losers would be the energy companies themselves who do not seem particularly keen on the policy. Mr Milliband argued that their profits were sufficiently high and, besides, they have been using the lack of competition within the market place to bolster their coffers.

Assuming that teachers have already covered the basics in Demand and Supply diagrams, this link will take you to a short (up to 10 minute) activity asking students to draw the ‘Price-Cap’ diagram and consider the economic arguments for and against the policy proposal.

Mobile phones - the impact on the economy, society and our personal lives

Thursday, September 26, 2013

Mobile phones have changed how we negotiate our relationships with family, spouses and close friends. Increased levels of mobile phone subscriptions are linked with improvements in education, gender equality and political participation, particularly in developing countries. They are also associated with higher economic growth.

read more...»

Unit 1 Micro: Scarcity and Abundance

Wednesday, September 25, 2013

AS economics student Ed Hardy offers his interpretation of this question: “Within a few years the common problems we associate with scarcity will be a thing of the past.” Do you agree?

read more...»

Bangladeshi Clothing Factories

Tuesday, September 24, 2013

Since the appalling fire a few months back at the Rana Plaza complex that cost the lives of more than 1100 people, there has been intense interest and scrutiny of working and living conditions of thousands employed in Bangladeshi clothing factories.

On Monday night the BBC programme Panorama broadcast an investigation into this and the findings were compelling and deeply disturbing.

In "Dying for a Bargain" Panorama discovered there have been at least 50 fires in Bangladeshi clothing factories in the last 10 months. Clothing factory workers filmed by #BBCPanorama were released at 2:30 am, 19 hours after they started. They were due back at 7am. You can see a clip of this here. Events uncovered at the Ha Meem Sportswear factory will no doubt have left executives at Lidl scrambling to find out the truth about what is happening at one of their major clothing suppliers.

read more...»

Unit 1 Micro: Tesco’s Hudl - An Inferior Good?

Monday, September 23, 2013

Tesco launches an own-brand seven inch tablet with the forgettable name Hudl - how will it be received by Tesco customers and the wider constituency of people looking for an affordable device? My first instinct is to add this product to my list of inferior products! Tesco says that it is every bit as good as the competition and you can get it in four different colours - what do you think?

read more...»

Phil Holden is back! Economics videos online

Thousands of students have been helped by the online videos on economics concepts produced and presented by Phil Holden. The good news is that he is back and delivering two new lectures each week. They are ideal for supporting your work in school and nailing the new concepts and relationships as the AS course progresses. Here are some of the early video pieces.

read more...»

Introduction to Micro: UK Housing Shortage

Tuesday, September 10, 2013

As part of our introduction to micro economics we have been looking at the shortage of housing in the UK. The chronic shortage of affordable and suitable housing raises many micro (and macro) issues and I find it a good example of an issue where different policy measures can be looked at in a non-technical way as a path into supply and demand analysis. It also covers the ground with topics such as scarcity, changing needs and wants, affordability, cost-benefit principles, opportunity cost and production possibilities.

read more...»

Unit 1 Micro: Factors of Production at Work in Mining

Sunday, August 25, 2013

Here is a great example of factors of production at work in the mining industry. The BBC's Linda Yueh has been on a tour of Mount Whaleback - an iron ore mine in the Pilbara region of Western Australia. The mining is taking place on an epic scale and the commodities industries have been a major source of economic growth for Australia in recent years.

read more...»

Economics at the Movies - The Moo Man

Friday, August 23, 2013

In a world dominated by hyper-productive (but often loss-marking) industrial milk farming here is a heart-warming, touching and rewarding documentary that has swept critics off their feet at film festivals during 2013. The Moo Man is a remarkable story of a maverick farmer and his unruly cows, filmed over four years on the marshes of the Pevensey Levels. In an attempt to save his family farm, Stephen Hook decides to turn his back on the cost cutting dairies and supermarkets, and instead stay small and keep his close relationship with the herd. How can a milk farmer operating on such a small scale compete and survive in today's world? The Moo Man provides some revealing answers!

read more...»

Unit 3 Micro: Will Blackberry Survive?

Wednesday, August 14, 2013

The global smartphone market is brutally competitive as the executives at struggling phone company Blackberry are finding out. Sales of their phones have been hugely disappointing for some time and the re-launch of their devices seems to have done little for Blackberry as they compete against Apple and Samsung, the dominant players in the industry.

read more...»

GM foods will be vital in feeding the future world

Thursday, August 08, 2013

Prince Charles and eco-warriors rail against them, but genetically modified crops are becoming the superheroes of agriculture, and they have special powers. Some are being developed to be pest-resistant, potentially saving the 50 percent of crops destroyed each year by pests. This means less pesticides, less run-off and less river pollution; this limits soil erosion, pertinent in developing countries where over-farming poses a greater problem. GM crops have avoided 200,000 tonnes of insecticide and the multiple sprays of fungicide that potatoes need. One promising development is of crops that will host nitrogen-fixing bacteria instead of needing vast quantities of nitrate fertilizers.

read more...»

Page 1 of 13 pages  1 2 3 >  Last ›


Enter your Email


AS Economics (Macroeconomics) Revision Guide

WOW! Economics 2014

50+ New Teaching & Learning Resources for A Level & IB Economics

AS, A2 & IB Economics Revision Notes

Latest resources

Resource categories Blog RSS feed Blog RSS Feed
© Copyright Tutor2u Limited 2013 All Rights Reserved