The European Union is bringing in tough new laws covering the collection and recycling of the growing mountain of electrical waste - also known as e-waste. From 2016 - for every hundred tonnes of electrical items put on the market during the previous three years member countries will have to collect and recycle 45 tonnes of e-waste. The EU directive provides an opportunity for businesses that can recycle and reuse electrical products and their many component parts - the high global prices for essential raw materials gives added impetus to the challenge to tackle the e-waste problem. This news video also looks at entrepreneurial activity in recycling waste in India.read more...»
The milk industry is in the news once again with some dairy farmers threatening to go on strike and limit milk supplies in protest at cuts in the wholesale price of milk offered to them by the major milk processing businesses. I have put together some video resources available from different web sources and built them into a Storify slideshow, as more videos are added the slideshow will be updated automatically.
A tax on plastic bags in Wales has seen the number given away drop by sizeable amounts according to this news report Since 1 October 2011, there has been a minimum charge of 5p on all single use carrier bags.
The Welsh government acted in a bid to encourage re-use of bags and therefore lower demand for single-use free bags. The justification was on economic and environmental grounds:
Dambisa Moyo was on great form when she spoke to the Economics Teacher National Conference in London last week. Her new book Winner Take All investigates the causes and consquences of rising global demand for commodities. In particular Dambisa Moyo predicts increasing geo-political tensions and conflicts as countries scramble to secure ownership and supplies of land, water, energy and minerals. In this blog I have linked to some of Dambisa’s recent media appearances as Winner Take All was launched in the USA and here in the UK.read more...»
A potentially important moment for the contestability of the tablet market. Technology giant Microsoft has unveiled its touchpad tablet computer. The “Surface” will face tough competition from Apple’s iPad and many other devices including those made by Samsung. These video resources provide some background. The Surface tablet computer will not be available until the Autumn on 2012.read more...»
Alcohol-related accidents are the leading cause of death and serious injury for victims of car crashes in France and the government has decided to introduce a strong behavioural nudge by making it compulsory for every car to have a portable breathalyser kit in their vehicles or risk a fine. This applies to every vehicle including those driven by tourists. Vehicle owners will have until November 2012 to get used to it before the fines are imposed.
Having a breathalyser in the glove box or on the front passenger seat might well be an effective reminder for people before they turn on the ignition. Reminders of our mortality and/or our morality can often prime us to make safer, better choices. I applaud the French government for introducing this new law. All motorists must also have with them a high-visibility safety vest and a warning triangle.read more...»
This news report from drought-stricken Eastern Kenya looks at the potential of drought-resistant seeds in maintaining farm yields in a region afflicted by extreme poverty and malnutrition. The seed has been locally produced and distributed to farmers across lower Eastern Kenya at a reasonable price and promises good yield, early maturity and resistance to common diseases. But farmers still face many challenges in making it work.read more...»
The poor summer weather has hit many businesses across the UK and the flash flooding has caused havoc for many communities. This BBC news video looks at some of the businesses damaged by the heavy rain. But can you think of businesses that will have benefitted from the deluge?read more...»
The introduction of a carbon tax in Australia has become one of the most hotly debated political and economic issues for many years in that country. The economy has enjoyed strong growth in recent times buoyed by rising demand for and prices of many of Australia’s huge endowment of natural resources.
Under the new carbon tax, around 300 of the worst-polluting firms to pay a A$23 (£15) levy for every tonne of greenhouse gases they produce.
Will a carbon tax threaten this growth? Or will it prove to be an inspired decision - helping to pave the way for greener growth and a faster pace of innovation not least in renewable energies and low-carbon goods and services?read more...»
Channel 4 news reports here on how CCTV and other technologies are being used to monitor fishing in the north sea in a bid to scale back the horrendous amount of fish discards. This happens when fishing vessels throw back dead fish into the water when a catch exceeds the quota - a terrible waste of an already scarce resource. The average European fishing trawler discards 38 per cent of its catch - for some species of fish 90 per cent are thrown away but with the aid of technology this can be reduced to less than 1 per cent.read more...»
Here is a short 35 slide revision presentation on government intervention in markets designed for AS microeconomics revisionread more...»
A slide share revision presentation on price elasticity of supplyread more...»
A slide share revision presentation on elasticity of demandread more...»
Here is a slide share presentation on the price mechanism in action focused in students taking their AS microeconomics papers.read more...»
A revision blog on developments in international rice pricesread more...»
Revision Blog on Price Elasticity of Supplyread more...»
A revision blog on income elasticity of demandread more...»
A revision blog on recent developments in the international cocoa marketread more...»
Here is a revision presentation which should be useful for AS economists revising for core microeconomics topics
Link below for related articles on global food price volatility and world food price inflationread more...»
Here is a selection of a recent blog resources on topics that appear on the core Unit 1 Syllabus focusing on changing market prices and examples of interventions to address perceived market failuresread more...»
Here is a ten question quiz on elasticity of demand to give you a little extra variety in your revision!read more...»
The campaign for a living wage has gained renewed prominence in the last year or so. Students and teachers wanting to know more about the minimum and the living wage debate might find this background blog from Channel 4 news relevant and useful. More here on the living wage from the Citizens UK web page.
Boasting a steering wheel that doesn’t steer, an in car radio that is an optional extra and acceleration powers that - on a good day - can take you from 0 to 60 in less than three minutes, the Lada has for a long time been a figure of fun in global motoring circles. But production is coming to an end following a collapse in sales. As is often the case, news of the demise of the Lada has prompted increased interest among younger urban consumers whose DNA is to go against the grain and drive something that is sturdy, mercifully free of corporate design features and most of all, tremendously cheap.read more...»
I have put together a unit 1 micro markets and market failure question focusing on the economics of motorway congestion and road tolls. It is available as a pdf download if colleagues would like to take a look. I will post some suggested answers in a few days and link back to this blog.read more...»
In a fresh move to reduce consumption of cigarettes, legislation has come in force banning the displays of cigarettes for sale in large retail stores. The display ban will apply to shops of more than 280 sq m (3,014 sq ft). Newsagents and small stores can display cigarettes until 2015, giving them time to refit shelves and cabinets.. It is part of the armoury of interventions that have been tried over the years to change consumer behavioural - from real terms increases in cigarette taxes to bans on advertising and ever-stronger advertising and health campaigns. The focus of the ban is to influence younger smokers by removing cigarettes from point of sale display - will it be effective?
This news report below from Al Zajeerah looks at the new measureread more...»
Here is a revision presentation offering ideas for stronger evaluation and analysis in your AS and A2 economics exam papers. Ten strands are suggested for students who want to build really good answers especially to evaluation questions.read more...»
The supply of health care in the UK is an important economic, social and political issue. Demand for health care treatments grows year by year as the population expands, ages and as incomes rise. For millions of people private health care is regarded as a necessity even though the NHS provides a vast range of services free at the point of use. Treatments such as cosmetic surgery, hand surgery, laser eye treatment, physiotherapy, weight loss services and hip and knee replacements are offered by a range of private sector providers in addition to state health care facilities.read more...»
What is the connection between economies of scale and the minimum efficient scale?read more...»
Here is a planned answer to an exam question
“Discuss how the price elasticity of supply of coffee might differ in the short run and long run.”read more...»
Why does the law of diminishing returns imply that average total cost is “U-shaped” in the short run?read more...»