Economics CPD Courses

Economics CPD Courses Coming up this Term!- Book Your Places Now!

WOW! Economics 2015   |   Quantitative Methods (New Spec)


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


Higher of Lower? A fun way to learn predicted growth in GDP for the world’s major economies

Saturday, April 12, 2014

Here's a quick a fun resource to help students learn the predicted economic growth of the world's major economies.  Although a student wouldn't be expected to quote percentage growth statistics, it is always handy to have some figures ready to use as evidence or, at least, an understanding of the world's fastest growing states.

The game is called 'Higher or Lower' and is very simple.  You are presented with the name of a country (e.g. China) and the predicted growth in GDP (compared to 2013) for 2014, as calculated by the IMF.  You are also presented with the name of another country (e.g. United Kingdom).  Your task is to say whether you think that the UK's predicted GDP growth is either higher or lower than that of China.  Get the answer correct you earn a point and are presented with a third country and must predict whether their growth is higher or lower than that of the UK.  However, get an answer wrong, you are out of the game!  The maximum score of 37 (the number of countries in the database).  Play the game a few times and really start to get a feel for the statistics for the different countries.  The game is randomly set up so you can run it a few times a get a different sequence of countries each time.

Challenge your friends!  Alternatively, you can go to the table on slide 3 of the resource and learn all of the figures off-by-heart!

Click on this link to upload the game.  It is a Powerpoint-based game so you will need to have Powerpoint on your PC or Mac (versions beyond 2003).  When prompted you should 'enable' macros.  Sorry, this game does not work on mobile devices or OS like Android.

Information failure and the Tamiflu saga

Thursday, April 10, 2014

Here’s a good example of overlaps between market failure, government failure and the problem of asymmetric information contributing to these problems. The UK government spent £500m stockpiling the drug Tamiflu in the hope that it would help prevent serious side-effects from a feared flu epidemic. It turns out the drug would probably be no more helpful than paracetamol. But the bigger scandal is that Roche (who make the drug) broke no law by withholding vital information on how well its drug works (or doesn’t).

read more...»

Unit 4 Macro: Asian Growth Requires Less Inequality

The new annual report from the Asian Development Bank outlines what developing Asia needs to promote inclusive growth in the years ahead. Governments in the region should tackle widening inequality that is keeping millions poor, by using fiscal policy to help close income and wealth gaps and promote more inclusive growth, says the theme chapter of Asian Development Outlook 2014. The importance of equity in shaping future growth and development continues to gain momentum across the world and not just in the fast-growing Asian region.

read more...»

Unit 4 Macro: Africa Rising - RES Panel Event

Wednesday, April 09, 2014

Here are some notes taken from the recent RES panel event on the African economy

read more...»

Unit 2 Macro: Supply Side Policies and Competitiveness

Tuesday, April 08, 2014

A revision presentation used at the workshop in Dubai on aspects of supply-side competitiveness in the UK economy

read more...»

Unit 4 Macro: African Exports to China - Benefits and Costs

Preferential market access to China is providing an important growth-enhancing outlet for African exporters that find it difficult to break into industrialised countries’ markets. But there remain dangers that current export structures and national capacity constraints may further entrap Africa given its comparative advantage in primary resources and China’s comparative advantage in manufacturing products.

read more...»

Unit 4 Macro: Gender Inequality and Economic Growth

Removing the barriers to labour market participation that women face in many parts of the world will lead to substantial productivity gains, according to research by Marc Teignier, to be presented at the Royal Economic Society’s 2014 conference. 

read more...»

Unit 4 Macro: Economic Benefits of EU Membership

Thursday, April 03, 2014

Membership of the European Union (EU) has had a big positive effect on average incomes in all but one of its member countries. That is the central finding of research by Nauro Campos, Fabrizio Coricelli and Luigi Moretti, to be presented at the Royal Economic Society’s 2014 annual conference. They also find that the more financially developed countries have grown significantly faster after joining the EU.

read more...»

The Social Progress Index

Here's an interesting addition to the GDP debate, which has heated up a good deal over the last couple of years. Is GDP a reliable indicator of economic progress?  The Social Progress Index is another attempt at capturing more measures of development, so as to be a better guide to policy making.  It's what economist Diane Coyle calls a 'dashboard' approach to measurement.

read more...»

Unit 4 Macro: Focus on Rwanda

Saturday, March 29, 2014

The Rwandan economy comes under special focus in 2014 because it is twenty years since the genocide. This blog provides some summary growth and development data and links on Rwanda, a country that is attracting increasing interest from students and teachers as part of their development economics course.

read more...»

Scotland’s De-Globalised Economy

Friday, March 28, 2014

A century ago, Scotland probably had the most globalised economy in the world. Since then, especially since the 1960s, Scotland has de- industrialised, and because industry is so much more globalised than other sectors, the economy has also ‘de-globalised’.

read more...»

What’s happening to Chinese growth figures?

In a rather low key report on the BBC website this week, I found the shock news that China had a trade deficit of $23bn in February. This is alongside the HSBC Purchasing Managers' Index (PMI) which focuses on small privately owned businesses, and which gave a reading of 48.1 for March, compared to 48.5 in February - with any figure below 50 indicating a contraction in activity. 

And today there is a forecast of the 'official' PMI, which looks at the larger state-owned factories; although this is slightly over the 'expansion' measure of 50, it is only predicted to come in at 50.3 - and is subject to a 0.3 downwards correction to allow for seasonal patterns, according to Louis Kuijs, chief China economist at the Royal Bank of Scotland.

read more...»

Unit 4 Macro: A Tale of Two Mexicos

Thursday, March 27, 2014

Are you studying Mexico as one of your chosen countries of focus for the A2 growth and development paper for EdExcel? If so, this new report from McKinsey might be of particular relevance for you. Either way, there will be plenty of useful comment here on development and growth drivers and constraints.

Unit 4 Macro: Rebalancing the Economy

Wednesday, March 26, 2014

Re-balancing is an important aspect of the nature of the current recovery in the UK economy from the 2008-09 recession.

Economic re-balancing describes changing the balance of demand, output and jobs in different parts of the economy. 

read more...»

Unit 2 Macro: Growth is Not Enough

Tuesday, March 25, 2014

In this new RSA Short, Kate Raworth makes a powerful argument to look beyond economic growth alone for a true measure of prosperity and progress. Read more about Kate Raworth's work and her idea of doughnut economics by clicking this link http://www.kateraworth.com and follow her on twitter @KateRaworth 

read more...»

Unit 2 Macro: Regional Multiplier Effects with Siemens Investment

Here is a good example of an inward investment project likely to create a strong multiplier effect for the economy of East Yorkshire. 

read more...»

F585 Pre-Release Resources (and F583, F582 & F581 too)

Sunday, March 23, 2014

I thought it worthwhile sharing my resources which I have been collecting for students (and teachers alike). I have been promoting them on Twitter (@Economics_KSF) through scoop.it but for those of you not on there, the link for the scoop.it boards are here:

http://www.scoop.it/u/economics-kcsf

read more...»

UK Economy: Mind the Gap - Skills Shortages

Monday, March 17, 2014

Are skills shortages holding back the economic recovery? The Financial Times is running a video series looking at the problems businesses are having in recruiting people with technical skills. The apprenticeship programme is expanding but will it be enough to meet the growing gap between demand for and supply of engineers and other specialist jobs in industries surrounding precision engineering, nuclear power and many others? 

According to an article in the Financial Times:

"Migrants are filling a fifth of jobs in industries such as oil and gas extraction, aerospace manufacturing and computer, electronic and optical engineering because of a lack of skilled British graduates."

read more...»

Corruption and the economy

Pub economics often explains the plight of poor countries in terms of the problems posed by corruption. That approach might have some value, and to raise the quality of your analysis of this topic, it’s helpful to say why and how it might arise, and the effects it might have. Rich countries are also vulnerable of course.

The Economist has a really helpful couple of articles on this topic, which it calls ‘crony capitalism’.

read more...»

Unit 2 Macro: Ageing Infrastructure and Economic Growth

Saturday, March 15, 2014

Here is a revealing quote from a special study published in March 2014

"Simply put, too much of the city’s essential infrastructure remains stuck in the 20th Century—a problem for a city positioning itself to compete with other global cities in today’s 21st Century economy."

Which city do you think this report was referring to?

read more...»

Unit 2 Macro: UK R&D Spending Remains Low

Thursday, March 13, 2014

For years the government has tried to lift research and development spending as a share of national income - but seemingly to no avail. The latest data finds that the UK is spending less on R&D than any other EU country. What might this mean for the supply-side competitiveness of the economy? 

The data finds that

read more...»

Life is better now – despite the crisis

Friday, March 07, 2014

Here’s a great topic for an economics debate. National income is still lower than before the financial crash. We have a ‘cost of living crisis’. Yet it’s possible to argue that life is better now than it was in 2005. How can that point be made without being laughed out of the room?

read more...»

UK Economy: Mind the Gap: London v the Rest

Tuesday, March 04, 2014

Mind the Gap! Evan Davis has produced two superb programmes on the regional imbalances in the UK economy. In the first he focuses on the agglomeration / network economies of scale that help to explain the skew in business investment towards the capital. In the second he looks at which cities elsewhere in the UK might be drivers of renewed growth of incomes, investment and growth! Here are the links:

Mind The Gap Episode 1 - click here

Mind The Gap Episode 2 - click here

read more...»

Unit 4 Macro: Low Investment Stifles the World Economy

Six reasons for low business investment are advanced in this article - private sector capital spending is a key driver of growth - why have companies been reluctant to authorize investment projects despite an environment of low interest rates?

read more...»

Some Topical Issues in Trade and Development

Monday, March 03, 2014

I was delighted to give a talk to A2 economists at Wilson's School in Surrey today covering some aspects of trade and development economics. In particular we looked at the work of Hidalgo and Hausmann and their newly published Index of Economic Complexity. The slides from my talk are streamed below.

read more...»

Quiz on the Index of Economic Complexity

Sunday, March 02, 2014

The Atlas of Economic Complexity is a new book (perfect for the coffee table) from Richard Hausmann and Cesar Hidalgo. It maps out the degree of complexity of individual economies around the world and provides a hugely visual and interesting insight into the importance of knowledge in shaping the future prosperity of countries in the global economy. I have put together a 10 question quiz on some of their key results - a useful activity I hope for students interested in the commodity composition of trade of developed and developing countries. Have a go!

read more...»

Unit 2 Macro: Economic Growth

Here is a revision presentation for an AS Macro topic - economic growth

read more...»

A minimum wage in Germany - but the low-skilled jobs are in the UK

Wednesday, February 26, 2014

In Germany the government has reluctantly agreed to introduce a minimum wage of €8.50 (£6.98) per hour. Angela Merkel's conservative Christian Democratic Union party is opposed to the idea, but need to make concessions in coalition negotiations with centre-left parties such as the Social Democrats, who have campaigned for a national minimum wage.

read more...»

Growth and Development Challenges and Opportunities for Mexico

In this independent research assignment, Year 12 Economist Doug Feagin considers some of the factors influencing the macroeconomic performance of Mexico - a fascinating country and one of the MINT cluster of countries discussed by Jim O'Neill in his recent programmes for the BBC. 

read more...»

Manufacturing in Africa

Monday, February 24, 2014

Economics coverage of Africa can be a bit bleak (though perhaps it shouldn't be, with incomes rising rapidly in parts of Africa). There are often bad news stories, particularly in terms of human development indicators. News of economic progress often centres on the exploitation of primary commodities, with all the risks and issues that presents.

If you hope Africa will experience development, you’re likely to want to see sustained and robust economic growth. That, in turn, will require industrialization.

read more...»

German revival exposes deep fissure within Europe’s economies

Thursday, February 20, 2014

In the 1990s and early 2000s, Germany was seen by many as the new ‘Sick Man of Europe’. Between 1991 and 2005, GDP growth averaged only 1.2 per cent a year, compared to 3.3 per cent in the UK. Since then, the German economy has revived dramatically. The recovery in the German cluster of economies from the financial crisis has been as strong as in the United States, with the previous peak level of output being regained in 2011. Germany itself experienced virtually no increase in unemployment in 2008 and 2009, its exports are at record levels, and even the crisis in the Euro area has not prevented expansion in both output and employment.

read more...»

Robert Peston - How China Ruled the World

Sunday, February 16, 2014

Robert Peston looks at the astonishing investment in urban infrastructure in China in recent years - 30 new airports, 26,000 miles of motorways and a new skyscraper every five days have been built in China in the last five years - required viewing for those interested in a key aspect of Chinese economic growth and development. Link to How China Ruled the World (BBC World)

read more...»

10 Questions on Growth Economics

Monday, February 10, 2014

Here are some revision questions on economic growth designed as a short revision quiz for A2 macro students - have a go!

read more...»

Pay and Productivity

David Smith's weekly column in the Sunday Times yesterday is worth getting hold of, to study the conundrum around stagnant productivity and rising employment. He uses data from the ONS to look at average weekly real wages, which started falling in 2008 and are still falling now, to consider whether this year will show a turnaround in real incomes.

read more...»

Unit 4 Macro: Is Norway suffering from Dutch Disease?

Sunday, February 09, 2014

Norway has for many years recorded an enviable macroeconomic performance. It regularly tops the international rankings for the Human Development Index (HDI) and it has one of the highest figures for GNI per capita (PPP) among developed nations. It records huge current account surpluses in excess of 10% of GDP each year and strong growth and surging revenues from oil and gas production have given the Norwegian government a fiscal position that many other countries would die for!  Unemployment is the lowest of any European country.

That said there are some signs that the economy is suffering from an over-dependence on oil and gas - it is at risk of the Dutch Disease? 

The Dutch Disease is the idea that economic growth from exploiting and exporting natural resources can crowd out investment in other sectors, in part due to a strengthening exchange rate which causes a sharp rise in relative unit labour costs. High wages are also seen as a factor behind a trend decline in the average hours worked and a rise in the drop-out rate from high school education. 

Manufacturing wages in Norway have climbed by more than 150 per cent since 1997 against just 50 per cent in the US and Germany They are now 60-70 per cent higher than the weighted average of Norway’s trading partners, meaning “that for every hour worked here we need to be 60 per cent more productive”. (FT, 7 Feb 2014)

read more...»

UK economy: Tidal Lagoons

Friday, February 07, 2014

Cost benefit analysis, economies of scale, energy economics, regional development, economic growth, competitiveness ... there is a veritable a tidal wave of applied economics in this article from the Guardian on plans for Tidal Lagoon Power.

Unit 4 Macro: Eurasia and Natural Resources

Tuesday, February 04, 2014

Natural resource economics are applied in this new World Bank blog to the Eurasian region - plenty of overlap with your studies on the issue in the context of sub Saharan Africa and other parts of the world. Click here for the blog article. 

Click here for a blog article on the natural resource curse from Graham Watson (2012)

Our streamed revision presentation on the topic is below

read more...»

Unit 4 Macro: Development Progress for the Ivory Coast

Sunday, February 02, 2014

The BBC Africa Report looks at the importance of largely French funded infrastructure projects as a driver of growth and development in the Ivory Coast. But the economy is becoming more open to investors from other countries. Some of this investment may come from Japan - read this article

Related article - focusing on the mining boom in the Ivory Coast - Ivory Coast hopes for golden future as mining sector opened up

read more...»

Building a Future for Chocolate

Thursday, January 30, 2014

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...»

UK Boom and Bust?

Wednesday, January 29, 2014

In this short interview from the Financial Times, John Authers discusses with Roger Bootle, managing director of Capital Economics about the sources of the resurgence in growth in the UK economy. Bootle argues that there is little sign of economic re-balancing, consumption is the main driver of recovery and net exports are subtracting from growth at the moment. 

The current account deficit is widening - Bootle find this a deeply depressing shift and hints that the UK economy remains heavily dependent on exporting to weak-growing European markets.

read more...»

Imports are good too!

Monday, January 27, 2014

We are often (quite rightly), talking about Britain’s disappointing export performance. There are lots of good reasons to promote exports – an injection into the circular flow of income and the X in C+I+G+(X-M)

But don’t fall for the trap of thinking that exports=good and imports=bad. In the final analysis, one of the main reasons for exports is to pay for imports. Imports play a crucial role in making our economy more efficient.

read more...»

Macro Policy Challenges in India and Japan

Sunday, January 26, 2014

My A2 macro students are now looking at some fascinating macro policy challenges facing a range of countries. This week they choose one from two set assignments. 

The first offers them an opportunity to analyse some of the causes of high inflation in India and consider how much of a threat it is to India's continued growth and development. 

A second assignment looks at Abenomics in Japan and whether it can lift the Japanese economy out of over two decades of slow growth and deflationary pressures. I am hoping that there will be some interesting insights allied to good A2 macro analysis as students crack on with their independent research. 

Download the assignment sheet below and I have added in some suggestions for further reading on the two topics

read more...»

Working for the Few - Development and Inequality

Saturday, January 25, 2014

Notes from a talk given by Ricardo Fuentes-Nieva (Head of Research at Oxfam) at the Marshall Society Economics Conference in Cambridge in January 2014

read more...»

The Emerging World and Poverty - Where Next?

Notes taken from the Marshall Society Economics Conference  - this panel session focused on growth and development issues in South Korea and sub Saharan Africa

read more...»

Poverty: New Thinking About an Old Problem

Here are some notes taken from a talk given by Peter Coy, Economics Editor for Bloomberg Businessweek, at the Marshall Society Economics Conference in Cambridge in January 2015

read more...»

30 Most Innovative Countries in the World

Friday, January 24, 2014

Successful innovation is a driving dynamic of competitive businesses and countries. Bloomberg Rankings recently examined 215 countries and sovereign regions to determine their innovation quotient. They have narrowed this down to thirty countries and the results are available through this Bloomberg slideshow. Which nation comes first?

Click here to find out

read more...»

The ‘output gap’: another piece of economic mumbo-jumbo

Thursday, January 23, 2014

The concept of the 'output gap’ is central to mainstream macroeconomics. It is not merely of academic interest. 

The Office for Budget Responsibility (OBR) has a specific requirement to estimate the output gap, which it defines formally as “the difference between the current level of activity in the economy and the potential level it could sustain while keeping inflation stable”. 

The output gap is a key consideration for central banks around the world including the Bank of England. If output is well below its potential, nominal interest rates should be kept low, to try to stimulate the economy. And a large output gap should keep cost and price inflation low. Prices are hard to put up in a depressed economy. 

See: http://www.bbc.co.uk/news/business-23145755 for a discussion of the changes made to the policy of forward guidance.

read more...»

Capitalism: an engine for progress

Wednesday, January 22, 2014

It's the time of year when many commentators are going back to basics and asking if our dominant economic model - free market capitalism - is a force for good in the world.

read more...»

David Rowan on disruptive entrepreneurs and innovators

Monday, January 20, 2014

We have been discussing the economics of innovation in class in the last few days. I came across this short talk given by David Rowan, editor of Wired magazine. What sets disruptive entrepreneurs and innovators apart from the rest? In his INK talk, David Rowan, editor of Wired UK, asserts it’s a “healthy disregard for the impossible” and offers nine tips for cultivating that mindset.

read more...»

Page 2 of 15 pages  < 1 2 3 4 >  Last ›


Enter your Email


WOW! Economics 2015

Dates and Locations announced for WOW! Economics 2015

AS, A2 & IB Economics Revision Notes

Latest resources

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