Economics CPD Courses in June 2014

Economics CPD Courses in June 2014 - Book Your Places Now!

ETNC 2014   | New to AS & A2 Economics | WOW! Economics 2014


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


Lindau Nobel Economics Talks - The Labour Market

Thursday, July 24, 2014

This Mini Lecture discusses issues of labour productivity, low-wage work and economic growth of emerging markets.

read more...»

2014 HDI Report focuses on Vulnerability

Each year the Human Development Report published by the United Nations gives a special focus on a particular issue related to development. In 2014 that issue is vulnerability.

To quote from the opening of the report:

"Real progress on human development, then, is not only a matter of enlarging people’s critical choices and their ability to be educated, be healthy, have a reasonable standard of living and feel safe. It is also a matter of how secure these achievements are and whether conditions are sufficient for sustained human development. An account of progress in human development is incomplete without exploring and assessing vulnerability."

read more...»

United Queendom Scottish Independence as a Romantic Comedy

A new online comedy series launches on Thursday 24th July! 

The series tells the story of Scott and Adrian, two lovers on the verge of break up. Scott runs an oil company – bath oils that is – and Adrian spends their money as if it’s his own. Will they work things out or will Scott go it alone? All will be revealed when the series launches this August in time for the Scottish independence referendum.

read more...»

Ed Miliband dismisses Keynes, but the Laffer Curve takes centre stage

Tuesday, July 22, 2014

Ed Miliband has told his party's national policy forum that the party must change policy from their traditional approach of raising spending and taxes, saying ''Higher spending is not actually the answer to the long-term economic crisis''. Some members of the forum wanted to force a vote for an immediate increase in public spending should Labour win the next election, but proposals committing Labour to new spending on housing and school meals were withdrawn at the forum in Milton Keynes.

So that's one economic theory cast aside.

read more...»

War and Sanctions

Violence is obviously the worst element of conflict, but the economic devastation can also be huge. Economists should be reflexively anti-war. Jeffrey Sachs discusses the waste of war on Project Syndicate. You can use the topic of war to introduce economic ideas like opportunity cost, fiscal stimulus and supply side shocks.

I was reading about sanctions and trying to think how they affect economies. They are obviously intended to reduce the benefits of specialisation and international trade for their target.  And like almost all trade restrictions, they hurt the economies implementing such policies too.

read more...»

More ideas like HS3 are needed to solve our regional problems

In London and much of the South East, the recovery has been well under way for a considerable time. House prices boom and restaurants are packed. The economic data for the UK as a whole looks just as encouraging, with employment being at its highest ever level.

read more...»

Siemens Boss on possible redindustrialisation of the UK economy

Sunday, July 20, 2014

This interview with Jurgen Maier of Siemens is well worth reading on several different levels. It challenges the conventional wisdom that UK will always lag behind Germany in terms of high value added manufacturing; it refers to the economics risks of Brexit (Britain leaving the EU) and it also stresses the importance to the UK of foreign investment from German businesses many of which have been in the Uk since well before the first World War - Siemens and Bosch are two well-known examples.

read more...»

Export Complexity - Hidalgo and Hausmann

Wednesday, July 09, 2014

Data on export patterns for goods from countries around the world provide a fascinating window on the degrees of complexity that nations have achieved. There is growing interest in the significance of knowledge capital or know-how in lifting productivity, competitiveness and improving trade performance for economies at different stages of development. Below is my selection of countries.

There then follows links to videos from Cesar Hidalgo and Riccardo Hausman on their theory of productive knowledge - and in particular how it is acquired at the level of the individual, the level of organizations, and cities, regions, countries and societies.

read more...»

Numeracy and Quantitative methods in the new Economics specifications

You will probably be aware that assessment in the new AS and A level in Economics (starting in September 2015) will have a much greater emphasis on numeracy and quantitative methods. 20% of marks will be awarded to answers based upon number work and interpretation of graphs, charts and tables.

Whatever your view on the merits of this change, there is no doubt that it brings one of the biggest challenges to teachers of economics since the year 2000. Tutor2u have put together a team of experienced teachers with different awarding body knowledge to create resources and give advice through a series of CPD events during the 2014-2015 academic year.

If you look through any of the specimen papers from the three main awarding bodies you won’t be surprised to see a huge emphasis on calculation of percentages, use of index numbers and the need to understanding fractions and ratios. You can already imagine the increased use of elasticity calculations and having to work out costs and revenues.

Did you know however (depending on your exam board choice) that your students may have to calculate opportunity cost ratios for comparative advantage, dependency ratios, quantity theory of money, terms of trade index, national income multiplier and marginal propensity to consume? Imagine a marginal social cost/benefit diagram with figures included! Have you ever asked students to convert money in real terms? How do you think they will cope with medians and quartiles?

Our team are working on resources and advice to hand out to teachers for our ‘New to A level Economics – Quantitative Methods’ CPD days. Details about times, dates and locations to follow soon.

Antidote to Macro Pessimism - Gerard Lyons on Consolations of Economics

Friday, July 04, 2014

In these short interviews with the Financial Times, economist Gerard Lyons highlights some of the key drivers of the global economy and he paints a fairly positive picture of the prospects for developed countries in an ever-changing world economy. In the second interview, Gerard Lyons, 'The Consolations of Economics' author, discusses with John Authers whether the system is safely retuned, and whether it can boldly go into a universe of greater growth opportunities.

read more...»

Development Economics: Rwanda’s Journey to Prosperity

Saturday, June 28, 2014

With World Bank Group support, millions of Rwandans are on their way to integrating to regional power and transport networks, boosting their agricultural productivity, and delivering results for their families. This is a short info graphic video from the World Bank together with some related links to useful resources on the Rwandan economy.

read more...»

The ‘Good Country Index’ adds to the economic progress debate

Tuesday, June 24, 2014

I am often writing blogs on the debate over the limitations of GDP as a measure of economic and social progress, most recently with coverage of the Social Progress Index. Here’s another approach, the Good Country Index. It's a deceptively simple concept, yet quite powerful.

read more...»

RES Essay: Does immigrant labour benefit or impoverish the United Kingdom?

Sunday, June 15, 2014

Question six for the RES competition in 2014 is bound to produce a large number of answers. Labour migration is an important economic, social and political issue and many students will have clear views on the issue. So what will make an essay stand out from the crowd?

read more...»

2014 World Cup Finalists - Human and Economic Development Indicators

Drawing on data from the 2013 Human Development Report, here are the 24 countries in the 2014 World Cup ranked according to the Human Development Scores

read more...»

The Laffer Curve and UK Corporation Tax

Wednesday, June 11, 2014

I was drawn to a Telegraph headline, Europe is jealous as Britain resurrects the Laffer Curve. According to the author, by next year Britain will have the equal lowest headline rate of corporation tax in the G20.

The Laffer Curve offers an intoxicating promise to politicians. It suggests that if the tax rate is too high (above t* in the diagram above) then a cut in tax rates will actually boost the amount of revenue raised!

read more...»

Higher or Lower Game - World Cup addition

Tuesday, June 10, 2014

You may have already seen my blog/tweet sharing the 'Higher or Lower' game.  Below you will find a brand new version of the game featuring the 32 countries taking part in the FiFA World Cup starting tomorrow.

The aim of the resource is to get a feel and understanding of some of the important statistics relating to the economic performance of the countries.  In this addition, students can attempt to work out whether the 'higher' or 'lower' statistic relates to predicted GDP growth, unemployment, inflation and Government debt alongside the country's FiFA world ranking.

Teams are presented with the name of a country and its statistic in their chosen category.  They are also presented with the name of a second country.  They must say whether the second country has a higher or lower statistic.  This is repeat a further three times allowing the team to score a maximum of 4 points per round.

Have some fun and get a feel for countries statistics at the same time!  Is there any correlation between economic and football performance?

Click here to download the file.

Note:  The economic statistics accredited to England are those of the entire UK.  Sorry, I was unable to find the statistics relating to just England!

ECB sets negative interest rates - what does this mean?

Friday, June 06, 2014

The European Central Bank implemented a negative interest rate policy yesterday. Whilst we have become very accustomed to a low base rate in the UK, the ECB policy seems extraordinary.

The policy has come about due to a continued concern over the economic situation in the Eurozone.  Growth remains weak, unemployment is high and inflation sits below the target of 2% in many of the 18 countries.  The ECB is unlikely to follow the UK (and others) strategy of quantitative easing and so is left with fewer choices.

By setting a negative interest rate, the ECB wants to discourage banks from keeping larger reserves and promote a greater level of lending (and thus stimulate economic growth).

If you want to download a short Powerpoint slideshow that explains the policy and its possible consequences then click on this link.

The Value of Drugs and Prostitution

Thursday, June 05, 2014

The Office for National Statistics (ONS) has just increased the size of the British economy by nearly £10 billion, a figure equivalent to around 0.7 per cent of the economy as a whole. George Osborn has not waved a magic wand. We have not suddenly become more productive. The reason is that, for the first time, estimates of the value added by drugs and prostitution have been included. These activities are included in an economic sector called ‘miscellaneous goods and services’, which, as an indicator of its diversity, already contains things like life assurance and post office charges.

read more...»

Unit 4 Macro: Growth, Trade and Development in Sub Saharan Africa

Sunday, June 01, 2014

This blog entry will feature frequently updated revision resources on economic growth trade and development aspects for a range of sub Saharan African countries

read more...»

Unit 2 Macro: Sex and Drugs included in Measured UK GDP

Saturday, May 31, 2014

The Office for National Statistics has, for the first time, included estimates of the impact of prostitution and illegal drugs in the national accounts. By the ONS’ reckoning they add about £10bn to the British economy. The assumptions used in making the calculations have been the subject of some criticism. I have summarised below the assumptions behind the estimated spending / income and output effects of including prostitution:

read more...»

Unit 2 Macro: Fears for Portugal’s ‘lost’ generation

High rates of long term youth unemployment will have hugely significant economic and social costs - this short news report from Al Jazeerah news looks at the issue of youth unemployment in Portugal

read more...»

The link between unemployment and depression

Thursday, May 29, 2014

If you are like me, teaching unemployment starts with explanation of its causes and then moves on to its impact (before discussing possible solutions).  I've always found the 'impact' aspect relatively straight-forward; it would seem students find the concept of loss of output and its consequences fairly logical.  Discussing the long-term effects can be more difficult as young adults in full-time education may not be wholly empathetic towards the outcomes of job loss.

An interesting report came out from the Nuffield Trust recently (a copy is available from this link) about the increase in the prescription of antidepressants.  The increase from 15 million items prescribed in 1995 to 40 million items in 2012 is quite large but the report shows that the biggest jump has come during the economic downturn since 2008.  The report hypothesizes on a number of causes of this increase but does suggest a link between unemployment and the increase in prescription of antidepressants.  Perhaps it isn't a quantum leap to illustrate that there is a relationship between unemployment and depression but evidence of this nature may be valuable when making a point about the impact of unemployment (and its cost to society as a whole) in the class or as part of an exam answer.

Welfare benefits and job search - evidence from Norway

Wednesday, May 28, 2014

Unemployment benefits can address the failures of credit markets by enabling unemployed people to spend more time searching for a new job – even in countries like Norway, which have an equitable wealth distribution and a generous welfare state. That is the central conclusion of research by Christoph Basten, Andreas Fagereng and Kjetil Telle, published in the May 2014 issue of the Economic Journal.

read more...»

Two cheers for the global recovery, but doubts remain in the Euro zone

Saturday, May 24, 2014

Worries are growing about some of the countries in the Euro zone slipping back into double dip recession. By convention, a recession is when national output (GDP) has fallen for two successive quarters. But this is far from being news. In a substantial number of economies, output is lower than it was not just two quarters ago, but three whole years ago, at the start of 2011.

The quarterly numbers have wobbled around up and down over this period, but they are now unequivocally below the 2011 figure in Greece, Ireland, Italy, Portugal and Spain. No surprises there. But the list goes on to include Finland, the Netherlands and the Czech Republic.

read more...»

Macroeconomics - Why has the UK recovered so fast?

Tuesday, May 20, 2014

Just in time for the unit 2 exam, and in good time for unit 4 students, this week's Deloitte Monday Briefing looks at the reasons behind the rapid recovery of growth in the UK. The Monday Briefing always makes very good reading, and often features analysis which is written with great clarity by Ian Stewart, their Chief Economist in the UK - to subscribe and receive an email every week, visit www.deloitte.co.uk/mondaybriefing

Below, I have copied much of this week's briefing with a little additional comment to emphasise the role of monetary and fiscal policies, and to look forward in order to consider how these may be evaluated in order to assess the contribution they may make in the near future.

read more...»

25 Questions on the UK Economy (Exam revision)

Monday, May 19, 2014

Here is a 25 question general knowledge quiz on the UK economy - great for last minute revision! Good luck!

read more...»

Unit 2 Macro: PPP - What $1 Buys in China

Sunday, May 18, 2014

This short World Bank info-video looks at what $1 buys in China. In China, over 98 million people live on less than 6.3 yuan ($1) per day. 

read more...»

Unit 2 Macro: AS Macro Course in a Nutshell

Here is a listing of many of the presentations linked to our Quick revision guide for AS macro - I hope they are useful for the exam in the coming week

read more...»

Thomas Piketty on Economic Inequality

Saturday, May 17, 2014

There has been huge interest in the new book by Thomas Piketty entitled "Capital in the 21st Century". This blog entry will link to some reviews, news articles and short videos on Piketty's ideas and policy prescriptions. In "Capital," French economist Thomas Piketty explores how wealth and the income derived from it magnifies the problems of inequality. At the heart of it is a simple equation R > G - the rate of return on capital is higher than the rate of economic growth. Naturally there is a fierce debate about the data and his methodology!

Recent news articles:

Bad maths in Piketty's capitalism critique? (BBC)

Are we living in the second gilded age? (Linda Yueh, BBC)

Articles on Thomas Piketty from the Guardian

Review of "Capitalism in the Twenty First Century"(The Independent)

read more...»

Inequality in New York - Can New York bridge the income inequality gap?

Friday, May 16, 2014

A BBC news report on the widening gulf in income and wealth inequality in the United States (and New York in particular). Income inequality is now as high as it was during the worst period of the 1920s. The richest Americans now hold one fifth of all of the country's income - and the top 10% actually hold half of it.

read more...»

Unit 2 Macro: Should UK Interest Rates be Rising Now?

In remarks made when launching the new quarterly inflation report (May 2014), the Governor of the Bank of England, Mark Carney, has signaled that policy interest rates set by the MPC are likely to remain at historically low levels for some time to come. The first rise in rates is probably less than a year away and some economists have penciled in early New Year 2015 for a rate hike. But what are some of the arguments for raising interest rates now?

read more...»

Forget the hype- Capitalism has made the world a more equal place

Thursday, May 15, 2014

Metropolitan liberals love to be able to criticise Western society. Recently, their lives have been brightened by the extensive discussion on the rise in inequality since the 1970s, especially in the Anglo-Saxon economies. There is a danger that this essentially anti-capitalist narrative will come to dominate the media, paving the way for increased regulation and the sorts of failed statist interventions in the economy which were a consistent theme in British political economy for nearly four decades after the Second World War.

read more...»

Evaluating UK interest rates

England's odds of winning the World Cup are about 30-1 - which reflects a rather low level of confidence that we have a realistic chance. However, the Governor of the Bank of England seems to think that a safer bet would be to back the recovery of the UK economy, judging by Mark Carney's launch of the latest Inflation Report yesterday. He likened the path the economy has to follow to that of England's task in Brazil, and said that the Bank's priority was to steer the economy through the opening rounds, all the way to victory. 

read more...»

What Ever Happened to the Phillips Curve

Tuesday, May 13, 2014

Teachers and students of the Phillips Curve will be delighted to access this updated classroom ready presentation on the Phillips Curve from Ed Dolan, Professor of Economics at Stockholm School of Economics, Riga, Latvia

read more...»

Quick revision of Key Phrases - the ‘Usual Suspects’ revision activity

Monday, May 12, 2014

Looking for a quick activity to help test revision of some of the key economic terms needed for the up-coming exams?  Here's a nice little test of knowledge that can either be used as an in-class activity or for individual students to use to test their own revision.

Called 'The Usual Suspects', students are given one minute to identify the definitions of as many key phrases from the micro and macro curriculum as they can.  Each phrase is shown alongside 4 possible definitions (from the wider pool).  Students must identify which is the correct answer.  If an incorrect answer is given, the student has to click to remove a 'bar' to allow them to continue with the test.

60 key phrases are included with each of the two resources below, so the activity can be run several times.  Who can get the highest score in one minute!

Click on this link for the macro version of the activity.

Click on this link for the micro version of the activity.

Economics Exam Technique: Thoughts on Improving Your Economics Papers

Friday, May 09, 2014

Here is a streamed presentation covering sone "Thoughts on Improving Your Economics Papers"

read more...»

Explaining Inequality in the UK

Wednesday, May 07, 2014

CEP Director, John Van Reenen, explains the reasons why inequality in the UK has been rising. For more films covering aspects of economic policy we recommend you take a look at the Facebook page - Click here! https://www.facebook.com/EconFilms

read more...»

UK Economy: The Economics of Falling Real Wages

Thursday, May 01, 2014

The prospects of significant wage increases for typical UK workers are bleak, according to Professors David Blanchflower and Stephen Machin writing in the Spring 2014 issue of CentrePiece magazine.

It is quite clear that the economy is still well below full employment and there is a large amount of slack in the labour market, they say. There is little evidence of widespread skill shortages, which would push up wages; and public sector pay freezes with continuing redundancies continue to push down on workers’ bargaining power.

read more...»

UK Income and Wealth Inequality - A New Film

Income and wealth inequality in the UK are higher than most people think they are and higher than they think they should be. These are among the messages of a new online infographics film:

read more...»

China about to overtake USA as world’s largest economy

New data suggests that China will soon overtake the United States with the largest GDP adjusted for purchasing power parity. This short Financial Times video from Chris Giles looks at the new data which are being driven by fresh estimates of what money can buy - i.e. the volume of goods and services that are produced in different countries and what one dollar can buy in one country compared to another. The data finds that poorer countries are cheaper than economists thought they were and richer countries are more expensive.

China barely breaks into the top one hundred of the countries of the world in terms of GDP per capita (PPP) - it is a large country but not rich!

The 2011 gross domestic product (GDP) of the European Union, the United States and China together accounted for half of the world GDP in 2011. In 2011, the GDP of the 28-nations EU represented 18.6 percent of the world's GDP, expressed in Purchasing Power Standards (PPP). It was followed by the United States with a share of 17.1 percent and China with 14.9 percent.

read more...»

Edexcel AS Economics Unit 2 Paper- Avoiding Common Mistakes

Monday, April 28, 2014

A YouTube video aimed at helping students to avoid making some of the common mistakes in this exam.

read more...»

Supply-side growth, not inflation, is the cure to the debt overhang problem

Thursday, April 24, 2014

In the year to March 2014, consumer prices in Sweden fell by 0.4 per cent. This has prompted the central bank, the Riksbank, to abandon the normally cautious language used by such institutions. Over the same period, inflation was negative in a further seven European countries, such as Greece, Portugal and Spain. In eight other countries, inflation was still positive but very low, running at an annual rate of less than 0.5 per cent.

The Riksbank argues that these very low, often negative, rates of inflation are caused by a ‘very dramatic tightening’ of monetary policy. There is a definite risk of a slide into a prolonged depression similar to that of the 1930s.

Surely low inflation is a good thing? Well, up to a point.

read more...»

The World needs Infrastructure!

According to The Economist, much of the world faces a familiar supply side constraint: the need for massive investment in infrastructure.

read more...»

UK Economy: The Rise of Sterling

In recent months the external value of the pound has been rising quite strongly. Indeed it has outperformed a cluster of other countries even though we have seen a rise in the UK's current account deficit on the balance of payments. Stephanie Flanders, chief market strategist at JPMorgan Asset Management, talks to the Financial Times about the sterling's out-performance and what impact the strong pound is likely to have on the UK economy.

read more...»

UK Economy: Debt and Barriers to Growth

Wednesday, April 23, 2014

The BBC's Robert Peston looks at the broader issue of heavy debt in the UK economy and whether it is holding back economic growth.

read more...»

UK Economy: Is the Real Wage Squeeze Ending?

Saturday, April 19, 2014

Nominal weekly wage growth is now running at approximately the same pace as consumer prices inflation hinting that a long period of declining real wages might be coming to an end. The precise measurement of whether real wages are no longer falling is open to doubt, what matters more is the longer run context. The UK has seen a persistent decline in real wages and this has undoubtedly affected the strength of the economic recovery from the 2008-09 recession. 

As this short FT video shows, younger workers have seen the steepest declines in real wages.

read more...»

Key Data on the UK Economy

Friday, April 18, 2014

At this time of the year many students are wanting to get up to speed with some of the important data for the UK economy so that they can consider including it in some of their exam answers. Here is a one page revision handout on the UK drawing on a large number of indicators and (as far as possible) providing the data for 2013. Sources used include the IMF, OECD and UK Treasury.

read more...»

Nigeria becomes the biggest economy in Africa after GDP revisions

Measuring the size of an economy is difficult on so many levels. Of course, there’s always the GDP debate, which asks about the best way to measure economic and social progress. But even measuring GDP is a huge challenge. Nigeria has just experienced a vast 89% increase in GDP having ‘rebased’ its figures.

read more...»

Structural Change in Asian and Australasian Countries

Tuesday, April 15, 2014

Using pubic data from the Asian Development Bank here are some illustrations of the structural changes in output that have occurred across a selection of countries in Far East Asia, Australia and New Zealand. Consider the magnitude of the changes that have taken place over the last twenty years. Note for revision which countries appear at the top and the bottom of each individual chart and think about WHY they appear in that position.

read more...»

Inequality: The Gini Coefficient

The Gini coefficient is a commonly-used measure of income inequality that condenses the entire income distribution for a country into a single number between 0 and 1: the higher the number, the greater the degree of income inequality.

read more...»

Page 1 of 33 pages  1 2 3 >  Last ›


Enter your Email


RES Economics Essay Competition 2014

Submit your entry to the RES Economics Essay Competition 2014

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