Economics

Competitiveness

2012-02-08T19:24:22Z

A useful entry on the Bond Vigilantes blog on competiveness.

The concluding paragraph of this useful blog reads:
“It is true that the growth rate of an economy will depend on the growth rate of exports, but the problem is the growth rate of exports depends upon world demand and how competitive those exports are in the international marketplace. We doubt an internal devaluation is the answer to Europe’s problems. To say that a reduction in ULCs will result in a rebound in growth numbers is wrong. You have to be producing stuff that people want to buy. Or you need your currency to devalue by enough to make your goods relatively cheap. This isn’t going to happen in Europe, where the euro has been remarkably strong given the sovereign crisis. The growth answer lies in getting credit flowing through the economy again, and central banks recognise that. It is important to realise that sometimes the obvious solution – like “we need to be more competitive” – is not always the right solution.”
Find the whole entry here: http://www.bondvigilantes.com/ where you can also sign up for regular email updates. The articles are intended for investment professionals but there are useful titbits for Economics and Business teachers and students.

Teaching Economics: A Perspective from the Classroom

2012-02-07T19:51:33Z

I headed to the Bank of England today to a conference organised by Diane Coyle (Enlightenment Economics) and supported by the Bank and the Government Economic Service.

All of the sessions were full of interest and I will blog on some of the themes a little later on. For colleagues who would like to see the slides from my short talk please click on the link below

Economics - A Perspective from the Classroom

China bans its airlines from paying EU carbon tax

2012-02-06T05:52:33Z

On 1st January this year, the EU introduced an Emissions Trading Scheme (ETS) which levies a charge on flights in EU airspace based on carbon emissions. They estimate that this will add between 2 and 12 euros to flight tickets. Airlines are required to purchase emissions permits, like utilities and heavy industry in the EU, and airlines that do not comply face fines of 100 euros for each tonne of carbon dioxide emitted for which they have not surrendered allowances. In the case of persistent offenders, the EU has the right to ban airlines from its airports.

The Chinese Air Transport Association says the scheme would cost Chinese airlines 800 million yuan ($123 million) in the first year and more than triple that by 2020, and today the Chinese government has “banned” all airlines in the country from joining the ETS and also barred the airlines from increasing their fares or adding new charges for the scheme. The Chinese are not alone; last year a group of US airlines challenged the EU law and although the European Court of Justice ruled against them, more than two dozen countries, including India, Canada and Russia as well as China and the United States, have opposed the move, saying it violates international law and is an unfair trade barrier. As the BBC report points out, given the global economic conditions and an uncertain outlook for the travel industry, airlines see the extra tax eating further into their profits and are not convinced that this increase in the costs of production (SRAS) can be passed on to passengers.
“The sector is already facing quite severe challenges,” Chris De Lavigne of Frost & Sullivan told the BBC. “The airline industry as a whole has already been hit by high fuel costs in the past couple of years and no one wants additional cost factors coming in.”

The EU could take action against China. However, any fines or prohibitions are likely to provoke retaliation from China, which European airlines could not afford. And this happens just as EU governments desperately need the Chinese government’s help; as Reuters say “The aviation row also comes as euro zone countries have looked to China, with its big holdings of foreign exchange reserves, for a show of economic support while they grapple with the latest phase of their debt crisis” and is one week before the EU-China summit. It would seem expedient therefore to allow the Chinese airlines to avoid the charges - but in that case, there will be no grounds for applying them to any other airlines or countries, and the scheme will be subject to failure.

What would you do?

Teaching Vacancy - Economics (Part-time) at John Lyon School (Harrow)

2012-02-05T20:48:36Z

Many thanks to Stuart Foster for pointing out this nice part-time opportunity for a tutor2u economics teacher to join the thriving Economics department at John Lyon School. Need to move quickly on this one folks!

Economics Teacher (Part-time 0.5)
The John Lyon School

Dates: Apply by 20/02/2012
Job start September 2012
Location: Harrow
Contract type: Part Time
Contract term: Permanent

The School is seeking to appoint a part-time Teacher to join a popular and successful Economics Department. This is an excellent opportunity for either an experienced teacher or an NQT.

c has its own salary scale. A willingness to contribute to the extracurricular life of the School is desirable.

For further details please contact: The Head’s PA, The John Lyon School, Middle Road, Harrow on the Hill, Middlesex HA2 0HN, Telephone: 020 8872 8400, Email: headspa@johnlyon.org, www.johnlyon.org

Closing date for applications: Monday 20th February

The School is committed to safeguarding and promoting the welfare of children and applicants must be willing to undergo child protection screening appropriate to the post,

including checks with past employers and the Criminal Records Bureau.

The John Lyon School
Independent HMC Day School for 600 boys, aged 11-18
Harrow on the Hill

Teaching Vacancy - HOD Economics and Business Studies - City of London Freemen’s School

2012-02-05T20:16:27Z

Many thanks to Penny Brooks for letting us have news of this terrific HOD role for Economics/Business Studies in the beautiful Surrey countryside…

Head of Economics and Business Studies, City of London Freemen’s School

There have been many good jobs advertised on the blogs in the last couple of weeks. This one offers the chance to be Head of Department in a mixed independent school, close to London but in the Surrey countryside, teaching in the 6th form but within a school which includes pupils from 7 to 18 on one beautiful site.

You would be heading a department with excellent, experienced and enthusiastic teachers, and lively, questioning students. The school is in the process of introducing some exciting curriculum developments which will give all pupils the opportunity to extend and enrich their learning well beyond the academic curriculum, and offer staff the opportunity for involvement either in their specialist curriculum area, or in offering other extension activities.

Further information about the department can be found here:

CLFS_Economics_and_Business_Studies_Department.doc

The closing date for applications is Thursday 16th February 2012.

email the school for a full job description and application form quoting ref. 065218. In the meantime, if you would like the chance to discuss the job informally, please email Penny Brooks

Economics and Business News Quiz 6 February

2012-02-05T19:37:40Z

Here is our weekly ten question quiz on economics and business in the news powered by Zondle. See who can get the highest score on the Space Destroyer game. Just register for free to try the quiz

zondle - games to support learning

Daniel Kahneman on decision-making

2012-02-05T18:49:37Z

Here is a quick link to a guest blog on the Economist website provided by Daniel Kahneman - a handy overview of some of his key insights concerning psychological explanations for departures from rationality. Follow this link

Unit 3 Micro: Video Resources on Carbon Taxation

2012-02-05T08:49:45Z

The crucial issue of how best to tackle climate change and make significant progress towards a low-carbon economy is one that gives students tremendous opportunities to hone their analysis and evaluation skills. A few weeks ago the Australian government was successful in getting through the Senate proposals for a new carbon tax and in this blog we link to some excellent video reports on the background to this decision.

Progress needs to be made - data for 2010 show that global levels of greenhouse gases are higher than the worst case scenario outlined by climate experts just four years ago. The world pumped about 564 million more tonnes of carbon into the air in 2010 than it did in 2009, an increase of six per cent. The Australian government is introducing a temporary carbon tax ahead of launching a carbon emissions trading scheme in 2015.

Inside East

The first 12 minutes of this video is excellent for using in the classroom. Australia, one of the world’s biggest polluters, has unveiled a radical move to tackle climate change, but will it work?

Australians up in arms over carbon tax

Government pledges to cut carbon emissions by half by 2025 (May 2011)

Russia’s monopoly power over gas supplies

2012-02-05T08:47:23Z

It has been a bit chilly in the UK for the last few days, but nothing compared to the temperatures as low as -35 which have hit parts of central and eastern Europe. Of course, they are used to far colder winters than us, and have different ways of dealing with the weather, but reliance on gas supplies from Russia for the majority of their heating fuel leaves countries including Bulgaria, Serbia and Bosnia vulnerable to disruption in that supply.

Gazprom, the Russian gas export monopoly, said on Friday it was supplying as much gas as it could spare. However, higher demand for the gas in their domestic market means that less is available for export than usual, with a consequent reduction in supply to other countries. An EU spokeswoman has confirmed that there has been a decrease in gas deliveries in various member states - Poland, Slovakia, Austria, Hungary, Bulgaria, Romania, Greece and Italy, and although this is not yet a crisis, it is a notable change.

There have been similar disruptions to supply in the past during particularly cold spells, and notably in 2009 when political tension between Russia and Ukraine led to a cut in supplies to parts of Europe, which pass through Ukraine, for about two weeks. This gives a clear example of some of the wide-ranging negative externalities which can come from monopoly power over such a vital resource.

Unit 1 Micro: Winning the War on Deforestation

2012-02-05T08:18:52Z

Justin Rowlatt from the BBC has been investigating some of the remarkable progress being made in controlling deforestation in Brazil. The battle focuses on an area known as the “arc of destruction” and the video reports here show the impact of a government making a clear commitment to tackling the issue and backing it up with force and with incentives.

The notion that deforestation is unstoppable is now being challenged - Brazil says the rate of deforestation in its Amazon region has fallen to the lowest level for 23 years. The main causes of illegal clearing of the rainforest are cattle farming and agricultural crop production, as well as logging for timber. Watch the Newsnight video: Winning the war on Amazon deforestation

Related video: Guardian: Cerrado deforestation - video (April 2011)

Unit 3 Micro: Richard Wilkinson on Inequality and Economic Harm

2012-02-05T08:05:36Z

I have been using this talk given at TED 2011 by Richard Wilkinson when teaching the topic of poverty and inequality and the risks that a growing chasm between low and high income groups can have for society and economic performance. Students and teachers familiar with the work of Pickett and Wilkinson and their recent book “The Spirit Level” will know well the approach that these authors take.

They use published data on inequality and link to wide differences in a range of economic and social outcomes. Their work has been criticised by many on the right, not least because their argument is strong and clear - namely that we need to reduce inequality to tackle some of society’s deepest and most corrosive problems.

Unit 1 Micro: The Facebook Floatation

2012-02-03T16:04:24Z

Is the business truly worth the astounding estimated market value when Facebook finally completes an Initial Public Offering? Will profit be paramount or will Facebook have other key objectives beyond the bottom line? Can the explosive growth of the business be maintained or will concerns about online privacy act as a major drag on revenues and profits?

The selection of news videos on proposals for Facebook provide some interesting background and asks whether Facebook can maintain their success once they become a public business. Ed Conway from Sky reflected on Twitter today that, in the last week, the Bank of England has spent more than $5 billion - more than enough to have bought the initial public offering for Facebook and kept some change into the bargain.

Teaching Vacancy - HOD Economics & Business Studies at Cheltenham College

2012-02-03T11:27:32Z

Many thanks to tutor2u’s Amy Chapman for letting us have first news of this teaching opportunity in the lovely spa town of Cheltenham.

Head of Economics and Business Studies - Cheltenham College

A well-qualified and experienced graduate is required to lead the highly successful Economics and Business Studies department from September 2012 following the promotion of the current head of department.

The ability to teach both subjects to A2 Level will be an advantage although single-subject specialists will be considered.

The Department comprises five full-time staff, and two part-time teachers, including the Deputy Head (Pastoral). Teaching takes place in a dedicated block shared with the EAL department. All members of the teaching staff are equipped with a school MacBook and there are digital projectors in all teaching rooms.

The Department currently runs a number of subject activities, such as Young Enterprise, Bank of England Target 2.0 competition and IFS investor challenge. An extensive Oxbridge programme is also offered by the department, which includes lectures, extension groups and visits to the Adam Smith Institute.

Economics and Business Studies are currently offered at AS/A2 Level only. There are usually five Economics sets in each year group and two or three Business Studies groups.

Economics currently uses the AQA specification and Business Studies has changed (in 2011) to WJEC board.

The closing date for applications is Friday 17th February.

For further details and an application form follow this link -

http://www.cheltenhamcollege.org/head-of-economics-and-business-studies

College website - http://www.cheltenhamcollege.org/

Teaching Vacancy - Principal Teacher of Business Education - George Heriot’s School (Edinburgh)

2012-02-03T11:23:13Z

A wonderful opportunity to teach economics and business at George Heriot’s School in Edinburgh here…

Appointment of PRINCIPAL TEACHER OF BUSINESS EDUCATION
For August 2012

George Heriot’s School invites applications from suitably experienced, enthusiastic and committed teachers to join one of Scotland’s leading independent schools in this important position of leadership in a very successful department in August 2012. The ability to teach Economics will be highly advantageous. This is a full-time permanent vacancy which arises from the promotion of the current post-holder to Depute: Director of Studies in the Senior School at Heriot’s. This is a readvertisement; previous applicants need not reapply.

The beginnings of George Heriot’s School go back to 1628, when George Heriot, jeweller and goldsmith to King James VI, bequeathed the majority of his estate for the founding of a ‘hospital’ in his native city, whose purpose was to be the upbringing and education of fatherless sons of Edinburgh burgesses. The Foundation has continued without interruption to the present day, and the present roll includes around 70 boys and girls who attend Heriot’s as Foundationers.

Today George Heriot’s flourishes as an independent, co-educational day school catering for around 1600 children from Nursery to Sixth Year. It has long been regarded as one of Scotland’s leading schools and it enjoys a high reputation for its academic standards, pastoral care and extra-curricular life. The School is attractively situated in its own grounds close to the city centre and within easy walking distance of bus and rail terminals. A number of bus routes also service the School. Edinburgh Castle forms a magnificent backdrop, and Edinburgh’s flourishing financial centre, the University of Edinburgh, the College of Art, the National Library and the Royal Scottish Museum are located close by. The original building has been carefully preserved and, as a historic monument, is open at certain times to the public during school holidays. Over the years a succession of new buildings and upgradings has provided the full complement of educational facilities. Rec ent additions include a Nursery, a Junior School extension, and an ICT Resource Centre and the acquisition of the former Grassmarket Campus of the Edinburgh College of Art, which lies immediately adjacent. A new Sports Centre is due for completion in early 2012. Similarly, improvements and additions have been made to provide excellent sports fields and facilities at Goldenacre. The School has sole use of an outdoor centre in the Scottish Highlands.

Further information on the School can be obtained from the School’s website at www.georgeheriots.com.

As Head of Department the Principal Teacher is responsible for the effective leadership and
management of the Department in all its aspects, including the key areas of curriculum development and delivery, policy and administration, departmental budgeting, management of resources, ethos and discipline, and staff development within the Department. The new Principal Teacher will have a member of the Senior School Management Team as their line manager and will work closely with the Director of Studies, who chairs the Curriculum Committee of which all Heads of Department are members. In addition to excellent proven teaching skills, the successful candidate will demonstrate a sound understanding of current curricular issues in Scottish education in general and those relating to the teaching of his/her own subject area. He/she must be able to:
articulate the place of the Business Education subjects in the curriculum and what the subjects should seek to achieve in a child’s education;
show a vision for the further development of the Department at Heriot’s;
be adaptable and flexible and able to manage change in pursuing a high quality provision of
Business Education at Heriot’s;
demonstrate leadership and management skills of a high order; a commitment to quality assurance, self evaluation and staff development will be particularly important.

The Business Education Department is a well established and very successful department, currently staffed by the Principal Teacher and five full-time assistant teachers (three of whom currently have promoted post responsibilities in the School). The Department currently offers courses to Standard Grade, Higher and Advanced Higher in Accounting and Finance/Accounting; Intermediate 2, Higher and Advanced Higher in Business Management; and Intermediate 2, Higher and Advanced Higher in Economics. The Department also offers Microsoft Office Specialist units. The Department has an excellent record of success in public examinations.

The Business Education suite comprises four rooms located in Castle Building on the north side of the campus. In keeping with the ever-changing demands on Business Education, particularly in the field of IT, the Department has undergone a thorough refurbishment programme, which has seen the installation of 50 PCs networked within the Department and to the School network.

The Department participates, often successfully, in many national competitions and also runs a number of trips and visits to leading business organisations. A two day Business Awareness conference is held annually for pupils in S6 studying Business Education subjects. The Department runs the School’s Young Enterprise programme, has set up a successful Business Club for young investors, and also contributes to Financial Education and Enterprise in Education in the School. Further information on the Department can be found on the Heriot’s website in the Curriculum pages under Senior Curriculum/Departments.

All staff are expected to participate and contribute to the School’s extra-curricular programme. The School has an impressive range of extra-curricular activities, including games and sporting activities, a large number of clubs and societies, the CCF and the Duke of Edinburgh’s Award Scheme. These are an important part of the School’s philosophy of educating the whole child, and they greatly enrich the life of the School. The ability and willingness to assist with the coaching and refereeing/umpiring of team games would be particularly advantageous but it is open to candidates to indicate the activities to which they could contribute.

Terms and Conditions
a) Applicants must currently be registered or eligible for registration with the General Teaching Council for Scotland.
b) The person appointed will be party to a Contract of Employment between him/herself and the Governors of George Heriot’s Trust.
c) Salary is based on the SNCT Scales with a Heriot’s enhancement.
d) The position is pensionable under the Scottish Pensions Agency teachers’ scheme.
e) The person appointed will require to complete a criminal conviction self declaration form and be a member of the Protecting Vulnerable Groups Scheme. We will require to be satisfied with any disclosures in the form and under the PVG Scheme
f) Residential accommodation is not provided.
g) George Heriot’s School is a non-smoking campus.
h) Parking on site cannot be guaranteed.

Appointment Procedure
Applications specifying clearly the post applied for should be submitted by letter, to the Headmaster at the address below, enclosing a CV.
A completed copy of the Self Declaration form appended below is also required, together with the names, addresses and, if possible, email addresses of two referees. Please also tell us where/how you became aware of the vacancy.
Letters of application and CV’s may be submitted in electronic form, but the Self Declaration form, which requires a signature, must be submitted as hard copy.
Applications should be submitted as soon as possible and not later than Wednesday,
22nd February 2012.

Interviews will take place in the period between 5th and 15th March 2012.

George Heriot’s School, Lauriston Place, Edinburgh EH3 9EQ
Tel: 0131 229 7263 Fax: 0131 229 6363 email: enquiries@george-heriots.com

George Heriot’s Trust is an Equal Opportunities employer and we welcome applications from all sections of the community.

George Heriot’s School is governed by George Heriot’s Trust a charity registered in Scotland No SCO11463