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


Tracker Pixel for Entry

Chile - Mending the roof when the sun is shining

Monday, April 27, 2009
Print Tweet This!Save to Favorites

I have Dani Rodrik’s weblog to my list of regularly visited sites and his most recent post provides a super example of how a country can accumulate a fiscal surplus when macroeconomic conditions are favourable giving the government scope for an appropriate and sustainable fiscal stimulus in the face of global economic uncertainty and a downturn in commodity markets.

Notice from the chart above just how dependent is Chile on exports of copper

“Until the current crisis hit, Chile’s economy was booming, fueled in part by high world prices for copper, its leading export.  The government’s coffers were flush with cash.  (Chile’s main copper company is state-owned, which may be a surprise to those who think Chile runs on a free-market model!)  Students demanded more money for education, civil servants higher salaries, and politicians clamored for more spending on all kinds of social programs. Being fully aware of Latin America’s commodity boom-and-bust-cycles and recognizing that high copper prices were temporary, Velasco stood his ground and decided to do what any good macroeconomist would do:  smooth intertemporal consumption by saving most of the copper surplus.  He ran up the largest fiscal surpluses Chile has seen in modern times.”

More here


blog comments powered by Disqus

AS & A2 Economics Revision Workshops

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

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

Dates and Locations

AS & A2 Economics - Macroeconomics: National & International Economy (Unit 2),  Global/International Economy (Unit 4)

  • Tuesday 25 March 2014 - London (Stratford City)
  • Wednesday 26 March 2014 - London (Fulham Broadway)
  • Thursday 27 March 2014 - Bristol (Cribbs Causeway)
  • Friday 28 March 2014 - Birmingham (Star City)
  • Tuesday 1 April 2014 - Gateshead (Metro Centre)
  • Wednesday 2 April 2014 - Leeds (The Light)
  • Thursday 3 April 2014 - Manchester (Salford Quays)

Post-Easter (AS Economics Units 1&2 Combined;  Global/International Economy (Unit 4))

  • Monday 28 April 2014 - London (Stratford City)
  • Tuesday 29 April 2014 - London (Fulham Broadway)
  • Wednesday 30 April 2014 - Bristol (Cribbs Causeway)
  • Thursday 1 May 2014 - Birmingham (Star City)
  • Friday 2 May 2014 - Manchester (Salford Quays)

tutor2u online store

PowerPoint Lesson Activities Teacher Conferences & CPD Courses
Exam Coaching & Revision Workshops Pre-release Case Study Toolkits
A Level Economics Teaching Support Resources for Business Studies
Digital Magazines  


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