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


Tracker Pixel for Entry

Focus on Japan - Human Catastrophe, Economic Risks

Sunday, March 13, 2011
Print Tweet This!Save to Favorites

The terrible news coming out of Japan reminds one of the fragility of human life in the face of overwhelming natural forces. The thoughts of everyone at Tutor2u are with the people of the region affected by the earthquake and subsequent tsunami.

The narrow economic impact of the natural disaster will take many months to calibrate - Japan is one of the richest countries in the world and ought to have the resources to cope with the immediate aftermath. But her macro-economy has been weak for many years - the country has been struggling to shrug off a lost decade of slow growth and - more recently - one of the deepest recessions in her post war history.

Does the third largest but most indebted government in the world have any fiscal freedom to react? What will happen in the short term to industrial production, energy and food supplies and her export sectors?

Earthquakes have a special power to create hugely damaging economic consequences. Japan suffered losses of 10 trillion Japanese yen in the 1995 Kobe quake, 2.5 percent of the country’s GDP the previous year. Over time a rebuilding process will help to stabilise economic activity but there is an opportunity cost of having to devote scarce resources to rebuilding. The Japanese economy has endured a period of relative stagnation in part because many Japanese companies have out-sourced their manufacturing production to China and other countries where unit labour costs are lowest.

I have produced a series of charts below tracking some of the recent key changes in macroeconomic indicators for Japan and linked to some news coverage and audio-visual resources on how the earthquake may affect the Japanese economy

Hamish McRae: The cost of catastrophe and unrest is huge in both human and economic terms
BBC News (Feb 2011): Japan is no longer the world’s second largest economy
BBC News (Nov 2010): Japan grapples with deflation and demographics
BBC news: (Nov 2010): G20: Currency War and Japan
Guardian: Japan’s economy heads into freefall after earthquake and tsunami
Telegraph: Japan shuts down as economic fears grow

Growth and relative living standards

GDP per capita

Data from Timetric.

To view this graph, please install Adobe Flash Player.

GDP per capita (constant 2000 US$), Japan from Timetric

Relative living standards compared to the EU

Data from Timetric.

To view this graph, please install Adobe Flash Player.

Eurostat: the EU’s Statistical Service from Timetric

What is striking here is the decline in relative GDP per capita (PPS adjusted) for Japan compared to the European Union average.

Economic growth and unemployment in Japan

Data from Timetric.

To view this graph, please install Adobe Flash Player.

Eurostat: the EU’s Statistical Service from Timetric

Economic growth and investment as a share of GDP

Data from Timetric.

To view this graph, please install Adobe Flash Player.

Japan from Timetric

Sterling against the Japanese Yen

Data from Timetric.

To view this graph, please install Adobe Flash Player.

Japan from Timetric

Hi-tech and ICT exports from Japan as a % of total exports

Data from Timetric.

To view this graph, please install Adobe Flash Player.

Japan from Timetric

 

 

 

 



 

FOR MORE REVISION SUPPORT FROM THE TUTOR2U TEAM...

Follow the tutor2u team and all our subject blogs on Twitter

Register for free tutor2u revision classes at our sister site Zondle:

Use the following class codes to join our Zondle revision classes:

Economics: AS Micro 290-66327 AS Macro 290-66328 A2 Micro 290-66329 A2 Macro 290-66330

AQA AS/A2 Business: BUSS1 290-66325 BUSS2 290-66326 BUSS3 290-66323 BUSS4 290-66322

 



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


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


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