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

Using McDonald’s as an example - I’m loving it

Sunday, October 21, 2012
Print Tweet This!Save to Favorites

I was told off this week by my students for using McDonald's as an example to illustrate my point yet again.  In fact it was the second week on the trot that I was reprimanded as they told me previously that I was always peppering my conversation with Latin phrases "'cos it makes you sound more clever."

"No I don't," I replied - I've told my students a million times not to exaggerate.  The offending example came as I was attempting to explain how fatty foods (especially those from the exalted temple of the Golden Arches) were a demerit good.  I thought about it for a little while and realised that two weeks ago I'd told them about the use of 'stars' to motivate McDonald's staff and their extensive training programmes when we discussed labour productivity.  I'd also mentioned them when we discussed possible issues relating to economies of scale and the fact that a homogenised world can lead to less choice (a weak argument in their view - a McDonald's in every town sounded like a wonderful idea) and discussed the use of persuasive advertising as an example of non-price competition.  They were right, I seemed to be talking about McDonald's all the time - and I'm a vegetarian!

"Mea culpa," I confessed.

In my defence, of course, I have always felt it is important to bring in the real-world examples that may resonate more closely with young people.  Economics can be highly theoretical and sometimes other-worldly - I imagine that it must seem like Harry Potter without the cracking plot lines. I always get a look of bemusement when I explain the theory of perfect competition or perfect monopoly and then say that there are very few actual examples ("if I had perfect knowledge, Jon, I'd go on the Million Pound Drop").  McDonald's has always struck me as universal in its appeal and that young people understand its products, services and business approach.  

However, I don't want to sound like a stuck record (not that they would know what one of them would sound like).  So turning to my trusty set of blogs (starting with Tutor2U of course!), news apps, wesbites, and RSS feeds to find fresh and inspiring new examples imagine my surprise when I find that McDonald's was mentioned not once but four times in the last 24 hours' worth of business and economics news.  Reuters ,among others, announced that McDonald's profits and share value had fallen due to the strong dollar reducing the value of international sales for the company when revenue is repatriated to the USA, indicating that this downfall is a barometer for the American Economy.  The Telegraph,  on the other hand, report that McDonald's has seen a 10% increase in its revenue within the UK due to its clever repositioning as a family restaurant to compete with up-market supermarkets.  The Belfast Telegraph  reports that McDonald's have replied to criticism from Jamie Oliver about the apparent irony that arose with the chain's high profile contribution to the fitness-promoting London Olympic visitors park (it's all about ensuring high quality customer service apparently).  Even the good-old Daily Mail  has posted a video showing the McDonald's fries' journey from potato to fryer (good example of adding value).

Using McDonald's as an example?  I'm loving it.



 

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