http://www.tutor2u.net/blog/index.php/economics/ en tutor2u.net Copyright 2014 2014-03-05T15:39:04+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/the-curious-case-of-correlation-and-causation http://www.tutor2u.net/blog/index.php/economics/comments/the-curious-case-of-correlation-and-causation#When:15:39:04Z A former pupil has written an excellent blog on causation vs correlation in economics.As he writes, "the role of Economics is to understand where there is and is not causation." An important skill in life!Read his blog here. 2014-03-05T15:39:04+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/economics-teacher-national-conference-23-june-london http://www.tutor2u.net/blog/index.php/economics/comments/economics-teacher-national-conference-23-june-london#When:09:26:50Z We are delighted to announce two of the key note speakers for our annual Economics Teacher National Conference which this year is being held at the Wellcome Foundation Conference Centre on Euston Road, London. The date for the diary is Monday 23rd June! 2014-03-05T09:26:50+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-5-years-of-low-interest-rates http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-5-years-of-low-interest-rates#When:08:47:50Z I am setting my AS macro students an essay this week evaluating the economic effects of five years of ultra-low monetary policy interest rates. Tom White blogged about this a day or so ago (click here) linking to an excellent article in the Guardian. It is a great way for students to deepen and broaden their understanding and awareness of recent developments in the UK economy.Teaching colleagues covering monetary policy might want to use the data charts on interest rates contained in the PowerPoint file shown below. STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Money and Finance, Macroeconomic Policies, Monetary Policy, UK Economy, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-03-05T08:47:50+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/price-regulation-in-industries http://www.tutor2u.net/blog/index.php/economics/comments/price-regulation-in-industries#When:08:25:59Z Regulation of prices through price capping has been a feature of regulation of the utilities in the UK for many years – although this is now being phased out as most utility markets have become more competitive.Price capping systems Price capping is an alternative to rate-of-return regulation, in which utility businesses are allowed to achieve a given rate of return (or rate of profit) on capital. In the UK, price capping has been known as "RPI-X". This takes the rate of inflation, measured by the Consumer Price Index and subtracts expected efficiency savings X. So for example, if inflation is 5% and X is 3% then an industry can raise their prices on average by only 2% per year In the water industry, the formula is "RPI - X + K", where K is based on capital investment requirements designed to improve water quality and meet EU water quality standards. This has meant increases in the real cost of water bills for millions of households in the UK.AdvantagesCapping is an appropriate way to curtail the monopoly power of “natural monopolies” – preventing them from making excessive profits at the expense of consumersCuts in the real price levels are good for household and industrial consumers (leading to an increase in consumer surplus and higher real living standards in the long run).Price capping helps to stimulate improvements in productive efficiency because lower costs are needed to increase a producer’s profits. The price capping system is a tool for controlling consumer price inflation in the UK. DisadvantagesPrice caps have led to large numbers of job losses in the utility industriesSetting different price capping regimes for each industry distorts the price mechanism STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Business Economics, Economics of Utilities, Monopoly, Government Intervention, Regulation, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 3, 2014-03-05T08:25:59+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/5-years-of-low-interest-rates-an-evaluation-exercise http://www.tutor2u.net/blog/index.php/economics/comments/5-years-of-low-interest-rates-an-evaluation-exercise#When:20:59:23Z There’s been lots of media coverage of a recent anniversary: it was five years ago in March 2009 that the Bank of England took the dramatic step of cutting interest rates to their lowest level in more 300 years. And there they have stayed - with some predicting they will stay low for a while longer yet.How about a quick bit of analysis (why the Bank took the move) and then some evaluation? I’m suggesting an evaluation based on a recent Guardian article. Has it been a good move? Well – it depends – on who you are, for a start. STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Demand, Saving, Macroeconomic Policies, Monetary Policy, 2014-03-04T20:59:23+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/uk-economy-mind-the-gap-london-v-the-rest http://www.tutor2u.net/blog/index.php/economics/comments/uk-economy-mind-the-gap-london-v-the-rest#When:09:25:37Z Mind the Gap! Evan Davis has produced two superb programmes on the regional imbalances in the UK economy. In the first he focuses on the agglomeration / network economies of scale that help to explain the skew in business investment towards the capital. In the second he looks at which cities elsewhere in the UK might be drivers of renewed growth of incomes, investment and growth! Here are the links:Mind The Gap Episode 1 - click hereMind The Gap Episode 2 - click here STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Economic Growth, Competitiveness, UK Economy, Regional Economics, London Economy, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, OCR F582, OCR F585, 2014-03-04T09:25:37+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-low-investment-stifles-the-world-economy http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-low-investment-stifles-the-world-economy#When:09:21:43Z Six reasons for low business investment are advanced in this article - private sector capital spending is a key driver of growth - why have companies been reluctant to authorize investment projects despite an environment of low interest rates? STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Economic Growth, Global Economy, Macroeconomic Policies, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, 2014-03-04T09:21:43+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-competitive-markets-revision-qa-student-licence-for-just-5 http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-competitive-markets-revision-qa-student-licence-for-just-5#When:22:51:58Z Incomplete notes? Unsure of exactly what you need to know? Only a few weeks left before the exam?. Don't worry - you've come to the right place. Tutor2u's Q&A format is the rapid revision route to success. Tutor2u Q&A's focus on the essentials of each subject covered. A comprehensive glossary summaries key terms and concepts. Test your understanding against 100's of questions designed to cover all aspects of the syllabus. You can cover the syllabus in rapid time, knowing that you are focusing your effort on the essentials for success. No wonder, tutor2u's Q&As are the best-selling online rapid revision guides available for AS and A2 economics.Details can be found hereEdExcel Unit 1 EconomicsAQA Unit 1 EconomicsOCR F581 Unit 1 Economics STUDENT TOPICS, AS Micro, SPECIFICATION SUPPORT, AQA ECON 1, Edexcel Unit 1, OCR F581, 2014-03-03T22:51:58+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-quick-revision-guide-spring-2014-edition http://www.tutor2u.net/blog/index.php/economics/comments/as-macro-quick-revision-guide-spring-2014-edition#When:22:42:44Z Our new 44-page, full-colour printed revision guide is designed to support students preparing for their AS Economics exams on macroeconomics. The guide provides comprehensive coverage of the core macroeconomic topics for AS Economics, grouping them into the following areas: STUDENT TOPICS, AS Macro, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, REVISION NOTES & PRESENTATIONS, 2014-03-03T22:42:44+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/lessons-from-wwi-in-behavioural-economics http://www.tutor2u.net/blog/index.php/economics/comments/lessons-from-wwi-in-behavioural-economics#When:22:23:52Z Here is a short article written by Agatha-Christie Onwuzuruike - a student on the Eton Summer School who has won a coveted place to read for PPE at Oxford.The centenary of the beginning of the First World War is fast approaching. Not only is it a time to remember those that lost their lives in the greatest sacrifice; it offers economists young and old a lesson in behavioural economics ECONOMICS TEACHER SUPPORT, University Advice for Economics, 2014-03-03T22:23:52+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/some-topical-issues-in-trade-and-development http://www.tutor2u.net/blog/index.php/economics/comments/some-topical-issues-in-trade-and-development#When:20:38:21Z I was delighted to give a talk to A2 economists at Wilson's School in Surrey today covering some aspects of trade and development economics. In particular we looked at the work of Hidalgo and Hausmann and their newly published Index of Economic Complexity. The slides from my talk are streamed below. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, African Economy, South African Economy, Kenyan Economy, Development Economics, Brazil Economy, China Economy, Indian economy, Russia Economy, Economic Growth, Competitiveness, Global Economy, International Trade, OECD Economies, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, OCR F585, 2014-03-03T20:38:21+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/pistorius-and-market-failure http://www.tutor2u.net/blog/index.php/economics/comments/pistorius-and-market-failure#When:15:56:07Z When discussing market failure, we often talk about merit/demerit goods, public goods, monopolies etc.Underpinning many of the market failures is the idea that the profit incentive (which can be a force for good when it comes to innovation and choice) can create incentives which are rather less savoury, and unscrupulous ethical morals can be argued to drive many market failures.Paddy Power are in the limelight - with a petition set up for Change.org to ban their bets (currently with 24,000 signatories) - offering odds on the outcome of the Pistorius pre-meditated murder trial."A Paddy Power advert promoting a ‘money back if he walks’ offer for bets on the Oscar Pistorius murder trial has prompted numerous complaints to the Advertising Standards Authority, and an online petition for it to be pulled.The company had already caused outrage earlier this week by offering odds on the outcome of the premeditated murder trial - 7/4 for a guilty verdict and 2/5 for not guilty - with many Twitter users branding the gimmick ‘vile’ and ‘disgusting’."Read more here.It also reminded me of this video from Wharton - Does Studying Economics Make You Greedy?Read more on it here. 2014-03-03T15:56:07+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/quiz-on-the-index-of-economic-complexity http://www.tutor2u.net/blog/index.php/economics/comments/quiz-on-the-index-of-economic-complexity#When:16:37:03Z The Atlas of Economic Complexity is a new book (perfect for the coffee table) from Richard Hausmann and Cesar Hidalgo. It maps out the degree of complexity of individual economies around the world and provides a hugely visual and interesting insight into the importance of knowledge in shaping the future prosperity of countries in the global economy. I have put together a 10 question quiz on some of their key results - a useful activity I hope for students interested in the commodity composition of trade of developed and developing countries. Have a go! STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Business Economics, Emerging Economies, African Economy, Development Economics, Brazil Economy, China Economy, Indian economy, Russia Economy, Economic Growth, European Economy, Global Economy, Macroeconomic Policies, Supply-side policies, Manufacturing Industry, OECD Economies, Mexico Economy, South Korea Economy, German Economy, Greece Economy, US Economy, UK Economy, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, OCR F585, 2014-03-02T16:37:03+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-economic-growth http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-economic-growth#When:16:11:38Z Here is a revision presentation for an AS Macro topic - economic growth STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Economic Growth, Macroeconomic Policies, Supply-side policies, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-03-02T16:11:38+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/real-world-economics-2014-sport-health-the-economy http://www.tutor2u.net/blog/index.php/economics/comments/real-world-economics-2014-sport-health-the-economy#When:21:38:15Z It's that time of the year again when the Economics Students at Greenhead College host the annual 'Real World Economics' Event whereby all things Economics are presented with a specific link to everyday events that we encounter. The theme this year is centred on the impact of sport and health on our Economy. 2014-03-01T21:38:15+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-multiplier-and-accelerator-effects http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-multiplier-and-accelerator-effects#When:16:09:30Z Here is a revision presentation for an AS Macro topic - the multiplier effect, the accelerator effect and Keynesian economics STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Demand, Capital Investment, Macroeconomic Policies, Keynesian Economics, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-03-01T16:09:30+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/lecture-on-the-uk-rail-industry-18-march-2014 http://www.tutor2u.net/blog/index.php/economics/comments/lecture-on-the-uk-rail-industry-18-march-2014#When:07:16:08Z Staff and A2 pupils who live in the Bath area might be interested in attending a lecture at Monkton Combe School on Tuesday 18th March from 5.00-6.00pm.  The topic is rail privatisation and it will be presented by Graeme Hampshire, Director of Stagecoach Rail.  He will be covering the structure of the UK rail industry, the performance to date since privatisation and looking at the finances of a train operating company and how they bid for franchises.  He'll conclude by examining how reality managed prediction and he'll then take questions from the audience.  This presentation should be excellent preparation for anyone studying for A2 Transport Economics.  If this is something that interests you please send an e-mail to Robert Campbell on campbellrcf@monkton.org.uk. ECONOMICS THEMES, Transport Economics, 2014-03-01T07:16:08+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-the-economic-cycle http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-the-economic-cycle#When:16:06:49Z Here is a revision presentation for an AS Macro topic - the economic cycle STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Macroeconomic Policies, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-28T16:06:49+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/imf-joins-in-the-inequality-debate http://www.tutor2u.net/blog/index.php/economics/comments/imf-joins-in-the-inequality-debate#When:19:36:37Z Inequality might be falling between nations as a global middle class is emerging, but inequality is on the rise within nations. Quite why this is happening is a matter of debate, but the International Monetary Fund (IMF) has joined in the discussion asking if rising inequality is an obstacle to economic growth and development. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Development Economics, Global Economy, IMF, Macroeconomic Policies, Supply-side policies, Poverty and Inequality, 2014-02-27T19:36:37+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/economics-news-quiz-27-february-2014 http://www.tutor2u.net/blog/index.php/economics/comments/economics-news-quiz-27-february-2014#When:18:10:09Z Here is our weekly ten question economics news quiz created using the Zondle platform - create your own quizzes for free using Zondle! REVISION NOTES & PRESENTATIONS, Revision Quizzes, 2014-02-27T18:10:09+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-macroeconomic-equilibrium http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-macroeconomic-equilibrium#When:16:04:40Z Here is a revision presentation for an AS Macro topic - macroeconomic equilibrium STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Demand, Aggregate Supply, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-27T16:04:40+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/paul-ormerod-forward-guidance-needed-for-companies-not-consumers http://www.tutor2u.net/blog/index.php/economics/comments/paul-ormerod-forward-guidance-needed-for-companies-not-consumers#When:14:54:11Z Most of the commentary on the UK’s economic recovery focuses on consumers. Are they taking on too much debt again to finance their spending? Is there a bubble in house prices, as people get excited about bricks and mortar again? Certainly, in terms of its sheer size, spending by consumers is by far the biggest component of GDP, making up around 60 per cent of total domestic expenditure. STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Business Economics, Management Issues, Cycles and Shocks, Aggregate Demand, Capital Investment, Macroeconomic Policies, Keynesian Economics, UK Economy, Recession Watch, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, OCR F582, OCR F585, 2014-02-27T14:54:11+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/the-future-of-fairtrade http://www.tutor2u.net/blog/index.php/economics/comments/the-future-of-fairtrade#When:14:21:29Z Radio 4 on the future of Fair Trade as the label marks its 20th anniversary. Some are arguing that a new initiative is weakening the foundation's founding vision. What makes Fair Trade fair? Is it really Fair Trade? Listen to it here. 2014-02-27T14:21:29+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/michael-metcalfe-we-need-money-for-aid.-so-lets-print-it http://www.tutor2u.net/blog/index.php/economics/comments/michael-metcalfe-we-need-money-for-aid.-so-lets-print-it#When:07:22:58Z During the financial crisis, the central banks of the United States, United Kingdom and Japan created $3.7 trillion in order to buy assets and encourage investors to do the same. Michael Metcalfe from State Street argues that these same central banks print money to ensure they stay on track with their goals for global aid? Without risking inflation? A Print-Aid matching scheme could boost aid payments by up to 40% or $200 billion. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Human Development, Development Economics, Global Economy, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, OCR F585, 2014-02-27T07:22:58+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/panel-event-19th-march-the-future-of-the-british-economy http://www.tutor2u.net/blog/index.php/economics/comments/panel-event-19th-march-the-future-of-the-british-economy#When:07:02:39Z On Wednesday 19th March 2014, the Eton College Keynes and Political Societies are joining forces for a panel debate titled: 'The Future of the British Economy.' In front of 600 students and teachers, Kwasi Kwarteng MP (Conservative Party), David Blunkett MP (Labour Party), Natalie Bennett (Leader of Green Party), Lord Bilimoria (Chairman of Cobra Beer) and Jonathan Portes (Director of the National Institute of Economic and Social Research) will debate the prevailing issues concerned with the British Economy and what lies ahead in the future. It will be an event of great collaboration, interactivity and engaged learning. It will start at 8.15pm, with a pre-meeting reception for visiting schools taking place from 7.15pm Everything will be wrapped up by 9.45pm. The event will be taking place at Eton's largest auditorium, School Hall.One of the main aims of this event is to open Eton's doors to as many schools as possible. 30 schools attended our last panel event in November and we'd like to hit this target again. We would delighted for your school to bring a group of students and teachers interested in this issue to the event. Every school receives a personal treatment on the night and is allocated a boy to welcome them upon arrival, take them to the venue and help them throughout the evening. We hope that you can join us for it.If you would like to bring a group of students, please could you email Anthony Beaumont on   ECONOMICS TEACHER SUPPORT, University Advice for Economics, 2014-02-27T07:02:39+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/university-of-warwick-2014-economics-summer-school http://www.tutor2u.net/blog/index.php/economics/comments/university-of-warwick-2014-economics-summer-school#When:20:34:24Z Casey Orrin from the University of Warwick has kindly passed on to us details of their first ever Summer School for Economics.  ECONOMICS TEACHER SUPPORT, University Advice for Economics, 2014-02-26T20:34:24+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/a-minimum-wage-in-germany-but-the-low-skilled-jobs-are-in-the-uk http://www.tutor2u.net/blog/index.php/economics/comments/a-minimum-wage-in-germany-but-the-low-skilled-jobs-are-in-the-uk#When:18:21:20Z In Germany the government has reluctantly agreed to introduce a minimum wage of €8.50 (£6.98) per hour. Angela Merkel's conservative Christian Democratic Union party is opposed to the idea, but need to make concessions in coalition negotiations with centre-left parties such as the Social Democrats, who have campaigned for a national minimum wage. STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Economic Growth, Competitiveness, Labour Market, Macroeconomic Policies, Supply-side policies, OECD Economies, German Economy, UK Economy, Unemployment, 2014-02-26T18:21:20+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-aggregate-supply http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-aggregate-supply#When:16:02:32Z Here is a revision presentation for an AS Macro topic - aggregate supply STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Supply, Macroeconomic Policies, Supply-side policies, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-26T16:02:32+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/growth-and-development-challenges-and-opportunities-for-mexico http://www.tutor2u.net/blog/index.php/economics/comments/growth-and-development-challenges-and-opportunities-for-mexico#When:14:21:11Z In this independent research assignment, Year 12 Economist Doug Feagin considers some of the factors influencing the macroeconomic performance of Mexico - a fascinating country and one of the MINT cluster of countries discussed by Jim O'Neill in his recent programmes for the BBC.  STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Emerging Economies, Development Economics, Cycles and Shocks, Economic Growth, Competitiveness, Global Economy, OECD Economies, Mexico Economy, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, OCR F582, 2014-02-26T14:21:11+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/student-enrichment-whitonomics-is-launched http://www.tutor2u.net/blog/index.php/economics/comments/student-enrichment-whitonomics-is-launched#When:09:08:54Z We are delighted to showcase on the blog a new edition of Whitonomics - designed, written, edited and published by the engaged students at Whitgift School. Please do take a close look at this superb publication. Our good friend Oliver Fernie has supported the project within the Whitgift Economics Department, he rightly says that "It teaches them so many transferable skills and stretches them beyond the AL/IB & IGCSE syllabus.'Do you have a school/college student run magazine that you would like to show to the world? We are always happy to flag them up on the Tutor2u economics blog! ECONOMICS TEACHER SUPPORT, 2014-02-26T09:08:54+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/new-evidence-of-persistent-gender-bias-at-the-uks-top-companies http://www.tutor2u.net/blog/index.php/economics/comments/new-evidence-of-persistent-gender-bias-at-the-uks-top-companies#When:09:03:03Z The UK’s biggest companies remain biased when appointing women to their boards, according to new research by Dr Ian Gregory-Smith and colleagues, published in the February 2014 issue of the Economic Journal STUDENT TOPICS, A2 Micro, AS Micro, ECONOMICS THEMES, Business Economics, Management Issues, Labour Market, SPECIFICATION SUPPORT, AQA ECON3, OCR F583, 2014-02-26T09:03:03+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/executive-pay-shareholders-have-failed-to-curb-excesses http://www.tutor2u.net/blog/index.php/economics/comments/executive-pay-shareholders-have-failed-to-curb-excesses#When:08:58:48Z Despite public calls for shareholders to get tough on executive pay, a new study of the UK’s highest paid company directors reveals that shareholders are overwhelmingly inclined to approve the pay packets of top directors, just as they were before the crisis STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Business Economics, Management Issues, Government Intervention, Labour Market, UK Economy, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 1, OCR F583, 2014-02-26T08:58:48+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/manufacturing-in-africa http://www.tutor2u.net/blog/index.php/economics/comments/manufacturing-in-africa#When:19:09:15Z Economics coverage of Africa can be a bit bleak (though perhaps it shouldn't be, with incomes rising rapidly in parts of Africa). There are often bad news stories, particularly in terms of human development indicators. News of economic progress often centres on the exploitation of primary commodities, with all the risks and issues that presents.If you hope Africa will experience development, you’re likely to want to see sustained and robust economic growth. That, in turn, will require industrialization. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Human Development, African Economy, Development Economics, Demography, Economic Growth, Global Economy, Macroeconomic Policies, Supply-side policies, Manufacturing Industry, Poverty and Inequality, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, OCR F585, 2014-02-24T19:09:15+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-aggregate-demand1 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-aggregate-demand1#When:15:59:13Z Here is a revision presentation for an AS Macro topic - aggregate demand STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Demand, Capital Investment, Consumer Spending, Saving, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-24T15:59:13+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-and-business-studies-sutton-valence-scho http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-and-business-studies-sutton-valence-scho#When:11:35:59Z So many excellent HOD opportunities are arriving at tutor2u - and here is yet another!  All the details below about how to apply to join this thriving Economics and Business dept. ECONOMICS TEACHER SUPPORT, Teaching Opportunities, 2014-02-24T11:35:59+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-city-of-london-school-for-girls http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-city-of-london-school-for-girls#When:11:17:26Z Another fantastic HOD Economics opportunity here - this time with our friends at City of London School for Girls. Don't forget to mention that you saw this one on the Economics Blog! ECONOMICS TEACHER SUPPORT, Teaching Opportunities, 2014-02-24T11:17:26+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-national-income-and-the-standard-of-living http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-national-income-and-the-standard-of-living#When:15:56:29Z Here is a revision presentation for an AS Macro topic - measuring national income and the standard of living STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Standard of Living, UK Economy, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-23T15:56:29+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-circular-flow-and-macro-objectives http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-circular-flow-and-macro-objectives#When:15:53:15Z Here is a revision presentation for an AS Macro topic - the circular flow and macroeconomic objectives STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Cycles and Shocks, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-22T15:53:15+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/transport-economics-compensation-for-rail-delays http://www.tutor2u.net/blog/index.php/economics/comments/transport-economics-compensation-for-rail-delays#When:00:46:18Z Did you know that most train operating companies will refund 50% of your ticket for a delay of 30 minutes or more, and will double that if the delay is for an hour or longer? And that, if you are travelling by tube, Transport for London offers refunds if your journey is delayed by 15 minutes or more (although you won't get a refund if the delay is caused by a security alert, "third party action" such as a strike or bad weather)? Most probably you didn't, as a survey by the Office of Rail Regulation has found that more than 75% of rail passengers know "not very much" or "nothing at all" about what they are entitled to when services are disrupted.The report also found that 74% of passengers felt that train companies do "not very much" or "nothing at all" to proactively provide information about compensation when there are delays. As Simon Gompertz found in this video report, there are plenty of ways in which the train operating companies could make the information available, whether through instructions on the back of the tickets and announcements on trains to apps. STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Government Intervention, Regulation, 2014-02-22T00:46:18+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/all-the-basics-of-uk-government-debt-and-deficit http://www.tutor2u.net/blog/index.php/economics/comments/all-the-basics-of-uk-government-debt-and-deficit#When:00:23:09Z To follow up on Hugh Pym's video which explains the difference between government debt and government deficit, here is another fantastic resource. Definitions, data and descriptions of debt and deficit, chapter and verse on the structural deficit and on government borrowing. It looks like the perfect lesson resource - as its title says, all you need to know. STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Macroeconomic Policies, Fiscal Policy, UK Economy, 2014-02-22T00:23:09+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-debt-and-deficit-explained-using-coloured-sweets http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-debt-and-deficit-explained-using-coloured-sweets#When:16:16:31Z The BBC's Hugh Pym helps us to avoid a common exam mistake - namely confusing debt with deficit. STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Macroeconomic Policies, Fiscal Policy, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-21T16:16:31+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-hints-on-exam-technique http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-hints-on-exam-technique#When:15:49:54Z Here is an updated revision presentation on aspects of exam technique for the Unit 2 AS Macro paper STUDENT TOPICS, AS Macro, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, REVISION NOTES & PRESENTATIONS, Revision Quizzes, Economics Exam Advice, 2014-02-21T15:49:54+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-facebook-buys-whatsapp http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-facebook-buys-whatsapp#When:10:14:32Z In a bold move in the continuing battle between Facebook and Google to dominate the next phase of digital / mobile growth, Mark Zuckerberg's listed business has agreed an £11bn acquisition of WhatsApp - a deal to be paid in a combination of cash and shares.The total value of the deal is staggering high for a business that employs just over 50 people.The price Facebook is paying for WhatsApp is more than ten times what Google spent on YouTubeIt is more than 20 times what Facebook paid for InstagramThe $19bn paid for WhatsApp works out at $40 for each of its 450m users!The $19bn deal to buy WhatsApp is more than 10% of the annual value of Ukranian GDPWhat are some of the justifications for such a mega-priced deal? STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Business Economics, Management Issues, Oligopoly, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 3, 2014-02-21T10:14:32+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/masters-of-money-friedrich-hayek http://www.tutor2u.net/blog/index.php/economics/comments/masters-of-money-friedrich-hayek#When:14:28:15Z A You Tube version of the BBC documentary on Hayek STUDENT TOPICS, ECONOMICS THEMES, Economic History, 2014-02-20T14:28:15+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/john-maynard-keynes-video-resources1 http://www.tutor2u.net/blog/index.php/economics/comments/john-maynard-keynes-video-resources1#When:14:11:18Z A selection of video resources for students and teachers interested in Keynesian economics STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Macroeconomic Policies, Keynesian Economics, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, 2014-02-20T14:11:18+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/john-maynard-keynes-video-resources http://www.tutor2u.net/blog/index.php/economics/comments/john-maynard-keynes-video-resources#When:14:11:12Z A selection of video resources for students and teachers interested in Keynesian economics STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Macroeconomic Policies, Keynesian Economics, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, 2014-02-20T14:11:12+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/german-revival-exposes-deep-fissure-within-europes-economies http://www.tutor2u.net/blog/index.php/economics/comments/german-revival-exposes-deep-fissure-within-europes-economies#When:13:39:25Z In the 1990s and early 2000s, Germany was seen by many as the new ‘Sick Man of Europe’. Between 1991 and 2005, GDP growth averaged only 1.2 per cent a year, compared to 3.3 per cent in the UK. Since then, the German economy has revived dramatically. The recovery in the German cluster of economies from the financial crisis has been as strong as in the United States, with the previous peak level of output being regained in 2011. Germany itself experienced virtually no increase in unemployment in 2008 and 2009, its exports are at record levels, and even the crisis in the Euro area has not prevented expansion in both output and employment. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Business Economics, Management Issues, Economic Growth, Competitiveness, European Economy, The Euro, Macroeconomic Policies, Supply-side policies, OECD Economies, German Economy, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, 2014-02-20T13:39:25+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/ucas-guide-for-economics-feb-2014-edition http://www.tutor2u.net/blog/index.php/economics/comments/ucas-guide-for-economics-feb-2014-edition#When:11:46:12Z This is an updated version of my advice guide for students wanting to apply for an economics related degree at UK and overseas universities. ECONOMICS TEACHER SUPPORT, University Advice for Economics, 2014-02-20T11:46:12+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-economics-business-at-morpeth-school-tower-hamlets http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-economics-business-at-morpeth-school-tower-hamlets#When:08:25:58Z Many thanks to tutor2u blogger and presenter Stuart Block for alerting us to a superb teaching opportunity to help an outstanding inner city London school develop its Economics & Business Departments.Stuart writes:Morpeth School has been one of the drivers of the rapid improvement in education in the London Borough of Tower Hamlets in recent years. Rated by Ofsted as outstanding last year, a major focus over the next 3 years is improving its 6th form. Economics was introduced for the first time at the school in 2013 and Business Studies has also been re-established at A-level. Although the details are yet to be confirmed, the school will be looking for an economics & business teacher for September 2014 to join the rapidly growing department. If you're interested, do drop the Head of Economics, Stuart Block, an email with your CV at sblock@morpeth.towerhamlets.sch.uk. ECONOMICS TEACHER SUPPORT, Teaching Opportunities, 2014-02-20T08:25:58+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/job-vacancy-head-of-economics-business-at-pangbourne-college http://www.tutor2u.net/blog/index.php/economics/comments/job-vacancy-head-of-economics-business-at-pangbourne-college#When:09:16:49Z Our friends at Pangbourne College have been in touch to ask us to let teaching colleagues know about a HOD opportunity for Economics & Business which is bound to attract some high quality candidates. All the details below. ECONOMICS TEACHER SUPPORT, Teaching Opportunities, 2014-02-19T09:16:49+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/a-new-global-problem-deflation http://www.tutor2u.net/blog/index.php/economics/comments/a-new-global-problem-deflation#When:21:03:38Z As Japan continues to push forward with Abenomics, monetary stimulus tapers off in the USA and and a halt elsewhere in the world alongside still timid business and consumer confidence, deflation becomes a serious risk for the advanced economies in the short term future.The area with the biggest concerns without doubt is the Eurozone with deflation pushing up the real value of still cripplingly large debt levels, worryingly that analysts, forecasters and Eurozone representatives are finding difficult to objectively quantify. What the world really needs to see is business confidence and spending to pick up in advanced economies, fuelling positive inflationary pressure dampening the impact of exported deflation from Japan as a result of Abenomics. The Euro Area have yet another worry to add to their ever growing sickness list, worth watching very closely as to what happens in the coming months. This video explains further: 2014-02-17T21:03:38+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/introducing-economics-tomorrow http://www.tutor2u.net/blog/index.php/economics/comments/introducing-economics-tomorrow#When:14:15:27Z Calling all A Level & IB Economics Students! Write for Economics TomorrowOur goal is to create a magazine that involves the participation of many different schools. Many students share a common interest in economics, and this magazine, along with its auxiliary blog, would provide a useful medium for sharing thoughts, ideas and observations. Initially, the magazine will take the form of a widely distributed, printed publication alongside a dynamic online version. A blog will be set up to facilitate resultant discussion and post additional material. The magazine will be set up in partnership with tutor2u.  We are looking to form a preliminary team of dedicated editors, writers and distributors to be involved in this exciting new project. This opportunity could provide the chance to form a network with both like-minded students as well as eminent economists.  If any are particularly interested in this opportunity and would like to be involved, please email us at economicstomorrow@gmail.com 2014-02-17T14:15:27+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/economax-february-2014 http://www.tutor2u.net/blog/index.php/economics/comments/economax-february-2014#When:13:52:52Z The latest articles on econoMAX - our digital magazine for A Level & IB Economics students - have just been uploaded. A summary of each is provided below.econoMAX features hundreds of articles written by experience Economics teachers and examiners designed to help students develop their understanding of economics during A Level and IB courses. econoMAX is now available as a special whole school/college subscription of just £50 which will run until 31 August 2015 when a new format econoMAX will launch to meet the needs of the new A Level Economics specifications from 1 September 2015. Don't forget, teachers can also order a free econoMAX taster pack containing a selection of recent articles. ECONOMICS TEACHER SUPPORT, econoMAX articles, 2014-02-17T13:52:52+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/economics-news-quiz-20-february-2014 http://www.tutor2u.net/blog/index.php/economics/comments/economics-news-quiz-20-february-2014#When:11:24:39Z Here is our latest ten question quiz on the latest business and economics news - have you been following the news? Can you get 100% first time up and power your way to a top score on Bobble Shoot? REVISION NOTES & PRESENTATIONS, Revision Quizzes, 2014-02-17T11:24:39+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/robert-peston-how-china-ruled-the-world http://www.tutor2u.net/blog/index.php/economics/comments/robert-peston-how-china-ruled-the-world#When:19:22:20Z Robert Peston looks at the astonishing investment in urban infrastructure in China in recent years - 30 new airports, 26,000 miles of motorways and a new skyscraper every five days have been built in China in the last five years - required viewing for those interested in a key aspect of Chinese economic growth and development. Link to How China Ruled the World (BBC World) STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Emerging Economies, Development Economics, China Economy, Cycles and Shocks, Aggregate Supply, Economic Growth, Global Economy, Macroeconomic Policies, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, 2014-02-16T19:22:20+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/ocr-f585-economic-growth-and-development-in-sub-saharan-africa http://www.tutor2u.net/blog/index.php/economics/comments/ocr-f585-economic-growth-and-development-in-sub-saharan-africa#When:21:26:43Z Here are some links relevant to the June 2014 pre-release case study on economic prospects and challenges for the countries of sub Saharan Africa.The IMF expects seven of the world’s fastest growing countries during the next five years will be in Sub-Saharan Africa – Congo, Ethiopia, Ghana, Mozambique, Nigeria, Tanzania, and Zambia. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, African Economy, Development Economics, Global Economy, SPECIFICATION SUPPORT, OCR F585, 2014-02-15T21:26:43+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-economics-of-a-7-minimum-wage http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-economics-of-a-7-minimum-wage#When:13:19:04Z These slides are from our January 2014 revision workshops for unit 3 microeconomics. They focus on some of the arguments surrounding the possible introduction of a £7 per hour national minimum wage in the UK STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Government Intervention, Minimum Prices, Labour Market, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 1, OCR F583, 2014-02-15T13:19:04+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-monopolistic-competition http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-monopolistic-competition#When:11:17:41Z This is an updated revision presentation on aspects of monopolistic competition in markets STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Business Economics, Contestable Markets, Monopolistic Competition, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 3, OCR F583, 2014-02-15T11:17:41+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-information-failures-in-markets http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-information-failures-in-markets#When:10:12:03Z This blog brings together some of our resources on information failures in markets.Click below for:Mo Tanweer's superb revision notes on aspects of information economicsTry our short Zondle revision quiz on information failure STUDENT TOPICS, AS Micro, ECONOMICS THEMES, Government Intervention, Market Failure, Information Failure, SPECIFICATION SUPPORT, AQA ECON 1, Edexcel Unit 1, OCR F581, 2014-02-15T10:12:03+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/behavioural-economics-rory-sutherland-on-valentines-day http://www.tutor2u.net/blog/index.php/economics/comments/behavioural-economics-rory-sutherland-on-valentines-day#When:10:08:42Z Watch this short six minute video to learn how London cabbies are a lot like the ideal boyfriend. Rory Sutherland on excellent form again! In six minutes he discusses sunk costs, commitment devices, human capital, information failures and price discrimination in restaurants on Valentine's Day.  STUDENT TOPICS, ECONOMICS THEMES, Behavioural Economics, Game Theory, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 3, 2014-02-15T10:08:42+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/eurozone-problems-excellent-video-resource http://www.tutor2u.net/blog/index.php/economics/comments/eurozone-problems-excellent-video-resource#When:16:05:18Z Gains from international trade, the history of European economic integration, fiscal and monetary policy, the launch of the €uro and the 2008 financial crisis are all clearly animated and explained in this superb video. In just over 12 minutes it explains the problems of the €urozone and the threats and challenges it still faces. Definitely one to watch for the closing stages of an A2 macro course. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, European Economy, Single Market, The Euro, Exchange Rates, Global Economy, Credit Crunch, International Trade, Macroeconomic Policies, Fiscal Policy, Monetary Policy, Trade Policies, OECD Economies, French Economy, German Economy, Greece Economy, Ireland Economy, Spain Economy, 2014-02-14T16:05:18+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-business-economics http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-business-economics#When:12:14:02Z As we add new articles to the Unit 3 Business Economics Scoop.It page this blog entry will update automatically.  2014-02-14T12:14:02+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/warwick-university-economics-summit http://www.tutor2u.net/blog/index.php/economics/comments/warwick-university-economics-summit#When:12:05:07Z Videos from the annual Warwick Economics Summit can be found from their You Tube channel - there will be something interesting on there for you to enrich and extend your enjoyment of Economics! Here is the link to the channel - click here ECONOMICS TEACHER SUPPORT, University Advice for Economics, 2014-02-14T12:05:07+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/boris-bikes-do-benefits-costs http://www.tutor2u.net/blog/index.php/economics/comments/boris-bikes-do-benefits-costs#When:11:18:24Z Boris Johnson, The Mayor of London, has been happy to extend the use of bicycles in London; and the pattern of use has thrown up some interesting points. There were 7.4 million cycle hire trips last year but an estimated 71% of cycling use was by men. Most of these journeys would have been made on foot (31%) or by public transport (47%). Coverage of the study published in the BMJ looked at the health effects is found here.. The notes in the article, provide good examples of the strengths and weaknesses of cost benefit analysis. STUDENT TOPICS, A2 Micro, AS Micro, ECONOMICS THEMES, Cost Benefit Analysis, Government Intervention, Subsidies, Health Economics, Transport Economics, SPECIFICATION SUPPORT, AQA ECON 1, Edexcel Unit 1, OCR F583, 2014-02-14T11:18:24+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/wilberforce-society-event-22nd-february http://www.tutor2u.net/blog/index.php/economics/comments/wilberforce-society-event-22nd-february#When:10:40:27Z Here are details of a launch event for the newly created Wilberforce Society in Cambridge - The Wilberforce Society’s 2014 Conference is a one day forum. Journalists, politicians, professionals, business leaders, academics, students and many more will come to Cambridge on February 22nd 2014 ready to inform and inspire. 2014-02-14T10:40:27+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/government-underestimates-the-amount-of-student-loans-that-are-likely-to-be http://www.tutor2u.net/blog/index.php/economics/comments/government-underestimates-the-amount-of-student-loans-that-are-likely-to-be#When:10:19:59Z According to a report published by the Parliamentary Public Accounts Committee, the Government are currently underestimating how many students will actually pay back their university loans over the coming decades.  Currently, the Government estimates that between 35 and 40% of loans to Higher Education students are never paid back - the Committee believes that the rate on non-repayment is much higher and reflects a weakness in the loan collection method.  The primary reason for non-repayment is that student details get lost over a period of time particularly if the graduate moves and works abroad or was an EU citizen who has returned to their own country.  The method of using the income tax registration process as a way of locating former students has been criticized for not being an effective method of collecting information.  It is estimated that the shortfall could be as much as £80 million by 2042. STUDENT TOPICS, A2 Micro, AS Micro, ECONOMICS THEMES, Government Intervention, Government Failure, Indirect Taxes, Macroeconomic Policies, Supply-side policies, Market Failure, Information Failure, Merit & De-Merit Goods, SPECIFICATION SUPPORT, AQA ECON 1, AQA ECON3, Edexcel Unit 1, Edexcel Unit 3, OCR F581, OCR F583, 2014-02-14T10:19:59+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-business-watford-grammar-school-girls http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-business-watford-grammar-school-girls#When:10:12:01Z Many thanks to the team at Watford Grammar School for Girls for letting us have an exclusive job vacancy for the tutor2u blogs. What a superb teaching opportunity this is. 2014-02-14T10:12:01+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/online-economics-quizzes-on-the-zondle-app http://www.tutor2u.net/blog/index.php/economics/comments/online-economics-quizzes-on-the-zondle-app#When:09:56:28Z Loads of AS and A2 economics short quizzes and our weekly Economics in the News Quiz can be found on the free Zondle app which is available to download from the App Store! Click here for the appThe Zondle blog is a great way of keeping up to date with the increasing functionality of the Zondle quiz and gaming platform. Click here for details Find our more about Zondle here 2014-02-14T09:56:28+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/geoffs-weekly-economics-news-quiz-13-feb-2014 http://www.tutor2u.net/blog/index.php/economics/comments/geoffs-weekly-economics-news-quiz-13-feb-2014#When:22:54:50Z Here are ten questions from the economics and business news from this week. Have a go and accompany your quiz attempt by playing a Zondle game! REVISION NOTES & PRESENTATIONS, Revision Quizzes, 2014-02-13T22:54:50+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/economics-magazine-project-launch http://www.tutor2u.net/blog/index.php/economics/comments/economics-magazine-project-launch#When:22:19:18Z Two of my students are launching a project to develop an online economic magazine for sixth form students. If you are interested in getting involved please read their project details below! 2014-02-13T22:19:18+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-safety-nets-in-sub-saharan-africa http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-safety-nets-in-sub-saharan-africa#When:22:14:13Z A new World Bank report looks at the growing scale and scope of welfare safety nets in a number of countries in sub Saharan Africa. We tend to take entitlement and access to welfare provision for granted in high income countries. What contribution can a welfare system make to promoting inclusive growth and development. Here is the World Bank's slideshow and follow this link for their latest research papers on the topic. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Human Development, African Economy, Development Economics, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, OCR F585, 2014-02-13T22:14:13+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/bank-of-england-governor-mark-carney-redfines-the-mpcs-role-again http://www.tutor2u.net/blog/index.php/economics/comments/bank-of-england-governor-mark-carney-redfines-the-mpcs-role-again#When:12:46:03Z He might have only had his feet under the Governor's desk for 8 months but BOE Governor Carney has announced changes to the role of the MPC for a second time as forward guidance has been overhauled. STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Demand, Money and Finance, Monetarism, Macroeconomic Policies, Monetary Policy, UK Economy, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, OCR F585, 2014-02-13T12:46:03+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/rethinking-slums http://www.tutor2u.net/blog/index.php/economics/comments/rethinking-slums#When:12:13:37Z You all know about exploding rates of urbanisation and the growth of mega cities. There’s much to celebrate in this trend, and economists are keen to advise countries how to urbanise successfully.After all, for most subsistence farmers, life can be so grim that even life in a slum or shanty town can be a marked improvement. I’ve reluctantly admitted this fact to myself, and come to see slums as a stepping stone on the process of development.A new study, reported in the Economist, suggests I might be wrong, and that we shouldn’t be ready to tolerate slums, and should be more determined to see their eradication – they might even be a barrier to development. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Development Economics, Demography, Housing Economics, Poverty and Inequality, 2014-02-13T12:13:37+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/whats-that-got-to-do-with-the-price-of-...-almonds http://www.tutor2u.net/blog/index.php/economics/comments/whats-that-got-to-do-with-the-price-of-...-almonds#When:12:11:36Z A great case study on the BBC about what has been driving up the price of almonds. Plenty of topics to explore in here: agricultural supply, determinants of demand, derived demand (almond milk), monopoly power, capital intensive production and maybe more. STUDENT TOPICS, AS Micro, ECONOMICS THEMES, Agriculture, Business Economics, Contestable Markets, Monopoly, SPECIFICATION SUPPORT, AQA ECON 1, Edexcel Unit 1, OCR F581, 2014-02-13T12:11:36+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/pre-u-independent-investigations http://www.tutor2u.net/blog/index.php/economics/comments/pre-u-independent-investigations#When:12:08:01Z For the Pre-U Paper 3 Independent Investigations study, pupils are focussed on a variety of topics for independent research.Here are some good resources to help guide current issues on their chosen topics:- China's Economic Rise: China’s Economic Rise: History, Trends, Challenges, and Implications for the United States (hat-tip to Graham Watson!)- The Next Global Development Agenda: from aspiration to delivery (pdf)Millennium Development Goals: LSE Public Lecture2015 was the date set for achieving most of the Millennium Development Goals' targets. United Nations member states have agreed that there should be a post-2015 development agenda aimed at poverty eradication in the context of sustainable development. With negotiations on a new agenda set to begin in late 2014, Helen Clark will reflect on the inputs to the debate thus far and on how consensus can be reached on sustainable development goals. - Watch the lecture here.- The Nudge team - How the Government's successful Behavioural Insights Team has had a profound effect on Whitehall.- In defence of Marxism - crisis of capitalism 2014-02-13T12:08:01+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/forward-guidance-mark-ii http://www.tutor2u.net/blog/index.php/economics/comments/forward-guidance-mark-ii#When:11:57:22Z Forward Guidance Mark II began yesterday as the Forward Guidance Mark I didn't really go as planned, approaching the 7% threshold for unemployment way too quickly for the BoE's comfort. The following video clips discuss some of the issues from yesterday's announcement. Big debate about whether the new Forward Guidance is more fuzzy than it is forward. STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Macroeconomic Policies, Monetary Policy, UK Economy, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, OCR F585, 2014-02-13T11:57:22+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/onions-traders-and-the-environment-agency http://www.tutor2u.net/blog/index.php/economics/comments/onions-traders-and-the-environment-agency#When:22:25:45Z There is something about onions which brings out the worst in bureaucrats. Orlando Figes’ A People’s Tragedy chronicles the early years of the Russian revolution. Under war communism, the Bolsheviks attempted to exert state control over the entire economy. A long list of vegetables was drawn up, specifying the prices at which they could be traded. Through incompetence, onions were omitted. The result was a huge glut of onions, as everyone rushed to take part in one of the very few areas of private enterprise left to them. STUDENT TOPICS, 2014-02-12T22:25:45+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/behavioural-economics-psychology-of-income-inequality http://www.tutor2u.net/blog/index.php/economics/comments/behavioural-economics-psychology-of-income-inequality#When:11:09:05Z A hat-tip to John Shelley for finding this interesting video clip on the behavioural insights of income inequality.It's been said that money is the root of all evil. Does money make people more likely to lie, cheat and steal? Economics correspondent Paul Solman reports on new research from the University of California, Berkeley about how wealth and inequality affects us psychologically.Watch the video clip here. 2014-02-12T11:09:05+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/valentines-challenge-to-comparative-advantage http://www.tutor2u.net/blog/index.php/economics/comments/valentines-challenge-to-comparative-advantage#When:14:03:31Z Sometimes it’s worth challenging a concept that is fundamental to Economics, such as specialisation or the theory of comparative advantage (video here). This crucial theory views international trade as profitable even for a country that can produce every commodity more cheaply than any other country (an absolute advantage). According to Robert Skidelsky, the textbook example is that of a town’s best lawyer who is also its best typist. Provided that she is better at law than at typing, she should specialize in law and leave her secretary to do the typing. That way, both of their earnings will be higher. The same logic applies to countries. Each country should specialize in producing those things that it produces most efficiently, rather than producing a bit of everything, because that way its income will be higher.Why does Skidelsky go on to challenge that view? STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Global Economy, International Trade, Standard of Living, 2014-02-11T14:03:31+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-economics-at-tonbridge-school http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-economics-at-tonbridge-school#When:08:51:20Z Many thanks to the Economics team at Tonbridge for alerting us to this terrific opportunity to join a thriving Economics department. Details below. ECONOMICS TEACHER SUPPORT, Teaching Opportunities, 2014-02-11T08:51:20+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/drugs-and-prostitution-to-be-included-in-gdp http://www.tutor2u.net/blog/index.php/economics/comments/drugs-and-prostitution-to-be-included-in-gdp#When:21:39:37Z EU rules elements of the ‘black’ or ‘parallel’ economy to be included in calculation of UK GDPI have to admit I did a double take when I saw this in The Times today. In other countries (well, the Netherlands in particular) where prostitution and some drugs are legal, these activities are included in the calculation of GDP. 2014-02-10T21:39:37+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/10-questions-on-growth-economics http://www.tutor2u.net/blog/index.php/economics/comments/10-questions-on-growth-economics#When:20:49:55Z Here are some revision questions on economic growth designed as a short revision quiz for A2 macro students - have a go! STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Economic Growth, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, 2014-02-10T20:49:55+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/perfect-competition-vs-monopoly-essay-guide http://www.tutor2u.net/blog/index.php/economics/comments/perfect-competition-vs-monopoly-essay-guide#When:19:22:17Z A quick but informative guide on how to structure an essay evaluating perfect competition and monopoly. For more videos, click here STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Business Economics, Competitive Markets, Monopoly, SPECIFICATION SUPPORT, AQA ECON3, Edexcel Unit 3, 2014-02-10T19:22:17+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/10-questions-on-development-economics-matching-pairs http://www.tutor2u.net/blog/index.php/economics/comments/10-questions-on-development-economics-matching-pairs#When:18:48:49Z Here is a ten question matching-pair quiz covering aspects of development economics - a short revision quiz for A2 macro students created using the free software available from Zondle. Have a go! STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Development Economics, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, 2014-02-10T18:48:49+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/some-of-deloittes-weekly-gems-of-information http://www.tutor2u.net/blog/index.php/economics/comments/some-of-deloittes-weekly-gems-of-information#When:18:29:15Z Deloitte's Chief Economist Ian Stewart produces a weekly Monday Briefing, with analysis of a main topic (this week it's about the outlook for credit growth) plus a selection of news stories which have caught the eye of the Deloitte team. Anyone can subscribe to receive the weekly email briefing, and it is well worth doing so. Here are some of the nuggets from this week's round up:* Shares in a number of American tobacco companies fell on news that the CVS Caremark chain of pharmacies is to stop selling tobacco products * Analysis by Thomson Reuters shows the biggest publicly traded companies in the UK set aside a record amount to settle legal costs in 2013, with banks in particular experiencing increased litigation and regulation * American beer sales fell 4.9% in January according to data from GuestMetrics, and fell the most in Colorado, where the legalization of marijuana has seemingly harmed alcohol sales * British sportscar manufacturer Aston Martin is to recall 18,000 cars, after discovering that a part made by a Chinese supplier contains counterfeit materials * The FT reports 'that the UK governments 'Behavioural Insights Unit', which uses psychology to try to change public behaviour, is expected to be the first of many policy teams to be privatised * The US Postal Service narrowed its losses in the quarter to December, with revenues boosted by a surge in online shopping and package delivery * Shares in Twitter fell almost one-fifth following the release of the firms' first earnings announcement * Sales of artisan breads have increased 8% across the UK in the last year, according to research firm Mintel, apparently driven by the craze for gourmet toast at boutique cafes – slice of success 2014-02-10T18:29:15+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/res-economics-essay-competition-2014 http://www.tutor2u.net/blog/index.php/economics/comments/res-economics-essay-competition-2014#When:09:06:49Z We are pleased to announce details of the annual Royal Economic Society Essay Competition for 2014.Schools and Colleges can order their free full-colour posters from our online store to help promote participation in the 2014 competition. RES Essay Competition 2014, ECONOMICS TEACHER SUPPORT, 2014-02-10T09:06:49+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/pay-and-productivity http://www.tutor2u.net/blog/index.php/economics/comments/pay-and-productivity#When:08:16:08Z David Smith's weekly column in the Sunday Times yesterday is worth getting hold of, to study the conundrum around stagnant productivity and rising employment. He uses data from the ONS to look at average weekly real wages, which started falling in 2008 and are still falling now, to consider whether this year will show a turnaround in real incomes. STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Economic Growth, Labour Market, UK Economy, Unemployment, 2014-02-10T08:16:08+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-is-norway-suffering-from-dutch-disease http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-is-norway-suffering-from-dutch-disease#When:18:04:46Z Norway has for many years recorded an enviable macroeconomic performance. It regularly tops the international rankings for the Human Development Index (HDI) and it has one of the highest figures for GNI per capita (PPP) among developed nations. It records huge current account surpluses in excess of 10% of GDP each year and strong growth and surging revenues from oil and gas production have given the Norwegian government a fiscal position that many other countries would die for!  Unemployment is the lowest of any European country.That said there are some signs that the economy is suffering from an over-dependence on oil and gas - it is at risk of the Dutch Disease? The Dutch Disease is the idea that economic growth from exploiting and exporting natural resources can crowd out investment in other sectors, in part due to a strengthening exchange rate which causes a sharp rise in relative unit labour costs. High wages are also seen as a factor behind a trend decline in the average hours worked and a rise in the drop-out rate from high school education. Manufacturing wages in Norway have climbed by more than 150 per cent since 1997 against just 50 per cent in the US and Germany They are now 60-70 per cent higher than the weighted average of Norway’s trading partners, meaning “that for every hour worked here we need to be 60 per cent more productive”. (FT, 7 Feb 2014) STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Commodities Markets, Cycles and Shocks, Economic Growth, Competitiveness, European Economy, Global Economy, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, 2014-02-09T18:04:46+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-business-studies-gordonstoun-school http://www.tutor2u.net/blog/index.php/economics/comments/teaching-vacancy-head-of-economics-business-studies-gordonstoun-school#When:11:47:43Z Many thanks to the team at Gordonstoun for letting us know about this superb HOD opportunity. Please mention that you saw this on tutor2u if you apply! ECONOMICS TEACHER SUPPORT, Teaching Opportunities, 2014-02-07T11:47:43+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/uk-economy-tidal-lagoons http://www.tutor2u.net/blog/index.php/economics/comments/uk-economy-tidal-lagoons#When:07:27:48Z Cost benefit analysis, economies of scale, energy economics, regional development, economic growth, competitiveness ... there is a veritable a tidal wave of applied economics in this article from the Guardian on plans for Tidal Lagoon Power. STUDENT TOPICS, A2 Macro, AS Macro, ECONOMICS THEMES, Cost Benefit Analysis, Economic Growth, Environmental Economics, Government Intervention, Subsidies, UK Economy, Regional Economics, SPECIFICATION SUPPORT, AQA ECON2, AQA ECON4, Edexcel Unit 2, Edexcel Unit 4, OCR F582, 2014-02-07T07:27:48+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/valentines-day-myth-and-reality http://www.tutor2u.net/blog/index.php/economics/comments/valentines-day-myth-and-reality#When:00:02:18Z Valentine’s Day is almost upon us. Many readers may recall a time when its main purpose was for love-struck teenagers to communicate, anonymously or otherwise, with the objects of their desire. Now, it is big business. It is hardly possible to enter a pub or restaurant without being exhorted to publicly display fidelity and love over extravagant drinks and luxury menus. 2014-02-07T00:02:18+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/transport-economics-airline-passenger-data-for-2013 http://www.tutor2u.net/blog/index.php/economics/comments/transport-economics-airline-passenger-data-for-2013#When:23:23:11Z Are you teaching transport / airline economics? The newly released 2013 IATA data resource might be useful - http://www.iata.org/publications/economics/Documents/passenger-analysis-dec2013.pdf Globally there was a 5.2% increase in passenger demand compared to 2012. The 2013 performance aligns with the average annual growth rate of the past 30 years. Capacity rose 4.8% and load factor averaged 79.5% up 0.4 percentage points over 2012. STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Transport Economics, SPECIFICATION SUPPORT, OCR F583, 2014-02-06T23:23:11+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-quiz-questions-on-the-labour-market http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-quiz-questions-on-the-labour-market#When:22:40:37Z Here is a resource (in editable word format) that I use when introducing the topic of unemployment - I find it works for students to get a sense of the numbers for employment and unemployment when we get onto the policy issues. The resource has the answers at the back!Hope this might prove a useful classroom resource!Here_are_some_questions_on_the_UK_labour_market.docx STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Labour Market, UK Economy, Unemployment, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-06T22:40:37+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-10-questions-on-multiplier-and-accelerator http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-10-questions-on-multiplier-and-accelerator#When:20:41:43Z Here are ten questions for students wanting to check their understanding on the multiplier and the accelerator STUDENT TOPICS, AS Macro, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-06T20:41:43+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/economics-in-the-news-quiz-6-feb-2014 http://www.tutor2u.net/blog/index.php/economics/comments/economics-in-the-news-quiz-6-feb-2014#When:21:04:40Z Here are ten questions relating to the economics and business news from the last seven days. Sign up for free for the Zondle site and access loads of revision quizzes on AS and A2 topics. STUDENT TOPICS, REVISION NOTES & PRESENTATIONS, Revision Quizzes, 2014-02-05T21:04:40+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-currency-instability-in-the-fragile-five http://www.tutor2u.net/blog/index.php/economics/comments/unit-4-macro-currency-instability-in-the-fragile-five#When:20:42:50Z This is a superb article from the Economist for A2 macro students wanting to understand more about the fragility of a large cluster of emerging economies.  STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Emerging Economies, Money and Finance, Global Economy, Macroeconomic Policies, Monetary Policy, SPECIFICATION SUPPORT, AQA ECON4, Edexcel Unit 4, 2014-02-05T20:42:50+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-10-questions-on-exchange-rates http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-10-questions-on-exchange-rates#When:20:33:33Z Here are ten questions for students wanting to check their understanding on exchange rates STUDENT TOPICS, AS Macro, ECONOMICS THEMES, Exchange Rates, SPECIFICATION SUPPORT, AQA ECON2, Edexcel Unit 2, OCR F582, 2014-02-05T20:33:33+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/irish-bonds-no-longer-junk.-what-does-this-mean http://www.tutor2u.net/blog/index.php/economics/comments/irish-bonds-no-longer-junk.-what-does-this-mean#When:16:52:50Z Celebrations in Ireland as the credit ratings agencies no longer regard Irish government debt as ‘junk’, according to the BBC. What does this mean and why does it matter? Here are some bond market reminders and links, helping to explain how governments borrow, and at what cost. STUDENT TOPICS, A2 Macro, ECONOMICS THEMES, Cycles and Shocks, Aggregate Demand, Saving, European Economy, The Euro, Global Economy, Credit Crunch, Macroeconomic Policies, Fiscal Policy, 2014-02-05T16:52:50+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/mediacore-monetary-and-fiscal-policy http://www.tutor2u.net/blog/index.php/economics/comments/mediacore-monetary-and-fiscal-policy#When:15:46:54Z We are experimenting with some new software called Mediacore at Oundle School - to try to promote more flip-teaching and independent learning as well as easier revision.My initial idea was to create short video tutorials explaining key concepts on the topics of fiscal and monetary policy.The pupils are to watch this outside the classroom, and then in the classroom we would follow up with class exercises to check their understanding. The plan is that they will also prove useful for revision.I have put them on a public page so you can view them - note, they are 'unpolished' in terms of presentation but they may be useful to some pupils on the key issues.I have uploaded 11 short audio-video tutorials of me teaching the key points on these topics. 2014-02-05T15:46:54+00:00 http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-the-market-for-in-flight-wifi http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-the-market-for-in-flight-wifi#When:11:03:47Z The market for in-flight wifi is dominated by one service provider and tends to be slow and expensive. This article provides some background. It is an interesting example to think about when considering the different types of economic efficiency i.e. allocative, productive and dynamic. Less than 10% of airline users take up the wifi offer! Consider reasons for this that go beyond the high price! When was the last time you either used or wanted to use wifi on a flight? STUDENT TOPICS, A2 Micro, ECONOMICS THEMES, Business Economics, Monopoly, 2014-02-05T11:03:47+00:00