Unit 1 Micro: Public Goods News Clips
A selection of recent news clips linked to the concept of public goods
The Story of ‘Adam Sugar’ (aka Aggregate Supply)
This is a great activity my HoD Luke McIlvenna did today with our mutual Lower Sixth Economics Class, which helped them to develop and demonstrate their understanding of aggregate supply.
read more...»Unit 2 Macro: China’s Trade Engine is Spluttering
New data suggests that the rapid growth of exports from China is once again slowing down. This Reuters business news video (2 minutes) provides some useful background information on the recent downturn in export and import volumes and mentions that rising imports and a shrinking trade surplus may help the Chinese to rebalance their economy and perhaps provide a demand stimulus for exporters from struggling European countries.
That said the continued weakness of many EU countries will make it difficult for Chinese exporters to maintain sales and employment. During the global recession of 2008-09 millions of workers in Chinese manufacturing industry lost their jobs prompting many to return to their rural homelands in search of work and income.
* Which industries in China are likely to be most affected by a reduction in the growth of exports?
read more...»The Working Poor
Superb Newsnight last night that covers:
- the working poor
- the market failure of income inequality
- the abuse of monopsony power by supermarkets
- the government failure of the National Minimum Wage vs the Living Wage
- the burden on the tax payer of the working poor
Watch it here…
Martin Wolf on Global Shocks
Some notes from the recent BBC analysis programme on the global crisis presented by Martin Wolf in which spoke to a number of
read more...»Stephanie Flanders explains Quantitative Easing in 60 seconds
This has to be amongst the best 60 seconds of Economics you’ll ever see on television. The superb Stephanie Flanders takes a leaf out of the RSA playbook to explain the basic theory behind quantitative easing. Wonderful!!
read more...»econoMAX - latest edition now available
The latest edition of econoMAX, our digital magazine for A Level Economics students and teachers, is now available to subscribers on the econoMAX website. Details of the latest articles below.
School / college subscriptions to econoMAX remain at just £50 per year (for the 7th year running!) - your subscription allows whole-school access and distribution of econoMAX articles, including the entire archive dating back to 2004.
You can order your subscription to econoMAX here.
read more...»A backward step on the Maldives’ road to democracy?
In development economics one of the issues that can often be a barrier to a country’s development is political instability, and it looks like the Maldives will be my case study this year. Read on to find out why
read more...»Competitiveness
A useful entry on the Bond Vigilantes blog on competiveness.
read more...»Teaching Economics: A Perspective from the Classroom
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
read more...»Recommended Reading for Economics (February 2012)
Here is my regularly revised and updated selection of thirty books designed to enhance and enrich your understanding and enjoyment of Economics perhaps as part of an application process for university. I try to ensure that no author appears more than once; some books are due for publication later this spring and summer. Inevitably I have had to leave out many very good books but I stick to my thirty limit! I hope that you enjoy some of them!
read more...»China bans its airlines from paying EU carbon tax
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.
read more...»Teaching Vacancy - Economics (Part-time) at John Lyon School (Harrow)
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!
read more...»Teaching Vacancy - HOD Economics and Business Studies - City of London Freemen’s School
Many thanks to Penny Brooks for letting us have news of this terrific HOD role for Economics/Business Studies in the beautiful Surrey countryside…
read more...»Economics and Business News Quiz 6 February
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
read more...»Daniel Kahneman on decision-making
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
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.
read more...»Russia’s monopoly power over gas supplies
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.
read more...»Unit 1 Micro: Winning the War on Deforestation
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.
read more...»Unit 3 Micro: Richard Wilkinson on Inequality and Economic Harm
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.
read more...»Unit 1 Micro: The Facebook Floatation
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.
read more...»Teaching Vacancy - HOD Economics & Business Studies at Cheltenham College
Many thanks to tutor2u’s Amy Chapman for letting us have first news of this teaching opportunity in the lovely spa town of Cheltenham.
read more...»Teaching Vacancy - Principal Teacher of Business Education - George Heriot’s School (Edinburgh)
A wonderful opportunity to teach economics and business at George Heriot’s School in Edinburgh here…
read more...»U.S.A vs. China: A Visual Comparison of the World’s Largest Economies
Another great infographic below, this time from mint.com, comparing all the important indicators (and the cost of a Big Mac) in an easy to digest graphic.
read more...»Richard Sennett on Cooperation
How many strangers have you met today? Did you meet your 5-a-day stranger target? In an orchestra or dance-troup made up of a team of egos, how do they eventually perform to a high standard night after night? Here are some notes from a talk given at the RSA tonight by the renowned sociologist Richard Sennett on complex cooperation. I took many ideas from this in terms of considering teaching techniques and the use of language in the classroom. Richard Sennett was talking about some of the themes in his new book “Together: The Rituals, Pleasures, and Politics of Cooperation.”
read more...»Trucks are the new way of measuring debt
This is another excellent visualisation to put the scale of Europe’s debt crisis into some sort of perspective.
Ben has already blogged about this kind of visualisation in terms of the US Budget here and US debt here.
Unit 2 Macro:Video Resources on Human Development Data
Here is a short collection of short video resources on measuring human development with specific reference to the annual human development report and to progress in improving welfare in countries such as Kenya and Brazil
read more...»Unit 2 Macro: Growth and Development - Some Indicators
The dictionary definition of ‘development’ is to improve, to progress, or to grow – but development is not just about growth! It is concerned with the improvement of human welfare within an economy, and so it encompasses concepts such as the standard of living, cultural identity and political freedom.
read more...»Teaching Vacancy - Economics & Business at Canford School
Many thanks to Stephen Grant for letting us have details of an opportunity to teach in a thriving Economics & Business department in a quite simply stunning part of the country - Canford School. Applications need to be in by 1 February 2012, so move quickly!
read more...»Unit 2 Macro: Signs of Progress for Zimbabwe
Just a few years ago the Zimbabwean economy was in collapse and meltdown and the political system on the point of disintegration under the disastrous handling of the dictator Robert Mugabe. When hyperinflation ruled, a sign once appeared in the toilets of a hotel in Harare, “please do not flush Zimbabwean dollars down the toilets”
Three years since the creation of a coalition government, there are some tentative but notable signs of improvement. Inflation has fallen and the use of the US dollar and other regional currencies as legal tender has helped to finance essential imports of basic products. Unemployment remains above 75% of the labour force and there is huge absolute poverty, but the glimmers of hope are there as shown by this recent news report from AlJazeerah English.
read more...»
