Revision Presentation - Positive Externalities
In this revision presentation we take a look at positive externalities:
Launch interactive revision presentation on positive externalities
Revision Presentation - Public Goods
This updated and extended revision presentation examines the core concept of public goods.
Launch interactive presentation on public goods
Revision Presentation - EU & Carbon Emissions Trading
This new revision presentation covers the policy and practice of carbon emissions trading in the European Union.
Launch presentation on EU & Carbon Emissions Trading
Alcohol information failure
Shadow Health Secretary Andrew Lansley was interviewed on radio 4’s Today Programme about the Conservative Party’s call for changes to labelling on alcoholic drinks. They say the current approach of using alcohol units is widely misunderstood, and want it replaced with centilitres. Mr Lansley identified the negative externalities associated with abuse of alcohol as costing £20bn to society, and said that the current system of information, printing the number of units contained in a bottle or can of alcoholic drink, did not allow the public to make decisions about how much to drink, as the implication is that one ‘serving’ of the drink is the equivalent one unit.
However this is often not the case – a typical glass of wine is between 1.5 and 2 units, and a pint of beer or lager can be more than two units, depending on the alcohol content of the brew. Instead the Tories would like to see the number of centilitres of pure alcohol shown on the label, suggesting that this would be easier for consumers to relate to the total amount they are drinking, rather like showing the amount of saturated fats in foods as grams, which are easier to assess as a proportion of the total food weight rather than showing the amount in calories.
read more...»How Markets Fail - the logic of economic calamities
A huge number of well-known economists and a remarkable number of ideas make an appearance in John Cassidy’s new book How Markets Fail – the logic of economic calamities. From Akerlof and Arrow to Von Neumann and Walras, John Cassidy’s ambitious and lucid work takes us on a swift journey through over two hundred years of economic thought and policy-making through to the moment when the global financial system stared over the abyss in the early autumn of 2008.
read more...»Google Wave: Benefits and Costs of Monopoly
The number of Google Wavers among the Economics teaching community continues to grow. Last night we generated ideas and resources useful in evaluating the impact of monopoly power in markets - the results are shown below
read more...»Government legislation week
In time for the start of term, there is lots of legislation coming into force this week. There’s the third rise in petrol duty in nine months, starting today, with the return of VAT to 17.5% at the end of year to come – is this the price of going green, or the price of a budget deficit?
read more...»Market Failure in Pictures!
I loved Ruth Tarrant’s idea (presented at the conference this week) to create a sketch which captures so many different market failures. Pictonomics is the embryonic title for the teaching concept and it is an idea that enthused the 170+ strong audience at the British Library - within twenty minutes we have unearthed over fifty examples of potential market failure just from the existing sketch alone! As a supplementary exercise we were asked to suggest fresh ideas for market (and possible government failure) in the same landscape!
Could the same be done in other areas of economics? For example macroeconomic factors affecting a local town? Or perhaps aspects of development / international economics (a sketch based around a trading port?)
Revision - Labour Market Failure (presentation)
Here is a revised streamed presentation on market failure in the labour market
read more...»Causes of the Crunch
What links the following?
China
The liquidity bubble
Search for yield
Sub-prime lending
Leverage
Originate and distribute
Alan Greenspan
The Democrats
The Republicans
Regulators
Credit rating agencies
Financial Services Authority
Greedy bankers
Consumers/housebuyers
Margaret Thatcher
Moral hazard
Gordon Brown
Mark-to-market accounting
Basel 2
Estate agents
According to Sean Farrell and Sean O’Grady from the Independent, they have all contributed in one way or another to the credit crunch. Here is the link to what is an excellent background article for students.
Most Popular Topic Tags on the Economics Blog
recession, demand, economics, unemployment, prices, price, inflation, investment, costs, trade, profit, employment, debt, supply, downturn, euro, gdp, confidence, competition, risk, china, capacity, exports, production, incentives, oil, expectations, manufacturing, sterling, housing, pay, food, profits, banks, tutor2u, globalisation, mortgage, property, revision, retailers, slowdown, borrowing, usa, innovation, emissions, dollar, deflation, airlines, supermarkets, entrepreneur, monopsony, efficiency, productivity, google, moodle, elasticity, wealth, aqa, keynes, protectionism, welfare, consumption, externalities, saving, opec, economist, inequality, strategy, depression, competitiveness, economic cycle, tim harford, stocks, depreciation, jobs, monopoly, infrastructure, carbon, credit crunch, poverty, cars, eu, bank of england, vle, environmental, carbon trading, spare capacity, budget deficit, environment, subsidy, wages, market failure, management, regulation, evaluation, output gap, losses, behavioural, government failure, steel, climate change, construction, macroeconomics, imports, oligopoly, japan, bbc, skills, cpi, commodities, farming, newsnight, paul mason, fiscal stimulus, intervention, multiplier effect, single market, currencies, population, stagflation, contestable, itunes, lse, agflation, minimum wage, interest rates, choices, aviation, amazon, quantitative easing, taxes, germany, uk economy, monetary policy, cartel, survey, nationalisation, india, brazil, rpi, pricing, dan ariely, opportunity cost, apple, pollution, oecd, rationality, keynes society, rsa, relative poverty, shipping, iphone, capital, merger, currency, imf, balance of payments, yuan, tragedy of the commons, price discrimination, current account, economies of scale, redundancies, london, savings, facebook, stakeholders, shareholder, behavioural economics, mpc, supply chain, liquidity, takeover, barriers to entry, reputation, income elasticity, poverty trap, microsoft, hamish mcrae, human capital, subsidies, discrimination, roger bootle, federal reserve, duopoly, robert peston, immigration, suppliers, us economy, quiz, gini coefficient, collapse, coffee, obama, pensions, development, national debt, consumer surplus, crowding out, etonomics, eurozone, crude oil, scarcity, labour market, ecb, petrol, taxation, tesco, free, brand, paradox of thrift, smoking, budget, transport, cost of living, labour mobility, liquidity trap, speculation, global, recovery, starbucks, allocative efficiency, iceland, behaviour, surplus, david smith, waste, shareholders, ireland, information failure, happiness, growth, open source, vat, creative destruction, cost benefit analysis, trade deficit, tariffs, northern rock, edinburgh, scrappage, comparative advantage, ownership, robert frank, ocr economics, aggregate demand, freight, diane coyle, royal economic society, eton college, kaletsky, exploitation, fishing, labour force survey, government borrowing, utility, edexcel economics, sony, leverage, marginal cost, tax, paul krugman, information, discounting, animal spirits, peter day, contestable market, anchoring, nissan, zimbabwe, needs, european union, savings ratio, wiki, internet, public sector, public goods, evan davis, heathrow, price war, hotels, energy, standard of living, contestability, wants, hbos, stephanie flanders, twitter, blog, migrants, poland, consumer welfare, aqa economics, spain, devaluation, pubs, milk, foreign exchange, advertising, indirect tax, forecast, external shocks, eu enlargement, movies, enlargement, mervyn king, bond, income elasticity of demand, property rights, blogging, ebea, accelerator, edmund conway, deforestation, house prices, copper, hot money, ucas, jim o'neill, trend growth, bonds, elasticity of supply, libor, income, carbon tax, diesel, income tax, accelerator effect, jobless, law of unintended consequences, bric economies, guardian, youth unemployment, deficit, john kay, google wave, fixed costs, sub-prime, global economy, economic efficiency, exchange rates, biofuel, vacancies, research, profit margin, renewable, companies, price capping, joint venture, price mechanism, startups, natural monopoly, world bank, martin wolf, training, competition commission, gilts, geoff riley, immobility, coal, fairness, producer surplus, congestion, greece, redundancy, social costs, will king, sentiment, corus, base rate, walmart, ageing population, disposable income, equity, collusion, tickets, oil prices, fair trade, dynamic efficiency, obesity, social entrepreneur, binge drinking, philip allan, russia, real income, res, low pay, price fixing, king of shaves, vehicles, broadband, cash, tariff, hysteresis, tata, supply-side, compound interest, contestable markets, positional goods, government spending, eastern europe, internet explorer, income distribution, economax, repossession, general motors, sustainability, age structure, frictional, satisficing, students, green shoots, ftse, yahoo, logic of life, pay floor, disincentives, negative externalities, oft, aldi, resources, gillette, liberalisation, blackberry, migration, economics revision, financial times, fiscal drag, healthcare, asda, market structure, cadbury, credit, ryanair, wheat, market power, winners curse, apprenticeships, demography, cyclical, british airways, deindustrialisation, hidden unemployment, sovereign debt, credit cards, declan curry, nokia, renewable energy, optimal currency area, markets, anti-trust, public good, decoupling, rory cellan-jones, diseconomies of scale, pension, the economist, barclays, economic welfare, tax burden, undercover economist, child poverty, retailing, landfill, schumpeter, gold, veblen goods, enterprise, brics, redistribution, floating exchange rate, vertical integration, structural, unintended consequences, job losses, nairu, costa, monetary policy committee, nhs, reserve currency, single currency, football, drugs, nelson thornes, scotland, deleveraging, green revolution, hyperinflation, automatic stabilisers, collaboration, monopoly power, podcast, o2, motor industry, pay cuts, real gdp, ocr as economics, global business,All tags
ECONOMICS TEACHER RESOURCE NEWSLETTER
Join over 4,000 other Economics Teachers in the UK and around the world who receive the tutor2u Economics Resource Email newsletter. Get special offers, first news of latest resources, teaching ideas, conferences and workshops.
Recent Threads on the Economics Teacher Discussion Forums:
Posts in: General Economics Teaching
Need help. - Economic Growth
Economies of scale presentation A2
Economic development
International Competitiveness
Keynesian Aggregate Supply
Demand Supply (% VAT Imposed) How to...?
Policy conflict and the Euro
Registering for the tutor2u VLU
Video Case-study - lunchtime prices slashed
Long Exam Example to Use for Revision Please?
