Fishing and the Tragedy of the Commons
The Observer ran a special feature at the weekend about the global fishing crisis that results from over-fishing and the permanent reduction in fish stocks
read more...»Asian Rice Crisis
The credit crunch is rivalled, arguably, by increasing food prices as a cause of economic (and human) concern in 2008.
This article from the BBC looks at some of the implications and you can watch/show videos on the rice crisis here.
read more...»Chart of the Day: The Falling Dollar and Oil at $110
Crude oil prices are spiking higher again driven higher by signs of further reductions in oil stocks (inventories) - which creates a stampede among investors to buy whatever stocks might be available - but also by the continuing decline in the value of the US dollar. Covered in this BBC news article and also here in the International Herald Tribune.
Revision: Stocks and Prices
Many AS microeconomics questions revolve around the volatility of soft commodities such as coffee, crude oil, rubber and tea and harder commodities such as iron ore, copper, tin and platinum. It is important to be aware of the important link between stocks and changes in market prices, especially in an age when commodities have become a new asset class with much more speculative activity than before. Stocks are also important in many other sectors of the economy – for example the property market and the market for carbon permits.
Revision note
Revision_Stocks_Prices.pdf
Powerpoint charts
Stocks_and_Prices.ppt
