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Economics effects of Global Warming

Friday, May 24, 2013

Global Warming is happening - but is it having a negative economic consequence?

Dr Lomborg's website has some very interesting views about the need to tackle climate change 

read more...»

Economy tracker

Wednesday, May 16, 2012

The BBCs economy tracker has been updated with the latest unemployment figures. This is a great resource to use in the classroom. Click here to go to it.
Particularly great for revision, students will be able to see what has happened to unemployment over time and also read about unemployment.

How do interest rates work

Saturday, May 12, 2012

Here is a great sort video for revision from Business Basic that explains about interest rates.

Click here

The north south divide

Wednesday, May 09, 2012

This is a great piece of data to help you look at cost of living and the North/South divide.

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Inflation basket

Tuesday, March 13, 2012

The constituent parts of the basket that makes up the measure for CPI & RPI inflation is being updated to reflect changes in trends.

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Happiness

Wednesday, February 01, 2012

The world of work has fundamentally; more part time and flexible working hours. However this is not a change which is making many of us happy, according to the Chartered Institute of Personnel and Development.
A report, published today, examines working life in 1952 – and what it is like for workers in this country 60 years later.

read more...»

Figure of the day - unemployment

Wednesday, January 18, 2012

Just watching the news and I heard a great statistic that you could use with your students this week. For every job vacancy in the UK there are 5.8 unemployed people. Five years ago this figure was 2.8.

Should the Pound shop be renamed?

Tuesday, January 17, 2012

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Supermarket price wars cause inflation fall

Figures released today show that inflation has fallen to 4.2% in December. Many retailers, in particular the supermarkets launched heavy tactics to ensure sales in the run up to Christmas.
A supermarket price war broke out after Tesco announced a £500 million price-cutting campaign, Asda guaranteed to be 10% cheaper than its rivals and Sainsbury’s launched its own brand price matching scheme.

read more...»

The grocery shop is getting cheaper!

Sunday, January 08, 2012

A great article here for students to get to grips with what real terms is. Comparing the grocery shop today with what it would have cost in1862 shows that A Victorian shopper would have needed £1,254.17 in real terms to fill their weekly basket with a selected range of food, drink and house-hold items, compared with £93.95 today.

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Unemployment rises again

Thursday, December 15, 2011


With the news yesterday that unemployment has once again risen there is a huge number of useful articles to use with our students.
First of all here is a great short video.

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Tax - do you pay in more than you get back?

Wednesday, November 23, 2011

This is a great tax calculator from the BBC. You could make up some fictitious households for your students to compare. A great tool to look at tax and benefits in the UK. There is also a short video to introduce the topic.

Inflation - great short video

Tuesday, November 15, 2011

I showed my class this really good short video on inflation this morning. It is great as a recap or a starter on inflation. Lots of the key points students need to know are in there.

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VAT relief on DVDs

Wednesday, November 09, 2011

The Treasury is scrapping an exemption on VAT for goods valued at less than £15 dispatched from the Channel Islands

read more...»

Inflation - interactive guide

Tuesday, October 18, 2011

The updated inflation interactive guide is here. Following the announcement earlier today that inflation has jumped to 5.2%. The interactive guide is a great way for students to get an idea of what has been going on with inflation since 2006.

Unemployment hot spots

Thursday, September 08, 2011

Liverpool, Nottingham and Glasgow have found themselves, for the second year running, with the highest level of households where no-one is in work. Liverpool and Glasgow the figures actually fell in the past year from 32.1% and 31.1% to 31.9% and 30.7%. However in Nottingham it increased from 31.3% to 31.6%.

 

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Great graphic for a starter

Saturday, August 27, 2011

As we all start to think about the start of term here is a good graphic that could be used for a starter lesson for getting the students to start thinking about macroeconomics.
image

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Unemployment map

Friday, July 22, 2011

This unemployment map would make a greater starter for a discussion on consequences of unemployment. It shows a real North-South divide opening up.

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Squeeze on family income

Wednesday, June 08, 2011

Food prices have hit a two year high putting a big strain on family incomes. I have certainly noticed in the past 6 months my weekly food bill is rising almost week by week, even though I am buying the same things!
With the price of petrol, insurance and energy also rising alongside wage freezes in some sectors, families are facing a very tough balancing act.

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Petrol pushes cost of owning a car up

Monday, June 06, 2011

We have all seen the constantly increasing price of petrol in recent times. So you will not be surprised to hear that the increasing cost of petrol is one of the main factors causing the cost of running a car to jump by 20%. In addition insurance premiums have risen significantly.

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Inflation up again

Tuesday, May 17, 2011

Figures released today show that the CPI has risen to 4.5% in April. This is a larger than expected rise.
image
Click here for a great short video.
And for those students working on their revision ahead of their exams the BBC have produced a great short article “Inflation explained”

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Eurozone crisis in graphics

Sunday, May 15, 2011

Here is a great set of data on the Eurozone crisis from the BBC. Graphs showing the budget deficits, GDP, unemployment and debt in the Eurozone countries and the UK. This is great for setting practice data questions and revision of some key topics.

Budget 2011 - how will it affect you?

Friday, March 25, 2011

Another great interactive guide from the Guardian, this time it looks at how the 2011 budget will affect different people. The guide is packed full of key terms so would be excellent as a revision exercise.

Budget 2011 - how much tax?

Thursday, March 24, 2011

The Guardian have once again come up trumps with a great interactive guide to how much tax will be raised from the new budget. It would make a great lesson activity, giving the students the grid and the list of taxes and asking them to decide which brings in the most and least money.

Budget 2011 - government income and expenditure

Wednesday, March 23, 2011

Here is a great graphic on the income and expenditure of the government. It would make a great revision exercise for taxation and spending.

iPhone in, shoulder of pork out

Tuesday, March 15, 2011

The Office for National Statistics has announced the changes to the basket of goods used to calculate inflation. Smartphones and ‘apps’ along with dating agency fees have gone into the basket. On the outgoing list is shoulder of pork, women’s fleece jackets and hardboard.
The ONS collects about 180,000 prices every month for a basket of about 650 goods and services - the most comprehensive survey of its kind in the UK.

read more...»

Great short video on interest rates

Tuesday, March 08, 2011

Here is a great video on interest rates and why a rise might not be a great idea. It contains lots of great concepts for students to discuss.

Great inflation resources

Tuesday, February 15, 2011

Once again we have seen a rise in the inflation rate. January saw inflation measured by the CPI rise from 3.7% to 4%. The data below would be great for a data description question:

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Takeaways face a fat tax

Friday, February 04, 2011

Obesity seems to becoming a bigger concern for the government as the number of overweight people in the UK rises and causes knock effects on health and work. The government are now considering placing a ‘fat tax’ on takeaways. Burger bars, kebab houses and fish and chip shops would be forced to pay the £1,000 before being allowed to open their doors to the public. This would also hit High Street fast food giants like McDonald’s, KFC, Burger King, Pizza Hut and Dominos.

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Fun Friday - Happiness!

Friday, January 28, 2011

Mervyn King, governor of the Bank of England, has referenced the Ken Dodd 1964 song “Happiness” in his recent speech about the global economy. King said: “When it comes to measuring success, don’t count money count happiness. The advice of Ken Dodd in 1964.”
So what is more important to your students?

Delicious data - shock contraction in UK economy

Tuesday, January 25, 2011

Figures released today showing that the UK economy contracted by 0.5% in the last quarter of 2010 where said to have shocked many economic analysts.
The following data would make an excellent question describing data

To read more on the shrinking economy click on the following links:
Article 1
Article 2
Article 3

VAT - great teaching resource

Monday, January 24, 2011

Here is a great set of notes from the BBC Newsbeat for teaching GCSE students about VAT and the recent increase in it.

Petrol prices - where does the money go

This is a great short video from Declan Curry on petrol prices and where the money goes. It would make a great starter for indirect taxes.

1 in 5 16-24 year olds out of work

Wednesday, January 19, 2011

As unemployment rises once again new figures reveal that 20.3% of 16 to 24 year olds are out of work. The unemployment rate now stands at 7.9%
This is a great short video

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What do these 4 items have in common?

Tuesday, January 18, 2011

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Burton’s biscuits - regional unemployment

Wednesday, January 12, 2011

Burton’s biscuits, the makers of Jammie Dodgers and Wagon Wheels have announced they are to close their factory on the Wirral. This will cause a loss of 342 jobs. They are also making 70 people redundant at their Newport factory.
This article would make excellent reading and could be used to ask pupils some exam style questions:

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VAT rise from midnight

Tuesday, January 04, 2011

There are some great articles and short video’s out there at the moment about the VAT rise from 17.5% to 20% today. These would make excellent resources for teaching and revising the topic of indirect taxes.

BBC short video
Article 1
Article 2
Article 3

How the inflation rise will affect the Christmas dinner

Tuesday, December 14, 2010

The November inflation figure has been announced and has risen to 3.3%. This short video explains how the rise in inflation is going to affect your Christmas dinner.

Great video - UK employment figures

Wednesday, December 08, 2010

At this time of year it is great to have one or two video’s up our sleeves. This short video from the BBC is jam packed with economic concepts. John Micklethwait, editor in chief at the Economist, is talking about the UK economy. Perhaps you could get your students to write down all the economic concepts they hear in the video. It could also spark some interesting discussions. Also you could play concept bingo with this, by preparing grids with concepts and when a student hears a concept in the video which they have on their grid they can cross it off.

The changing high street

Monday, December 06, 2010

The BBC have conducted some very interesting research on how the recent recession has changed the high street. From the percentage of vacant shops to the change in type of shop filling the high street, the data shows that the recession really has had a large impact. Click here to see the data.

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Household spending falls

Wednesday, December 01, 2010

Statistics released this week show that family household spending has fallen for the first time in 10 years. This a clearly an impact of the recession.  According to the survey the average household spent £455 a week last year, down from £471 a week in 2008.

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Innocent smoothies and VAT

Tuesday, November 23, 2010

VAT, an indirect tax, is added to most goods, the standard rate of 17.5% is due to rise to 20% from the 4th January 2011. The reduced rate of 5% is for gas and electricity and children’s car seats. There is also a zero rate for most food items, children’s clothes and books, newspapers and magazines.
Innocent smoothies have been fighting a legal battle claiming that their 100% fruit smoothies should not be subjected to the standard rate but in fact should have the zero rate.

read more...»

Inflation up again

Tuesday, November 16, 2010

The Office for National Statistics has just announced that the CPI has risen to 3.2% from 3.1% the previous month.

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Graduate unemployment highest for 20 years

Tuesday, November 02, 2010

We have always been told go to university and you have a much better chance of getting a job. Well it would seem that at present this is not true as unemployment among graduates reaches the highest levels since the early 90’s. 8.9% of last years graduates were still unemployed 6 months after graduating.

Here is a great short video which could get a discussion going on the problems of high unemployment amongst graduates.

and one here from BBC news

World statistics day - UK data

Wednesday, October 20, 2010

Another great data blog from the Guardian today. As part of World Statistics day the Office for National statistics have put together a spreadsheet on interesting UK data. This would be great for discussing standard of living.

Government spending cuts - what would you do

Tuesday, October 19, 2010

This is a great task for students ahead of tomorrows announcement of spending cuts.A great resource from the Guardian which will hopefully spark some debate with your students.

Great inflation video

Tuesday, October 12, 2010

As the inflation figure announced today showed no change at 3.1% this video is great for explaining the reasons behind the higher than desired rate.

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Great video - UK Economic Growth

Tuesday, September 28, 2010

A great video here on UK economic growth, it would make a great starter. There are lots of good ideas and economic concepts contained within.

Who ate all the pies?

Sunday, September 19, 2010

The UK did!
According to research conducted by Mintel the sale of pies and pasties increased by £1bn. Mintel’s Vivianne Ihekweazu said: “Consumers returned to the familiar as the economic downturn put a dent in their disposable income, forcing them to reconsider their spending priorities.

read more...»

Great inflation video

Wednesday, September 15, 2010

The BBC have produced a great short video on inflation. It would make a greater starter for year 11.

Delicious data (2) - Inflation

Tuesday, September 14, 2010

Today the August figure for inflation was released. Standing at 3.1% the figure stayed the same from July, however it is still above the government target of 2%. This article is a great read to explain what is going up and what is going down.

The data below would be a great homework or class task, getting students to describe the changes in the CPI between 2008 and 2010….

read more...»

North - South divide still exists

Thursday, September 09, 2010

The BBC have done some great research on the north - south divide. The have put all their data together to produce an interactive resource ranking areas of the country on areas like insolvency, business start-ups and skilled workers. Click here for the guide.

Interest Rates - great video

Unsurprisingly the Bank of England today chose to keep interest rates at 0.5%. Even though inflation measured by the CPI is 3.1% and therefore well above the target of 2%.
Declan Curry has done a great short video explaining why interest rates matter.

Global food prices on the rise - great video

Sunday, September 05, 2010

Another great video. This one is discussing the rising price of food.
A great task to start at the beginning of the school year is to give the pupils a list of food items they can buy in the supermarket asking them to record the price each month. Perhaps ask different groups of pupils to go to different supermarkets and local shops. This would make an interesting task and feeds nicely into the topic of inflation.

Great short video for year 10 economists - Darling two years on

Monday, August 30, 2010

A good way to get new year 10 Economists thinking about Economics is with a short video, this one would be great. It gives students lots of economic terms to think about.

New interactive guide

Sunday, August 29, 2010

The Guardian have produced another great interactive guide, this time showing how economies across the world are recovering. Click here for the guide. This would be a great start to the international module for OCR.

Great short video - Economy continues to grow

Wednesday, July 07, 2010

As the end of term approaches it is nice to have some short video’s to keep the pupils going. This BBC video about the growth of the economy is great with some really good statistics. It could be the beginning of a mini project using data on the economy.

More inflation

Friday, May 28, 2010

This chart is great to use with groups as you revise inflation.

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Inflation revision

Wednesday, May 26, 2010

As we see inflation above the Bank of England target of 2% again concerns turn to those who will be most affected by it. This article is great for revision to help students understand who loses out due to inflation.

Would you be happy receiving chocolate instead of interest?

Monday, May 24, 2010

Hotel Chocolate have decided to offer bonds to its most loyal customers. Instead of saving in the bank and getting very little in the way of interest some customers will be offered the opportunity to invest £2,000 upwards in a three year bond. In return investors will receive a free box of chocolates worth £18 every two months.

read more...»

World Cup Economic Data - end of term project

Sunday, May 23, 2010

With the World Cup in South Africa starting on 11th June it is a great opportunity to link in with world economic data.

read more...»

Inflation revision

Tuesday, May 18, 2010

With the news today that the CPI has risen to a 17 month high of 3.7% it presents a great opportunity to revise inflation.

read more...»

Taxation revision

Thursday, May 13, 2010

With an imminent emergency budget there has been a lot of information in the news about taxation and spending. This BBC article is particularly good for a revision lesson on taxation.

Business Basics - What is GDP?

Friday, April 23, 2010

Working Lunch’s Declan Curry explains just what GDP stands for, and why we should care.

Great macro revision video

Thursday, April 22, 2010

This video makes a great revision tool, there are lots of key economic concepts talked about. Students could be asked to watch the video and jot down as many concepts that are in the video as they can and then they could make a glossary with the definitions.

Wurzels lead fight against tax hike on strong cider

Thursday, March 25, 2010

Perhaps this one is more for the teachers reading, do you remember the Wurzels? They had hit singles in 1976 with “I am a cider drinker” and “Combine Harvester”. They are leading the revolt over
Alistair Darling’s plans in his budget to place a 10% increase in the tax on strong cider.

read more...»

Budget - starter activity

The Guardian have produced another great interactive guide to the governments finances. It would make a great discussion starter.
Also the BBC have a great set of data on the UK economy at present.

Prices still rising

Wednesday, March 03, 2010

Inflation measured by the CPI is currently at 3.5%, outside of the Bank of England’s target window. It is also much higher than many of our European Union counterparts. Have you noticed the prices in the supermarkets rising?

read more...»

Great short macro video

Monday, March 01, 2010

Sky news have put up this great short video of Darling discussing the recent increase in economic growth. The 47 second clip is packed full economic concepts any of which could spark a discussion.

Great interactive data from the FT

Sunday, February 28, 2010

Here is some great interactive data from the FT. The data looks at the CPI, unemployment, trade balance, consumer confidence and manufacturing survey from February 2008 and now. You will have to register if you haven’t already, but it is free to do so.

Fun Fact Friday - What’s hot and what’s not in the recession

Friday, February 19, 2010

This weeks fun fact Friday looks at the items in our shopping basket that are up and down in the recession.

read more...»

Food prices on the rise again

Monday, February 08, 2010

This BBC video explains how increases in VAT and food prices are affecting people, in particular those on low incomes. It would make a great starter on VAT (why are some goods exempt?) and also on inflation.

The National Debt in 3 minutes

Thursday, February 04, 2010

This is a great 3 minute video on the UK’s national debt. It would make a great starter for talking about fiscal policy.

The UK Pay gap - quiz

Wednesday, January 27, 2010

The BBC reports that the rich-poor divide is wider than 40 years ago (article)

They have also produced this great quiz on the UK pay gap. It would make a greater starter activity or lead in to a discussion on the gap between the rich and the poor in the UK.

Unemployment down - but concerns about the young

Thursday, January 21, 2010

As unemployment dropped this month to 2.46m people concerns remain about the large number of young people who are out of work. Total unemployment stood at 2.46 million for the three months to November, down 7,000 on the figure for the previous three months.This is a great video on youth unemployment.

read more...»

Have you noticed the rise in VAT?

Friday, January 08, 2010

As we all know the VAT rate went back up to 17.5% having been at just 15% since December 2008. When I was out shopping earlier in the week I saw a notice in White Stuff saying that they were not going to increase their prices with the VAT rise. This led me to thinking how many other shops are doing the same?

read more...»

Winners and losers of the big freeze

Thursday, January 07, 2010

Many of us are affected by the snow that has blanketed the UK this week. How has it affected the UK economy? Many businesses are working on a skeleton staff as employees. Some though are finding that they are benefiting from the bad weather. Debenhams has seen a spike in sales of thermal underwear, faux-fur coats and, surprisingly, swimsuits.

read more...»

Interest Rates and Exchange Rates - video

As the Monetary Policy Committee are due to announce their decision on interest rates the BBC have put this great short video on their website. It explains the effects that the low interest rates are having on imports and exports in the UK. Interest rates are expected to stay low for the rest of this year, great for borrowers but a real problem for savers.

PBR - Q&A

Thursday, December 10, 2009

Well there is so much about the Pre Budget Report I thought I would add to it with this great Q&A  from the Times. It makes some of the changes much easier to understand for GCSE students. There is also a great little video at the top of the page which would act as a great starter.

Great interactive data on budget deficits around the world

Thursday, November 19, 2009

The BBC have produced a fantastic visual interactive map of budget deficits across the world between 2007 and 2010. It would make a great starter activity or a main part to a lesson on government budgets.

Bit of fun on a Saturday morning - Youth unemployment

Saturday, November 14, 2009

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Booming businesses in the recession

Monday, November 09, 2009

We have all heard lots about the numerous businesses that have lost out to the recession. We have not heard so much about the businesses that have done well out of falling incomes and increased unemployment.

read more...»

How would you spend £38bn?

Wednesday, November 04, 2009

As the amount the government have pumped into the banking system in the UK continues to rise, the Guardian looks at what else this huge sum of money could be spent on.

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L, U, W, V or bathtub shaped?

Saturday, October 31, 2009

No doubt we have all heard the various letters and shapes that have been suggested for the shape of this recession. This article in the Guardian would make a great start to the half term possibly prompting an interesting discussion.

Great data on the global recession

Saturday, October 24, 2009

The Guardian has once again produced a great guide  to the countries that are still in recession and those that are beating it.

The UK still in recession - some great resources

Friday, October 23, 2009

As it was announced today that the UK remains in recession with the economy unexpectedly contracting 0.4% between July and September, there are some great resources around for teaching economic growth and GDP. The graph below from the BBC shows this recession and the last.

read more...»

More interactive unemployment data

Friday, October 16, 2009

Following the announcement that unemployment is still rising but at a slower rate, the Guardian have produced a great interactive graph with data on both the claimant count and the LFS dating back to 1971.

Inflation video

Wednesday, October 14, 2009

Yesterdays announcement that inflation as measured by the CPI had fallen to 1.1% in September and the RPI had dropped to -1.4% further fueled concerns that the UK may not come out of the recession by the end of the year.

read more...»

New charge faced by London’s drivers

Monday, October 12, 2009

The new OCR GCSE specification expects pupils to have an understanding of policies the government could use to help reduce externalities. The mayor of London, Boris Johnson has outlined a plan to make drivers pay for using the busiest roads in the capital.

read more...»

UK has worst quality of life in Europe – Economic growth and living standards revision

I am currently teaching economic growth to my year 11’s and have got used to saying an increase in GDP improves the standard of living in a country. At GCSE this statement is usually enough but this article could get your pupils extra marks for evaluating whether this is actually true.

A study has show Britain to have the worst quality of life in Europe despite having an average household income of £35,730 a year, over £10,000 higher than the European average.  This is because British families have to contend with a high cost of living, with fuel, food and alcohol all costing more than the European average. Not only that but we are also working longer hours, having less holiday and dealing with worse weather. Click read more for some GCSE and A level style questions on economic growth and living standards.

read more...»

Another solution to finding a job

Sunday, October 04, 2009

An Italian supermarket has come up with an interesting way to help its unemployed customers. Along with buying your groceries you can enter a lottery, where the prize is a job. This video would make a great starter.

Is Keynes influencing politics today

Saturday, October 03, 2009

Next Saturday I am taking some of my students to see Robert Skidelsky talk about John Maynard Keynes at the Cheltenham Literature festival. No doubt it will be a fascinating talk.
This video shows Peter Clarke and Robert Skidelsky talking about how they believe Keynes economic philosophy is continuing to influence today’s political scene. It could make an interesting starter looking at how Keynes theories is affecting todays politics.

Are we becoming a nation of savers?

Sunday, September 27, 2009

The savings ratio is expected to rise again when figures are released this week. The graph shows the savings ratio fell as borrowing soared, however as the credit crunch began to bite the ratio rose as we started to save more when consumer confidence fell.

image

read more...»

Graduates face a tough job market

Wednesday, September 23, 2009

Is this what the job market has come to?

image
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Q&A on spending cuts

Monday, September 21, 2009

Talk of cutting government spending seems to be almost a daily occurrence in the national newspapers at the moment. This BBC article makes a good read for students to help them find out more on what might be proposed and why it needs to happen.

Does money really make the world go round?

This really links well with Innes’ mnemonic today. Innes looked at why GDP is not the best measure of standard of living. So does rising national wealth really make peoples lives better?

image
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More interactive inflation data

Wednesday, September 16, 2009

image

The Consumer Price Index for August was announced yesterday as 1.6%, the lowest it has been since January 2005.
The RPI gave slightly cheerier news as it rose from -1.4% to -1.3. The Guardian has updated its interactive data on inflation.

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Cut spending or raise taxes?

The government have a lot to think about if they are to prevent what some economists are calling a possible double dip recession. However they must consider the future and the large debts that have already been accumulated. The Labour party see the way forward as maintaining spending and increasing taxes, one idea being the new 50% tax on earnings over £150,000. The Conservatives on the other hand think that the only way ahead is to cut government spending.

image
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Continuing concerns over NEETs

Tuesday, September 15, 2009

16-18 years olds not in education, employment or training, otherwise known as NEETs are continuing to rise in numbers. In Gloucestershire there are now 599 NEETs a rise of 14% on last year. The West Midlands has the largest number of NEETs in the UK.

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Where did all the money go?

Friday, September 11, 2009
image

Another fantastic interactive guide, this time from the BBC. Since the markets began to tumble in 2008, governments around the world have spent almost $11 trillion bailing out failing banks and trying to repair the financial system. This interactive guide shows where the money went and what it means for the tax payer.

Economy set to benefit from England’s World Cup qualification

Few of us could have missed the fact that this week the England football team qualified for next years World Cup in South Africa with a 5-1 win against Croatia. What you may not realise is that this will benefit the UK economy greatly. According to the British Retail Consortium England’s qualification will benefit the UK economy to the tune of £1bn. 

image

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Winners and losers of the car scrappage scheme

Thursday, September 03, 2009

New car registrations were up 2.4% in July this year, showing the scrappage scheme is finally starting show its effects on the car industry. This is the first increase since April 2008.
image

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Cash for gold

Monday, August 31, 2009

If, like me, you found yourself watching far too much daytime TV over the holidays, you may have noticed advert after advert imploring you to send your unwanted gold (even teeth!) to a company in return for cash. Interest in companies like this has soared during the recession as people struggle to cope. H. Samuel has just entered the market, hoping their recognised brand name will entice customers. Can any of your pupils think of other industries which will do well during a recession?

25 per cent unemployment in the Canary Islands

Sunday, July 19, 2009

Spain is an interesting economy for GCSE students to look at. In Spain tourism accounts for 10% of gross national product and one in eight jobs. Construction is also a very important industry. And both sectors are now struggling with the pain of recession.

Many hotels have temporarily closed even during the summer season and the bars, restaurants, hire cars and airports are being affected by the downturn in demand. Economists have a term for this - a negative multiplier effect.

This BBC news video looks at the Canary Islands where one person in four is unemployed (an unemployment rate of 25% is nearly four times the jobless rate we have here in the UK).

Is saving back in fashion?

Thursday, July 09, 2009

How many of us put money into our piggy banks or a bank account, saving for a raining day? Well data released this week suggests that more people are doing this and that the savings ratio is set to rise.

read more...»

Great new resource from the OECD

Friday, July 03, 2009

Trawling through the BBC website on Thursday evening I came across an absolute gem. How often do we want interesting data to use with our classes? Well I think I have found an answer! The new online tool OECD Factbook eXplorer.

read more...»

Mnemonic Monday – Factors that shift demand

Monday, June 29, 2009

One of the most important skills at GCSE Economics is to be able to identify factors which shift the demand and supply curves, especially in the OCR paper where an almost identical 12 mark question appears every year without fail.  Here is a check-list of factors which will shift the demand curve ( and yes… you’ve guessed it - next week there will be a mnemonic on factors leading to a shift in the supply curve)

read more...»

Xbox Project Natal – Competition revision

Wednesday, June 03, 2009

image

The 2009 OCR case study is likely to have a number of questions on competition. I noticed Microsoft’s new fully hands free control system in the news and thought it was a fantastic example of using innovation to compete. Press read more for two BBC videos of the new system and GCSE style questions on competition for revision.

read more...»

Q&A - UK Unemployment

Tuesday, May 26, 2009

How many more will lose their jobs in this recession?  Retiring Monetary Policy Committee member David Blanchflower predicts at least one million more people will lose their jobs before unemployment peaks.

read more...»


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