The BBC have produced another great short video that could be used for revision. Here they look at the effects of a strong pound.
Don’t forget the great mnemonic for remember the effects of a strong pound:read more...»
After a 7 year battle the WTO has now ruled that Boeing received illegal subsidies from the US Governmentread more...»
This is a great short video on the widening gap between UK cities. Lots of key terms for your budding economists to listen to.
For those of us eagerly awaiting the release of the Case Study for OCR GCSE Economics Unit 593, the topic of globalisation provides a nice stepping stone to the more challenging material. Data out this week from the Society of Motor Manufacturers and Traders gives an insight into the motor industry and shows an increase of 5.8% in production by Britain’s car assembly plants.read more...»
According to official figures, house prices declined in all areas of Britain except London, East Midlands and the North East over the last year.
House prices in Britain fell by 0.3 per cent on average in the year to November 2011.
Some really interesting data here on global house prices.
It shows that the UK is ranked 30th in terms of how house prices have changed in quarter 3 of 2011.
Another great set of interactive graphs here. This set allows you to compare all EU countries deficits, GDP, debt and unemployment. Not only is this great for starting up some discussion but also could be used for some delicious data questions.
Here is a great interactive graphic from the BBC to show the best and worst case scenarios for the EU. A good resource to be using at the end of term!
It can be quite hard for students to understand the European debt crisis. This interactive graphic from the Telegraph is great for showing students.
British people rate their life satisfaction as 7.4 out 10 in the new flagship happiness survey. The poll of 4,200 adults was carried out by the Office for National Statistics (ONS).read more...»
Some great interactive data from the BBC on who owes who and how much. A great way to show GCSE (and A Level) students.
So you have booked your holiday, excited about going, you have your spending money all sorted but there is a problem….... how far will it go?
Exchange rates have had a huge impact on peoples spending power when they go abroad on holiday. The weak pound has been welcomed by exporters but holiday makers do not like it. To explain this I am going to use one of my favourite and longest serving mnemonics - WIDEC.
For all students studying international Economics this interactive data from the BBC is fantastic. You can compare GDP and income statistics with life expectancy, education, energy and health for a number of Asian countries.
This is a must for all GCSE students and even students studying standard of living at A Level.
Croatia is going to be the 28th country to enter the European Union. This likely to happen in 2013.
Click here to see a profile of Croatia.
This is particularly useful for those students taking the global ad international paper for GCSE.
Having worked in Blackpool for 4 years this news story made me cheer. Blackpool, having recently invested £350 million into regeneration projects, is set to benefit greatly from the double header of long bank holiday weekends.
Blackpool used to be the place to holiday but unfortunately more recently its popularity has waned with the emergence of cheap holidays abroad.
I have just seen this on the news at 10. It is a fantastic video looking at the change in interest rates in the Eurozone.
It is packed full with some great figures, really useful for the OCR GCSE Economics Global Economy paper and also for those study OCR A Level Economics and doing the pre-released case study.
An annual survey by the Economist Intelligence Unit has put Vancouver as the most liveable city in the world. The survey ranks cities in five areas – stability, health care, culture and environment, education and infrastructure. Each city receives a rating out of 100, with 100 per cent considered to be ideal and 0 per cent intolerable. In second place came Melbourne, Austrialia followed by Vienna, Austria in third place.read more...»
A watershed moment for the world economy?
If you are studying the global economy at the moment the latest information on economy sizes will be both interesting and useful to you. Japan’s economy was worth $5.474 trillion (£3.414 trillion) at the end of 2010, whereas China’s economy was closer to $5.8 trillion in the same period.
Here is a great article with some great data for students to use.read more...»
As part of the GCSE course students look at international economics and globalisation. Here is a great link to up to date information on the Turkish economy.
With just a few days left of term for some, you may be looking for something to keep your students entertained which is to do with Economics. Well the Guardian have been come to the rescue today with the fourth part of their Business Quiz 2010, this part is about all things economics that have happened this year.
The BBC have a great short clip on economic growth in the eurozone. This would make a great lesson looking at the Eurozone, the countries in it and finding data on their main macroeconomic indicators.
If your year 11 students are doing the OCR specification they will be preparing for their paper on international economics. This article is really interesting as it looks at the smaller nations across the world which contribute vital materials and therefore play an important part in the global economy. The article looks at Kazakhstan, Malaysia, Thailand, South Africa, Indonesia, Peru and the Ivory Coast.
The BBC have produced a great short video which will help answer the question why should the UK bail out Ireland.
The BBC have done a great job here and produced a great short video on exchange rates and how they work. There are also short videos on the US and China and their currencies.
This video is a great starter for international trade topics for year 11 students.
There are some great news stories out today for the OCR A593 international paper as we see China leap frog Japan to become the number 2 economy in the world. How long will it take China to get ahead of the USA who occupy the top spot? China is already the biggest exporter, auto buyer and steel producer. China’s GDP for the second quarter of 2010 stood at $1.337 trillion, more than Japan’s $1.288 trillion.
Japan has held the second spot in the world standings since 1968.
This a great teaching resource from the BBC, a global recession timeline. it contains some short video clips and data. A great start to a lesson next term.
This is a great little video on Indian inflation causing interest rates to rise. A great end of term starter which can get pupils starting to think about Economics in the international context.
The pound against the euro has strengthen in recent months meaning must needed relief for British holidaymakers going to Europe.
As you can see from the graph the value of the pound has risen from £1=1.125 Euros at the beginning of April 2010 to £1=1.24 Euros at the end of July 2010.
As a Nottingham Forest supporter it pains me to write this, however I am not one to miss out on a good blog item. Having worked in Blackpool for 4 years I know how much it has been hampered by its image. However could the play off final have put Blackpool back on the map and brought in much needed revenue for the football club and the town.
This is a great video from the BBC which discusses the UK trade deficit widening. Great revision or starter for balance of payments and exchange rates.
This is a great video from the BBC explaining why the value of the pound has weakened further this week. It is full of economic concepts making it an excellent revision tool too.
The latest in a series of trade disputes between China and the US is over the sale of chickens by the US to China at what the Chinese say is unfairly low prices. The tariffs (a tax on imports) will commence on 13th February. This will make the price of US chicken more expensive in China and therefore less competitive.read more...»
This BBC video is a greater starter. Greece face a massive budget deficit and are now looking to the EU for help with how they deal with it. One of the major issues is that Greece’s problems could spill over and have damaging consequences to other EU countries.
This could start a really good discussion on living standards. The 2009 Quality of Life Index published by International Living Magazine reveals that Britain have fallen to 25th place in the table. France top the table for the fifth year running.read more...»
The BBC have created a great short video showing how to use the OECD website. This will be particularly good for the OCR module on global issues.
This is often a topic that GCSE Economists struggle with. An interesting article on the BBC explains how the UK trade deficit has worsened due to the car scrappage scheme.
As some of you may be discovering it isn’t a great time for UK holiday makers to go on holiday in the USA or Europe. As the value of the pound against both the dollar and the euro has weakened it has meant that it is more expensive to buy goods abroad (remember as a tourist going abroad we are an import because the money goes out of the UK and into the foreign country). Could this weak pound be good for the UK economy as a whole?read more...»
A big element of the new OCR specification is the international economics area. This BBC article looks at each of the G20 countries and discusses what they have been doing to deal with the economics crisis and prevent it happening in the future.
Here is a great interactive world map by the BBC which aims to investigate the impact of the global recession. Being the BBC, it has load of videos and looks like it will continue to be added to over the next few weeks.
An exciting new part of the OCR specification is the introduction of the international area of economics. The World Trade Organisation (WTO) appears in the specification for the first time. Originally formed in 1995 the WTO was designed to liberalise world trade. The World Trade Organisation deals with regulation of trade between participating countries; it provides a framework for negotiating and formalising trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements.
Our summer holidays are probably starting to feel like a distant memory now. Many Brits opted to stay in the UK this year due to the recession. This has affected many holiday destinations abroad, such as Greece.read more...»
As most of us are now enjoying the summer break and therefore not in front of a class, I thought I would turn the attention to preparing for the new GCSE’s which start in September. Over the holidays we will look at some of the new topics and also some of the old ones.
Today is the turn of the OCR GCSE in Economics.
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).
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.