Mnemonic Monday - Exchange rates
Monday, August 31, 2009
Print
Email
Tweet This!Save to Favorites
Recommend on Google+
Here we go again, its almost the start of the term, you have probably spent all of your holiday money and are raring to start studying again! And so we start back with our first mnemonic of the academic year. This week we are going to look at how a strong pound will affect the competitiveness of exports and imports.
This mnemonic is one that I use a lot when teaching exchange rates. There are two ways you can do this:
Strong
Imports
Cheap
Exports
Dear
or
Strong
Pound
Imports
Cheap
Exports
Dear
I much prefer SICED and use WIDEC alongside it. However Innes much prefers SPICED.
Weak
Imports
Dear
Exports
Cheap
blog comments powered by Disqus
Another great video for revision - exchange rates [12 May 2012]
Introduction to globalisation via the UK car market [20 Jan 2012]
Videos of the week! - Teddy Bears and Specialisation [22 Feb 2011]
Interest Rates and Exchange Rates - video [7 Jan 2010]
UK trade deficit worsens - Q&A [10 Nov 2009]
The US criticises the weakened Yuan – Protectionist policies [18 Oct 2009]
Is a weak pound good? [18 Oct 2009]
New GCSEs - international trade [15 Aug 2009]
Tags
activity, advertising, affordability, alistair darling, anti-competitive behaviour, anti-dumping, apple, appreciation, aqa gcse economics, articles, asia, balance of payments, balance of trade, bank of england, banks, basic economic problem, basket of goods, beat the teacher, benefits, bidet, birthrate, borrowing, budget, budget deficit, budget surplus, business growth, business objectives, capacity, capital, car industry, car manufacturing, cash cow, china, chocolate, christmas trees, class task, cocoa, competition, competition commission, competition in action, competitive markets, complements, conditions of supply, confidence, congestion, conspicuous consumption, construction, consumer confidence, consumer spending, consumers, cost of living, costs, costs of production, costs, revenues and profits, cpi, credit crunch, cross price elasticity of demand, currency, data, data response, debt, deficit, delicious data, demand, demand and supply, demand and supply in action, demand for labour, demerit good, demerit goods, depreciation, derived demand, diagram, diagrams, diseconomies of scale, dollar, double dip, double-dip, downturn, easyjet, economic growth, economic gw, economic policies, economics, economies of scale, economy, elasticity, elasticity of supply, employment, end of term activity, enterprise, eu, euro, eurozone, exam advice, exam help, exam practice, exam style questions, exam technique, excess demand, exchange rate,All tags for the GCSE Economics Blog
