http://www.tutor2u.net/blog/index.php/gcse-economics/ en tutor2u.net Copyright 2010 2010-03-16T09:27:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-on-the-rise-again-video/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-on-the-rise-again-video/#When:09:27:00Z This is a great short video which could act as a starter. Students could be asked to draw demand and supply diagrams to show the increase in tax on petrol from the 1st April. Students could also look at the elasticity of demand for petrol and how that affects the equilibrium quantity. MICROECONOMICS TOPICS, Competitive markets 2010-03-16T09:27:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/basket-of-goods-lip-gloss-in-disposable-cameras-out/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/basket-of-goods-lip-gloss-in-disposable-cameras-out/#When:12:53:00Z Here is a very useful article for a lesson on how inflation is measured. It explains how the ‘basket of goods’ used to measure inflation is updated to account for changes in shopping habits and new technology. For a starter to a lesson, pupils could guess the products that have been added or removed from the basket. In pictures: what’s in and what’s out 2010-03-15T12:53:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-worlds-wealthiest-people/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-worlds-wealthiest-people/#When:07:36:00Z Here is a fun starter for a Friday lesson. Forbes list of the world’s wealthiest people has just come out. How many do your class recognise? 2010-03-12T07:36:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/have-a-breakhave-a-soy-sauce-kit-kat/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/have-a-breakhave-a-soy-sauce-kit-kat/#When:13:59:01Z Examples of how firms compete don’t get much better than this. Apparently for the last three years Nestle have been making 19 different flavours of Kit Kat including a delightful vegetable Kit Kat and a soy sauce version. Sadly they are only sold in Japan but they have proved extremely popular. This is great starter for any lesson; pupils could try to think of any other products that have been adapted to suit local tastes. Click here for an article explaining the success of the chocolate bars and here for pictures of all of the different flavours. 2010-03-10T13:59:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/soda-tax/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/soda-tax/#When:13:24:00Z Fizzy drinks are considered a key source of excess calories in the American diet, where fast food chains sell cups that hold nearly two litres of soda, fuelling an obesity epidemic. The New York governor is pushing for a tax on these drinks but will this reduce consumption? This is a great article for a lesson on elasticity of demand, taxes and negative externalities. Click read more for some GCSE style questions to go with the story. 2010-03-10T13:24:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/uk-trade-deficit-widens-video/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/uk-trade-deficit-widens-video/#When:10:30:00Z 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. OTHER TOPICS, International trade & protectionism 2010-03-10T10:30:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/50-of-towns-have-5-supermarkets-on-their-doorsteps-competition-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/50-of-towns-have-5-supermarkets-on-their-doorsteps-competition-in-action/#When:11:24:01Z This headline really struck me today and is great to use with GCSE students when discussing competition. The data below would be great for a data reponse: MICROECONOMICS TOPICS, Competitive markets 2010-03-09T11:24:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/where-are-all-the-daffodils-supply-and-demand-revision/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/where-are-all-the-daffodils-supply-and-demand-revision/#When:08:18:00Z This is a fantastic article to use for a lesson on supply and demand. A cold winter, delaying the daffodil season by up to four weeks, coupled with high demand for Mother’s Day should lead to high prices. Students could try to explain this situation using supply and demand diagrams. 2010-03-08T08:18:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/1-roast-dinner-inferior-goods/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/1-roast-dinner-inferior-goods/#When:22:04:01Z The recession has brought us an increase in the number of inferior goods (goods that as incomes fall demand rises) on offer. Lidl have done really well through the recession. They have now come up with the £1 roast dinner: MICROECONOMICS TOPICS, Competitive markets 2010-03-07T22:04:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/calls-for-a-rise-in-tax-on-tobacco-demand-and-supply-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/calls-for-a-rise-in-tax-on-tobacco-demand-and-supply-in-action/#When:21:39:00Z A great article today from Sky about suggestions that tax on tobacco should be increased by 5%. This could be used for revision of demand and supply ahead of the summer exams. MICROECONOMICS TOPICS, Competitive markets 2010-03-07T21:39:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/100-for-a-house-im-moving-to-detroit/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/100-for-a-house-im-moving-to-detroit/#When:07:46:00Z After living in London for a number of years, I have become desensitised to ridiculously high house prices. Just last week when a friend of mine bought a one bedroom maisonette in a dodgy part of the city for a quarter of a million pounds, we all congratulated him on getting such a great deal. Little did we know that for just $100 you can get a whole house in Detroit. This may be an extreme example but with property prices dropping by 80% to an average of just £4,900, it is clear that something is very wrong in the city. This article is fantastic and could be used on a lesson supply and demand to show how a change in people’s income can affect demand for houses.  I hope to use it as a starter today to show the negative effects of unemployment. 2010-03-04T07:46:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/prices-still-rising/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/prices-still-rising/#When:13:33:00Z 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?  MACROECONOMICS TOPICS, Price stability and inflation 2010-03-03T13:33:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-pound-weakens-video/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-pound-weakens-video/#When:13:27:00Z 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. OTHER TOPICS, Exchange rates and currencies 2010-03-03T13:27:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-short-macro-video/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-short-macro-video/#When:11:27:01Z 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. MACROECONOMICS TOPICS 2010-03-01T11:27:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-hottest-ticket-in-canadian-sport-supply-and-demand/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-hottest-ticket-in-canadian-sport-supply-and-demand/#When:22:28:00Z The Olympic ice hockey final between the USA and Canada is the equivalent of England versus Germany in the football World Cup final. As you would expect tickets are like gold dust with prices rising to ridiculous levels on websites. So the question for economists is why prices become so excessive. The main reason is supply is perfectly inelastic as the stadium has a capacity of only 18,000. This means the increase in demand caused by a USA/Canada final led to a big increase in price. Students could represent this situation using a supply and demand diagram. 2010-02-28T22:28:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/disappointing-ticket-sales-for-the-world-cup-complements/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/disappointing-ticket-sales-for-the-world-cup-complements/#When:21:41:01Z Sales of tickets for the World Cup in South Africa have been disappointing due to the opportunistic pricing of travel companies. Prices for airfares are at their peak as companies try to cash in on the occasion. As match tickets and air travel are close complements, the high prices have heavily affected demand for the games. This is a great example of how a high price of a complementary good affects demand for a product. Pupils could be asked to explain this situation using a supply and demand diagram. 2010-02-28T21:41:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/portsmouth-in-crisis-q-a-starter/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/portsmouth-in-crisis-q-a-starter/#When:20:52:00Z I’m sure many of your students have been interested in the plight of Portsmouth Football Club this week. This Q & A from the BBC explains what going into administration means. It provides a perfect starter for any business or economics lesson but especially one on costs and revenue.  2010-02-28T20:52:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/skilled-labour-shortage-in-the-farming-sector/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/skilled-labour-shortage-in-the-farming-sector/#When:18:29:00Z A really interesting article and video on Sky News about the impending skilled labour shortage in the farming sector. MICROECONOMICS TOPICS, Rewards for labour 2010-02-28T18:29:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-interactive-data-from-the-ft/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-interactive-data-from-the-ft/#When:18:17:00Z 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. MACROECONOMICS TOPICS 2010-02-28T18:17:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-demise-of-hummer-demand-and-supply-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-demise-of-hummer-demand-and-supply-in-action/#When:22:04:00Z General Motors announced today that Hummer (see picture below) would be no more. There are several factors that have caused demand for Hummer to fall and therefore the demand curve to shift to the left. MICROECONOMICS TOPICS, Competitive markets 2010-02-25T22:04:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-demand-for-gold-in-china/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-demand-for-gold-in-china/#When:08:25:00Z Last year China surpassed India as the top gold consumer in the world. With the price of gold at a three month low you would assume demand for gold would be going up, however according to traditional Chinese beliefs, 2010 is in a cycle of inauspicious years for marriage. Many couples are postponing their wedding plans as they believe that if a couple marry in specific years of that cycle, the husband or wife may die at a young age. This in turn reduces demand for gold as less jewellery would be bought before wedlock. On the other hand, the year of the tiger is about to start in the traditional Chinese calendar, which has caused gold accessories featuring the big cat to become the most popular item on sale in the largest jewellery retailer in Beijing. I think this article provides interesting and unusual examples of how price is not the only factor that influences demand. Students could draw supply and demand diagrams to help explain both situations. 2010-02-24T08:25:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/play-your-cards-right-unemployment-game/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/play-your-cards-right-unemployment-game/#When:20:48:00Z Introducing a new and exciting game to the GCSE blog. Play your cards right simply asks students to guess whether the answer on the next card will be higher or lower. This week the game features unemployment rates across the world. For more able students, add bonus marks for correctly identifying the unemployment rate of the country. Click read more for the game 2010-02-22T20:48:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/champagne-exports-drop-yed-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/champagne-exports-drop-yed-in-action/#When:20:02:00Z Exported French champagne dropped by 28% in 2009. Global sales of French brandy Cognac also declined by 15.6%. France is the worlds biggest exporter of wines and spirits. So why has there been such a large drop in these exports? MICROECONOMICS TOPICS, Competitive markets 2010-02-20T20:02:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-whats-hot-and-whats-not-in-the-recession/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-whats-hot-and-whats-not-in-the-recession/#When:09:17:00Z This weeks fun fact Friday looks at the items in our shopping basket that are up and down in the recession. MACROECONOMICS TOPICS, Economic growth 2010-02-19T09:17:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/ben-and-jerry-ice-cream-to-go-completely-fair-trade-competition-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/ben-and-jerry-ice-cream-to-go-completely-fair-trade-competition-in-action/#When:10:45:00Z Another great BBC video today. Ben and Jerry’s ice cream is going to go completely fair trade. Is this a good way of competing or are they just interested in doing good? You decide. MICROECONOMICS TOPICS, Competitive markets 2010-02-18T10:45:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/valentines-woe-for-kenyan-flower-growers/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/valentines-woe-for-kenyan-flower-growers/#When:16:21:00Z How many of us were treated to a rose or two this Valentines day? No doubt the demand for roses increased significantly up to Valentines day. However there has not been that high demand for flowers this year, causing real problems for the Kenyan flower growing industry. MICROECONOMICS TOPICS, Competitive markets 2010-02-15T16:21:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/international-economics-in-videos/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/international-economics-in-videos/#When:09:11:00Z Two great videos to keep you up to date over half term. Will Chinese New Year hail growth and Euro slump OTHER TOPICS, Globalisation 2010-02-14T09:11:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/can-the-robin-hood-tax-raise-700-billion-bill-nighy-thinks-so/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/can-the-robin-hood-tax-raise-700-billion-bill-nighy-thinks-so/#When:14:17:00Z The Tobin tax or newly named Robin Hood tax looks like the best idea in the world. Tax those greedy bankers 0.05% on each bank trade ranging from shares to foreign exchange and derivatives and create a cash pile to be spent on measures to combat domestic and international poverty as well as fight climate change. A slick advertising campaign involving one of the UK’s top actors is likely to convince a lot of people, but is it possible? This feature from the Guardian is brilliant at explaining the pros and cons and includes the advert made to support the tax.  As it’s almost half term, you could even let your pupils print out and wear the Robin Hood mask which they can download off the offical Robin Hood Tax website! 2010-02-11T14:17:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/true-or-false-an-increase-in-taxes-leads-to-more-government-revenue/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/true-or-false-an-increase-in-taxes-leads-to-more-government-revenue/#When:13:58:00Z With UK debt mounting, it must be very tempting for the government to increase taxes to provide more revenue. These two articles however show that if taxes become too high, companies and individuals may jump ship and move abroad. Diageo and Unilever have both stated that the 50% income tax and the rise in VAT have made the UK a less attractive place to be based. Can your students think of any better ways of increasing taxes without causing a ‘brain drain’? 2010-02-11T13:58:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-for-diamonds/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-for-diamonds/#When:09:50:01Z It’s been a tough year for De Beers, the world’s largest diamond producer, as sales have sunk by 44%. This is a great example for a lesson on supply and demand. Click read more for some GCSE style questions to go with this article. 2010-02-11T09:50:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-china-and-us-chicken-dispute/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-china-and-us-chicken-dispute/#When:07:12:00Z 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. OTHER TOPICS, International trade & protectionism 2010-02-10T07:12:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-loyalty-card-competition-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-loyalty-card-competition-in-action/#When:09:51:00Z 15 years ago Tesco launched the Clubcard. As a reward for shopping in stores customers build up rewards which are exchanged for discount vouchers. This is a great way for supermarkets to compete with each other, in fact a year after its introduction Clubcard holders were spending 28% more at Tesco and 16% less at Sainsbury’s. Unsurprisingly Sainsbury’s responded with the Nectar card. Approximately 85% of households in the UK have at least one loyalty card. MICROECONOMICS TOPICS, Competitive markets 2010-02-09T09:51:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/food-prices-on-the-rise-again/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/food-prices-on-the-rise-again/#When:10:07:00Z 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. MACROECONOMICS TOPICS, Government income and expenditure 2010-02-08T10:07:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-much-labour-markets-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-much-labour-markets-in-action/#When:21:42:00Z It was reported last week that Emma Watson was the highest earning woman in Hollywood in 2009 with £20 million. What means that Emma Watson can earn so much money? MICROECONOMICS TOPICS, Rewards for labour 2010-02-07T21:42:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/is-avatar-really-number-one/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/is-avatar-really-number-one/#When:21:16:00Z Avatar has enjoyed the title of most successful film ever, but is this really the case? Its $1.85 billion takings surpass all other films but in REAL terms it is only 26th in the all time list with Gone with the Wind taking the top spot. This interactive list could be really useful to explain the difference between nominal and real values. 2010-02-07T21:16:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-bowl-adverts-top-3-million-how-firms-compete/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-bowl-adverts-top-3-million-how-firms-compete/#When:20:39:00Z You may not know but on Sunday night one of the biggest sporting events of the year will take place. Most of us will have long since gone to bed but in America the final is prime time viewing. So much so that companies are prepared to pay over $3 million for just a thirty second slot. This is a great example of firms competing using advertising. Click here for a link to the greatest ever Super Bowl adverts. My personal favorite is the Terry Tate office linebacker advert by Reebok. 2010-02-07T20:39:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/99p-pint-is-this-right/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/99p-pint-is-this-right/#When:19:37:00Z JD Weatherspoon’s are under fire for introducing a two week promotion that puts the price of pint of Greene King Ruddles, a Gordon’s gin and mixer, a glass of wine or a bottle of Carlsberg Export lager at just 99p. As a demerit good alcohol has negative externalities and if left to the free market would be over consumed. Concerns are that a promotion like this would encourage binge drinking. MICROECONOMICS TOPICS, Competitive markets 2010-02-07T19:37:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-national-debt-in-3-minutes/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-national-debt-in-3-minutes/#When:20:24:00Z This is a great 3 minute video on the UK’s national debt. It would make a great starter for talking about fiscal policy. MACROECONOMICS TOPICS, Government income and expenditure 2010-02-04T20:24:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-greece/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-greece/#When:10:14:01Z 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. OTHER TOPICS, European Union & Economy 2010-02-03T10:14:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-fat-tax/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-fat-tax/#When:11:16:01Z Innes talked last week about a fat tax. The key issue is how fair would this type of tax be. This weeks fun fact looks at the percentage of households that buy too much saturated fat (by income).  MICROECONOMICS TOPICS, Competitive markets 2010-01-29T11:16:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/3d-tv-how-firms-compete/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/3d-tv-how-firms-compete/#When:08:02:01Z The race is on for the first sports event to be broadcast live in 3D. Sky looks like they have stolen the march on the BBC by announcing Sunday’s game between Man United and Arsenal will be shown in 3D in 12 pubs across the country. This is just a taste of things to come with Sky launching a dedicated 3D channel in April.  Only time will tell if 3D TV turns out to be a flash in the pan gimmick but it is still a great example of a company using innovation to stay ahead of rivals. Click read more for some GCSE style questions to go with this article 2010-01-28T08:02:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-government-failure-in-germany/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-government-failure-in-germany/#When:20:36:00Z A favourite GCSE question on tax is… ‘one reason for the relatively high price of tobacco in the UK is a high level of taxation. Do you agree that tobacco should be highly taxed?’ A good answer will recognise the positives of taxing tobacco such as reducing consumption of a demerit good and increasing revenue for the government. It would also look at the negatives such as equity issues. This article from Germany adds to the argument against highly taxing tobacco. In Germany, 20% of all cigarettes are illegally brought in from foreign countries as smokers try to avoid the increasing tax. By putting up the tax the government have only succeeded in increasing the number of illegal cigarettes (26 million) consumed and has actually lost revenue. This article could be used to help answer this question or for any lesson on market or government failure. 2010-01-27T20:36:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-ipad-how-firms-compete/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-ipad-how-firms-compete/#When:19:57:01Z Once again I have been swept up in the hype for an Apple product that I feel I must have despite having no real need for. This time the culprit is the new iPad which promises unrivalled web browsing. This video would be a perfect starter for a lesson on how firms compete. Second Video 2010-01-27T19:57:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-uk-pay-gap-quiz/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-uk-pay-gap-quiz/#When:14:55:00Z 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. MACROECONOMICS TOPICS, Incomes & poverty 2010-01-27T14:55:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cash-strapped-romania-to-introduce-fat-tax/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cash-strapped-romania-to-introduce-fat-tax/#When:09:58:00Z Romania hopes to battle their increasing problems with obesity by introducing a ‘fat tax’ on all fatty, salty and sugary goods. But are they really worried about an unhealthy population or is the tax just another way of reducing the Romanians budget deficit? As it is expected to rake in £680 million, it looks like the government is trying to take advantage of demand being price inelastic for fatty goods. This is a fantastic example for a lesson on negative externalities, fiscal policy or price elasticity of demand. Click read more for some GCSE style questions to go with the article. 2010-01-23T09:58:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-wealth/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-wealth/#When:07:49:01Z This term we are going to put a fun economics fact up each Friday. Hopefully they will be useful perhaps to start a discussion or set off a piece of work or help with revision. This weeks fun fact covers wealth. 2010-01-22T07:49:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cadbury-takeover-market-structure-in-action/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cadbury-takeover-market-structure-in-action/#When:09:55:00Z Now that the takeover of Cadbury by Kraft has been agreed we are left with 4 dominant firms in the chocolate market in the UK; Mars, Ferrero, Nestle and Cadbury/Kraft. This graphic from the Guardian is great for showing how big each firm is in the market. It will be interesting to see if this merger will create greater economies of scale for the Kraft/Cadbury firm which will mean possibly in the long run a greater number of products due to research and development increasing. MICROECONOMICS TOPICS, Competitive markets 2010-01-21T09:55:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/unemployment/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/unemployment/#When:08:49:00Z 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. MACROECONOMICS TOPICS, Employment & unemployment 2010-01-21T08:49:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-supply-and-demand-in-china/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-world-on-wednesday-supply-and-demand-in-china/#When:08:04:00Z In a new feature for the GCSE blog, I thought it would be interesting to look at economic stories from around the world which could ordinarily be missed. The first one comes from China where Garlic is surpassing gold as the country’s best performing asset. This article is full of great examples which could be used in a demand and supply lesson. Students could be asked to read the article and search for factors that have caused the price of garlic to shoot up. More able students could then illustrate the effects using supply and demand diagrams. 2010-01-21T08:04:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-human-bed-warmers/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-human-bed-warmers/#When:12:55:01Z I just had to write about this when I read this. How often do you get into bed and it is really cold? Well if you are staying at a Holiday Inn this feeling could be a thing of the past. Don’t worry you will not be having to share your bed with anyone. The walking electric blankets are dressed in special all-in-one sleeper suits and are sent to warm the Holiday Inn beds before guests get under the covers. MICROECONOMICS TOPICS, Competitive markets 2010-01-18T12:55:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/on-this-day-10-years-ago/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/on-this-day-10-years-ago/#When:12:32:01Z Glaxo Wellcome and SmithKline Beecham merged to become Glaxo SmithKline. The £107bn merger of two British pharmaceutical firms aimed to become the largest pharmaceutical firm globally. It is in fact now the second largest pharmaceutical firm in the world. The companies products include: Aquafresh, Tums and Lucozade. MICROECONOMICS TOPICS, Competitive markets 2010-01-18T12:32:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/labour-markets-in-action-spanish-air-traffic-controllers/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/labour-markets-in-action-spanish-air-traffic-controllers/#When:09:24:00Z The job of air traffic controller is difficult and stressful, requiring super concentration. In order to become an air traffic controller you must pass a series of tough exams, psychological and medical tests and under go at least a years training. It is no wonder from this information that air traffic controllers are paid very highly. MICROECONOMICS TOPICS, Rewards for labour 2010-01-18T09:24:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-economics-in-the-news-17-01-10/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-economics-in-the-news-17-01-10/#When:08:36:00Z This week’s economics in the news covers supply and demand, market failure and competition. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it. 2010-01-18T08:36:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ray-ban/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ray-ban/#When:13:20:00Z This caught my eye this morning. Firms are trying all the time to find new ways to compete with each to get more customers and ultimately more profit. Ray ban (the sunglasses company) have set up a production company called ‘Never Hide Films’ complete with its own youtube channel. By tapping into a growing trend of consumers watching youtube videos Ray ban have managed to get a lot of people talking about their product.  MICROECONOMICS TOPICS, Competitive markets 2010-01-16T13:20:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/when-i-grow-up-i-want-to-be-a-space-tour-guide-jobs-of-the-future/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/when-i-grow-up-i-want-to-be-a-space-tour-guide-jobs-of-the-future/#When:14:17:00Z This is a nice starter for any lesson but especially one on unemployment. A government think-tank called Fast Future has predicted 20 jobs we could be doing in the next 20 years. Click here for the PDF file. 2010-01-14T14:17:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/featureless-phone-is-tesco-bestseller-how-firms-compete/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/featureless-phone-is-tesco-bestseller-how-firms-compete/#When:12:52:00Z I was surprised to see that Tesco’s best selling phone over Christmas was not a Smart phone with features like, GPS, internet and a touch screen but a £19 phone which can only really be used to make calls. In a market where firms traditionally compete through innovation, the VX1i Party Phone has found a niche by competing almost purely through price. This is a great example of how firms can be successful by finding different ways to beat the competition. 2010-01-13T12:52:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/growth-of-firms-poundland/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/growth-of-firms-poundland/#When:07:42:01Z How many of us bought something in Poundland over the Christmas period? I, like many others did. The chain saw sales surge by 34.8% in the five weeks to January 3, with revenues from stores open at least a year up 4.4%. The chain have opened 46 new stores in the UK since April 2009. They plan to open another 50 in the next year adding to the current 254 shops they currently own. MICROECONOMICS TOPICS, Growth of firms 2010-01-12T07:42:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/shopping-bills-on-the-rise-as-crops-freeze-supply-and-demand/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/shopping-bills-on-the-rise-as-crops-freeze-supply-and-demand/#When:13:30:00Z As pupils return to schools and panic over salt reserves starts to ease, you would be forgiven for thinking the negative effects of the big freeze are coming to an end. This many not be the case however as some farmers have been unable to harvest their crops. In addition many milk producers have had to throw away their stock as delivery tankers have been unable to get through. This of course should push the prices of these goods up as supply decreases.  Click read more for a GCSE style question to go with the article. 2010-01-11T13:30:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/grecce-raises-taxes-on-alcohol-and-tobacco-elasticity-of-demand-revision/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/grecce-raises-taxes-on-alcohol-and-tobacco-elasticity-of-demand-revision/#When:10:43:00Z The Greek government have decided to increase taxes on alcohol and tobacco to try and reduce their crippling budget deficit. This is a great example of taxing goods for which demand is price inelastic to increase government revenue.  Click read more for some GCSE style questions to go with the article. 2010-01-11T10:43:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/have-you-noticed-the-rise-in-vat1/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/have-you-noticed-the-rise-in-vat1/#When:19:08:00Z 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? MACROECONOMICS TOPICS, Government income and expenditure 2010-01-08T19:08:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/on-this-day-15-years-ago-plan-to-tax-credit-cards/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/on-this-day-15-years-ago-plan-to-tax-credit-cards/#When:11:14:00Z At some point in the near future, taxes are going to have to be increased to improve the UK’s huge budget deficit.  The main political parties are busy thinking up the most palatable solutions, looking for taxes which will increase revenue rather than ones which could inhibit growth. Here is a blast from the past which they should take heed of. Back in 1995 there was uproar as the treasury considered putting a tax on credit cards. The same tactic was actually used by the Carter administration in the US in 1979 causing consumer spending to grind to a halt. This article would be a fantastic starter to a lesson on the pros and cons of direct and indirect taxes. Click read more for some GCSE style questions and a group discussion to go with the article. 2010-01-07T11:14:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/winners-and-losers-of-the-big-freeze/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/winners-and-losers-of-the-big-freeze/#When:10:01:00Z 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.  MACROECONOMICS TOPICS, Economic growth 2010-01-07T10:01:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/interest-rates-and-exchange-rates-video/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/interest-rates-and-exchange-rates-video/#When:09:42:00Z 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. MACROECONOMICS TOPICS, Monetary policy 2010-01-07T09:42:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/britain-falls-to-25th-best-place-to-live-in-the-world/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/britain-falls-to-25th-best-place-to-live-in-the-world/#When:15:47:00Z 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. OTHER TOPICS, Globalisation 2010-01-06T15:47:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-economics-in-the-news-05-01-10/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-economics-in-the-news-05-01-10/#When:14:58:00Z This week’s economics in the news covers supply and demand, competition and international debt. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it. 2010-01-05T14:58:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/weather-sparks-panic-buying-supply-and-demand-revision/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/weather-sparks-panic-buying-supply-and-demand-revision/#When:13:36:00Z A good starter for the new term would be to ask pupils to guess five products which they think were in greatest demand over the coldest winter in 15 years. This article will provide the answers. 2010-01-05T13:36:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/christmas-winners-and-losers/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/christmas-winners-and-losers/#When:12:49:00Z This interactive guide from the Guardian shows the winners and losers on the high street over the Christmas period. This would be a great starter for a lesson on how firms compete. Pupils could guess which companies were successful and try to explain why. More is being added to this interactive guide every day, for a complete guide click on this link for Christmas 2008 winners and losers. 2010-01-05T12:49:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-year-that-was-great-starter-for-first-lesson-back/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-year-that-was-great-starter-for-first-lesson-back/#When:19:28:00Z As we all return to our classrooms this week, a good starter would be this great global financial quiz on the BBC. RESOURCE SERIES, Super Starter Sunday 2010-01-04T19:28:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-sunday-beat-the-teacher-macroeconomic-objecitives/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-sunday-beat-the-teacher-macroeconomic-objecitives/#When:21:21:00Z It is a new year and Beat the Teacher is back! This weeks beat the teacher covers the macroeconomic objectives. Try to find the five mistakes. BeattheTeacher-macroeconomicobjectives.docx RESOURCE SERIES, Super Starter Sunday 2010-01-03T21:21:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/camel-milk-anyone/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/camel-milk-anyone/#When:09:30:00Z Most of us will be putting cows milk on our breakfast cereal in the morning, some may use goats milk or soya milk. This year you will be able to buy camel milk from Dubai. Camelicious, may be heading to a supermarket near you in 2010! MICROECONOMICS TOPICS, Competitive markets 2010-01-02T09:30:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-business-quiz/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-business-quiz/#When:10:04:00Z As we near the end of term I am sure we are all looking for something to do our classes. The Guardian has produced a great business quiz of 2009 in two parts - part 1 and part 2. Enjoy 2009-12-16T10:04:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-monetary-policy-balloon/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-monetary-policy-balloon/#When:17:01:00Z The Bank of England has a new game on their website which allows you to control inflation using interest rates. It’s pretty simple but it would be a great way of introducing the concepts of inflation and interest rates to a GCSE class. 2009-12-13T17:01:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/who-is-the-cheapest-for-christmas-price-competition/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/who-is-the-cheapest-for-christmas-price-competition/#When:16:46:00Z There is no better example of price competition than the supermarkets attempts to be the cheapest for Christmas. Click here to find out who won 2009-12-13T16:46:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/surge-in-demand-for-home-grown-christmas-trees/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/surge-in-demand-for-home-grown-christmas-trees/#When:09:03:00Z Who would have thought that a weak pound would increase the demand for British Christmas trees. Most Christmas trees make their way from Denmark to the UK for Christmas, however, this year as the pound has weakened it has meant that the imported Christmas trees are 30% more expensive. MICROECONOMICS TOPICS, Competitive markets 2009-12-11T09:03:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/pbr-qa/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/pbr-qa/#When:20:10:00Z 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. MACROECONOMICS TOPICS, Government income and expenditure 2009-12-10T20:10:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/darlings-deficit-mountain/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/darlings-deficit-mountain/#When:09:07:00Z Here is a good interactive guide from the Guardian website which shows how the UK’s annual deficit has shot up and how Alistair Darling’s plans could bring it down. 2009-12-10T09:07:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/alistair-darlings-debt-dilemma-interactive-guide/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/alistair-darlings-debt-dilemma-interactive-guide/#When:09:03:00Z Here is an absolutely brilliant interactive guide from the BBC which outlines the possible solutions to the UK’s huge debt problems. This is a must for a lesson on the budget. 2009-12-09T09:03:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-amazon-keeps-diseconomies-of-scale-at-bay/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-amazon-keeps-diseconomies-of-scale-at-bay/#When:13:35:00Z If you look at the pictures below, it’s hard to see how anyone can keep track of this Amazon ‘fulfilment centre.’ It is the size of eight football pitches with 1000 staff. As soon as I saw this photo I thought this would be a great diseconomies of scale example, along the lines of Heathrow Terminal 5. Impressively however, despite goods being placed in no particular order, their location governed only by their size and the spare shelving available at the second they arrived, Amazon are able to boast a near perfect fulfillment record. This is done by fully embracing technology, with a ‘gun’ (which acts a bit like sat nav) calculating the quickest route between products and almost all processes being automated. Humans are just required to pick up and sometimes gift-wrap the products. Today Amazon is likely to be tested as online shopping reaches its peak on the first Monday of December. Last year, ‘Mega Monday’ at Amazon saw a best-ever 1.4million British orders in 24 hours and the computer has calculated that 2009 will beat that record by up to a third. Click read more for some GCSE style questions or here for more photos and an article from the Daily Mail 2009-12-07T13:35:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-sunday-economics-in-the-news-06-12-09/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-sunday-economics-in-the-news-06-12-09/#When:15:44:00Z This week’s economics in the news covers supply and demand, market failure and unemployment. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it. 2009-12-06T15:44:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cocaine-is-in-heroin-is-out-how-fashion-affects-supply-and-demand/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cocaine-is-in-heroin-is-out-how-fashion-affects-supply-and-demand/#When:13:23:00Z Once the drug of choice in the 1990’s, heroin has fallen out of favour among young people which is fantastic news as it causes more negative externalities (such as crime) than any other drug. Sadly however numbers of young adults entering NHS-funded treatment for cocaine addiction are growing rapidly. Alan Booth from drugs charity Addiction believes this shift is mainly down to changing fashions. This article is an interesting example of how changes in taste and fashion can have a huge impact of demand for a product. Pupils could draw a demand and supply diagram to show how changing tastes have affected the price and sales of cocaine. It could also be used for a lesson on negative externalities. 2009-12-03T13:23:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/job-centre-to-modernise-frictional-unemployment/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/job-centre-to-modernise-frictional-unemployment/#When:09:51:00Z Job centres are set to be modernised by using text messages and the internet to communicate with people who have lost their job during the recession. This strategy aims to reduce frictional unemployment by matching available jobs with people who were unaware of them. This video from the BBC shows that the job centre is struggling to find jobs for professionals, offering low paid jobs that many feel they are over qualified for. This can be described as voluntary unemployment as there are jobs available but people are unwilling to take them. This blog provides the beginning to an interesting debate on the best way of reducing current levels of unemployment. Will the improved technology used by the Job Centre help people find the right job or are there simply not the jobs available for professionals who are looking to maintain the higher salaries that they have become accustomed to? 2009-12-03T09:51:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/house-prices-interactive-guide/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/house-prices-interactive-guide/#When:08:05:00Z Figures produced this week show that house prices have risen by 10% in the last 10 months. However a number economists a suggesting that in the next year house will fall by the same amount as we have a double dip in the housing market. The Guardian have produced a great interactive guide to house price since 2006. 2009-12-02T08:05:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-starter-activity-for-every-lesson-up-to-christmas/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-starter-activity-for-every-lesson-up-to-christmas/#When:20:00:00Z The Guardian business section have produced a great advent calendar called a year in business. This would make a great starter activity in the run up to Christmas. RESOURCE SERIES, Super Starter Sunday 2009-12-01T20:00:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/go-gos-gone/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/go-gos-gone/#When:19:47:00Z We reported on a blog a few weeks ago that there were concerns that there would be toy shortages at Christmas as manufacturers have misjudged the demand. Well it looks like this has happened with the must have toy, Go Go Pets. MICROECONOMICS TOPICS, Competitive markets 2009-12-01T19:47:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/solar-panels-costs-set-to-fall-supply-and-demand-revision/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/solar-panels-costs-set-to-fall-supply-and-demand-revision/#When:21:37:00Z This article has lots of great bits of information to be used as a starter in a supply and demand lesson. Solar panel price have dropped 30% in the last year due to an increase in output and less orders because of the recession. A key goal for solar is what is known as grid parity, which is the point when it is as cheap for someone to generate power on their homes as it is to buy it from the grid. It is estimated this will happen next year in Italy due to a combination of high electricity prices and lots of sun. Something tells me it will be a while before the same can be said for the UK. A good activity would be to ask pupils to read the article and explain how each factor could affect the price and sales of solar panels using supply and demand diagrams. 2009-11-30T21:37:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-worlds-best-end-of-term-activity-fact/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-worlds-best-end-of-term-activity-fact/#When:19:32:00Z Once upon a time I worked at an oil company in London where I was given the opportunity to compete in an oil trading simulation with the rest of the new employees. I absolutely loved it as it brilliantly introduced how oil is traded. BP have surpassed themselves by adapting their graduate trading game to be taught in the classroom. There are a number of options available from simple trading to using futures making it usable for all year groups. My Year 10 students really enjoyed it and were able to practice their recently acquired knowledge of supply and demand. 2009-11-30T19:32:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/who-says-weve-got-nothing-to-export/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/who-says-weve-got-nothing-to-export/#When:19:24:00Z It seems the world can’t get enough of British TV with shows such as Strictly Come Dancing and Supernanny earning the economy almost £1 billion in 2009. This article could be used in a lesson on the balance of payments as an example of something that the UK is successfully exporting. 2009-11-30T19:24:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-mega-monday/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-mega-monday/#When:09:50:01Z Today is the day when online stores are expecting their highest takings of the year! Experts predict £400m will be spent in the run up to Christmas. As the UK is expected to be out of recession soon consumers have much more confidence than this time last year. MICROECONOMICS TOPICS, Competitive markets 2009-11-30T09:50:01-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/endangered-gadgets-innovation/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/endangered-gadgets-innovation/#When:08:22:00Z According to this slideshow, many gadgets which we have become dependent on such as the DVD player or mobile phone chargers face the threat of extinction in 2010. This article provides great examples of how firms must constantly innovate to stay competitive. Click read more for some questions on how firms compete. 2009-11-27T08:22:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/984000-for-six-bikes-diseconomies-of-scale/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/984000-for-six-bikes-diseconomies-of-scale/#When:08:06:00Z Tesco mistakenly paid Universal Cycles, who are owned by Sports Direct, £984,000 for six bicycles when they were meant to pay £984. They are still to get their money back with sports direct holding on to more than £120,000. This is a great example of Tesco suffering from diseconomies of scale as they have now become so big that no one noticed almost a million pounds being paid for 6 bikes until 10 days too late! 2009-11-27T08:06:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/woolworths-1-year-on/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/woolworths-1-year-on/#When:03:41:00Z 1 year ago Woolworths went bust. For many this was the defining moment in the recession. So what has happened in the last year? MICROECONOMICS TOPICS, Competitive markets 2009-11-26T03:41:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/carrot-or-stick-correcting-market-failure/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/carrot-or-stick-correcting-market-failure/#When:14:35:00Z Here is an article that would be perfect for explaining two different ways of reducing the negative externalities associated with landfills. The Stick Throwing rubbish into landfills produces many negative externalities including the production of greenhouse gasses. One way to solve this problem is introducing a landfill tax which aims to charge people for the rubbish they create. The Carrot The conservatives believe a better solution would be to pay families who recycle rubbish. A pilot scheme in Maidenhead has seen recycling increase by 30 per cent with the average household on course to receive £130 a year. A possible classroom activity would be to split the class into two and ask them to debate the pros and cons of each solution. Click read more for some GCSE style questions on market failure. 2009-11-24T14:35:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/pop-up-shops-how-firms-compete/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/pop-up-shops-how-firms-compete/#When:07:55:00Z A new form of advertising is becoming popular. Companies are opening temporary shops with the aim to create a buzz around niche brands. This video shows a Marmite shop being opened on Regents Street selling over 100 products linked to the spread. This would be a fantastic starter for a lesson on how firms compete. Click read more for some GCSE style questions 2009-11-23T07:55:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-video-to-start-the-week/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-video-to-start-the-week/#When:19:35:00Z The BBC have started doing a great new series of short videos called Biz Bites. This weeks video is particularly good and would make a great starter. RESOURCE SERIES, Super Starter Sunday 2009-11-22T19:35:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/should-taxes-on-alcohol-be-increased/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/should-taxes-on-alcohol-be-increased/#When:19:25:00Z There is so much is the news right now discussing the best way for the government to solve the UK’s massive budget deficit. This video shows a disadvantage of raising tax levels on alcohol as many landlords believe another increase will cause the end for their pubs leading to the loss of thousands of jobs. I am going to use this video alongside the two articles I wrote about last week and ask pupils to debate which taxes should be increased to solve the budget deficit. 2009-11-22T19:25:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/resources-for-a-lesson-on-protectionism/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/resources-for-a-lesson-on-protectionism/#When:18:57:00Z Back when I was at university, I remember writing a long essay on the ‘banana wars,’ one of the worlds longest running trade disputes. According to this article, a ceasefire is likely to be declared soon which could have a devastating effect on the ACP countries who have been used to special ‘preferences’ from the EU. Consumers look to benefit with prices likely to drop by 12% by 2016. This article would be a great activity for a lesson on the advantages and disadvantages of protectionism. This article from the Telegraph would provide a perfect starter for a lesson on protectionism as it briefly explains five important historical examples of protectionism. 2009-11-22T18:57:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-interactive-data-on-budget-deficits-around-the-world/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-interactive-data-on-budget-deficits-around-the-world/#When:17:20:00Z 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. MACROECONOMICS TOPICS, Government income and expenditure 2009-11-19T17:20:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-set-to-rise/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-set-to-rise/#When:17:00:00Z The cost of a barrel of oil has risen from $40 a year ago to $80 now with the price expected to rise even further in the coming months. These oil tankers are apparently refusing to dock and unload their contents until the price of oil rises! MICROECONOMICS TOPICS, Competitive markets 2009-11-19T17:00:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-video-on-how-to-use-the-oecd-website/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-video-on-how-to-use-the-oecd-website/#When:17:16:00Z 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. OTHER TOPICS, Globalisation 2009-11-18T17:16:00-06:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/direct-or-indirect-taxes-you-decide/ http://www.tutor2u.net/blog/index.php/gcse-economics/comments/direct-or-indirect-taxes-you-decide/#When:20:27:00Z I have been asking my year 11 students which taxes they would raise to reduce the UK’s massive budget deficit. These two articles would be perfect to help with the debate. The first shows a disadvantage of direct taxes as 50 millionaire hedge fund traders are leaving the city for Geneva to hide from the 50% income tax rate with fears that many will follow. The second article reveals how retailers are worried that VAT will be increased in the new year to 20%. A big disadvantage of increasing indirect taxes such as VAT is it could reduce spending. An interesting lesson activity would be to set up a debate about the pros and cons of direct and indirect taxes using the two articles as case studies. 2009-11-15T20:27:00-06:00