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How can we make good decisions in a complex world? Read this article to find out what happens when we think too muchread more...»
Another easy to digest clip I use as a starter/plenary for lesson when teaching International Economics. This clip shows, in an easy to understand way the advatnages of specialization according to absolute advantage and comparative advantage, and the resulting trade patterns. There is a little theory in there but if you supplement this with the Blink and Dorton Text, plus some other websites such as Phil Holden, your students should grasp this concept as quickly as mine.read more...»
The Luckiest Nut In The World
A classic for any Economics teacher. I use this clip when teaching International Economics for the new 2013 Spec for IB HL Econ. A fun way to help solidify understanding of trade liberalisation and protectionism.read more...»
Great news item for linking Society (or Culture) with Lady Gaga’s Born This Way Ball Concert, which has hit problems in Jakarta, Indonesia…
The IB specification for 2013 states:
Analyse data on relative income shares of given percentages of the population, including deciles and quintiles.
Draw a Lorenz curve and explain its significance.
Explain how the Gini coefficient is derived and interpreted.
This revision workbook will help students preparing for the upcoming IB Economics exams ensure they are clear about the key theory they need in preparation for their exam. Read on to find out how to download your own copy.read more...»
Here’s a great case study to teach total quality management, productivity improvements and its impact on job satisfaction of employees. Read the full case study here…....
With the exams just a few weeks away, here’s this week’s top exam tip to help with evaluation - the STOP principle…
A brilliant news article from the New York Times that will have direct relevance to students for the UWP Mission to Loyka case study…read more...»
Here’s the next exam tip - this one focuses on evaluation, the essential skill required to get a Level 7…read more...»
Here’s the second exam tip for the upcoming IB B&M exams about learning the quantitative methods…read more...»
As the final examination is fast approaching, keep an eye on tutor2u for tips on preparing for the upcoming exams. The first tip in the series is about planning your revision carefully…read more...»
How well do you know the UWP case study? Take this week’s comprehension quiz to find out…
Create a personnel profile for all known stakeholders in the UWP case study
This week’s activity requires students to dissect the case study and create a personnel profile of Kos Palouk, Michael Donovan, General Meiri, General Pierce, the governor of Beral, and the Olive Hats.
How many women appear in the Fortune 500 top billionaires in the world? And how many of these are from China? Which computer maker saw profits soar 54% whilst its American rival reported a 44% drop in profits? Take this month’s current affairs quiz to find out…
A new part of the spec for HL IB Econ. Here is an interesting article on Green GDP from Professor Stiglitz (he is a Nobel Laureate and professor of economics at Columbia University)read more...»
This video explains how to calculate Gross Domestic Product mathematically and goes through a numerical example. It also shows how to calculate the percentage change in GDP from year to year.read more...»
Research Task – Theory
This week’s activity follows on from last week’s research task on the context of peacekeeping and the UWP Mission to Loyka case study. This week’s activity requires students to research and present their findings (either as a poster, research presentation, blog etc.) about relevant theory related to the case study. This activity will allow students to write better quality answers by applying relevant B&M tools, concepts and theories of the UWP Mission to Loyka.read more...»
A great clip and subsequent article from the BBC on GDP.read more...»
An excellent 3 minutes clip to highlight the impact of change in government policy in Greece. This amazing footage of Greece shows riots as fire bombs, stones fly in Athens - a reaction of the people to a slash in public spending, reduction of minimum wages and benefit payments. This clip would be a great aid to those students who struggle to evaluate in any ‘effectiveness of policy’ question - Greece is a great Case Study for any IB pupil.read more...»
An excellent clip [15 mins] from the BBC with Stephanie Flanders Reporting on the Eurozone Crisis.read more...»
An interesting article from Channel 4. Thanks to Twitter and Bryn’s Economics Blog for this clip.read more...»
Research Task – Context
This week’s activity is for students (and teachers if they like) to gather background information about the case study (such as peacekeeping). This will allow students to write better quality answers that are in the context of the UWP Mission to Loyka.read more...»
A useful blog entry for teachers and students of Economics and Business & Managementread more...»
This week’s activity is for students (and teachers if they like) to create a podcast of the UWP Mission to Loyka case study.
Kung Hei Fat Choi! Happy Chinese New Year of the Dragon.
Which BRIC country finally joined the WTO? Which luxury carmaker enjoyed record-breaking sales - a record held since 1978 - despite the global recession? Take the January Quiz to find out…read more...»
Welcome back and Happy New Year!
I’ve uploaded three revision games based on the UWP case study on Zondle…
I have uploaded 50 questions on the Business & Management Paper 1 case study: UWP Mission to LOYKA. Read here
This excellent clip from Phil Holden summaries the 6 types of market failure. An excellent revision resource, great the day before an end of topic test.read more...»
With the focus of the IB Business and Management Paper 1 case study on non-profit organizations (NPOs), I found this interesting article, written by Laurence Lien, the Chairman of Lien Foundation, on the role of non-profit organizations. Although his writings relate to Singapore, there are a lot of linkages one can establish between the Government of a country and NPOs. As one reads through the article, there is an interesting mention made of a hospital scenario. I thought this article relates perfectly to the case study, especially with the United World Peace Mission (UWP) contemplating on constructing either a hospital or a university at Loyka. By comparing government programmes to the big stones in a container and NPO programmes to the small stones filling the remaining gaps, Laurence acknowledges that NPOs can be a rich source of innovation and experimentation and that the public sector should welcome and encourage the proliferation of new ideas from the NPOs. Read more here ………..
The new Paper 1 case study (for May 2012 and Nov 2012) was released at the beginning of the month. No doubt, teachers and students will be working hard on this to prepare for the final examinations. I’ll be posting weekly activities to get us all familiar with the United World Peace Mission to Loyka…
This month’s November current affairs quiz is packed with questions from the airline and motor industries, and plenty about the BRIC economies. And a Premier League football club has proved you can’t run a business at a loss, however much you think your star players are worth.
How many of the 46 questions can you answer? Take the November quiz to find out…read more...»
Neuro economist, Paul Zak demonstrates how the hormone oxytocin promotes a variety of virtuous behaviors in humans such as trust, empathy and generosity. After ten years of research, Paul Zak established that oxytocin is the “moral molecule”. Click here for Paul Zak’s TED TALK on Trust, morality – and oxytocin.
With the Chief Executive dismissed just under two months ago, Yahoo is all set to undergo a strategic review. The internet giant must decide whether to go alone or succumb to suitors. Bidders range from China’s Alibaba to AOL and Microsoft apart from a few others, although Yahoo turned down Microsoft’s offer of $47.5 billion just three years ago, a very costly mistake which has seen its share price fall from $33 to a mere $16 now. However Yahoo is initiating minor internal adjustments to its capital restructuring process to avoid a hostile takeover, in the process, irking a few stakeholders. Is this turnaround strategy enough for Yahoo to revive its market share from rivals Google, Apple and Facebook?
Read more here .....
This week saw two new budget airlines being launched in the burgeoning no-frills travel market. Both airlines have focused on their brand names to show that their airline is indeed different. Singapore Airlines announced SCOOT, a new long-haul budget carrier to compete against Air Asia and Jet Star. In the wake of the Qantas debacle, a new budget air line was unveiled yesterday in Brisbane. Sporting the iconic green and gold colors, AIR AUSTRALIA is the new brand name for Strategic Airlines, which has been around for almost 20 years. With a soaring Australian dollar and a high demand for travel in Asia, this week’s announcement is strategic given that the global economy is slowing and fuel costs are going through the roof.
Read more on Scoot and Air Australia
Starting this month, I’ll be posting a monthly current affairs quiz for B&M students and teachers. It’s common knowledge that IB examiners prefer (and in some cases require) answers that use real world examples. There are 30 questions in this month’s current affairs quiz…read more...»
One of many great lectures by Jason Welker. The lecture below introduces linear supply equations, a topic new to the IB Economics syllabus.read more...»
Watch Marcus Du Sautoy in this documentary where he embarks into a journey of ‘self awareness’. Marcus subjects himself to a series of experiments in his search for answers to the mysterious question: How do we know who we are? Does the unconscious mind preside over the conscious mind? Is a sense of ‘self’ a trick of the ‘mind’? Watch the entire documentary to know the answers. It’s a great way to introduce TOK and the Ways of Knowing of Reason, Emotion and Perception to students.
In this article, Thomas L. Friedman highlights how today’s hyperconnected world requires white-collar workers to compete with a bigger pool of cheap geniuses, some of whom are robots, microchips and soft-ware guided machines. Thanks to iphones, Facebook, Skype, amongst others. Just under a decade ago, the connected world was a challenge to blue-collar workers. Thanks to globalization, outsourcing and the internet. Thomas L Friedman points out that for us teachers, the challenge is to inspire our students to be the ’better’ and ‘best’ people in today’s hyperconnected world. Read the article here ...
This viedo is a brilliant resource from the Khan Academy. Particularly useful for the new HL Paper 3 Data Response Exam.read more...»
A brief heads up for a new series on BBC Radio 4 tomorrow- Stephanomics. BBC economics editor Stephanie Flanders takes her popular blog to radio form. In the first episode tomorrow at 3pm she discusses the current global financial crisis with a range of experts from the field. Should be worth a listen.
An excellent clip to introduce the concept of consumption with students. Retailers in towns and cities across Northern Ireland are feeling the financial squeeze as shoppers are spending less than before.read more...»
For the IB new HL P3 data response paper, there seems to be an inherent lack of teaching material out there. Here is something I have put together based on some of my teaching resources used with my L6th classes this week. Surprisingly, my students raced through this material in less than one lesson and have grasped this concept with ease.read more...»
Should scientists be emotionless? Should they present cold, hard facts with no emotion whatsoever? Is it possible to argue a scientific point by bringing in emotion? These questions are raised in this interesting Science Blog.
This article raises many interesting questions on how the petrol price rises consistently over weekends and public holidays in Australia. Is there a correlation between higher demand from cars on the roads and therefore higher prices for fuel (based on market forces) or is it an artificial increase by retailers based on guidelines from their Associations or is it fueled by supermarket discount dockets or some other factors? Read the article ........
This year’s Forbes Rich List of the wealthiest Americans has been published. There is no surprise who is top, but how many women feature in the top 10 and how many people in the top 10 are related to one another? Read on to find out…read more...»
A short but fascinating TED talk entitled ‘Selling Condoms in Congo’ looks at a key development issue, AIDS, from the marketing persepctive.read more...»
Here’s a great visual to add to your PowerPoint presentations, class notes or as a stimulus for a starter/plenary when teaching labour productivity.
So what really is the estimated opportunity cost of Angry Birds in the workplace? And just how much is Rovio estimated to be worth now?! Read on to find out…
To spice up the possibly mundane lesson on Production Possibility Frontier’s I made use of this fantastic TED talk by Yasheng Huang.read more...»
Artist Kate Hartman uses wearable electronics to explore how we communicate, with ourselves and with the world. In this quirky and thought-provoking talk she shows the “Talk To Yourself Hat” and the “Muttering Hat”.read more...»
What language do deaf people think in? Can we think without language? If you had never heard language would you use it to articulate your thoughts? Do babies think in a language of sorts? If you can’t articulate your internal thoughts in linguistic form have you really thought them at all? Is language integral to our understanding of ourselves? Do we need our brain chatter to be formed into words, rather than feelings, in order to make sense of our emotions?
IB students should always be on the lookout for suitable articles to complete their internal assessment. This alcohol related piece from the BBC website is ideal.read more...»
I always try and make reference to businesses found in town. The students often find it easier to relate to and analyse. Morrisons is the the major supermarket in the town centre and last week they published promising results especially given the bleak economic times.read more...»
The Rugby World Cup kicked off this morning with an impressive victory for the hosts but what are the economic benefits of hosting such an event?read more...»
The major changes to the macroeconomics course are as follows…read more...»
The major changes/additions to the microeconomics course are as follows…read more...»
The new course has no formal introductory section but teachers are advised to spend time explaining why economics is a social science and introduce the concepts of scarcity and choice. The following four themes run through the course:
• The extent to which governments should intervene in the allocation of resources
• The threat to sustainability as a result of the current patterns of resource allocation
• The extent to which the goal of economic efficiency may conflict with the goal of equity
• The distinction between economic growth and economic development.
I aim to head on straight into the heart of micro and macro economics interweaving the above mentioned themes through the use of lots of real world examples.
I am now a couple of days into teaching the new IB Economics spec and am excited about the challenges that lie ahead.read more...»
With increasingly advanced computers being developed all the time Artificial Intelligence is no longer the reserve of science fiction novels. However, it has so far remained impossible to develop a computer which can fool humans into thinking it is also human. It’s thought processes have not lacked complexity but what is it that sets human thought apart from that of a computer?read more...»
It’s the start of the new academic year for many centres, and here’s a starter for teaching Unit 5.5 Location. The USA has, for the 3rd year running, slipped in the annual ‘Global Competitiveness’ league table compiled by the World Economic Forum. Which country is number 1? Is Britain in the top 10? Whilst there is no real surprise about Greece, which position has Hong Kong soared to? Read more to find out…
Some of the apps I am currently using either in the classroom or for developing lessons.read more...»
Having recovered from teaching on the ESF Economics and then the Business and Management revision courses I am now focused on iPad2 in the classroom.read more...»
A very common topic in the short answer paper, at Higher Level, is the multiplier. If you have learnt a working example this is a question you should aim for full marks in. Make sure you understand why different values for the multiplier result in different changes to national income. I have attached a worksheet that includes a variety of past exam questions.
As with all Economics qualifications the IBO places heavy emphasis on the effective use of diagrams. It is vital in the final two weeks before the exam that you take the time to learn precisely every digram outlined in the syllabus. You should be using diagrams in all three papers (two at standard level), the data response paper explicitly tests your understanding of them. In the data response paper part b) and c) in every question will begin “using a diagram…”. Given that there are 4 marks available for each part and you have three questions to answer 24 out of a possible 60 marks, in this paper, are directly available for effective use and understanding of diagrams.
Our revision toolkit for the Reach Out case study for IBDP Business & Management in 2011 is still available. Adam Dean, Head of Commerce & IT at Emirates International School - Jumeirah, has produced a comprehensive analysis of the Reach Out case, including a mock exam paper. This resource can now be ordered from the tutor2u online store here:
With the Easter holidays in full swing, May 2011 candidates are busy preparing for their final IB exams. This week’s ‘top tip’ for the B&M exams is about improving evaluation skills…read more...»
In this podcast, Prof. Sir Andrew Likierman of London Business School highlights how the success of the London 2012 Olympics should be measured and discusses the challenges of satisfying multiple stakeholders.
A perfect case study to teach Organizational objectives and Stakeholder analysis. Listen to the podcast here….
With just a week to go before the Easter holidays (in this part of the world anyway), May 2011 candidates will be busy preparing for their final IB exams. Here’s this week’s ‘top tip’ for the B&M exams courtesy of Brett Hillman and Fiona Charnley from Australia…read more...»
With just over 2 weeks to go before the Easter holidays, May 2011 candidates will be busy preparing for their final IB exams. Here’s this week’s ‘top tip’ for the B&M exams…read more...»
The internet, mobile phone technology and social media, along with television will result in nearly 35% of the world’s population watching the royal wedding next month. Even entrenched media giants such as CNN and BBC, not to mention cable channels such as Disney and several broadcasters are designing strategies to reach out to wider audience.
Why so much of the world will stop for the royal wedding, surpassing any other previous notable event in the world? The answer lies in the vivid display of new media options. Read the article here ……
Information designer Tom Wujec talks through three areas of the brain that help us understand words, images, feelings, connections. How can we best engage our brains to help us better understand big ideas? This is a great ‘Beginners Guide to Brain Function’.
click here for the linkread more...»
With less than 4 weeks to go before many students leave school for the Easter holidays and prepare for their final IB exams, each week I will be posting a ‘top tip’ for the B&M exams.
Here’s the fourth in the series…read more...»
I will, in just over a week’s time, be saying goodbye to my U6th IB Economists as they head off for their Easter break and preparation for their final papers. Over the coming days and weeks I will be making a regular series of postings to help students with this revision process.read more...»
IBDP Business and Management students will be busy preparing for the Paper 1 pre-release case study. How well do you know Reach Out? Take the 3rd in the series of the 10-question quiz to find out…read more...»
Coles and Woolworths have always been the leading supermarket chains in Australia. Of late, IGA is rising as a third force in the grocery retail business. The success behind IGA is attributed to the Human Resource strategies of its parent company, Metcash. Right from having a solid internal communications process to offering professional development opportunities for employees, Metcash has taken a number of initiatives to keep its staff motivated. This case study offers practical insights into Herzberg’s motivational factors of job enrichment and job advancement. Read the human resources strategies used by Metcash here …………
With 5 weeks to go before many students leave school for the Easter holidays and prepare for their final IB exams, each week I will be posting a ‘top tip’ for the B&M exams.
Here’s the third in the series…read more...»
With 6 weeks to go before many students leave school for the Easter holidays and prepare for their final IB exams, each week I will be posting a ‘top tip’ for the B&M exams. Here’s the second in the series…
In early March, I was privileged to have been invited to the Koç School in Istanbul, Turkey. The students I met were absolutely amazing – academic geniuses with real personalities and humbleness. This blog is dedicated to them…
IBDP Business and Management students will be busy preparing for the Paper 1 pre-release case study. How well do you know Reach Out? Take the second in the series of the 10-question quiz to find out. BTW, next month is Austism Awareness Month…
Starbucks is set to change its logo on its 40th anniversary this year. However, thanks to the power of the internet, fans protested this change through blogs and tweets. Howard Schultz, the CEO of Starbucks has unveiled ambitious plans of selling alcohol as well as coffee apart from selling Starbucks-branded goods in supermarkets.
Will Starbucks join the likes of Gap and Tropicana (who had to revert back to their original logo after consumer protests) or will Starbucks’ new logo become a force to be reckoned with in the emerging world of alcohol as well as the entrenched market of coffee? Read the article here……….
So where is the best place on the planet to live? And why are the BRICs all over the news? Take this week’s CAQ to find out…read more...»
With about 7 weeks to go before many students leave school for the Easter holidays and prepare for their final IB exams, each week I will be posting a ‘top tip’ for the B&M exams.
Here’s the first in the series…
IBDP Business and Management students will be busy preparing for the Paper 1 pre-release case study. How well do you know Reach Out? Take this 10-question quiz to find out…
We’re back from the Chinese New Year holidays, so here’s the latest current affairs quiz…read more...»
We’re back from the Chinese New Year holidays, so here’s the latest current affairs quiz…read more...»
China and India have been in the news again for all sorts of reasons… do you know why? And which American bank has reported more losses, this time amounting to USD1.2bn (£769m)? Take this week’s current affairs quiz to find out…read more...»
In preparing for the P1 pre-seen case study, I watched a brilliant 45-minutes BBC Four video with my students in class called “My Family and Autism”...
Which country has topped this year’s Economic Freedom Index, claiming the crown to the world’s freest economy? And which country came in bottom place? Read on to find out…
Which US car maker has launched the ‘Volt’ to take on Toyota’s mighty Prius? Which Wall Street bank - which remained profitble during the financial crisis - has reported an increase in profits of 47%? And which internet website, with over 400 million hits each month, has just celebrated its 10th anniversary? Take this week’s current affairs quiz to find out…read more...»
Used these two footy video clips as (light entertainment) starters for 5.4 Quality…read more...»
Which Chinese internet company has more customers than Facebook? And what is the most popular overseas destination for French Bordeaux wine? Having already launched the LePhone, Lenovo is about to launch a new gadget to take on the iPad – but what is it called? Take this week’s CAQ to find out…read more...»
Here’s an interesting article that can be used when teaching 2.3 Communication…
Model Dependent Realism is discussed by Stephen Hawking in ‘The Grand Design’. Model Dependent Realism is the notion that there is no one version of reality. Reality is not linear or one dimensional. It cannot be known or understood to be such.
Forget the traditional textbook example of product life cycles – which game caused a total storm in 2010 with sales of $360m (£227,848,101) on its first day of release? And who is the most successful female television entrepreneur of all time with her very own 24/7 cable network? Take this week’s CAQ to find out…read more...»
Useful videos from BBC Four and YouTube for the Reach Out case study (autism)...read more...»
Interested in teaching in the Humanities Faculty at an excellent international school in Hong Kong? We have two vacancies for Business Education from August 2011. There is also a post of responsibility in the Faculty for a Coordinator of Theory of Knowledge and IPSE. Read on for more details…read more...»
Right from companies wanting to improve sales and productivity, financial firms wishing to uncover fraud, police departments being able to predict crimes, to governments wanting to combat counterterrorism, NETWORK ANALYSIS is playing an increasingly useful role these days. All this is made possible by untangling the social web and analysing social connections. A multi-billion dollar endeavour, “Network Analysis” is now used to accurately map the spread of democracy and national security. Read more here…..
Non-profits are usually deemed to be run inefficiently by management experts and consultants. Interestingly, this article looks at how ‘for-profit’ organizations must emulate and learn from ‘non-profit’ organizations. Right from hiring and motivating employees to marketing. Also the term ‘not-for-profit’ is deemed to sound better than the term ‘non-profit’. I usually find supervising my students’ projects involving charities and non-profit organizations challenging, this article is indeed an eye-opener. Read the article here.