Blog and updates
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10 Feb 2017
Taiwanese farmers switch to generating clean energy
An interesting clip that touches upon at least two negative externalities.
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10 Feb 2017
German trade surplus hits record high
For those of you who know your Keynesian economics, this might set alarm bells ringing. Keynes was a believer that trade imbalances were problematic but that rather than deficit coutnies being...
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10 Feb 2017
Why the US cannot bully China on Trade
Kenneth Rogoff spells out one of the reasons why the President can't expect to bully China on trade: the extent to which China holds US debt, and the implications of this, and the prospect of price...
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9 Feb 2017
Bank warns of market failure from a return to lax financial rules
Many students will be exploring aspects of financial market failure as part of their A level economics course. This article from Kamal Ahmed is a useful primer on the importance of credible...
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9 Feb 2017
The Importance of Trade in Raw Materials
This excellent OECD clip looks at the importance of raw materials, such as rare earth metals, in global trade. It may tell you some things that you don't know and if you're inclined, I'd recommend...
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9 Feb 2017
UK tax burden set to be the highest in 30 years
There is a wealth of background information on the UK economy in general and the government's fiscal challenges in particular from the IFS web site.
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8 Feb 2017
Update on the Greek Economic Crisis
Dear, oh dear. It seems that Greece is the issue that won't go away, unsurprisingly, since it was never really resolved in the first place. Greek bond yields are up, and there are fears about its...
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7 Feb 2017
KAL draws... predatory pricing
Unmissable! Cartoonist KAL illustrates dumping when a firm floods a market with cheap goods to undercut the competition. A perfect bridging video for the economics classroom!
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7 Feb 2017
RIP Hans Rosling
What sad news today as we heard of the passing of Hans Rosling, the inspirational behind GapMinder and undoubtedly one of the best communicators of data over many years. Some of the tweets below...
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7 Feb 2017
Will Chinese living standards ever surpass those in the USA?
Possibly the single most important of the tensions stoked up by President Trump is the rivalry between the United States and China. Economic strength will be the ultimate determinant of this...
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7 Feb 2017
Eye scans to charge passengers
I like the prospect of companies utilising novel digital technology: in this case, the Rail Delivery Group have suggested that biometric technology, such as iris scans and face recognition software...
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6 Feb 2017
Motorists shun diesel vehicles
Evidence of an interesting shift in the car market with the Society of Motor Manufacturers and Traders (SMMT) noting that demand for diesels is down, reflecting changing consumer tastes.
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4 Feb 2017
Explaining High Drug Prices in the USA
This short video from Bloomberg is ideal when teaching the economics of oligopoly, pricing power, the relative bargaining strength of drug sellers and buyers and the extent to which regulation is...
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3 Feb 2017
Are economists blind to the failings of the EU?
Why is the economics profession so overwhelmingly opposed to Brexit?
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3 Feb 2017
Why does Nigeria import so much rice?
This is a great article looking at the nature of the global economy and asking why Nigeria imports so much rice, given that it can be grown there, and what the implications of this are?
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3 Feb 2017
Comparative Advantage: China (Finally) Masters the BallPoint Pen
This is a vivid illustration of the growth challenges facing China as it seeks to move away from "Assembled in China" to "Designed and Made by China."
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3 Feb 2017
Saudi Arabia Introduces VAT as Oil Revenues Slump
Very interesting news emanating from Saudi Arabia; the /cabinet have backed the imposition of value-added tax at an initial rate of 5% from 2018 to tackle the ongoing budget deficit. This has been...
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2 Feb 2017
ID in a Global Economy - Making Everyone Count
This World Bank clip looks at the consequences of 1.5 billion people not having formal proof of identity and the consequences of this. It also highlights the Bank's attempts to tackle this via the...
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2 Feb 2017
Why healthy people have high coverage and those most at risk don’t
A serious problem in countries with private health insurance is that some people get under-insured or have no insurance at all. This under-insurance problem was one of the motivations for Obamacare...
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2 Feb 2017
What Full Employment Means
This is an excellent short piece from the Economist exploring the concept of full employment
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