Blog and updates
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27 Dec 2022
Business Economics: $1 Million Per Day To Run a Cruise Ship
This is a super-interesting clip for business economics students: it costs $1million per day to run Royal Caribbean's Symphony of the Sea, a boat with 6,000 passengers per week, with a crew of...
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27 Dec 2022
Four Reasons to Expect Falling Inflation during 2023
2022 was a year when the rate of consumer price inflation accelerated sharply rising to 11% in November. As Chris Giles noted in a recent FT opinion piece, “a generation has had to worry about a...
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26 Dec 2022
Four Reasons to Expect Falling House Prices in 2023
The UK housing market has defied economic gravity for many years now, but 2023 is likely to be a period when average property prices drop. In this short video, I explore four reasons to expect a...
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24 Dec 2022
Human Development Index - 2022 Update
The data for the 2022 Human Development Index is now available and Switzerland has overtaken Norway to claim top spot in this composite indicator of development. However, for the second year in a...
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21 Dec 2022
Export Bans - Indonesia and Zimbabwe introduced new export restrictions
Two good examples for your Theme 4 macro notes! A growing number of countries rich in natural resources that the rest of the world needs are introducing export restrictions of raw, unprocessed...
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21 Dec 2022
Grocery supplier accuses Lidl of using monopsony power to destroy their business
A Grocery supplier, Proctor & Associates, is taking Lidl to court, alleging that the latter has systemically destroyed its business, using its monopsony power to poach its suppliers, or using...
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20 Dec 2022
How a worker exodus is hitting growth in the UK
The House of Lords Economic Affairs Committee have published a report looking at the state of the UK economy, noting that the loss of half a million workers from the UK economy poses an existential...
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19 Dec 2022
Call for wealth tax as number of UK billionaires jumps 20% since 2020
Another call for a wealth tax, with the Equality Trust noting that the number of billionaires in the UK has increased by 20% since the start of the coronavirus pandemic, as a result of government...
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19 Dec 2022
UK bus price cap scheme is extended
The government are introducing and funding a price cap - limiting the cost of bus journeys in certain locations to £2 per single journey. The cap will run from January 1 to March 31. This means...
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19 Dec 2022
Potholes ahead for UK car dealers?
Here is an example of change in action with an article looking at the future for car dealerships, suggesting that new models of buying cars and the banning of new petrol and diesel car sales from...
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19 Dec 2022
Is cyclical unemployment starting to rise in the UK economy?
Students need to have a clear understanding of the different types and causes of unemployment. Cyclical (or demand-deficient) unemployment is one of them. In this short revision video, we look at...
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19 Dec 2022
Explaining the difference between Disinflation and Deflation
Fears of price deflation now seem a distant memory with CPI inflation in the UK economy climbing to 11% during 2022. Students often confuse disinflation with deflation, so we have produced a quick...
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18 Dec 2022
Are higher wages to blame for fast rising prices?
Phillip Inman writes in the Observer about the notion being put about by the Chancellor and the Bank of England, arguing that wage settlements are in danger of sustaining inflation. But how true is...
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16 Dec 2022
Exporting waste - Thailand Is Tired of Recycling Your Trash
If you believe in free trade you might think that it seems reasonable to have developed economies exporting their waste to developing economies, notably in South East Asia.
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16 Dec 2022
Non-price competition - does it matter where beer is brewed?
This article about the nature of global brewing, and the production of 'foreign' beer in the UK, for the British market. Does it really matter where a beer is brewed?
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15 Dec 2022
Monetary Policy - UK base interest rates climb to 3.5%
Borrowing costs have risen again, by the forecast 0.5%, to 3.5% - the highest level for 14 years (i.e. since the 2008 global financial crisis). Inflation is still 10.7%, still nearly 9% above the...
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15 Dec 2022
Scotland raises higher rates of income tax to help fund increased NHS spending
Did you know that Scotland has a different income tax system to the rest of the UK? You do now, if only because Deputy First Minister, John Swinney, announced tax changes in his Budget today. The...
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15 Dec 2022
Rising inflation hits living standards for India's middle class
Proof here that inflation is not just a developed world phenomenon: it's a global issue, not least in South Asia, not least in Sri Lanka as a result of the financial crisis, and here in India,...
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15 Dec 2022
Development Economics - How Much is the Cost of Corruption?
This World Bank clip looks at the costs of corruption to developmental objectives - and the insidious nature of corruption in developing economies: eroding social capital, reducing trust in public...
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15 Dec 2022
New Zealand legislates to ban cigarettes for future generations
This is a really interesting story about New Zealand's latest move to eradicate smoking with the government passing legislation to ban smoking by gradually raising the minimum age at which you can...
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