Blog and updates
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15 Sept 2022
Social Costs and the Circular Economy - Roof Waste in the USA
This Business Insider clip that promotes the circular economy and the potential to reuse waste. In this case, it's roof waste - notably shingles - that are being repurposed to become road surfaces...
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14 Sept 2022
UK inflation and interest rates - a quick update
The latest inflation figures suggest a slight dip in inflation - to 9.9% - but rising costs are eating into household budgets.
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14 Sept 2022
FDI into India - Foxconn and Vedanta to build $19bn India chip factory
Here is a good example for your globalisation / development notes. Taiwanese giant Foxconn and Indian mining company, Vedanta, has agreed a joint venture to build a semi-conductor plant in India,...
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14 Sept 2022
UK house prices climbing towards an average of £300,000
Average house prices increased 15.5% over the year to July 2022. This is the highest annual inflation rate the UK has seen since May 2003. The average house price in the UK is £292,000.
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14 Sept 2022
Retail Competition - Aldi becomes 4th largest UK supermarket
July 2022 marked an important moment for the UK retail grocery industry. The German discount chain Aldi has overtaken Morrisons to become the 4th largest supermarket by market share.
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13 Sept 2022
UK Economy - Unemployment rate falls to lowest level since 1974
The UK unemployment rate has fallen to 3.6% of the labour force. This is the lowest recorded unemployment since 1974.
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12 Sept 2022
Is this a time for central banks to be more cautious in raising interest rates?
Joseph Stiglitz has joined calls from some, notably David Blanchflower, for caution as regards central bank interest rate increases in the United States. Terrific stuff for Theme 2 and Theme 4 macro!
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12 Sept 2022
Price Mechanism in Action - London Hotel Prices Soar!
The Guardian reports that hotel prices are rising very quickly in the run up to the Queen’s state funeral. This is an excellent example of the price mechanism in action.
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12 Sept 2022
Development Economics - Yemeni coffee growers look to sell direct to improve returns
Last month saw an unusual coffee auction in London, with the National Yemen Coffee Auction selling coffee beans exclusively from the country and designed to showcase their quality.
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12 Sept 2022
Countries with the Highest Income Inequality
One question I often ask students to research is – which countries in the world have the highest income inequality?
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11 Sept 2022
Business Objectives - Will British Gas cap profits to cut energy bills?
This news from British Gas might prompt classroom debate about the theory of the firm, and the objectives of a business.
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11 Sept 2022
UK Economy - Why low business investment matters
A recent chart in the Financial Times showed UK business investment staying low in real terms and lagging well behind the trend growth from 2009 through to 2016.
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11 Sept 2022
Building Climate Resilience in Bangladesh
This UN clip looks at how climate change represents a fundamental threat to Bangladesh's developmental prospects, and how investment in enhancing climate resilience has made the coastal zone safer...
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7 Sept 2022
OFGEM director calls for two-tier energy market to improve affordability
A former director of OFGEM, Christine Farnish argues here that the regulator "favoured suppliers over consumers", implying that there's been a degree of regulatory capture.
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7 Sept 2022
Exchange rates - Pound falls to lowest level against dollar since 1985
The day's big economic story is about the pound falling to its lowest level against the dollar for nearly 40 years, and you need to think about the macroeconomic implications of this - they aren't...
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7 Sept 2022
Labour Market - More minority ethnic than white workers paid below UK real living wage
Evidence of discrimination in the labour market? The Living Wage Foundation data reported here would imply this - although a lot of the data is anecdotal.
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7 Sept 2022
Cost of Living Crisis - Boots debuts 'Everyday' budget essentials range
Boots is launching a budget range, with everything priced below £1.50. It is a good applied example of how businesses adapt to the prevailing economic climate real incomes falling and recessionary...
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6 Sept 2022
UK government attempts to defend their record on sewage discharges
This article from The Guardian looks at the failure of water companies to tackle the issue of sewage discharges into the UK's oceans, and touches on a range of issues, most obviously the negative...
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