• Unit 1 Micro: Using the Cost-Benefit Principle

    Updated: 2012-04-30 16:08:43
    The cost-benefit principle is one of those core ideas that can be brought into so many evaluation discussions both in micro and macroeconomics – you should be using it in your papers!

  • Unit 1 Micro: Climate Change Policies - Finding the Right Mix

    Updated: 2012-04-30 16:08:43
    There are many different market failures when it comes to understanding some of the key environmental problems and challenges of the age. Addressing, attacking and correcting for complex and multiple market failures requires pointing to different policy instruments / interventions. Together can they make a sizeable difference to consumer and business behaviour and lead us away from a “business as usual” approach?

  • OCR F585 A2 Economics Online Revision Clinic - 3 May 2012

    Updated: 2012-04-30 16:08:43
    Many A2 students are now working their way through the pre-released stimulus for the OCR F585 unit, perhaps helped by our popular OCR F585 Revision Toolkit! Geoff is hosting a one-hour online revision clinic on Thursday evening (3 May, 9pm) at which students can have any initial revision queries addressed. The clinic will be hosted here on this blog entry.

  • Macro Revision: Putting Things in Context

    Updated: 2012-04-30 00:07:20
    I always ask of my students that they try to put policy issues and decisions into context. The effective use of context - either in a domestic or external setting or using recent history as a guide can greatly improve evaluation marks in exam essays. Our aim in a revision session today was to build some of that context with respect to some of the key issues facing the UK economy. A starting point was the short and medium-term impact of the recession and how this is shaping the strength and pattern of recovery as we head through 2011 and into 2012. As befits an open economy heavily integrated into the European and global economic and financial system, many key recent developments on growth, jobs, inflation and trade are impacted by external demand and supply-side shocks and headwinds.

  • A2 Micro (Unit 3) Economics Online Revision Clinic - 10 June 2012

    Updated: 2012-04-29 16:06:40
    Students taking a Unit 3 exam as part of their A2 Economics this June may wish to get involved in our online revision clinic, which takes place a couple of days before the exam. The free online revision clinic will begin at 9.00 p.m. and last for an hour. Our Economics teacher panelists will be on hand to provide guidance and advice on key topics in A2 business economics (including labour market & transport economics) to help students focus their final revision efforts. To participate (e.g. ask questions or provide comments on topics discussed), students will need to login using their FB, Twitter or OpenID accounts.

  • Unit 4 Macro: Spanish unemployed head to Argentina

    Updated: 2012-04-29 16:06:39
    Catastrophically high unemployment in countries such as Spain are causing people to leave the Med in search of work elsewhere and thousands are trying their luck in South America. This short video from Al Jazeerah news looks at the growing number of people heading to Argentina looking for a job or perhaps the chance to start a new business. Watching it is a chance to revise some of the factors that affect the geographical mobility of labour? This Economist report looks at some of the causes of geographical immobility of labour.

  • Unit 1 Micro: End of the Road for the Lada

    Updated: 2012-04-29 16:06:38
    Boasting a steering wheel that doesn’t steer, an in car radio that is an optional extra and acceleration powers that - on a good day - can take you from 0 to 60 in less than three minutes, the Lada has for a long time been a figure of fun in global motoring circles. But production is coming to an end following a collapse in sales. As is often the case, news of the demise of the Lada has prompted increased interest among younger urban consumers whose DNA is to go against the grain and drive something that is sturdy, mercifully free of corporate design features and most of all, tremendously cheap.

  • Unit 2 Macro: Britain back in Recession

    Updated: 2012-04-29 16:06:36
    Provisional estimates show that Britain’s recovery from the debt crisis has stalled yet again with real GDP falling by 0.2% in the 1st quarter of 2012. Many small and medium sized businesses want to grow, have products whose demand is rising and wish to take advantage of a competitive exchange rate - but the fragility of the financial system is holding them back and the Channel 4 news broadcast below is superb in highlighting the weaknesses caused by fiscal austerity and de-leveraging in the banking system. The UK economy has seen almost no growth since the Coalition government took office in May 2010. Plan A isn’t working George.

  • Game show game theory

    Updated: 2012-04-26 21:25:34
    On Tuesday, a friend showed me a wildly entertaining video of a man “winning” a game show by utilising an astonishing understanding of game theory. Without spoiling it too much, the show involves a variant of the Prisoner’s Dilemma and invites the final two contestants to “split” or “steal” the pot of prize money. Video link below: ***WARNING: SPOILERS AND BORING ANALYSIS BELOW***

  • “One Direction” and Elasticity

    Updated: 2012-04-26 21:25:32
    I have to confess that I don’t actually know any One Direction songs but given that they have just completed a sell out tour of New Zealand and reduced teenage girls to levels of hysteria not seen since The Beatles, I thought I would use them to review elasticity as we approach our school exams.

  • Great Teaching Opportunity - Trinity School, Croydon

    Updated: 2012-04-26 21:25:31
    Teacher of Economics and/or Business Studies at A Level, for September 2012

  • AS Macro (Unit 2) Economics Online Revision Clinic - Monday 30 April

    Updated: 2012-04-26 21:25:30
    The second in our series of online revision clinics for A Level Economics will take place on Monday 30 April 2012 at 9pm (UK BST). The focus of this free one-hour revision clinic will be the Unit 2 exam on macroeconomics, covering AQA, Edexcel, WJEC and OCR topics. Students who wish to get live support from our Economics team will be able to login to the clinic on this blog entry; please use your FB, Twitter or OpenID details to login.

  • Uploading your essay for the RES competition 2012

    Updated: 2012-04-26 21:25:29
    It is likely to be a busy few days on our servers as entries flow in for RES essay competition. This is link to use

  • The Bizarro World of Professor Sen

    Updated: 2012-04-26 16:12:54
    | Peter Klein | Here is another of those head-scratchers, this one from Amartya Sen, about how neoclassical economics is partly responsible for the financial crisis because neoclassical economists believe that markets work “perfectly”: Since the crisis broke out the economics profession in general and mainstream economics in particular have been severely criticised. Do you [...]

  • Tullow Oil and African Development

    Updated: 2012-04-25 15:12:14
    Yesterday I spent a fascinating evening in the company of Aidan Heavey, Founder and CEO of Tullow Oil plc, Africa’s leading independent oil exploration business and the top performer among FTSE-100 listed businesses on the UK stock exchange. It has approximately 100 production and exploration licenses in 22 countries.

  • Part-time Work and Discursive Resistance and Foucault and Stuff

    Updated: 2012-04-24 08:22:22
    | Lasse Lien | I both challenge and reify this: Contributing to a Foucauldian perspective on ‘discursive resistance’, this paper theorizes how part-time workers struggle to construct a valid position in the rhetorical interplay between norm-strengthening arguments and norm-contesting counter-arguments. It is thereby suggested that both the reproductive and the subversive forces of resistance may [...]

  • Economics at the Movies

    Updated: 2012-04-23 23:47:18
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  • Unit 4 Macro: African Aid - Helpful or Harmful?

    Updated: 2012-04-23 07:45:50
    This highly interactive programme on Al Jazeerah a few days ago focused on the impact of foreign aid on the African economy. It runs for 35 minutes but there is plenty of interesting debate and many comments flying in on the twitter feeds. Plenty of discussion that might inform a revision session on the future for the African economy and the debate over the effectiveness of aid programmes.

  • Explosive Economists

    Updated: 2012-04-23 03:10:23
    | Peter Klein | I’ve always liked the actor John Lithgow, not only because of his smarmy yet likeable weirdness (keep your comments to yourselves, please), but also because he’s married to an economist, the UCLA economic historian Mary Yeager. (The late Fred Bateman told me that when he and Yeager were just starting out, [...]

  • Unit 4 Macro: The Euro Zone Crisis (Revision)

    Updated: 2012-04-22 23:45:08
    Here is a revision blog on some of the key economic challenges facing the seventeen member nations of the Euro Zone or Euro Area

  • Unit 2 Macro: Heathow’s Capacity and Connectivity Crunch

    Updated: 2012-04-22 23:45:06
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  • Unit 1 Micro: Adecco and Monopsony Power

    Updated: 2012-04-22 23:45:05
    Here is an example of monopsony power in the labour market and the risk of exploitation of employees. Britain’s largest recruitment agency, Adecco, is being accused of short-changing temporary staff by rounding down their holiday pay. Hundreds of thousands of people are employed by contract recruitment businesses - this is a timely reminder of the importance of employment legislation as a means of protecting the pay and conditions of people in vulnerable jobs.

  • Unit 1 Micro: Externalities - Deepwater Horizon 2 Years On

    Updated: 2012-04-21 23:57:52
    This short Al Jazeerah report looks at the aftermath of the Deepwater Horizon disaster and the impact it continues to have on the regional fishing industry. Two years since oil company BP’s Deepwater Horizon rig exploded in the Gulf of Mexico, resulting in a massive oil spill, fishermen in the region are still suffering. The explosion killed 11 people and resulted in the worst accidental offshore oil spill in US history.

  • AS Micro: Markets and Market Failure: Economics Online Revision Clinic - Monday 23 April

    Updated: 2012-04-21 23:57:51
    Join Geoff Riley and other members of the tutor2u team for a free online revision clinic here (Monday 23rd April) on the tutor2u Economics Blog. Starting at 9.p.m. (BST) = we’ll be here for an hour to help with any revision problems or queries you might have. Please note - the focus will be on students taking a Unit 1 exam on microeconomics (markets and market failure. We’ll be able to cover all the main exam boards, including AQA, Edexcel and OCR. This blog entry will host the online discussion. To participate when the event is live, you will need to login using either your Facebook, Twitter or OpenID account.

  • Unit 3 Micro: The Third Industrial Revolution

    Updated: 2012-04-21 07:56:00
    This is well worth watching! It is an 8 minute discussion from the Economist which examines what is being called “The Third Industrial Revolution” - based around the digitisation of manufacturing processes. Concepts such as 3d printing and advanced robotics are discussed, as are concepts such as competitiveness, productivity and product personalisation. One possible consequence of these changes might be that high quality manufacturing may begin to move back from lower-wage economies such as China and back to economies like the USA.

  • Birger Wernerfelt Receives Honorary Doctorate from CBS

    Updated: 2012-04-20 22:58:57
    | Nicolai Foss | Wernerfelt, a key originator of the resource-based view of strategy (here) who has made numerous important contributions to the economics of organization, marketing, and other fields, received the degree at a ceremony at the Copenhagen Business School yesterday (another recipient of the honorary doctoral degree was Deirdre McCloskey). I motivated the [...]

  • Tutor2u in Madrid 2012

    Updated: 2012-04-20 15:54:51
    It was great to host Geoff and Mo (see below) here at King’s in Madrid last Friday as 100 students from three schools gathered for the AS and A2 Macro Revision Workshops that have toured the UK this spring – a fantastic boost to their study programmes a few weeks before exam season starts.

  • Which university major pays the most?

    Updated: 2012-04-20 15:54:50
    Here is a set of data that can be used to make your current students feel good about taking Economics and perhaps posting it outside your classroom may even attract a few more!

  • Teaching Vacancy - Economics at Westminster School

    Updated: 2012-04-20 15:54:49
    Economics teaching opportunities like this don’t come along very often - a chance to join the Economics team at Westminster. Details below (don’t forget to mention you saw this on the tutor2u Econ blog!)

  • Preparing for the AS Economics Macro Paper 2012

    Updated: 2012-04-20 15:54:48
    This comprehensive new revision presentation by Geoff is designed to provide support for AS Economics students (and their teachers) in the final stages of their revision for the Unit 2 paper on macroeconomics.

  • No Best Practice for Best Practice

    Updated: 2012-04-20 10:56:38
    | Lasse Lien | An important selling point for the consulting industry is that consultants can presumably help a firm identify and implement “best practice.” Surely the consulting industry is an important channel for disseminating knowledge of better ways of doing things, but identifying what constitutes best practice for a given firm in a given [...]

  • Unit 2 Macro: Better news on jobs in the UK?

    Updated: 2012-04-19 21:29:29
    This excellent news video from Channel 4 news looks at the changing pattern of employment in the UK economy. The number of full time workers is dropping and there has been a big switch towards part-time employment. Who are the winners and losers in our labour market as the fragile recovery struggles to maintain momentum?

  • Ent Soc: Aidan Heavey CEO of Tullow Oil Plc

    Updated: 2012-04-19 21:29:27
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  • Form for submitting RES competition essays

    Updated: 2012-04-19 21:29:26
    This is the form to use when submitting essays for the 2012 RES competition. The closing date for essays is midnight on Monday 30th April https://tutor2u.wufoo.com/forms/res-young-economist-of-the-year-2012/

  • Time to Say Goodbye, but Not Really

    Updated: 2012-04-19 20:45:26
    | Peter Lewin | After a most enjoyable and productive tour as a guest blogger on this site (at least for me), the time has come to say goodbye. I do so at an auspicious moment, having just received my copy of Organizing Entrepreneurial Judgment. This book brings together important work by two of the hosts of this site [...]

  • New Economics CPD Course: A Level Economics TheoryBuster

    Updated: 2012-04-19 13:26:41
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  • New Economics CPD Course: A2 Essential Economics

    Updated: 2012-04-19 13:26:40
    Details here of a new CPD course for colleagues who wish to focus on renewing and improving their department’s approach to the teaching of A2 Economics courses. A2 Essential Economics will focus purely on core topics teaching strategies for Units 3 and 4 for AQA, OCR and Edexcel. Further details of the course programme are provided below. The first running of this course is on 13 June 2012 in Central London. Places on the course are available at just £175 (+VAT) and can be booked online here: https://tutor2u.wufoo.com/forms/essential-as-a2-economics-cpd-course/

  • New Economics CPD Course: AS Essential Economics

    Updated: 2012-04-19 13:26:38
    We’re pleased to announce a new CPD course for A Level Economics teachers which will run on 20 June 2012 in Central London. tutor2u bloggers and workshop presenters Ruth Tarrant and Paul Bridges will lead the course which will provide a superb boost for colleagues who are new to teaching Economics or wish to extend or refresh their current approach to AS Economics. Places on the course are available at just £175 (+VAT) and can be booked online here: https://tutor2u.wufoo.com/forms/essential-as-a2-economics-cpd-course/

  • Paradigm Shift

    Updated: 2012-04-18 16:00:25
    | Peter Klein | Did you know this year is the semicentennial of Kuhn’s Structure of Scientific Revolutions? David Kaiser offers some reflections at Nature. At the heart of Kuhn’s account stood the tricky notion of the paradigm. British philosopher Margaret Masterman famously isolated 21 distinct ways in which Kuhn used the slippery term throughout [...]

  • Unit 3 Micro: Key Diagrams for Business Economics

    Updated: 2012-04-18 13:24:50
    Here is a revision download containing some key theory diagrams and accompanying explanation for topics in business economics / theory of the firm / market structures. Key_Diagrams_A2_Business_Economics.pdf

  • Unit 1 Micro: Revision Question on Road Tolls

    Updated: 2012-04-18 13:24:49
    I have put together a unit 1 micro markets and market failure question focusing on the economics of motorway congestion and road tolls. It is available as a pdf download if colleagues would like to take a look. I will post some suggested answers in a few days and link back to this blog.

  • Unit 3 Micro: Revision Game on the A-Z of Micro

    Updated: 2012-04-18 13:24:48
    Here is an A-Z quiz where you type in the answer to 26 concepts on the A2 micro course. Created using Zondle this game uses the Bubble Shooter game. Details below

  • Economics Revision Workshops - Winter 2012 (Units 1 & 3)

    Updated: 2012-04-16 02:14:53
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  • Unit 4 Macro: Managing the Global Commons - Limits to GDP

    Updated: 2012-04-16 02:14:52
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  • Unit 4 Macro: Mini Documentary on Financial Instability

    Updated: 2012-04-16 02:14:50
    “It is not that human beings are irrational, it is that they are human” Here is a terrific short film on the causes of financial instability and the cracking of faith in markets. The Institute for New Economic Thinking has just launched the first of a series of short documentaries on economics Click below for the first of them

  • RES Essay 2012 - Referencing your Work

    Updated: 2012-04-16 02:14:49
    Winning and commended essays in the RES essay competition must be properly referenced - this is one of the criteria used by the judges - good essays will draw on a range of sources and offer a proper bibliography at the end - here is a tool that will help

  • Unit 4 Macro: Globalisation Revision Quiz

    Updated: 2012-04-15 06:35:55
    This 12 question - Type the Answer - Revision Quiz created using Zondle focuses on globalisation

  • Economics Chart Quiz 4

    Updated: 2012-04-14 21:29:29
    Here is Chart 4 in our occasional quiz! Today’s chart focuses on the changing nature of the UK labour market in recent years. There are two data series to identify - in each case the chart shows the monthly level of each variable - look carefully at the two axes, a split scale is being used. Data A refers to the right hand axis and Data B refers to the left hand axis. Can you identify what is being shown here? The answer to chart quiz 3 can be found below.

  • Unit 4 Macro: Revision Quiz on Macro Concepts

    Updated: 2012-04-14 05:28:05
    Test your understanding of some key Unit 4 macro concepts with this quick quiz created using Zondle

  • Get Off My Lawn

    Updated: 2012-04-14 01:06:55
    | Peter Klein | The boys from orgtheory.net were parking in our maintenance lot, so we had to put up signs. (Spotted in Champaign, IL.) Filed under: - Klein -, Ephemera

  • Royal Mail’s refusal to supply

    Updated: 2012-04-13 21:27:36
    Here is the sub-heading from the report in today’s Daily Telegraph: “Royal Mail is limiting the number of stamps it supplies to retailers now to ensure it profits from record price rises later this month.” The report goes on “Royal Mail confirmed on Thursday that it had imposed a cap on the number of stamps every shop could buy. Retailers said it was refusing to restock them when they exceeded their allocation.” Ian Murray, the shadow postal affairs minister, says that he will be writing to regulator Ofcom about this rationing of supplies.

  • Unit 3 Micro: Revision on Nationalisation

    Updated: 2012-04-13 21:27:35
    Here is a revision presentation for A2 microeconomics on the economics of nationalisation. This is the process of taking an industry or assets into public sector ownership by a national government it raises important issues concerning economic efficiency and welfare in different markets.

  • Unit 1 Micro: Ban on cigarette display advertising

    Updated: 2012-04-13 13:27:03
    In a fresh move to reduce consumption of cigarettes, legislation has come in force banning the displays of cigarettes for sale in large retail stores. The display ban will apply to shops of more than 280 sq m (3,014 sq ft). Newsagents and small stores can display cigarettes until 2015, giving them time to refit shelves and cabinets.. It is part of the armoury of interventions that have been tried over the years to change consumer behavioural - from real terms increases in cigarette taxes to bans on advertising and ever-stronger advertising and health campaigns. The focus of the ban is to influence younger smokers by removing cigarettes from point of sale display - will it be effective? This news report below from Al Zajeerah looks at the new measure

  • Unit 2 Macro: Brazilian Growth and Sustainability

    Updated: 2012-04-13 13:27:02
    A short BBC news video here on rapid growth and development in the Brazilian city of Manaus, on the banks of the Amazon river. A new bridge across the world’s biggest river and a healthy manufacturing sector are providing many new jobs. But what of the ecological challenges and threats that this creates?

  • Alcohol - negative externalities of consumption and production.

    Updated: 2012-04-13 13:27:01
    There have been a lot of excellent resources on this blog relating to the different approaches that the government might take to reduce the negative externalities of excessive alcohol consumption. But most of them (for example, taxes and minimum prices) also affect those who enjoy modest amounts of alcohol such as a glass of wine (or two) with dinner. Why should these people pay a much higher price when they do not cause any negative externalities?

  • Ukraine Hotel ‘Bandits’?

    Updated: 2012-04-13 13:27:00
    Surely this is just a case of basic economics? What do you think, are the criticisms justified? Link to article

  • Qantum + Politics = Ψ(Fun)

    Updated: 2012-04-13 10:47:18
    | Lasse Lien | O&M is nonpartisan, but this description of Mitt Romney as the first quantum politician is IMHO so funny that it would be downright irresponsible to ignore it. After describing how other candidates operate under Newtonian principles, where a candidate’s position on an issue remains constant until acted upon by some outside [...]

  • Unit 2 Macro: Skills Shortages Hold Back Recovery

    Updated: 2012-04-12 15:22:32
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  • Dilbert on Jim Collins

    Updated: 2012-04-12 15:16:29
    | Peter Klein | Looks like Scott Adams has been reading O&M! Filed under: - Klein -, Management Theory, Myths and Realities

  • Unit 3 Micro: Quiz on Business Costs and Profits

    Updated: 2012-04-12 02:58:15
    Here is a twelve question quiz on business costs, revenues and profits. In the quiz simply type in the answer - correct answers take you straight into a Zondle game!  

  • Unit 3 Micro: Quiz on Market Structures

    Updated: 2012-04-12 02:58:14
    Here is a 12 question quiz on aspects of market structures such as monopoly created using Zondle - type in the answer to a selection of key terms

  • Speaker Line Up for the Economics Teacher Conference

    Updated: 2012-04-12 02:58:13
    Our speaker line up is complete for Tutor2u’s 10th Anniversary Economics Teacher National Conference! We are delighted to have four outstanding economists and communicators to talk on a range of current issues and the day provides a terrific opportunity to celebrate our marvellous subject and enrich our passion for what we do in the classroom ahead of the summer break! Our keynote speakers are as follows:

  • Apple Being Naughty!

    Updated: 2012-04-12 02:58:12
    For those of you studying oligopoly markets and the issue of collusion, then have a read of this interesting article which focuses on the US government launching legal action against Apple and five book publishers (Macmillan, Hachette, Simon & Schuster and HarperCollins) for a scheme that it said pushed up the cost of e-books not just on Apple’s iPad devices but across the industry and across the world. Here is a link to the article

  • Government Intervention in the Energy Market

    Updated: 2012-04-11 18:56:37
    If students are looking for a great example of government intervention then look no further than the very current example in the news. The media is awash with Nick Clegg claiming a break through in helping consumers get better deal from the big six energy companies. Students who use such recent examples in their responses can differentiate themselves from all the other exam scripts an examiner is marking. Here is a link to the article on BBC News

  • Football Clubs to Pay for Negative Externalities

    Updated: 2012-04-11 18:56:36
    A report by the Association of Chief Police Officers (ACPO) has suggested that football clubs need to contribute more towards the costs of policing the anti-social behaviour that results after matches. A great article that can be used to discuss negative externalities and the difficulties in quantifying social costs. Here is a link to the article

  • Unit 3 Micro: Evaluation Question on Supermarkets

    Updated: 2012-04-11 18:56:34
    Here is a presentation focusing on an evaluation question on supermarkets. The question is “Evaluate the factors that affect the profitability of the major food retailers in the UK.”

  • Unit 2 Macro: Globalisation and the Growth of Ports

    Updated: 2012-04-11 02:54:52
    Ports are a key part of the critical infrastructure of a country engaged in trade with the rest of the world. This BBC news video looks at the rapid expansion of container ports in the Gulf - facilities that offer a vital link between Europe to the west and China and India to the east.

  • Economics Chart Quiz 2

    Updated: 2012-04-11 02:54:51
    Here is chart 2 in our occasional chart quiz series. This data is for an industry in the news in the UK that suffered a steep downturn during the recession but now seems to be battling back strongly with a high percentage of output destined for overseas export markets. Which product is being shown in this data chart? The answer to the first quiz can be found below.

  • Unit 3 Micro: Revision on Entry Barriers

    Updated: 2012-04-11 02:54:50
    Here is a revision presentation focusing on different entry and exit barriers in imperfectly competitive markets. Entry barriers: * Block potential entrants from making a profit * Protect the monopoly power of existing firms * Maintain supernormal profits in the long run * Barriers to entry make a market less contestable

  • Unit 3 Micro: Revision on Price Discrimination

    Updated: 2012-04-09 19:07:25
    This is an updated revision presentation on price discrimination in markets designed for A2 micro students.

  • 2012 Economics Revision: Ways to Improve your Paper

    Updated: 2012-04-09 19:07:24
    Here is a revision presentation offering ideas for stronger evaluation and analysis in your AS and A2 economics exam papers. Ten strands are suggested for students who want to build really good answers especially to evaluation questions.

  • Superb article on unemployment

    Updated: 2012-04-09 03:06:20
    Here is a superbly clear and relevant article on the Channel 4 news blog from Jonathan Portes, head of thr NIESR - it focuses on the unemployment problem facing the UK economy and outlines some policy options for cutting the jobless total. Superb for both AS and A2 macro students.

  • Unit 1 Micro: Market Failure in Private Health Care

    Updated: 2012-04-09 03:06:19
    The supply of health care in the UK is an important economic, social and political issue. Demand for health care treatments grows year by year as the population expands, ages and as incomes rise. For millions of people private health care is regarded as a necessity even though the NHS provides a vast range of services free at the point of use. Treatments such as cosmetic surgery, hand surgery, laser eye treatment, physiotherapy, weight loss services and hip and knee replacements are offered by a range of private sector providers in addition to state health care facilities.

  • Twitter - Help with Economics Revision

    Updated: 2012-04-08 19:04:48
    We are making frequent use of Twitter over the coming weeks to showcase useful revision resources and flag up good economics links that will help you prepare for the AS and A2 exams. Please check out the revision hash-tags #aseconomics (Units 1 and 2) and #a2economics (Units 3 and 4). You can find Jim Riley’s tweets @tutor2u and Geoff Riley’s tweets @tutor2u_econ. Plenty of other teachers will be using the hash-tags to support their own revision materials. The hash-tag #ecbusteach is also in common usage among the Economics and Business teaching community - some great links and resources there for teaching colleagues.

  • Unit 3 Micro: Revision on Business Objectives and Pricing

    Updated: 2012-04-08 19:04:45
    This blog links to a revised A2 micro revision presentation on business objectives and pricing.

  • Unit 3 Micro: Revision on Contestable Markets

    Updated: 2012-04-08 19:04:44
    This blog links to an updated revision presentation on the economics of contestable markets.

  • Unit 3 Micro: Revision on Monopoly Price and Output

    Updated: 2012-04-07 03:45:24
    Show and explain how a monopolist maximises profit in a market

  • Unit 3 Micro: Monopoly and Economic Welfare

    Updated: 2012-04-06 19:45:02
    Analyse the equilibrium price and output equilibrium under monopoly and perfect competition. Show and explain the deadweight welfare loss under monopoly and consider when a monopoly might be more productively efficient than a competitive market.

  • Unit 2 Macro: Inflation and the Business Environment

    Updated: 2012-04-06 19:45:00
    This is a new revision presentation which provides an overview of inflation and the business environment. The measurement and causes of inflation are outlined together with notes on the potential impact of inflation on business.

  • Unit 2 Macro: How the Economic Cycle affects Businesses

    Updated: 2012-04-06 19:44:59
    This updated revision presentation guides students through the topic of business cycles and economic growth. It looks at issues such as: - How economic growth is defined and measured - The nature of the business cycle - How different kinds of businesses are affected by the economic cycle - The Credit Crunch

  • Unit 3 Micro: Revision on Scale Economies and MES

    Updated: 2012-04-06 19:44:57
    What is the connection between economies of scale and the minimum efficient scale?

  • AS Macro Revision Quiz 2

    Updated: 2012-04-06 19:44:55
    Here is the second of our AS macro revision quizzes - students are asked to type in the correct answer! Have a go.

  • Unit 1 Micro: Revision on Price Elasticity of Supply

    Updated: 2012-04-06 19:44:54
    Here is a planned answer to an exam question “Discuss how the price elasticity of supply of coffee might differ in the short run and long run.”

  • Unit 3 Micro: Revision on the Law of Diminishing Returns

    Updated: 2012-04-04 17:21:33
    Why does the law of diminishing returns imply that average total cost is “U-shaped” in the short run?

  • Unit 1 Micro: Revision on Producer Surplus

    Updated: 2012-04-04 17:21:31
    Here is a planned answer to an exam question on producer surplus “The demand for cider falls. Using a diagram, explain what happens to producer surplus.”

  • Unit 2 Macro: The UK Balance of Payments in 2011

    Updated: 2012-04-04 17:21:30
    Here is an update on the UK trade / current account of the balance of payments figures for 2011. Has there been a noticeable improvement in our trade performance given the 25% depreciation of sterling in recent years? Which parts of the trade accounts have improved? What are some of the key underlying trends? Follow the charts and the brief commentary on each.

  • AS Macro Revision Quiz 1

    Updated: 2012-04-04 17:21:29
    Here is the first of a series of AS macro revision quizzes created using Zondle - simply type in the answer to the ten questions - see who can get the highest score!

  • Economics at University - Our 2012 UCAS Guide

    Updated: 2012-04-04 17:21:27
    Colleagues helping their students apply for Economics courses at university may wish to download our 2012 UCAS Guide to Economics which is available from the link below: Geoff Riley’s UCAS Guide for Economics Applications 2012

  • Economics revision comes to the Olympics! 24 April 2012

    Updated: 2012-04-04 17:21:26
    Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Intl Bacc Sociology Law Religious Stds Management History Geography Give It a Go Other Blogs Search tutor2u Contact tutor2u Online tutoring Latest News Buy Resources Teacher Newsletters Facebook AS A2 Blog GCSE Blog Revision Materials Economics Shop Teacher CPD Revision Workshops econoMAX Business Blog Biz Quiz Bus Studies Shop Teacher CPD Revision Workshops Business Cafe Politics Blog Revision Materials Politics Shop Teacher CPD FPTP TOK Blog IB Economics Blog IB Bus Management Blog Sociology Blog GCSE Revision Materials Shop Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog

  • Neonicotinoids - resulting in the most significant negative externality of production ever?

    Updated: 2012-04-04 06:35:22
    That is a big call, with candidates such as the Union Carbide factory in Bhopal, and Chernobyl. However, the difference with these examples is the negative externalities resulted from a single catastrophic event. The negative externalities of neonicotnoids occur because of the widespread use of insecticide and only now have studies proven its devastating effects.

  • Unit 1 Micro: Revision on Elasticity of Demand (for Rice)

    Updated: 2012-04-04 06:35:21
    Here is a planned answer to an exam question “Assess whether the demand for rice is likely to be price elastic or price inelastic”

  • Unit 3 Micro: Revision on Takeovers and Mergers

    Updated: 2012-04-03 22:35:02
    This blog focuses on some of the reasons why many takeovers and mergers fail to bring about the synergy gains and improvements in shareholder value that were predicted before the integration of the businesses.

  • Unit 2 Macro: Revision on Interest Rates and the Exchange Rate

    Updated: 2012-04-03 22:35:01
    : Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Intl Bacc Sociology Law Religious Stds Management History Geography Give It a Go Other Blogs Search tutor2u Contact tutor2u Online tutoring Latest News Buy Resources Teacher Newsletters Facebook AS A2 Blog GCSE Blog Revision Materials Economics Shop Teacher CPD Revision Workshops econoMAX Business Blog Biz Quiz Bus Studies Shop Teacher CPD Revision Workshops Business Cafe Politics Blog Revision Materials Politics Shop Teacher CPD FPTP TOK Blog IB Economics Blog IB Bus Management Blog Sociology Blog GCSE Revision Materials Shop Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog

  • Unit 4 Macro: Productivity Improvements in China

    Updated: 2012-04-03 22:35:00
    : Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Intl Bacc Sociology Law Religious Stds Management History Geography Give It a Go Other Blogs Search tutor2u Contact tutor2u Online tutoring Latest News Buy Resources Teacher Newsletters Facebook AS A2 Blog GCSE Blog Revision Materials Economics Shop Teacher CPD Revision Workshops econoMAX Business Blog Biz Quiz Bus Studies Shop Teacher CPD Revision Workshops Business Cafe Politics Blog Revision Materials Politics Shop Teacher CPD FPTP TOK Blog IB Economics Blog IB Bus Management Blog Sociology Blog GCSE Revision Materials Shop Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog

  • Unit 1 Micro: Insider Information and Market Failure

    Updated: 2012-04-03 14:33:50
    : Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Intl Bacc Sociology Law Religious Stds Management History Geography Give It a Go Other Blogs Search tutor2u Contact tutor2u Online tutoring Latest News Buy Resources Teacher Newsletters Facebook AS A2 Blog GCSE Blog Revision Materials Economics Shop Teacher CPD Revision Workshops econoMAX Business Blog Biz Quiz Bus Studies Shop Teacher CPD Revision Workshops Business Cafe Politics Blog Revision Materials Politics Shop Teacher CPD FPTP TOK Blog IB Economics Blog IB Bus Management Blog Sociology Blog GCSE Revision Materials Shop Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog

  • Business of Football - Life in a Northern Town

    Updated: 2012-04-03 14:33:49
    For those of you who love your football and the business numbers behind it, here is a splendid piece of analysis on the changing business fortunes of Newcastle United FC, currently riding high in the Premier League. Highly recommended reading.

  • Unit 1 Micro: The Collapsing Price of Carbon

    Updated: 2012-04-03 14:33:48
    The price of carbon emissions permits inside the EU’s emissions trading system has fallen to a record low. A sharp fall in total CO2 emissions in Europe has been the driving factor behind the fall in the carbon price. Last year Germany’s CO2 emissions fell by 1.2% and the UK saw a 7.2% reduction. The overall decline in the 27 country ETS was 2.4% in 2011 causing the carbon price to drop below 7 Euros per tonne.

  • Unit 1 Micro: Revision on Producer Subsidies

    Updated: 2012-04-03 06:32:54
    Here is a planned answer to an exam question on producer subsidies “Discuss the likely effects of a EU beef subsidy on the market for beef production in Wales”

  • Unit 4 Macro: Floating and Managed Floating Exchange Rates

    Updated: 2012-04-03 06:32:53
    Distinguish between a fixed and a managed floating exchange rate system

  • Unit 2 Macro: Revision on Real Economic Data

    Updated: 2012-04-03 06:32:52
    Why do economists often find ‘real’ figures to be of more use than ‘nominal’ or ‘money figures?

  • Unit 4 Macro: Unemployment Scarring Effects

    Updated: 2012-04-03 06:32:50
    In the past we have discussed some of the long term economic and social costs of a persistently high rate of unemployment and we have used the term hysteresis effects. It seems that a new term is being used to cover some of the consequences of millions of people being out of work - unemployment scarring - and this revision blog looks at some of the causes of this.

  • Unit 3 Micro: Post Office Threatens Smaller Photo Businesses

    Updated: 2012-04-03 06:32:49
    As the Royal Mail moves towards an initial public offering the business is searching for as many ways as possible of expanding their revenue base to maintain the viability of hundreds of local post offices. One service is the lucrative market for passport and driving licence photos - a product that I suspect has a fairly low price elasticity of demand, I paid £5 for 5 photos in a train station the other week! This Channel 4 news video looks at the battle between the Post Office and independent private sector photo retailers who claim the government is skewing the market against independent shops by giving the Post Office a contract to renew driving licences and threatening to do the same for passports.

  • Unit 2 Macro: Revision on Real Disposable Income

    Updated: 2012-04-03 06:32:47
    Real disposable income (RDI) measures income after taxes and benefits, adjusted for the effects of inflation. It is a guide to the quantity of goods and services that people can buy after the tax and benefit system has adjusted original incomes and we have made allowance for the effect of price changes.

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