Zeitgeist 2012: Year In Review
Updated: 2012-12-31 23:25:23
2012 was a remarkable year in many ways and this three minute video from Google in my view brilliantly captures many dramatic and significant moments- 2012 was a remarkable year in many ways and this three minute video from Google in my view brilliantly captures many dramatic and significant moments
Unit 3 Micro: Revision Advice for the Exam
Updated: 2012-12-31 23:25:23 Here are slides from a streamed presentation on approaching the A2 unit 3 micro paper.Top Posts of 2012
Updated: 2012-12-31 18:56:00| Peter Klein | It’s been a wild and crazy 2012, with the continued global recession, new developments and trends in strategic management and entrepreneurship research and practice, the resurgence of the Austrian school, and perhaps the most exciting worldwide event of 2012, the publication of the Foss and Klein book. We have an exciting [...]Economics & Business News Quiz - 31 December 2012
Updated: 2012-12-30 23:23:43 To celebrate the end of another fun-packed and unpredictable year in the Economics & Business news, here are 10 questions on 2012.This quiz is also ideal for playing using Zondle TeamPlayLaunch Economics & Business News Quiz - 31 December 2012Unit 4 Macro: Professor Justin Lin: how do developing economies grow?
Updated: 2012-12-30 15:23:15 I am linking in this blog to some of the ideas and arguments contained in "The Quest for Prosperity" the new book on economic development from Professor Justin Lin - in particular the case he makes for the need for a new development economics - devel econ 3.0! Behavioural Economics - Slides from a Short Course
Updated: 2012-12-29 19:56:21 I ran a short optional course in aspects of behavioural economics last term and this streamed presentation contains some of the slides from a few of the sessions. I enjoyed teaching it - this is a part of the subject that really ought to have greater prominence in the AS / A2 syllabus and students enjoy researching some of the potential practical applications of ideas drawn from behavioural in addressing economic and social problems and issues. Click on the behavioural economic blog category - here - for more teaching resources.Unit 4 Macro: Global Development - 2012 in Pictures
Updated: 2012-12-28 19:54:59 The Guardian provides a feast of visual images covering some of the leading economic development stories of 2012. Their Global Development Blog is a superb resource and well worth following if you are studying or teaching global development as part of your course. Here is the link to their main blog.Unit 4 Macro: Emerging economies in 2013 - Easterly and Moyo in Debate
Updated: 2012-12-28 11:54:16 This 34 minute debate features Professor Bill Easterly and Dambisa Moyo - looking at prospects for emerging countries in 2013 Unit 4 Macro: Britain’s Future in the European Union
Updated: 2012-12-28 03:53:39 There has been plenty of discussion in recent weeks about whether Britain might seriously start to consider leaving the European Union? Here is a selection of news pieces and discussion videos on the vexed question of UK membership.The Fiscal Cliff Explained
Updated: 2012-12-28 03:53:36 A superb short video here from Chris Lockwood at the Economist which explains the background to the Fiscal Cliff and the policy options being considered. Unit 4 Macro: OECD World Economic Outlook
Updated: 2012-12-28 03:53:34 The OECD's world economic outlook is published twice and year and is a heavyweight publication with plenty of great relevant macro for ambitious A2 students. I have linked below to their latest report - including a streamed presentation on their key data forecasts and emphasis on some of the underlying challenges facing OECD countries.Unit 4 Macro: How mobile phones promote economic development
Updated: 2012-12-27 04:16:25 I am linking here to a lecture given recently at the Royal Society of Engineering by Tom Standage from the Economist. Unit 4 Macro: Brazil - economic slowdown continues
Updated: 2012-12-27 04:16:22: Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Sociology IB Diploma Law Religious Stds Management History Geography Physics Give It a Go Other Blogs Contact tutor2u tutor2u News Buy Resources Facebook Page tutor2u on Twitter 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 Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog Give It A Go BlogUnit 4 Macro: EdExcel Unit 4 Macro Exam Topic Tracker
Updated: 2012-12-26 20:15:40 This blog tracks question topics on the EdExcel Unit 4 macro paper. It will be updated as soon as possible after each exam session.Unit 3 Micro: DropBox - Network Economics and Market Contestability
Updated: 2012-12-25 20:14:13 Here is a superb blog from the Economist magazine into a digital business built around the Freemium pricing model and where network effects are strong. Also good for understanding market contestability and the impact of new entrants on profit margins. Dropbox is my preferred file sharing system, I am pretty much locked in and wouldn't change!Freemium is a business model in which some basic services are
provided for free, with the aim of enticing users to pay for additional,
premium features or contentThe complete guide to freemium business modelsEdExcel Economics Unit 3 Micro - Structured Question Topic Tracker
Updated: 2012-12-23 20:45:15 Question topics covered in the Unit 3 structured multiple choice exam s for EdExcel have been as follows:Market Failure (Alcohol Fraud) - Evaluation
Updated: 2012-12-23 12:44:48 Quickmemes for Academics
Updated: 2012-12-23 05:31:42
| Peter Klein | True confession: I love quickmemes. Yes, I know, they’re juvenile, most are silly, and more than a few are vulgar. But they make me laugh, sometimes uncontrollably. What about versions for academics? We could have Success Prof, Overly Attached Coauthor, Successful Grad Student, Sheltering Suburban Department Head, and so on. I’ve [...]A2 Micro: From PFI to PF2
Updated: 2012-12-22 20:43:18: Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Sociology IB Diploma Law Religious Stds Management History Geography Physics Give It a Go Other Blogs Contact tutor2u tutor2u News Buy Resources Facebook Page tutor2u on Twitter 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 Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog Give It A Go BlogDon’t You Want Me Baby? - competition regulation in action
Updated: 2012-12-22 20:43:17 Apologies for the reference in this Blog’s title to the Human
League’s 1981 Christmas number one single – it betrays my age. I’m sure if you come to use this example of
competition regulation and contestability you will use something much more
contemporary. nbsp;The back catalogue of all
of the Human League songs of that era, along with many thousand more recent
songs (such as those of Take That and Duffy) have just been bought by BMG – one
of the world’s largest music publishing groups. BMG have purchased these rights from Universal who have been forced to
sell them as part of their own takeover of EMI earlier in 2012.Price elasticity of demand - soft drinks vs fruit and vegetables.
Updated: 2012-12-21 01:24:08 It's not always easy getting some good examples of price elasticity of demand figures so the results of this comprehensive study into food pricing and health should be useful, not only for elasticity but also for market failure. Virtual Seminar with Benito Arruñada – Reminder
Updated: 2012-12-20 19:07:11| Lasse Lien | 2013 will get a flying start here at O&M. Wednesday the 3rd of January we will kick off a virtual seminar over former guest blogger Benito Arruñada’s new book, Institutional Foundations of Impersonal Exchange (Chicago UP). Here are some reasons you should log on and join the discussion: The book deals with [...]Less Globally Connected Than Before?
Updated: 2012-12-20 17:23:21 The financial crisis has ad implications for all reas of economic life; however, ne of the most profound has been on international trade. This is encapsulated in the fantastic lobal Connectedness Index compiled by DHL - ho, given their coverage of the globe are pretty well placed to observe changing trends in globalization. Nassim Nicholas Taleb - Anti-Fragile
Updated: 2012-12-20 17:23:19 In this edition of Meet the Author, the BBC's Nick Higham talks to the Lebanese-American author and former derivatives trader Nassim Nicholas Taleb about his new book, Antifragile: How to Live in a World We Don't Understand.More reading here on Taleb's new bookSeven rules of anti-fragility (Farnham Street Blog)Learning to love volatility Unit 4 Macro: The Rise of Resource Nationalism
Updated: 2012-12-20 17:23:18 In many countries, resource nationalism has become more frequent in recent years, indeed it has been one of the key stories in 2012 as several countries have introduced new resource taxes, natural resource licence reviews and expropriation of assets from private sector companies. This Financial Times news video looks at the trends including resource nationalism within countries as provinces and regions look to exert great control on the revenues from oil, gas and mining projects.See also: Economist: Foreigners beware - oil and mining in IndonesiaResource insecurity: New report from Chatham HouseInteractive resource: New political economy of natural resourcesUnit 4 Macro: Growth from Thailand to Turkey
Updated: 2012-12-20 17:23:15 Drawing on data from the December 2012 World Bank Database, this Guardian data resource looks at growth and development indicators for six fast growing countries over the period 2007-2011. The countries are hile, Ghana, Indonesia, Mexico, Thailand and Turkey, looking at child mortality, university enrolment, mobile phone subscriptions and the numbers of tourists arriving to analyse the 'boom'Click here for the resourceYou See the Apocalypse, I See a Profit Opportunity
Updated: 2012-12-20 15:23:15
| Peter Klein | Game theorists often discuss finitely repeated games by asking, “What if both parties know the world ends in period T?” If the principle of backwards induction holds, then I suppose no Mayans have been able to achieve cooperation in a repeated prisoners’ dilemma game for thousands of years — both parties [...]Monopsony Exam Paper Markscheme- By Popular Demand!
Updated: 2012-12-18 18:23:23 OK, as it seems the markscheme to go with my recent blog post is in popular demand, I've made it available online.Unit 4 Macro must-read - Development Economics: Why is Liberia’s development so slow?
Updated: 2012-12-18 18:23:22: Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Sociology IB Diploma Law Religious Stds Management History Geography Physics Give It a Go Other Blogs Contact tutor2u tutor2u News Buy Resources Facebook Page tutor2u on Twitter 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 Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog Give It A Go BlogPaul Mason’s The Great Spanish Crash
Updated: 2012-12-18 18:23:20 Here's last night's fascinating look at the economic tragedy taking place in Spain right now. Still a week left on iPlayer.Deloitte - Christmas Reading List!
Updated: 2012-12-18 18:23:18 Many thanks to our good friend Ian Stewart, Chief Economist at Deloitte for sharing this eclectic festive selection of reading, all of which is online! His Monday Morning Briefing is a delight to have in my inbox every week! Just type Deloitte Monday Briefing into Google and the right link will appear for a free sign up - it comes highly recommended!Unit 3 Micro: Top Firms Target the Rich
Updated: 2012-12-18 18:23:16 The most innovative and productive firms send their exports to the world’s richest countries. That is the central finding of research by Rosario Crinò and Paolo Epifani, published in the latest issue of the Economic Journal. Their analysis of a representative sample of Italian manufacturing firms suggests that what firms produce – and how they produce it – is closely related to where they sell it.Review Paper on Prospect Theory
Updated: 2012-12-18 15:18:14| Peter Klein | We haven’t been entirely kind to behavioral economics, but we certainly recognize its importance, and have urged our colleagues to keep up with the latest arguments and findings. A new NBER paper by Nicholas Barberis summarizes the literature, focusing on prospect theory, and is worth a read. Thirty Years of Prospect Theory [...]Monopsony in the Supermarket Industry- Exam Questions
Updated: 2012-12-17 00:26:00 The other day I asked my year 13 Economists, which topics they wanted to revise before heading off for the Christmas holidays. Monopsony came up as being something they'd found particularly difficult recently, and so I've created some example exam questions to hopefully improve their understanding of this topic.TILEC Workshop on “Economic Governance and Organizations”
Updated: 2012-12-15 22:00:14| Peter Klein | The Tilburg Law and Economics Center (TILEC) is organizing a very interesting workshop on ” Economic Governance and Organizations,” 6-7 June 2013 in Tilburg. The core themes revolve around governance mechanisms — legal, contractual, social, etc. — that can address social dilemmas (free riding). Keynote speakers are Luis Garicano, Henry Smith, Henry Hansmann, and Guido [...]Unit 4 Macro: The effect of immigration on wages and prices
Updated: 2012-12-15 16:23:19 Immigration lowers the wages of relatively low-skilled native employees in sectors of the service economy that hire bigger shares of foreign workers. But the cost reductions that employers enjoy from lower wages are typically passed on to consumers: price inflation is much higher for services with no change in immigrant employment than for services where immigrant employment is growing.These are among the findings of research by Professors Bernt Bratsberg and Oddbjørn Raaum, published in the latest issue of the Economic Journal. Their study confirms that there are clear winners and losers from labour migration: low- and semi-skilled workers face increased competitive pressures on their wages and employment while consumers enjoy more services at lower prices.Economics Christmas Quiz
Updated: 2012-12-14 15:13:27 It's that time of year when students are badgering teachers for 'fun' Christmas lessons!Well, I used this quiz today with two of my AS groups and it worked really well. Unit 1 Micro: Rent Controls - Evaluating Government Intervention
Updated: 2012-12-14 15:13:25 Here is a streamed revision presentation on rent controls in the housing market - designed for AS micro students.Unit 4 Macro: A Very European Christmas
Updated: 2012-12-14 15:13:23: Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Sociology IB Diploma Law Religious Stds Management History Geography Physics Give It a Go Other Blogs Contact tutor2u tutor2u News Buy Resources Facebook Page tutor2u on Twitter 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 Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog Give It A Go BlogUnit 4 Macro: Student visa restrictions may curb growth and innovation
Updated: 2012-12-14 15:13:22: Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Sociology IB Diploma Law Religious Stds Management History Geography Physics Give It a Go Other Blogs Contact tutor2u tutor2u News Buy Resources Facebook Page tutor2u on Twitter 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 Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog Give It A Go BlogPaul Ormerod: Bankers, Greens and the Barking Mad: When Prophesy Fails
Updated: 2012-12-13 16:55:16 Forecasts of the end of the world have an even worse track
record than predictions in economics. Some
followers of the Mayan calendar believe the world will end next week.
But we have been here before. In 1956, an American group, led by a suburban housewife, believed that a
catastrophic flood would destroy the world on a specific date. Concealing his true identity, a leading
American social psychologist, Leon Festinger, had joined them several months
previously. When the flood failed to
happen, he noted that, far from abandoning their beliefs, the members became
even fervent in their view that the world was about to end.Deck the Halls with Macro Follies
Updated: 2012-12-13 08:54:41 The people that put together the Keynes vs Hayek raps have come out with a video that addresses an important question at this time of year - should we be spending up big on Christmas presents in order to stimulate the economy?Unit 2 Macro: Unemployment in a Recession
Updated: 2012-12-13 00:54:21 Here is a film of the Royal Economic Society's annual
public lecture 2012 by Nobel laureate Professor Chris Pissarides Self Regulation and The Hobbit
Updated: 2012-12-13 00:54:19 Unit 3 Micro: Strong Medicine - the Economics of Big Pharma
Updated: 2012-12-12 16:53:48 This excellent and timely half hour BBC Radio 4 programme from last week covers some key concepts in the A2 course. Peter Day, in fine form, quizzes Big Pharma on a range of topics including the role of patents in the industry and the future implications now that many are coming to their end, why firms find it difficult to prevent resale thus making price discrimination difficult plus he talks to the CEO of small start up looking to take on the incumbents in an industry which surely must be regarded as being of low contestability. Well worth a listen!New Governor New Target New Policy?
Updated: 2012-12-12 16:53:47 The next Governor of The Bank of England Mark Carney has
raised the possibility that The MPC might target GNP rather than inflation. Carney in one of his final speeches at The Bank of Canada, implies that Central banks should be
prepared to ditch inflation targets in the event of sluggish growth and instead
set themselves the task of raising national output.Unit 4 Macro: Tax Changes to Boost Growth
Updated: 2012-12-12 16:53:45 Reducing the income tax rate and increasing the
inheritance tax rate could induce a huge increase in UK GDP, according to
research by Professors Alberto Alesina and Guido Cozzi and Dr Noemi Mantovan,
published in the latest Economic Journal (December 2012)Unit 3 Micro: Tesco Goes West - Failure in the USA
Updated: 2012-12-12 08:53:13 This ten minute video is ideal for students of business economics. It covers the nside story of Tesco's launch in the US under the brand name Fresh 'n Easy. Business Professor Michelle Lowe of Southampton University was given unprecedented access to the company to study their entry into the US marketWeb-Savvy Profs
Updated: 2012-12-12 03:27:08
| Peter Klein | I’m #57 on a new list of Top 100 Web-Savvy Professors. Teppo smokes me at #19, but I’m right up there with Clay Christensen, Noriel Roubini, Austan Goolsbee, Richard Thaler, and other luminaries. I don’t know the group behind the list or how the ranking was compiled, but it looks good to [...]Unit 3 Micro: Market Power and Pricing Power
Updated: 2012-12-11 05:45:52 Here is a streamed version of a revision presentation on market power and pricing suitable for Unit 3 micro studentsComplementaries in the Age of the App
Updated: 2012-12-11 05:32:23| Peter Klein | Josh Gans asks if “we have yet evolved to the right set of institutions in the app economy,” comparing contracts between app developers and distributors/publishers to those between book authors and publishers. He also notes, correctly I think, that app development may have more to do with signaling programming skill than [...]EU Economy Update - Teacher Charts
Updated: 2012-12-10 13:44:45 Keeping up to speed with the latest macro developments in the EU econmy is never easy! am making my constantly updated main chart room on developments in the European Union economy available for use by teachers. If you would like to share this resource lease email me nd I will send you a link to a drop box folder . Sharing via dropbox means that every time the data is refreshed (usually once a week) you will access to the very latest figures covering a vast array of macro indicators.UK Economy Macro Update - Teacher Resource
Updated: 2012-12-10 13:44:43 I am making my constantly updated main presentation on developments in the UK economy available for use by teachers. If you would like to share this resource please email me and I will send you a link to a dropbox folder (the file size is around 11mb). Sharing via dropbox means that every time the data is refreshed (usually once a week) you will access to the very latest figures covering a vast array of macro indicators. Unit 1 Micro: Markets and Market Failure Concept Glossary
Updated: 2012-12-10 13:44:42 An A-Z glossary for the Unit 1 Micro courseRevision for AS Economics Unit 1 (Micro)
Updated: 2012-12-10 13:44:40 If you are revising for your Unit 1 micro economics paper here are some revision resources to help you on your way:Enrichment Economics - Recommended Reading for Student Economists
Updated: 2012-12-10 13:44:38 Seven new entries make it into my selection of thirty books designed to enrich, challenge and stretch able and ambitious students of our great subject. The Perfect Christmas Tree
Updated: 2012-12-08 16:32:16| Peter Klein | Looking for the perfect holiday gift for that special someone? Lots of friends and family on your Nice List? Get them a book from your favorite O&M authors. If you really want to show your love, get the whole bunch! Links and ordering information are on the right-hand sidebar on the O&M [...]Workplace Discrimination
Updated: 2012-12-08 03:24:13Username Passw Forgot your password Not a member Please register tutor2u Economics Business Stds Politics Sociology IB Diploma Law Religious Stds Management History Geography Physics Give It a Go Other Blogs Contact tutor2u tutor2u News Buy Resources Facebook Page tutor2u on Twitter 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 Blog Study Notes Quizzes Blog Study Notes Strategy Blog Strategy Theory Marketing Blog Marketing Theory Finance Blog Finance Theory History Blog Geography Blog Give It A Go BlogThe build up to Christmas - Amazon style!
Updated: 2012-12-07 19:23:16 The images below give an idea of the scale of resources at Amazon's disposal. They're from one of their "Product Fulfillment Centres", huge warehouses/distribution centres, the like of which last year "2.1m items were shipped in the space of 24 hours" in the build up to Christmas in the UK. BBC video on Amazon's distribution system Against Scientism
Updated: 2012-12-06 18:13:55| Peter Klein | Hayek defined “scientism” or the “scientistic prejudice” as”slavish imitation of the method and language of Science” when applied to the social sciences, history, management, etc. Scientism represents “a mechanical and uncritical application of habits of thought to fields different from those in which they have been formed, and as such is [...]Great Smog!
Updated: 2012-12-05 13:03:21 No logos, no branding, but…
Updated: 2012-12-05 05:02:55 Michael Owen's blog piece on Saturday highlighted recent changes in smoking legislatiion in Australia, and noting the end of the branded cigarette packet. However, this hasn't meant a shift in favour of drab olive, or khaki packets. All you can drink?
Updated: 2012-12-04 02:48:10