One of the big ideas of the time is the notion of a Universal Basic Income (UBI). In this case, the Royal Society for the Arts (RSA) is proposing that the government should offer each under 55 year old a £10,000 basic income, but in accepting it, any individual concerned would lose their tax allowances.
Proof of the dynamic nature of the Chinese economic growth miracle. Dongguan used to be a labour-intensive manufacturing base synonymous with the label Made in China. Now it is fast becoming the new home of Chinese robotics.
In this recording of our recent revision webinar we look at why maintaining financial stability has become increasingly important for UK policy-makers in the aftermath of the Great Recession that followed the Global Financial Crisis. We have broken the webinar content into four short video segments.
Here's this week's economics news quiz. Good luck!
Hats off to the Bank of England for producing this excellent article on pay for professional footballers. A super resource to use when teaching pay differentials in the labour market.
Examiners love good examples of contestable markets where emerging rivals disrupt the market power of established firms. Aldi and Lidl are continuing to grow rapidly. Lidl has recently opened its 700th store in the UK.
Kenya has developed a comparative advantage in growing and processing cut flowers. Kenya is the largest supplier of cut flowers to the European Union & flower farming accounts for about 40% of all horticultural exports.
This is a quite superb article for students wanting a great example of an increasingly contestable market - namely transatlantic travel. Can the fast-growing Norwegian Airlines achieve commercial sustainability in a battle against established rivals? They have just announced a hefty loss for 2017.
The Phillips Curve traces the relationship between pay growth on the one hand and the balance of labour market supply and demand, represented by unemployment, on the other. It has been a staple part of macroeconomic theory for many years. Students often encounter the Phillips Curve concept when discussing possible trade-offs between macroeconomic objectives.
Here is a suggested essay plan for this question: "Evaluate the possible microeconomic and macroeconomic impact of a decision by the EU/UK to impose a tariff on imports of Chinese steel."
This reference section brings together a curation of study resources on crypto currencies such as Bitcoin.
This video looks at a possible answer to this question on financial market failure. "Evaluate the micro and macroeconomic policies that might be used to correct financial market failures in the UK economy."
In this video we look at building an answer to a synoptic 25 mark essay question (Edexcel) on the micro and macro effects of an increase in house-building in the UK economy.
Here are the slides and videos from our revision webinar covering some aspects of Brexit relevant to A level economics students. In particular there is a focus on synoptic connections to micro and macro consequences.
This is a brilliant story, though it may do Sainsbury's reputation no favours. Two cards, looking pretty much identical, one 'For my husband' and one 'For my wife'. All very cute - but why would the For my husband one cost 25% more than the other? It's a great question for students to discuss - what might cause a difference in the PED of the different market segments?
Here's this week's economics news quiz. Good luck!
A Half Term Hat Tip to Pete Shelley for spotting this enrichment piece from BBC Radio on the economic policies of Donald Trump.
“Pork barrel” has been a theme in American politics for almost as long as the United States has existed. Many members of Congress work hard to secure public works projects, agricultural subsidies and the like for their own districts, almost regardless of the economic arguments for and against.
This FT clip looks at the post-Brexit options facing the UK, arguing that advisers are looking at whether it might be possible to enter a customs union with the EU.
Traffic data firm Inrix has released a report attempting to detail the impact of road congestion in the UK. Their 2017 Congestion scorecard is available here. According to their statistics, the average UK driver spent 31 hours stuck in traffic last year. The report indicates particular hot spots - with the big cities of London, Birmingham and Manchester appearing alongside places such as Lut...
A new study from the IFSof the causes of the persistent gender pay gap in the UK focuses on the impact of working part-time has on career and wage progression for females.
Whilst the seems mired in a Brexit-inspired political morass, a number of Balkan countries are taking important steps towards accession to the European Union. EU enlargement is back on the agenda for the remaining 27.
More excellence in the Guardian with Larry Elliott seeing the opening of Amazon Go in Seattle as a foretaste of things to come. He argues that automation is unstoppable and that we need to think about how were going to adapt to it.
This video from the Wall Street Journal explores the rising demand for industrial robotics, particularly in China which is in turn partly the response to fast-rising wages in China as the economy reaches the Lewis Turning Point.
Sky News is certainly making an effective contribution to the debate over plastic packaging. There is no such thing as the throwaway society - because plastic waste doesn't go away.
This is a vivid and powerful four minute read on the negative externalities from copper mining in Zambia and the story of one man growing up in what rapidly became one of the most polluted places on the planet.
Ed Glaeser often makes the point that introducing early the user-pays principle into infrastructure investment is a key part of the infrastructure jigsaw especially in developing countries. This short video focuses on a new toll road connecting Dakar to its suburbs which has created new jobs and reduced journey times. There are numerous positive multiplier effects at work along the highway....
Here is a short matching terms quiz on aspects of market failure. Who can come top of the leaderboard?
If, like me, you have been enjoying the recent adverts by online estate agency Purplebricks (apologies to anyone who only streams content these days, TV advertising must seem very yesterday) you may have noted that the company has been hit by criticism recently from market watchdogs (see report here). Analysts at Jefferies have provided some evidence that Purplebricks may be over-stating their ...
Here's this week's economics news quiz. Good luck!
Blog | Impact of further automation on jobs is uneven throughout the UK - 'Higher or Lower' activity
A report released by think tank 'Centre for Cities' has suggested that the impact of job losses from continued automation in the UK economy will not be felt equally around the country. The report suggests that those towns or cities which have a lower proportion of highly-skilled jobs are more at risk from job losses as the growth in the use of robotics and AI continues. The report also draws ...
BBC Newsnight investigates the data mining that goes on in unearthing crypto-currencies. I'm still trying to get my head around all of this!
Rogoff is interviewed here on fragility in the financial system and the risks posed by higher interest rates in the USA and Europe. And then there is China ....
Some comparative analysis of European energy use, with the UK seeing a 9% reduction in use over the last seven years, as the rest of the EU is still seeing rises. There were a number of reasons posited for this including slower economic growth in many Euro Zone countries, mild weather and increased energy efficiency.
The story of the banana is a remarkable one: the whole commercial global banana crop can be traced back to a particular Cavendish banana tree that originate at Chatsworth House in Derbyshire, and this makes it susceptible to disease.
Here is an example of a student essay on this title: "The rise of the Gig Economy is beneficial to businesses, workers and the UK economy as a whole." Discuss.
This webinar looks at synoptic issues surrounding ageing economies. How will ageing affect productivity, innovation, competitiveness, growth and the future of the welfare state?
This week, Google have added their name and support to the Universal Stylus Initiative (USI) - a group of major tech companies attempting to get everyone to adopt a universal set of protocols when creating the styluses used to interact with tablets and touch-screen computers. Currently, there is no standard hardware specifications for a stylus in the same way that, say, USB ports or Bluetooth c...
Here's a 10 question multi-choice quiz on topics related to Business Economics. In this 'Lockdown' format, each question has four possible answers - however, each answer is revealed one at a time. Players must select what they consider the correct answer as soon as it is revealed to score higher points. Good luck!
I think that many A level students would agree that QE can be quite hard to get their heads around. It's a help when they realise that it is not a process of 'printing money', as many journalists have described it since 2009. So is it a help to see it as a Magic Money Tree?
A group of independent bookshops are considering joining forces in an attempt to be more competitive. The plan, led by the Big Green Bookshop based in London, is to create a purchasing union that acts cooperatively to ensure better deals when negotiating prices and supply from major publishers and authors. More details can be found from this Guardian article.
Here is a great example of a Year 12 student essay written on the impending sugar tax in the UK.
The annual rate of CPI inflation for the UK economy was 3.0% in the twelve months to December 2017. The number itself makes the headlines but what other questions could we build around it to broaden the discussion and improve evaluation?
This is a regularly updated curation of study resources on the economic crisis in Venezuela.
A rather remarkable bit of data from China - smartphone sales are down in the world's largest smartphone market. Has the market reached saturation point? And if so, does this mean that consumers are simply going to trade-up rather than buy new phones?
Horizontal integration in the US beverage market with Keurig Dr Pepper hoping to have access to "unrivalled distribution capability to reach virtually every point-of-sale in North America".
Shaking the Magic Money Tree broadcast on Radio 4 looked at the effect of Quantitative Easing on the UK economy. Is it possible to disaggregate its effects, and did it advantage some over others.
Here is a selection of resources for students preparing an essay on: " Using your own knowledge, evaluate the microeconomic and macroeconomic influences on income inequality in two developing / emerging market countries of your choice."
We simply had to cross post this from the Business Blog! A stunning three minute video following the production process of the Heinz baked bean factory in Wigan Lancashire which can supply up to 3 million cans each day.
The platform economy business AirBNB has had a major effect on the hospitality sector of numerous cities around the world. The widespread assumption is that AirBNB offers cheaper accommodation than full service hotels - is this true?