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Latam "gang of four" scrap tariffs

Latam "gang of four" scrap tariffs | year 12 AQA economics | Scoop.it
Four countries in Latin America - Chile, Colombia, Mexico and Peru - have agreed to scrap most of the tariffs on trade between their four countries.

Via Geoff Riley
Mr Jones's insight:

The principle of specialisation and trade suggests that all involved can boost output (and thefore consumption) if any restrictions that discourage trading are removed.  If that is true for "George & Georgina" it is also true to countries who choose to reduce/remove the barriers to trade between them. This gives firms greater opportunities to export, but equally important can be the opportunities to set up production in those locations that favour them the most.

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Geoff Riley's curator insight, May 23, 2013 7:49 PM

A small step towards deeper economic integration - consider what this might mean for trade creation and trade diversion for the countries involved 

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AS Microeconomics Revision Advice (Revision Presentation)

AS Microeconomics Revision Advice (Revision Presentation) | year 12 AQA economics | Scoop.it
Revision presentation offering tips for improved exam performance in introductory microeconomics
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AS webinars 2015 - YouTube

AS webinars 2015 - YouTube | year 12 AQA economics | Scoop.it
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Nice tutor2u publish a series of excellent webinars (audio/video presentation) as revision help in the run up to the 2015 exams.  Clearly those labelled 'AS' primarily have the Yr12 exams in mind.

 

Also remember that A2 focussed presentations can be selectively used to help with your AS exam. For example 'A2 Economics Revision Webinar - Economic Growth in the UK' was used in our lesson on 30th April. The first 15 mins is particularly useful for influences on GDP

1 - Short run AD factors

2 - Short run AS factors

3 - Long run AS/growth rate factors.

3) is a crucial issue when considering the relative competitiveness of the home economy in an ever changing world context.  The interventionist/free market debate features heavily in this area of policy making.

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Meeting Exam Objectives in Chunky Paragraphs

Meeting Exam Objectives in Chunky Paragraphs | year 12 AQA economics | Scoop.it
Essay writing in an exam is a skill that can be honed and improved with practice. Writing in a succinct, clear style and with the exam objectives in mind will help you to score well without having...
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Zero inflation means lower interest rates for longer

Zero inflation means lower interest rates for longer | year 12 AQA economics | Scoop.it
Is the fall in inflation to a record low of zero good or bad for us?
Mr Jones's insight:

Historic week for the UK economy as our inflation rate according to the official CPI figure falls to 0%. As with unemployment, there is always some doubt in the accuracy/usefulness of the headline figure in terms of telling us everything we need to know about overall macro performance. Key to student success is an appreciation of which prices are rising and falling within this published average. This is equally true for the whole economy as it is for idividual households.

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Strong pound subdues manufacturing exports

Strong pound subdues manufacturing exports | year 12 AQA economics | Scoop.it
Export orders have fallen to their lowest in more than two years, the CBI says.

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Why Iceland banned beer

Why Iceland banned beer | year 12 AQA economics | Scoop.it

Via Phil Hensman
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Phil Hensman's curator insight, March 2, 2:46 AM

Regulation, externalities, market failure, government failure

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Touchcast New Player Design

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Great starting point if you want to get an overview of the crucial role that interest rates play in managing the macroeconomy.
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Obesity 'costing same as smoking'

Obesity 'costing same as smoking' | year 12 AQA economics | Scoop.it

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Phil Hensman's curator insight, November 20, 2014 2:07 AM

Negative Externalities in Consumption

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Donnison Cycle Helmets

Radio piece looking at compulsory helmet laws in Australia

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Phil Hensman's curator insight, December 17, 2014 2:36 AM

Using legislation to force the use of merit goods.

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Macro Revision - Aspects of Fiscal Policy

Macro Revision - Aspects of Fiscal Policy | year 12 AQA economics | Scoop.it
This is a revision presentation for AS Macro on aspects of fiscal policy in the UK.
Mr Jones's insight:

Comments on the 2015 Budget changes in the context of the debate surrounding the best use of fiscal policy.  What should be done about the still relatively large fiscal (government budget) deficit.

 

Word of warning - don't confuse the fiscal deficit with the trade deficit on the Balance of Payments....THEY ARE DIFFERENT DEFICITS!

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Big Issues facing The UK Economy in 2015 - YouTube

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Good hints on evaluation when writing on macro objectives for the UK economy
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Q&A: Inflation explained

Q&A: Inflation explained | year 12 AQA economics | Scoop.it
What is inflation, how is it calculated and why is the measure important. We explain all.
Mr Jones's insight:

"Every month the ONS collects more than 100,000 prices of goods and services from a wide range of retailers across the country - including online retailers.

Prices are updated every month and price collectors visit the same retailers each time in order to monitor identical goods and make sure they are comparing like with like.

All these prices are combined using information on average household spending patterns to produce an overall prices index.

 

It also takes into account how much we spend on different items.

So items are weighted - i.e. given more importance in the inflation indexes - according to how much we spend on them.

We typically spend more on fuel than on postage stamps, for example.

 

So a large rise in the price of petrol and diesel would affect the overall rate of inflation more, as it has a weight of 3.5% in the CPI.

Meanwhile a rise in the price of stamps is less likely to affect the overall index, as they have a weighting of 0.2%."

 

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New term needed for zero inflation and positive growth

New term needed for zero inflation and positive growth | year 12 AQA economics | Scoop.it
Do we need a new term to describe how economies are growing but inflation hardly exists?
Mr Jones's insight:

Linda Yueh makes a really important point:

 

"The Office for National Statistics (ONS) says the UK's record low 0% CPI has been driven by energy prices (motor fuels) falling 16.6% in the past year to February. It's also down to food prices, another sizeable imported commodity, which fell by 3.4%.

This means, though, that when volatile elements like energy and food are stripped out of CPI, core inflation is still positive at 1.2%. So, prices are rising and the economy isn't truly deflationary."

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Negative Externalities: Air pollution 'link to stroke risk'

Negative Externalities: Air pollution 'link to stroke risk' | year 12 AQA economics | Scoop.it
Air pollution is linked to an increased risk of stroke, a large global study in the British Medical Journal suggests.

Via Matt Smith
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Public Goods - Flood defence vital for farming

Public Goods - Flood defence vital for farming | year 12 AQA economics | Scoop.it
This short interview with a mustard farmer from the East of England is a useful primer when discussing the importance of smaller-scale, often localised infrastructure projects.
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The Current Account on the UK Balance of Payments - Explained - YouTube

This video explains why money moves around different countries. It looks at historical data on the UK's current account balance and on the flow of money into...
Mr Jones's insight:

Lovely little video presented by a young (ish) statistician at the ONS. Good coverage of the make up of the Current Account of the Balance of Payments with useful historical context.  Straightforward overview of the role of the Capital Account in funding the Current Account

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Mr Jones's curator insight, March 14, 8:50 AM

Great revision. Lovely little video presented by a young (ish) statistician at the ONS. Good coverage of the make up of the Current Account of the Balance of Payments with useful historical context.  Straightforward overview of the role of the Capital Account in funding the Current Account

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Interest Rates

Interest Rates | year 12 AQA economics | Scoop.it
Several useful links about this key aspect of monetary policy
Mr Jones's insight:

Good number of sources to help research interest rates world wide

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BT to buy mobile firm EE for £12.5bn

BT to buy mobile firm EE for £12.5bn | year 12 AQA economics | Scoop.it
UK phone giant BT agrees to buy the British mobile operator EE for £12.5bn, but rivals Vodafone and TalkTalk want the competition authorities to intervene.
Mr Jones's insight:
Big merger proposed. Audio suggests consumers need 4 rather 3 mobile networks. Contestability?
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Property sales reach seven-year high

Property sales reach seven-year high | year 12 AQA economics | Scoop.it
Property sales across the UK rose by 14% last year to 1.22 million, the highest number since 2007, official statistics show.
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Charging drunk patients in A&E wouldn’t sit right with my conscience

Charging drunk patients in A&E wouldn’t sit right with my conscience | year 12 AQA economics | Scoop.it
Making certain patients pay for emergency services might make night shifts better for doctors, but it is discriminatory, says Jason Sarfo-Annin

Via Phil Hensman
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Phil Hensman's curator insight, November 10, 2014 4:34 AM

Negative Externalities in Consumption: Should the problem causer be made to pay?

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Sticking Point: Gum Firms 'Must Fund' Clean-Up

Sticking Point: Gum Firms 'Must Fund' Clean-Up | year 12 AQA economics | Scoop.it
LBC

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Phil Hensman's curator insight, November 24, 2014 3:11 AM

Internalising the externality? - Negative externality in production - Getting the firm to pay, even though it is the consumer causing the problem.

Dr Koestle-Cate's curator insight, November 24, 2014 10:49 AM

This will be very useful later, when we look at market failure in Micro.