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India overtakes China as world's fastest growing major economy

India overtakes China as world's fastest growing major economy | AS & A2 Micro | Scoop.it

GDP growth in India hits 7.3% at the end of 2015 and will rise to as high as 7.6% in 2016


Via Graham Watson
Econly's insight:

Short or Long Run trend? What are some of the keys factors that will determine this?

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Graham Watson's curator insight, February 8, 11:43 AM

A number of commentators have always regarded India as likely to outgrow China in the 21st century, largely as a consequence of its more favourable demographics. However, for now India will simply be happy to be outgrowing its better-known rival.

 

It's clear that certain sectors of the Indian economy are doing well, however, equally, it wouldn't be correct to say that this is universal. Furthermore, the creaking state of Indian infrastructure and a comparative lack of FDI, relative to China might impede its development in the years ahead.

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UK Macro Outlook: Why UK interest rates could stay lower for longer than you think

Markets expect the Bank of England to start raising rates from early next year. In 3 years Bank Rate is expected to be 1.5%. While possible, it is not inevitable


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Geoff Riley's curator insight, November 5, 2015 4:23 AM

Some superb macro analysis here from the economics team at RBS. Inflationary pressures are now - more than ever - aligned with global (external factors) and with long-term pressures on cost and price inflation staying muted, we could be waiting a deal longer for the first UK policy rate hike. What price rates staying below 2% between now and the end of 2017? 

Graham Watson's curator insight, November 5, 2015 4:33 AM

If you want top notch analysis from people at the top of the profession, look no further. This comes direct from RBS Economics as an 'amuse bouche' if you will.

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Scots using 650m fewer plastic bags since the 5p charge - BBC News

Scots using 650m fewer plastic bags since the 5p charge - BBC News | AS & A2 Micro | Scoop.it
The Scottish government says shoppers are using 650m fewer plastic bags since the introduction of a 5p charge for single use carrier bags a year ago.

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Graham Watson's curator insight, October 20, 2015 6:41 PM

What a picture! That will draw them in: but the clip itself, looking at the introduction of the plastic bag tax in Scotland is diverting in looking at how the 5p charge has reduced the number of bags used.

 

Who knew that the demand for single use carrier bags was so price elastic?

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The three things holding women back at work

The three things holding women back at work | AS & A2 Micro | Scoop.it
When companies try to improve their gender diversity they tend to look at policies such as childcare and flexible working, they should be looking at their culture and beliefs instead

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Graham Watson's curator insight, September 1, 2015 1:17 PM

Teaching in a all-boys school, this sort of article is important for my pupils to read. It looks at the issue of inequality in labour market outcomes but from a perspective that they might not be familiar with, that of women.

 

It makes a number of valid points that the best way of solving the problem is by changing social attitudes but the problem with this is that it takes time and largely comes about organically, without undue government interference. However, it is possible that individual actions can make a difference in this instance.

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Poundland’s green light proves the value of talking to shoppers

Poundland’s green light proves the value of talking to shoppers | AS & A2 Micro | Scoop.it
Competition watchdog belatedly realised it was a good idea to understand the modern high street before ruling on takeover of 99p Stores

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Graham Watson's curator insight, August 26, 2015 5:49 AM

This Graham Ruddick piece is nicely judged highlighting the fact that, at its best, microeconomic issues are often best conceptualised by actually talking to economic agents, and hands-on analysis, rather than reliance on models alone.

 

Good for the Competition and Markets Authority (CMA) in reversing its original Phase One judgement: anecdotally, I can tell that it makes sense. Consider this: Poundland in Winchester sells packets of fruit bars and raisins that are snacks for my two children for £1. So what does Sainsbury's 100 yards up the row start to do?

 

Well, recently it's launched a few 'guerrila' type price cuts of its own on these sorts of items and has, on occasion, even undercut Poundland. If that's not competition in action I don't know what is!

 

One consideration though - is there perfect information in this market? And is its acquisition 'costless' or near to costless? And how might this affect market outcomes?

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High frequency trading - generating negative externalities? CNN interview

High frequency trading - generating negative externalities? CNN interview | AS & A2 Micro | Scoop.it
High speed trader turned whistleblower David Lauer explains why he left the industry and how certain practices at computerized trading firms negatively affec...
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AS Micro - Merit Good?! - More breastfeeding 'worth millions'

AS Micro - Merit Good?! - More breastfeeding 'worth millions' | AS & A2 Micro | Scoop.it

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Appetite for loans 'picks up again'

Appetite for loans 'picks up again' | AS & A2 Micro | Scoop.it
The amount of new borrowing through personal loans has outstripped repayments every month this year, figures from UK banks indicate.

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Graham Watson's curator insight, September 23, 2014 6:30 AM

If borrowing is picking up, this implies that aggregate demand is on the rise, and this is a good thing for growth. This might get you thinking about the factors that determine consumption levels; interestingly, a recent paper in the BoE Quarterly Bulletin looked the influence of household debt on consumption.

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Saudi Arabia slashes oil output to defend $100 price - Telegraph

Saudi Arabia slashes oil output to defend $100 price - Telegraph | AS & A2 Micro | Scoop.it
World's biggest exporter of oil reacts to slide in prices by trimming 400,000 barrels per day of output in August

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Graham Watson's curator insight, September 10, 2014 3:57 PM

Some elementary D&S analysis with a nod towards the fact that OPEC operates a cartel. However, at the moment, the fact that oil prices have dropped below $100 per barrel is a concern. It reduces producer revenues because the demand for oil is inelastic and as a consequence it increases the likelihood of the cartel breaking up. However, Saudi Arabia is the dominant player in the cartel and in cutting its output it is trying to prop up both prices and the cartel.

Ana Maria Ichim's curator insight, September 12, 2014 6:07 AM

Quantitative restrictions, supply

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Innovate or die: The stark message for big business

Innovate or die: The stark message for big business | AS & A2 Micro | Scoop.it
Big companies often find it difficult to innovate, stymied by short-termism and a fear of risk taking. But if they don't, oblivion beckons.
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Raising the Minimum Wage: A McDonald's-Killer, Not a McJobs-Killer

Raising the Minimum Wage: A McDonald's-Killer, Not a McJobs-Killer | AS & A2 Micro | Scoop.it
A new paper finds that fast-food restaurants are more likely to close when the minimum wage increases. The good news? New ones swoop right in to take their place.

Via Josh Kettell
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Lampton Economics's curator insight, February 11, 2014 5:18 PM

HK: i disagree with this because if minimum wage increase , people would want to get emplyed as they would earn more per hour therfore they would apply anywhere they think its possible to get a job.

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Market Failure and Government Failure in One Go

Market Failure and Government Failure in One Go | AS & A2 Micro | Scoop.it
A lovely clip from last night's Channel 4 News highlights both issues - and points you towards the welfare implications of both. This would make a lovely example for any of you facing examination questions which are asking for an evaluation of government intervention in the market. .
Econly's insight:
Econ 1 As tutor2u says, this is a good example of market failure (information failure because of the selective publication of drug research findings by pharmaceutical company manufacturing the drugs). Ben Goldacre's book Bad Pharma goes into huge detail on this industry-wide issue. Have a go at questions on the tutor2u page.
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AS Micro - Negative Externality: Should we pay for plastic bags?

AS Micro - Negative Externality: Should we pay for plastic bags? | AS & A2 Micro | Scoop.it

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Steel is suffering like coal once did: but Cameron will not oppose China

Steel is suffering like coal once did: but Cameron will not oppose China | AS & A2 Micro | Scoop.it
America has imposed massive tariffs, but Britain’s courtship of Beijing may leave British steelmakers with no protection

Via Graham Watson
Econly's insight:

Steel: free trade or protect it?

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Graham Watson's curator insight, February 15, 8:44 AM

This is an interesting article - principally because of the rot that it talks: " Tata needs a helping hand if it is to continue as the main custodian for Britain’s steel industry". Run that by me again: an Indian company which owns an industry that is being out-competed by cheaper imports requires protection. Eh?

 

Furthermore, "The group received a small boost last week from the Indian government...by slapping minimum tariffs on steel imports from China and South Korea."  Now there's a first-best solution right there. Apart from the fact it's not.  

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Are big mergers bad for consumers? - BBC News

Are big mergers bad for consumers? - BBC News | AS & A2 Micro | Scoop.it
This year is set to be a record for company mergers. They're usually good for the companies involved - but how do they affect the consumer?

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Graham Watson's curator insight, November 1, 2015 4:29 PM

An excellent summary of the implication of the current year's mergers - or integration, as we economists prefer. It is estimated that this year's mergers will be the most valuable in history - weighing in at a whopping £2.7 trillion. What's perhaps more surprising is the heterogeneity in the 'boardroom' pictured above...

 

However, it's worth bearing in mind that 'all that glitters is not gold', that if something is 'too good to be true', it usually is and that mergers rarely turn out as many people expect not least the merged firms themselves. I offer you Daimler-Chrysler for starters...

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Global poverty is falling, but not as fast as you may think - Humanosphere

Global poverty is falling, but not as fast as you may think - Humanosphere | AS & A2 Micro | Scoop.it
A graphic showing the rapid decline of global poverty over the past 100 years is making the rounds as evidence that the world is getting better. While tech

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Ex-Sainsbury's boss Justin King slams National Living Wage - BBC News

Ex-Sainsbury's boss Justin King slams National Living Wage - BBC News | AS & A2 Micro | Scoop.it
Justin King, the former chief executive of Sainsbury's, says the National Living Wage will "destroy jobs".

Via Graham Watson
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Graham Watson's curator insight, August 29, 2015 3:37 AM

Adding to the voices critical of the Living Wage, Sainsbury's former chief executive, Justin King suggests that it's going to destroy jobs and thus it is a nonsense. I'm not as opposed to it as Mr.King because labour markets are dynamic, not static, and ceteris paribus conditions rarely apply.

 

Perhaps a more interesting argument about the Living Wage is argued by the general secretary of the TUC, Frances O'Grady who sees the possibility of there being unintended consequences of the move. The Living Wage only applies to people over 25; she is worried about firms looking to recruit younger staff to circumvent having to pay the Living Wage.

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McDonald's UK boss says zero-hours contracts are fair - BBC News

McDonald's UK boss says zero-hours contracts are fair - BBC News | AS & A2 Micro | Scoop.it
The new boss of McDonald's UK tells the BBC that zero-hours contracts are fair because they help staff stay flexible.

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Graham Watson's curator insight, August 26, 2015 5:39 AM

This is another thought-provoking piece: my answer to the notion that the new boss of McDonald's thinks zero-hour contracts are fair is that he would say that wouldn't he. And yet, like the PM in the televised election coverage, I'm sure he wouldn't want to be employed on one.

 

That apart, lots to ponder: tax issues, the living wage, the negative externalities of fast food consumption and so on. As for eating at McDonald's two or three times a week - yes, a macrobiotic salad at his desk in McDonald's HQ perhaps; Big Mac and fries. I doubt it.

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"60 Minutes" investigates high-frequency trading - YouTube

"60 Minutes" investigates high-frequency trading - YouTube | AS & A2 Micro | Scoop.it
"60 Minutes" correspondent Steve Kroft revealed Sunday night how a few stock market insiders are making billions in high-frequency trading. Kroft spoke with ...
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AS Micro - Market Failure: Obese lose up to eight years of life

AS Micro - Market Failure: Obese lose up to eight years of life | AS & A2 Micro | Scoop.it

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Black hole in UK public finances widens in August - Telegraph

Black hole in UK public finances widens in August - Telegraph | AS & A2 Micro | Scoop.it
Borrowing increases in August, as across the board increase in tax receipts offset by higher government spending

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Graham Watson's curator insight, September 23, 2014 6:32 AM

After yesterday, I'm expecting a lengthy piece from Jeremy Warner detailing Chancellors who fail to keep pre-Election pledges regarding the public finances at this juncture. Not.

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What Gangnam Style represents in opportunity cost terms

What Gangnam Style represents in opportunity cost terms | AS & A2 Micro | Scoop.it
Here’s a light-hearted one! What could we have had instead of 2 billion views of Gangnam Style?The Economist ponders that question..
Econly's insight:

Superb!

 

 

 

 

 

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Marist Economics's curator insight, August 18, 2014 11:17 AM

Opportunity cost is such a useful concept in economics- here's a fun way to measure time spent watching YouTube video in terms of foregone alternatives...

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A2 Micro - Labour Market Failure: Percentage of graduates working in non-graduate jobs has risen - ONS


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Labour creates storm in a coffee cup over Waitrose loyalty scheme - FT.com

Labour creates storm in a coffee cup over Waitrose loyalty scheme - FT.com | AS & A2 Micro | Scoop.it
The Labour party has accused Waitrose of stealing trade from small high street shops by giving a million free coffees and newspapers to its customers every week. In its latest salvo against big business, Labour said the myWaitrose loyalty scheme was

Via Geoff Riley
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Geoff Riley's curator insight, March 1, 2014 2:35 AM

Fair competition? should Labour start attacking businesses who also provide free tea and coffee for their employees?

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No smoke without ire: the e-cigarette revolution

No smoke without ire: the e-cigarette revolution | AS & A2 Micro | Scoop.it
All new behaviours raise complex questions of etiquette. The sudden ubiquity of e-cigarettes – electronic substitutes for the cancer sticks of old – is challenging our assumptions about where it is appropriate to "smoke". More than a million people are using them in the UK and, according to Bloomberg, on present trends they will outsell conventional cigarettes by 2047. So is it OK to "fire up" in an office? In a restaurant? In a hospital bed?
Econly's insight:

Econ1

 

Airlines, train companies, the University of London and even pub chain Wetherspoons have banned e-cigarettes but opinion is divided.

 

What are the social costs and benefits associated with e-cigarettes?

 

What are the private costs and benefits?

 

What are the options for government intervention in this market.

 

Weigh up the pros and cons of your top 2 intervention types.

 

 

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