Bathgate Academy Politics and Economics
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Bathgate Academy Politics and Economics
News feed for students of Higher Politics and Higher Economics
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Calls for a shorter working week – ‘new’ Economics or same old fallacy?

Calls for a shorter working week – ‘new’ Economics or same old fallacy? | Bathgate Academy Politics and Economics | Scoop.it
Economists like to talk about fallacies – arguments that fall apart when you look at them closely. One such fallacy is the ‘lump of labour’ delusion.
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Mainstream economics is in denial: the world has changed

Mainstream economics is in denial: the world has changed | Bathgate Academy Politics and Economics | Scoop.it
Aditya Chakrabortty: Despite the crash, the high priests of economics refuse to look at the big picture – and continue to prop up the world's elites
Mr Nelson's insight:

Good background article on potential shifts in economic thinking.

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Is Britain’s economic recovery for real?

BBC Newsnight explores the latest UK growth data and holds a discussion about the durability and nature of the upturn in economic fortunes. Excellent background for evaluating this crucial stage of the cycle..
Mr Nelson's insight:

We may watch this at the start of Unit 2.

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Intra-national trade

Intra-national trade | Bathgate Academy Politics and Economics | Scoop.it
The concept of gains from trade is of fundamental importance to economists. But don't be fooled into thinking that gains from trade are limited to international trade.
Mr Nelson's insight:

Very useful for Unit 3

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Royal Mail was worth £10bn, said JP Morgan. It sold for £6bn less

Royal Mail was worth £10bn, said JP Morgan. It sold for £6bn less | Bathgate Academy Politics and Economics | Scoop.it
Investment bank gave valuation before flotation, as unions accuse government of 'conspiracy against taxpayer'
Mr Nelson's insight:

Remember this the next time you lose 6p, 60p or even £6 at work. People can get away with 'losing' £6bn of public money.

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Clegg lashes out at 'thin-skinned' Alan Sugar

Clegg lashes out at 'thin-skinned' Alan Sugar | Bathgate Academy Politics and Economics | Scoop.it
Nick Clegg hit back at Alan Sugar today, after the Apprentice star issued a series of abusive tweets at the deputy prime minister.
Mr Nelson's insight:

Clegg v Sugar. Oooh, listen to you...Someone hold their jackets, please. Pathetic, really - the sort of thing you see in the Quad most days.

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Unit 2 Macro: Ten Charts on Unemployment

Key changes in the labour market are important in understanding developments in the British economy. Here is a selection of ten updated charts on unemployment designed as a teaching resource for colleagues covering the Unit 2 macro course.
Mr Nelson's insight:

And the other side of inflation is...unemployment

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Unit 1 Micro: Chinese Get into a Froth over Starbucks Prices

Where would you expect a Starbucks latte to be cheaper - in a coffee store in downtown New York or in a Starbucks store in China? Keep in mind that per capita incomes in China are around one tenth of those in the United States.
Mr Nelson's insight:

Why are lattes so expensive in Beijing?

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Jeremy Hunt and his magic numbers

Jeremy Hunt and his magic numbers | Bathgate Academy Politics and Economics | Scoop.it
Jeremy Hunt has invented a problem which he can fix with a solution which does not fix the problem he has invented.
Mr Nelson's insight:

Can government create 'monsters'? Can they manipulate numbers to shw there really is a problem? Is that what is going on here?

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John Major stuns No 10 with call for windfall tax on energy companies

John Major stuns No 10 with call for windfall tax on energy companies | Bathgate Academy Politics and Economics | Scoop.it
Former Tory leader urges need for compassion, saying it is unacceptable for poor to face choice between heating and eating
Mr Nelson's insight:

The Grey Man of British Politics suddenly causes problems for his own party after an age of silence.

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Google earnings up 12% in third quarter even as Motorola losses deepen

Google earnings up 12% in third quarter even as Motorola losses deepen | Bathgate Academy Politics and Economics | Scoop.it
The company also reported an increase in users' clicks on advertisements, with a decrease in cost to marketers per click
Mr Nelson's insight:

How to make money from the Web....

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UK inflation rate unchanged at 2.7%

UK inflation rate unchanged at 2.7% | Bathgate Academy Politics and Economics | Scoop.it
The UK's inflation rate remained at 2.7% in September, official figures show, as a fall in fuel prices was offset by upward pressure from air fares.
Mr Nelson's insight:

Important topic for Unit 2

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Unit 3 Micro: Twitter - Growing Revenues to cut Losses

Monetizing a product is essential for a business to survive and ultimately prosper. This BBC news article outlines in a clear way the revenue channels that Twitter is using - it is still losing more than $1 a week despite a surge in revenues.
Mr Nelson's insight:

Good article on Twitter - relevant read for Higher Economics, may be of interest to everyone else.

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The parliament gym: is a ripped MP worth the fitness subsidy?

The parliament gym: is a ripped MP worth the fitness subsidy? | Bathgate Academy Politics and Economics | Scoop.it
Should taxpayers really be spending up to £250,000 helping our politicians feel the burn?
Mr Nelson's insight:

How do you like your MPs? Well toned?

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Time to stop this pretence - economics is not science - Telegraph

Time to stop this pretence - economics is not science - Telegraph | Bathgate Academy Politics and Economics | Scoop.it
The Nobel prize for economics remains separate from the main prizes, and so it should, as the namesake was a scientist and economics is categorically not
Mr Nelson's insight:

Is Economics a Science?

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Tory MPs to make formal complaint to Speaker Bercow

Tory MPs to make formal complaint to Speaker Bercow | Bathgate Academy Politics and Economics | Scoop.it
Senior Conservative MPs plan to make a formal complaint to John Bercow amid suggestions the Speaker personally "hates" David Cameron.
Mr Nelson's insight:

Was Cameron right to refer to Miliband as a 'con man'? Was Bercow right to ask him to wothdraw the comment as 'unparliamentary'?

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Economics students aim to tear up free-market syllabus

Economics students aim to tear up free-market syllabus | Bathgate Academy Politics and Economics | Scoop.it
Undergraduates at Manchester University propose overhaul of orthodox teachings to embrace alternative theories
Mr Nelson's insight:

If you got fed up with the all the models of arcane theory in Unit 1, you are not alone...

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Unit 2 Macro: Ten Charts on the UK Economic Cycle

Here is a set of ten charts on aspects of the UK economic cycle and growth story for recent years - designed as a possible teaching / handout resource for teachers on an AS macro course.
Mr Nelson's insight:

Very useful for the initial parts of Unit 2

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Unit 2 Macro: Ten Charts on UK Inflation

If you are teaching inflation as part of the AS macro course, here are ten charts that focus on recent changes in the consumer price index and related inflation measures. Useful perhaps as handouts for class discussion and annotation.
Mr Nelson's insight:

Very useful for Unit 2 - UK Economy

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Major intervention sees Cameron get a drubbing at PMQs

Major intervention sees Cameron get a drubbing at PMQs | Bathgate Academy Politics and Economics | Scoop.it
David Cameron endured one of his worst PMQs as prime minister today, after Ed Miliband used John Major's demands for an energy windfall tax to push the Conservatives into a vulnerable position on the issue.
Mr Nelson's insight:

Possibly Cameron's worst performance since he became PM.

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May admits it: 'Go home' vans were a bad idea

May admits it: 'Go home' vans were a bad idea | Bathgate Academy Politics and Economics | Scoop.it
The government's controversial 'racist van' scheme has been permanently scrapped after just one person was persuaded to leave the country.
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Inflation: different impacts on different people

Inflation: different impacts on different people | Bathgate Academy Politics and Economics | Scoop.it
How bad is inflation? Like any good answer, your response to this question will include an element of evaluation, probably wrapped up in a sentence containing the phrase
Mr Nelson's insight:

Great article on inflation - very useful for Unit 2

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Supreme Court judge lashes out at European court for prisoner voting

Supreme Court judge lashes out at European court for prisoner voting | Bathgate Academy Politics and Economics | Scoop.it
A Supreme Court judge has lashed out at a European Court of Human Rights (ECHR) judgement forcing the UK to allow prisoners to vote, in an unusual legal attack.
Mr Nelson's insight:

We study the Supreme Court in some detail in the next unit. This is being called a 'landmark decision' already.

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You Work For Them

You Work For Them | Bathgate Academy Politics and Economics | Scoop.it
Surplus value is the difference in value between the product and the wages paid to the labourer who produced the product, as Marx defined it.
Mr Nelson's insight:

Although this is an Economics article, it's also very useful for Higher Politics as we're currently looking at Marx's ideas.

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