It wasn’t a great week for the Coalition. First the Prime Minister made his much-awaited EU speech, which increased the levels of uncertainty for UK businesses just when they needed it least.
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Study resource for AS and A2 and IB economists
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Geoff Riley
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Scooped by Geoff Riley onto Developments in the UK Economy |
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Geoff Riley's insight:
One of the most vocal critics of Mervyn King's tenure at the Bank of England takes a swipe the economic pigmies in the treasury. Real wages have been falling since the start of the recession, for millions of people the pain of the downturn is clear from declining real living standards.
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The gap between rich and poor widened more in the three years to 2010 than in the previous 12 years, according to the OECD.
Geoff Riley's insight:
Consider the effects of rising inequality on UK economic performance
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Unemployment is a major source of unhappiness and mental ill-health.
Geoff Riley's insight:
For many years Professor Andrew Oswald has researched the links between home ownership levels and labour market performance. This new paper with David Blanchflower takes the debate forward - they argue that rising home ownership can bring about negative externalities for the rest of the economy, damaging labour mobility and curtailing new business start-ups. It is an argument worth looking at when we discover some of the structural causes of joblessness. Delete the scoop?
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Context – the size of the deficit
Geoff Riley's insight:
Looking at a couple of AS macro fiscal policy questions 
Marist Economics's curator insight,
May 14, 9:08 AM
A very topical issue- and therfore likely focus for essay question #econ2 Delete the scoop?
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Will Hutton: The UK needs massive structural reforms in the way companies are owned and managed, along with a revolution in innovation
Geoff Riley's insight:
Will Hutton argues for radical reform of banking in the UK and the way in which businesses are owned and managed. 
Paul Denton's curator insight,
April 28, 5:10 AM
Always worth consideration, Will Hutton poses some interesting questions 
Sdg's curator insight,
May 5, 1:34 PM
If you like will hutton's angle try one of his book's in the library. Delete the scoop?
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Chancellor to extend the flagship £80bn scheme to specifically target banks that lend to small businesses
Geoff Riley's insight:
Another development in the battle to get the fragile banking system to lend more to small and medium sized enterprises .... show awareness of Funding for Lending as part of monetary policy
Marist Economics's comment,
April 23, 5:16 PM
Altough interest rates are low, banks are not lending enough to businesses, thus stifling growth. This initiative aims to increase money supply in credit form so businesses can INVEST-> AD!
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Dean Baker: All because two famous economists whose work is used the world over to justify austerity cuts just got their sums wrong
Geoff Riley's insight:
One for ambitious A2 macro students who want to strengthen their evaluation on fiscal policy issues.
Sdg's curator insight,
May 5, 1:35 PM
Great follow up fro the Economist article we looked at last week Delete the scoop?
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Calls from business leaders to freeze the national minimum wage were rejected today by the Government which raised its level by nearly two per cent.
Geoff Riley's insight:
Minimum wage rises by less than inflation - a real terms cut. What impact does a minimum wage have on UK economic performance in the short and medium term? More revision notes here: http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-minimum-wage-and-inequality 
Mr Jones's curator insight,
April 17, 3:56 AM
A factor to consider when we conlude income inequality and poverty issues Delete the scoop?
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A market economy can be the greatest vehicle for wealth creation, but it can also wreak havoc. Margaret Thatcher gave Britain its first big lesson in both.
Geoff Riley's insight:
It would be hard to find and read a more thoughtful and relevant assessment of Thatcher's reforms than this - pure contextual gold dust for ambitious AS and A2 economics students.
Mr Jones's comment,
April 12, 4:21 AM
Great material which integrates the micro stuff we're going to do now with macro from #econ4
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The world's major economies will see stronger growth this year, but Europe's recovery will continue to be slow, the OECD says.
Geoff Riley's insight:
AS Macro students, consider what this might mean for the UK. How could you use the circular flow, AD-AS model to analyse the implications of the forecast. Delete the scoop?
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We look at how Britain's debt and deficit has changed under Conservative and Labour governments over the past four decades.
Geoff Riley's insight:
Background on the fiscal deficit and the national debt. More here: http://www.bbc.co.uk/news/business-21846044 ; 
Graham Watson's curator insight,
March 30, 5:18 AM
A great graphic from the Telegraph detailing the government's fiscal position over the last four decades. A very clear indication of how the budget balance has changed and the obvious implications of this for the national debt, and long-term interest rates and inter-generational equity and so on...
My economists should be familiar with all of these arguments by now; you've heard them often enough... Delete the scoop?
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Melvyn Bragg and his guests discuss game theory, the mathematical study of decision-making
Geoff Riley's insight:
Superb radio 4 programme on game Theory - excellent for A2 micro students Delete the scoop?
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With the UK expected to endure anaemic growth for years to come, what might be the radical options for getting the economy back on its feet? Delete the scoop?
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Ha-Joon Chang: The UK's problems go far deeper than the cuts agenda. It simply can't produce enough to revive its ailing economy
Geoff Riley's insight:
This is a terrific piece which looks at long term structural challenges facing the UK economy with a particular focus on the balance of payments. Delete the scoop?
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An age cap on accessing loans to set up a company should be removed, says the PM's enterprise adviser Lord Young, in a report into business growth.
Geoff Riley's insight:
Supply side policies to encourage busines start ups from people of all ages not just teenage geeks and new grads looking for alternative to corporate druge! Delete the scoop?
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Revision presentation on economic environment for UK businesses designed for AQA BUSS4 students, May and June 2013
Geoff Riley's insight:
Hopefully quite a few bits here that are relevant to students revising for their AS Macro paper Delete the scoop?
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John Van Reenen reacts to the news today that the UK has avoided economic contraction in the last quarter. Whilst Osborne may see this as cause to celebrate, there is nothing commendable about an e...
Geoff Riley's insight:
Really excellent analysis here that provides a critique of the coalition's fiscal strategy
Graham Watson's curator insight,
May 2, 7:12 AM
Rescooped via Geoff Riley, this response to the fact we missed a triple-dip recession showcases the considered analysis of John Van Reenen. As Has already been suggested: excellent analysis here. Delete the scoop?
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How the global financial crisis - which first touched the UK when Northern Rock collapsed in 2007 - led to a long downturn from which the country has still not recovered.
Geoff Riley's insight:
Pictoral overview of key moments in the UK economic cycle in recent years.
Revision notes on the economic cycle available here: http://www.tutor2u.net/economics/revision-notes/as-macro-uk-economic-cycle.html
Take an AS macro revision quiz on managing the economy here: http://www.tutor2u.net/economics/quizzes/as/managingtheeconomy1/quiz.html Delete the scoop?
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Leading economic thinkers admit they are still at a loss over what to do to save the world economy, Andrew Walker in Washington reports.
Geoff Riley's insight:
A2 evaluation here on the crisis in macro policy making and the challenges of driving a more durable recovery in growth Delete the scoop?
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Aditya Chakrabortty: Lots of people are wondering why the employment figures aren't worse, since we're in such a slump. Well, if you measure them properly, they are
Geoff Riley's insight:
Are you familiar with the difference between unemployment and underemployment? Both are important when discussing labour market policies, aggregate demand and economic growth. This is a good article to enhance your understanding. Delete the scoop?
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Shale gas could provide “great economic benefits” to the UK, BP chief executive Bob Dudley has said, suggesting it could help to bring down Britain’s high gas prices.
Geoff Riley's insight:
Dudley argues here that the investment environment for shale gas is much better in the US rather than the UK - why? what impact might shale gas exploration and extraction have for the UK in the years ahead? Can you analyse this using AD-AS diagrams?
Mr Jones's curator insight,
April 15, 11:19 AM
Economic growth and the environment at conflict again? Delete the scoop?
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In covers: Margaret Thatcher 1975 “She has courage, a quality in short supply in politics everywhere and which she thoroughly deserves to be rewarded for”. 1979...
Geoff Riley's insight:
Economist selection of front page covers featuring the late Margaret Thatcher Delete the scoop?
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Larry Elliott: George Osborne should worry – in 2012 the UK ran a deficit of £57bn, up from £20bn in 2011, and this is unlikely to change soon
Geoff Riley's insight:
Some dreadful balance of payments figures for 2012 underline the weakness of the UK export sector despite a competitive exchange rate. Has George Osborne effectively given up on re-balancing the economy towards manufacturing and exports and gone back to boosting the housing market? Delete the scoop?
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Geoff Riley's insight:
Consequences of an ageing population for the UK 
Hayley Bissenden's comment,
March 14, 5:27 PM
Corey which do you think is the most significant consequence of an aging population?
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Growing adult population has left employment rate 1.7 points down on 2008, according to Resolution Foundation
Geoff Riley's insight:
The standard media coverage focuses on the headline numbers out of work and the unemployment rate (% of the labour force). Would we be better emphasising the employment rate instead? Delete the scoop?
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In a £360 "Supa Dupa" pushchair, two children aged up to four years old are seated side-by-side, their brightly coloured leg covers adorned with big red bows or, for those destined to rule the playground, skulls and crossbones.
Geoff Riley's insight:
Patent boxes - a supply-side policy designed to strengthen incentives for businesses to engage in research and development? How effective will they prove to be? Which industries will benefit most? Will they have a sufficiently large impact to address the research and innovation gap in the UK? 
Sergey Yatsenko's curator insight,
April 26, 5:28 AM
Development of the UK with IP / Patents, Licenses /. Delete the scoop?
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Some interesting data on the 'achievements' of our current Chancellor. So much for young Eton boys running the show....
EW - Not an entirely fair article laying into George Osborne, it is only fair to consider that factors of Britain's economy do respond to Eurozone and other international conditions...
he is indeed inept