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US drug company hiked price of acne cream by 3,900% in less than 18 months

US drug company hiked price of acne cream by 3,900% in less than 18 months | #ECON3 | Scoop.it
Novum Pharma, bought the rights to Aloquin cream, which contains two cheap ingredients, in 2015 and almost immediately increased the price by 1,100%

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Phil Hensman's curator insight, September 22, 2:53 AM
SNP, R&D. Is this ok?
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Italy: Town pays people to cycle to work - BBC News

Italy: Town pays people to cycle to work - BBC News | #ECON3 | Scoop.it
Italian town is offering hundreds of euros per year to people who get on their bikes.

Via Phil Hensman
Dan Martin's insight:

Might be useful in the next couple of weeks I think!

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Phil Hensman's curator insight, November 20, 2015 3:04 AM

Promoting merit goods, discouraging demerit goods

K's curator insight, November 26, 2015 2:52 PM
A positive externality in the consumption of bicycles and bicycle related products in this Italian town, following the council paying people to cycle to work, is that there will be less air pollution meaning less global warming and respiratory problems from pollution for people living there.
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Horizontal Integration: Marriott agrees $12.2bn merger with Sheraton hotels owner

Horizontal Integration: Marriott agrees $12.2bn merger with Sheraton hotels owner | #ECON3 | Scoop.it

HorziontCash and stock tie-up between Starwood and Marriott will create world’s largest hotelier with 5,500 properties and more than 1.1m rooms


Via Geoff Riley
Dan Martin's insight:

Growth of firms and horizontal integration. Another great example for you to supplement the theory with.

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Geoff Riley's curator insight, November 16, 2015 5:05 PM

A BIG merger in the global hotel industry. Hotel group International is buying rival hotel chain Starwood Hotels for $12.2 billion. It'll now become world's largest hotelier. As usual, look behind the headlines for some of the cost and revenue synergies that the deal is "expected" to create. According to the Guardian article, the groups said the tie-up would provide substantial economies of scale. The transaction is valued at $72.08 per Starwood share, representing a premium of about 19% on the share price before the merger rumours surfaced. 

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Competition and Markets Authority Videos on Collusion

Competition and Markets Authority Videos on Collusion | #ECON3 | Scoop.it

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Geoff Riley's curator insight, November 18, 2015 12:00 PM

The Competition and Markets Authority has produced a series of short animated videos covering aspects of policy such as price fixing and market sharing/rigging. They are short introductions but together form a useful resource for this applied issue at A2.

Rebecca Clark's curator insight, September 21, 12:53 PM

COLLUSION!

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John Timpson: 'All the great retailers know their customers. Does M&S?'

John Timpson: 'All the great retailers know their customers. Does M&S?' | #ECON3 | Scoop.it

It’s time to put Marks & Spencer out of its misery, declared John Timpson. “Watching the decline of the once-great M&S is like seeing a well-known football team relegated from the Premier League.”


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Geoff Riley's curator insight, October 18, 2015 10:30 AM

This is brilliant and a must read for students of business economics. I love the upside down theory of management - put customers first and management at the bottom. And John Timpson is superb on the diseconomies of scale prevalent at bloated retail giants such as Tesco, M&S, Sainsburys and Morrisons. Timpsons is also a superb example to use of internal and external growth, rising revenues and profits despite a 90% fall in demand for shoe repairs since the 1960s. 

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Croatia just canceled the debts of its poorest citizens

Croatia just canceled the debts of its poorest citizens | #ECON3 | Scoop.it
"We assess that this measure will be applicable to some 60,000 citizens," Deputy Prime Minister Milanka Opacic was quoted as saying.
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Steven Beach on Twitter

Steven Beach on Twitter | #ECON3 | Scoop.it
#ECON3 Richest 20% of households average income= £81,300 15X greater than poorest 20%: average income= £5,500 see: pic.twitter.com/cxBVIJO8tF
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Beer giants AB InBev and SABMiller agree takeover terms

Beer giants AB InBev and SABMiller agree takeover terms | #ECON3 | Scoop.it
The world's two biggest beer producers are set to merge after SABMiller accepted an increased takeover offer from rival Anheuser-Busch InBev.

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Leila Brown's curator insight, October 22, 2015 4:44 AM

A2 Micro and A2 BUS4 - takeover example

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The economic benefits of fracking

The economic benefits of fracking | #ECON3 | Scoop.it
Innovations in drilling and hydraulic fracturing (“fracking”) have enabled tremendous amounts of natural gas to be extracted from underground shale formations that were long thought to be uneconomical. But has this shale gas boom translated in an economic boom? According to Catherine Hausman and Ryan Kellogg, who shared the first-ever estimates of broad-scale welfare and distributional implications of fracking as part of the most recent conference of the Brookings Papers on Economic Activity (BPEA), the answer is yes. Here’s why.
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pdeppisch's comment, June 9, 2015 10:17 AM
What about the environment / water pollution - that has a cost!
Bruce Fellowes's comment, June 9, 2015 1:57 PM
Very true. social costs and benefits v private costs and benefits
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Hydraulic Fracturing | Cuadrilla Resources

Hydraulic Fracturing | Cuadrilla Resources | #ECON3 | Scoop.it
Dan Martin's insight:

This is the company that operates the fracking test sites in the UK

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A2 Micro: Economics of £7 Minimum Wage

These slides are from our January 2014 revision workshops for unit 3 microeconomics. They focus on some of the arguments surrounding the possible introduction …
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Bruce Fellowes's curator insight, January 20, 2015 4:08 AM

Useful for AS students

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Train fares in Britain to rise by average of 1.1%

Train fares in Britain to rise by average of 1.1% | #ECON3 | Scoop.it
Campaigners say passengers will be ‘amazed’ at fare rises due to poor running of services in parts of the country

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Phil Hensman's curator insight, January 4, 3:26 AM

Regulation of price inelastic fares, but not price elastic.... Great evaluation of intervention

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Price Discrimination in Action: The future of personalised pricing

Price Discrimination in Action: The future of personalised pricing | #ECON3 | Scoop.it
As the blurring of the online and offline worlds continues, retailers must be transparent about the rise of targeted pricing

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Geoff Riley's curator insight, November 8, 2015 2:21 PM

A hat tip to Matt Smith for spotting this one and putting on his excellent twitter feed @EconomicsALevel 

 

This article from the Guardian will be a go-to resource when I start teaching the economics of price discrimination in a little while. Now more than ever businesses have the potential to harness information contained in digital profiles of customers to offer bespoke, personalised prices for different goods and services. The costs of market and consumer segmentation are coming down and this type of pricing behaviour is likely to become a more frequent occurrence in our daily lives.

 

Please do have a read and consider some of the efficiency and welfare implications of digital dynamic pricing.

Graham Watson's curator insight, November 8, 2015 4:42 PM

To lift Geoff Riley's insight in its entirety:

 

A hat tip to Matt Smith for spotting this one and putting on his excellent twitter feed @EconomicsALevel 

 

This article from the Guardian will be a go-to resource when I start teaching the economics of price discrimination in a little while. Now more than ever businesses have the potential to harness information contained in digital profiles of customers to offer bespoke, personalised prices for different goods and services. The costs of market and consumer segmentation are coming down and this type of pricing behaviour is likely to become a more frequent occurrence in our daily lives.

 

Please do have a read and consider some of the efficiency and welfare implications of digital dynamic pricing.

 

I don't have any more to add...

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Sunk costs: Redcar owner loses £530m on steel plant liquidation

Sunk costs: Redcar owner loses £530m on steel plant liquidation | #ECON3 | Scoop.it
The bankrupt Thai owner of the Redcar steelworks has said that it lost almost £530m from the liquidation of the Teesside steelworks.

Via Geoff Riley, Matt Smith
Dan Martin's insight:

Great example of sunk costs. Remember these are cost that can't be recovered if the firm leaves the market. Here the specialist machinery and equipment is no use outside steel production and given the state of the market no buyers seem likely for the surplus equipment.

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Geoff Riley's curator insight, November 17, 2015 1:19 PM

Sunk costs are costs that cannot be recovered if a business closes down a plant or leaves a market. This is a prime example for your economics notes.

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School uniform prices raised by supplier contracts, says CMA - BBC News

School uniform prices raised by supplier contracts, says CMA - BBC News | #ECON3 | Scoop.it
The cost of school uniforms has risen by up to £10 an item owing to the use of exclusive suppliers, according to the UK's competition authority.

Via BEEconomics
Dan Martin's insight:

Effect of a lack of competition in markets?

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Britain’s big banks set to avoid being broken up by competition watchdog

Britain’s big banks set to avoid being broken up by competition watchdog | #ECON3 | Scoop.it
18-month investigation also expected not to recommend an end to free bank accounts but to call for switching to be made easier

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Phil Hensman's curator insight, October 22, 2015 3:50 AM

Regulation

Dan Martin's curator insight, October 26, 2015 4:16 PM

A2 students - One for next half term when we investigate competition or the lack of in certain markets

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Novak Djokovic buys up annual supply of donkey cheese - Telegraph

Novak Djokovic buys up annual supply of donkey cheese - Telegraph | #ECON3 | Scoop.it
The entire annual production of the world's most expensive cheese made from donkeys' milk has been bought by the tennis player Novak Djokovic for his chain of restaurants.
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E-Commerce: Argos Intensifies the Battle with Same Day Delivery | tutor2u

E-Commerce: Argos Intensifies the Battle with Same Day Delivery | tutor2u | #ECON3 | Scoop.it
The battle for market share in the UK retail market has intensified with the launch by Argos of same day delivery across the UK for all of its most popular prod

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Geoff Riley's curator insight, October 7, 2015 3:48 AM

This is a terrific example to use of how non-price competition is intensifying in the increasingly contestable market for home deliveries of products ordered online. 

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Video: Beer giants AB InBev and SABMiller set to merge

Video: Beer giants AB InBev and SABMiller set to merge | #ECON3 | Scoop.it
The world's two biggest beer producers are set to merge after SABMiller accepted an increased takeover offer from rival Anheuser-Busch InBev.

Via Matt Smith
Dan Martin's insight:

Example of business growth

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Michael McCartney on Twitter

Michael McCartney on Twitter | #ECON3 | Scoop.it
Hotelling's Law #econ3 Leeds city centre pic.twitter.com/EFcDUXLFBK
Dan Martin's insight:

Remember this from our game theory/oligopoly lesson

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Sports Direct to open gym chain

Sports Direct to open gym chain | #ECON3 | Scoop.it

Via Geoff Riley
Dan Martin's insight:

Great example of non price discrimination here. Will a "cheap as chips" no frills gym attract enough customers?

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Geoff Riley's curator insight, November 12, 2014 5:42 PM

Budget lower-cost gyms - has their time arrived? Is there a sufficient gap in the health club / fitness membership market for commercial returns for players such as Sports Direct?

 

The brand is associated with low-priced, some might say bog standard sportswear. A wag once told me that Sports Direct is the sports shop of choice for people who don't actually play any sport!

 

I certainly won't be rushing to join even at these ultra-low monthly rates. What factors other than price differentiate gyms from each other? Your answers will reveal much about whether you understand the importance of non-price competition in imperfectly competitive markets.