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Some articles to help understanding of Unit 3 Economics
Curated by Phil Hensman
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Stamp duty changes : How will they work?

Stamp duty changes : How will they work? | #ECON3 | Scoop.it
Phil Hensman's insight:

Analysis and evaluation of the redistribution of wealth. A key part of poverty and inequality.

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Oil Prices Set To Remain Lower On OPEC Split

Oil Prices Set To Remain Lower On OPEC Split | #ECON3 | Scoop.it
A meeting of the powerful OPEC cartel is tipped to maintain production levels despite pressure to raise prices through cuts.
Phil Hensman's insight:

A lovely example of when collusion breaks down and why.

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Mr Jones's curator insight, November 27, 4:01 AM
Fellow producers can producer monopoly power if they jointly agree to limit output. OPEC regularly finds this a difficult outcome to achieve
Edward Wilkinson's curator insight, December 18, 4:25 AM

OPEC split?????

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Germany backs law demanding at least 30% women in top boardrooms

Germany backs law demanding at least 30% women in top boardrooms | #ECON3 | Scoop.it

Labour Frauenquote - or women’s quotas - to be signed into law next month with firms required to implement the rule by 2016

Phil Hensman's insight:

Labour Market Failure: Using legislation to correct it, but what are the evaluation points?

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3D Printer Produces Revolutionary Robotic Hand

3D Printer Produces Revolutionary Robotic Hand | #ECON3 | Scoop.it
Prosthetic hands could soon become affordable thanks to a groundbreaking new technique using 3D printers and scanners.
Phil Hensman's insight:

Changes in technology and production methods. Dynamic Efficiency.

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Not-kia: One-Time Mobile Giant's Name Erased

Not-kia: One-Time Mobile Giant's Name Erased | #ECON3 | Scoop.it
Nokia branding is dropped from the latest Lumia phone after Microsoft bought the Finnish firm's phone division.
Phil Hensman's insight:

Market leaders can not always maintain that position.

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New payday loan rules to cap fees, total cost and default charges

New payday loan rules to cap fees, total cost and default charges | #ECON3 | Scoop.it
Financial Conduct Authority rules will reduce the cost for most borrowers, but debt campaigner Stella Creasy MP says the cap needs to be lower to change behaviour of lenders
Phil Hensman's insight:

The effects of regulation on a market, but try to evaluate and think of unintended consequences. 

What do the effects depend on?

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Heathrow and Gatwick expansion plans more costly than airports claim

Heathrow and Gatwick expansion plans more costly than airports claim | #ECON3 | Scoop.it
Airport commission says proposals will cost up to £3.4bn more than estimated, meaning higher fares for passengers are likely
Phil Hensman's insight:

Cost Benefit Analysis: Only works if the figures are accurate...

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Farmers to protest milk price cuts

Farmers to protest milk price cuts | #ECON3 | Scoop.it
Phil Hensman's insight:

Monopsony power from the supermarkets pushing down prices. A great example to use.

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Supermarkets launch petrol price cut

Supermarkets launch petrol price cut | #ECON3 | Scoop.it
Phil Hensman's insight:

Oligopolistic market; Interdependence, Bottom half of the kinked demand curve

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Duopoly: Vienna's chocolate cake war

Duopoly: Vienna's chocolate cake war | #ECON3 | Scoop.it
A look at the enduring rivalry between Vienna's two famous producers of the sachertorte chocolate cake.
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Rising inequality: Sunday Times Rich List shows rise in UK billionaires

Rising inequality: Sunday Times Rich List shows rise in UK billionaires | #ECON3 | Scoop.it
The number of billionaires living in the UK has risen to more than 100 for the first time, according to the 2014 Sunday Times Rich List.
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Food giant accused over cash request

Food giant accused over cash request | #ECON3 | Scoop.it
Phil Hensman's insight:

Using monopsony power over small suppliers to reduce costs. Who benefits? The monopsonist...

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Shared Parental Leave To 'Level Playing Field'

Shared Parental Leave To 'Level Playing Field' | #ECON3 | Scoop.it
Couples will have the right to divide 50 weeks off work between them in any combination they like under new rules from Monday.
Phil Hensman's insight:

Why do women get paid less then men? This appears to be an attempt to stop that

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Europe to vote on Google break-up

Europe to vote on Google break-up | #ECON3 | Scoop.it
Phil Hensman's insight:

Regulation of a monopoly: Is it effective? What power does the regulator actually have?

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The cocoa crisis: why the world’s stash of chocolate is melting away

The cocoa crisis: why the world’s stash of chocolate is melting away | #ECON3 | Scoop.it
It’s the world’s favourite sweet treat – and this week one of the industry’s biggest players warned that supplies could soon be running low. Guardian writers around the world report on the causes of the problem, from disease and crop failure to the rise of the chocolate crisp
Phil Hensman's insight:

Dynamic efficiency goes wrong, oligopolies, demerit goods.

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Giant robot trucks rise in Australia

Giant robot trucks rise in Australia | #ECON3 | Scoop.it
Phil Hensman's insight:

Technology changing production, reduction in demand for drivers, changes in the skills needed for operators.... 

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Sainsbury's To Cut Prices In Supermarket War

Sainsbury's To Cut Prices In Supermarket War | #ECON3 | Scoop.it
Sales and profits fall at the country's third-largest chain as it announces plans to tackle the hard discounter challenge.
Phil Hensman's insight:

Market contestability, Oligopolies, Barriers to Entry, SNP, Kinked Demand Curve...

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Low-paid workers unable to escape poverty trap - report

Low-paid workers unable to escape poverty trap - report | #ECON3 | Scoop.it
Only one in four workers who were low-paid in 2001 managed to move on to higher pay after a decade, says social mobility study
Phil Hensman's insight:

It's not just the unemployed that suffer from poverty....

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The death of the weekly shop

The death of the weekly shop | #ECON3 | Scoop.it
Phil Hensman's insight:

Brand loyalty, one of the keys to maintaining oligopolistic power, can be eroded away... Use this as an example of increasing contestability

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HP 'to split into two companies'

HP 'to split into two companies' | #ECON3 | Scoop.it
Hewlett-Packard is to split into two companies, separating its computer and printer business from its corporate hardware and services operations.
Phil Hensman's insight:

Large firms always best? Clearly HP don't think so...

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Thai tuna firm nets Norwegian rival

Thai tuna firm nets Norwegian rival | #ECON3 | Scoop.it
The world's biggest producer of canned tuna, Thai Union Frozen Products, is buying Norwegian seafood firm King Oscar for an undisclosed sum.
Phil Hensman's insight:

Growth of Firms:

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Change in technology affecting production methods: 3D Printer Used To Make Woman's Hip Joint

Change in technology affecting production methods: 3D Printer Used To Make Woman's Hip Joint | #ECON3 | Scoop.it
A 3D printer gives a 71-year-old woman the ability to walk unassisted following a "game-changing" procedure.
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Natural monopoly using SNP for dynamic efficiency: Severn Trent launches new technology to detect water leaks

Natural monopoly using SNP for dynamic efficiency: Severn Trent launches new technology to detect water leaks | #ECON3 | Scoop.it
Yesterday, as part of a water industry innovation event, Severn Trent Water and partner Echologics launched the LeakFinderST™, a new piece of technology that can find leaks no other leakage detection equipment can.
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