Macro - AS & A2
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Low copper prices cripple Zambian towns - BBC News

Low copper prices cripple Zambian towns - BBC News | Macro - AS & A2 | Scoop.it
How life is getting harder in Zambia's copper mining towns.

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Global Pre-release - How life is gettting harder in Zambia's Copper Belt.

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Graham Watson's curator insight, February 12, 5:27 PM

This clip looks at the impact of the Chinese slowdown on the global copper price and, by default, the economic fortunes of Zambia's Copperbelt. The town of Kitwe, the capital of the region has been particularly adversely affected.

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Development needed? Just give cash - Tim Harford

Is this the most effective development programme in history?” asks Chris Blattman, a political scientist at Columbia University. He adds, “I think it’s a contender.”


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Geoff Riley's curator insight, November 1, 2015 1:07 PM

A great article to read / print out from Tim Harford on the perennial debate about the effectiveness and value for money of development aid interventions. 

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Angus Deaton: A Skeptical Optimist Wins the Economics Nobel - The New Yorker

Angus Deaton: A Skeptical Optimist Wins the Economics Nobel - The New Yorker | Macro - AS & A2 | Scoop.it
John Cassidy on Angus Deaton, the Princeton professor who was just awarded the 2015 Nobel Prize for economics.

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Geoff Riley's curator insight, October 18, 2015 6:42 AM

This is one of those articles that I would like all of my student economists to read! "if you are clear about the theoretical assumptions you are making, and you are careful—very careful—about how you interpret the data, economics can provide a powerful tool with which to analyze and improve the world." 

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In Peru water is a high price for Lima's poor

In Peru water is a high price for Lima's poor | Macro - AS & A2 | Scoop.it
One of the cruellest insults of inequality in Peru's capital Lima is how expensive it is for the poor to get clean water.

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Geoff Riley's curator insight, October 9, 2015 5:07 AM

Those in deepest poverty in Peru pay way more for each litre of water than the rich. Extreme poverty is absent in Peru if the World Bank data is to be believed. The reality on the ground tells a different story. 

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Latin America braces for higher US rates - FT.com

Latin America braces for higher US rates - FT.com | Macro - AS & A2 | Scoop.it
The days of Latin American economies basking in the glow of high commodity prices, cheap cash and rampant Chinese demand appear to be over.
Econly's insight:
Nice article, highlighting argument that LATAM countries will be unequally affected in event of repatriation of capital flow back to US and other western economies, if/when interest rates rise. Those countries that have got their house more in order during the commodity supercycle of the last 15 years via stronger institutions, more sensible fiscal rules via investment of the proceeds of the good times into supply side policies etc will be less exposed to this capital outflow risk.
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A2 Macro Pre-Release Extract 5: The Effects of Economic Globalization on Developing Countries

A2 Macro Pre-Release Extract 5: The Effects of Economic Globalization on Developing Countries | Macro - AS & A2 | Scoop.it
Financial and industrial globalization is increasing substantially and is creating new opportunities for both industrialized and developing countries. The largest impact has been on developing ...

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Bank of England warning over current account deficit

Bank of England warning over current account deficit | Macro - AS & A2 | Scoop.it
FPC fears financial markets may turn against UK economy in time of stress as gap between money paid out and money brought in was 50% higher than expected

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Graham Watson's curator insight, April 7, 2015 9:11 AM

The Bank of England's Financial Policy Committee (FPC) has raised an educated eyebrow at the size of the current account deficit, noting that it represents a net outflow that is high, both relative to our trading partners and also by historical standards.

 

The Guardian makes the most of this with a classic piece of journalese: "Some economist"; the unattributed quote is, of course, used to attack the Chancellor's economic record. 

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A glimpse into a future of UK deflation - FT.com

A glimpse into a future of UK deflation - FT.com | Macro - AS & A2 | Scoop.it
The postwar era has been staggeringly inflationary compared to the more distant past. When I was in my early teens in the 1970s, my mother kept a cupboard stuffed with goods such as coffee and sugar. She bought them when there was an offer, or she
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Great article on relative merits of inflation v deflation. Key downside risk of deflation today on countries UK is increasing debt burden, particularly when they are already so highly indebted.

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Has David Cameron really created 1,000 jobs a day?

Has David Cameron really created 1,000 jobs a day? | Macro - AS & A2 | Scoop.it
Reality check: the headline figures the PM quotes mask the rise of zero-hours contracts, self-employment, and low pay

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Graham Watson's curator insight, March 31, 2015 12:10 PM

The secret's in the subtitle of the piece "Reality Check" - yes, jobs have been created but largely in low paid sectors and the rise in zero-hour contracts and self-employment are a concern.

 

The Prime Minister suggested that zero-hour contracts were good for students - I wonder whether he's aware of what proportion of workers on these contracts are students and whether or not they're in favour of them.

 

Anecdotally, a friend who works for A4e, is sceptical - Redcar doesn't need quite as many window cleaners as it now has...

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A2 Macro Pre-Release Extract 5 - Aspects of Globalisation (tutor2u 2015)

Revision presentation on aspects of globalisation - presented in March and April 2015

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A2 Macro Pre-Release Extract 2: Competitiveness - MUST READ

A2 Macro Pre-Release Extract 2: Competitiveness - MUST READ | Macro - AS & A2 | Scoop.it
Competitiveness is the ability of an economy to compete fairly and successfully in markets for internationally traded goods and services that allows for rising

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A2 Macro Pre-Release Extract 4: Globalisation - Intra Regional Trade MUST READ

A2 Macro Pre-Release Extract 4: Globalisation - Intra Regional Trade MUST READ | Macro - AS & A2 | Scoop.it
Intra-regional trade happens when trade in goods and services happens inside a specific region of the world economy such as sub-Saharan Africa or the member nat

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A2 Macro Pre-Release Extract 5 - Stiglitz on globalization - why globalization fails


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Weak States, Poor Countries

Weak States, Poor Countries | Macro - AS & A2 | Scoop.it
The absence of state capacity – that is, of the services and protections that people in rich countries take for granted – is one of the major causes of poverty and deprivation around the world. Unfortunately, the world’s rich countries currently are making things worse.

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More or Less, Foreign Aid: More Harm Than Good?

More or Less, Foreign Aid: More Harm Than Good? | Macro - AS & A2 | Scoop.it
Nobel Prize winning economist professor Angus Deaton on a lifetime measuring inequality.

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Geoff Riley's curator insight, October 20, 2015 5:27 AM

Tim Harford interviews Nobel Prize winning economist professor Angus Deaton about a lifetime measuring inequality (9 minute interview)

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Why emerging economies are slowing down

Why emerging economies are slowing down | Macro - AS & A2 | Scoop.it
As the IMF and World Bank meet in Peru, economics correspondent Andrew Walker looks at how emerging economies have been slowing down.

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Geoff Riley's curator insight, October 9, 2015 5:04 AM

A longer background piece from Andrew Walker - a really clear exposition about the underlying cyclical (and some structural) causes of slower growth in many emerging countries. Recommended reading for A2 economists (#econ4) and also ambitious and curious AS economists

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Future of the euro | FT Comment - YouTube

Martin Wolf reviews ‘Europe’s Orphan’ by Martin Sandbu


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Graham Watson's curator insight, August 27, 2015 5:02 AM

This is an excellent introduction to the Euro crisis in historic context; I haven't read the book, but Martin Sandbu's central hypothesis seems sound and thus his prediction that the governments of Europe are going the wrong way about solving the Eurozone's problems is somewhat worrying.

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The austerity delusion | Paul Krugman

The austerity delusion | Paul Krugman | Macro - AS & A2 | Scoop.it
The long read: The case for cuts was a lie. Why does Britain still believe it?

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Graham Watson's curator insight, April 29, 2015 7:15 AM

If you want a more fleshed-out view of Paul Krugman's views on austerity, here's the link. Worth a read tomorrow I suspect; I won't have time today.

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A2 Macro Pre-Release Extract 5: Inequality - For richer, for poorer

A2 Macro Pre-Release Extract 5: Inequality - For richer, for poorer | Macro - AS & A2 | Scoop.it
IN 1889, AT the height of America’s first Gilded Age, George Vanderbilt II, grandson of the original railway magnate, set out to build a country estate in the Blue...

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The exchange rate is the most important price in our whole economy

The exchange rate is the most important price in our whole economy | Macro - AS & A2 | Scoop.it
If the pound has not fallen after the election the Chancellor should, within a revised policy framework, consider ways of getting it lower and keeping it there, says Roger Bootle

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Graham Watson's curator insight, April 6, 2015 6:09 AM

Never dull, Roger Bootle hints at the need to rethink the macroeconomic policy framework, and I think that there are grounds for this. However, to focus on exchange rates is something that I hadn't considered. Yes, the pound has appreciated, but is this a function of anything other than Euro weakness and - admittedly a longshot in the immediate term -  at some future date the pound will fall again.

 

I've also got some thinking to do about the effect of the strong exchange rate - Bootle seems to imply that it's played a part in the hollowing out of UK manufacturing and that with a weaker pound we'd have a more balanced recovery. I'm going to have to sit in a darkened room, flay myself with a damp rag and have a think about that suggestion...it's not one that I buy into immediately. But that doesn't mean it's wrong.

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India: At the coalface - FT.com

India: At the coalface - FT.com | Macro - AS & A2 | Scoop.it
A large, colourfully painted sign hangs above the entrance to the depths of Jhanjra, the largest underground mine in West Bengal’s Raniganj coal belt. The left side shows Indian mining as it once was, with roughly drawn cartoon figures wielding
Econly's insight:

Interesting FT article which makes the mind wander around the limitations to, and conflicting priorities in, economic development, and on the impact of protectionism.

 

Coal India - India's state-backed monopoly (and largest miner in the world employing 350,000 staff) - isn't digging coal quickly or efficiently enough to meet the ravenous demand of Indian consumers and businesses. The government has to import coal to make up the shortfall and subsidising these costs isn’t sustainable. So it has set targets to boost production by 2020, accepting critics' view that this must be done if India is to become a global manufacturing powerhouse.

 

Will it suceed in doing this and how? Will allowing FDI in with its more efficient capital, and opening up the sector be a better development solution than the current state of affairs with Coal India? Or is the limiting factor to coal output the country’s business and physical infrastructure?

If India does succeed, obviously the trade off is all the negative externalities associated with worsening air pollution. Is there are better development strategy?

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It will take 100 years for the world’s poorest to earn $1.25 a day

It will take 100 years for the world’s poorest to earn $1.25 a day | Macro - AS & A2 | Scoop.it
The sustainable development goals will aim to eradicate poverty by 2030 but our current economic model, built on GDP, could never be inclusive or sustainable

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Graham Watson's curator insight, March 30, 2015 6:45 AM

This Guardian article casts doubt on the ability of the world to generate sufficient growth to eradicate poverty. However, it's backed up by strong recent evidence to suggest that such an ambitious goal can only ever be a pipedream. It makes for appealing rhetoric, if not economic reality it would seem.  

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Productivity is almost everything

Productivity is almost everything | Macro - AS & A2 | Scoop.it
If we could only boost productivity, there would be no need to ink in any more austerity in Wednesday’s budget. So how on earth do we improve output per worker?

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Graham Watson's curator insight, March 16, 2015 12:35 PM

Robert Peston on why boosting productivity is the key economic challenge for all parties - both in the sense of improving quality of life, boosting international competitiveness and the implications for their spending plans of the major parties (the Lib Dems apparently still a 'major party' for the next couple of months!)

 

It highlights why this variable is critical to a nation's economic health.

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A2 Macro Pre-Release Extract 4: Intra Industry Trade - MUST WATCH

A2 Macro Pre-Release Extract 4: Intra Industry Trade - MUST WATCH | Macro - AS & A2 | Scoop.it
Explanation of the Intra-industry trade data used in extract 4 of F585 Stimulus material 2015.

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AWT Pratt's curator insight, February 11, 2015 3:20 AM

Very useful video for f585 students!

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A2 Macro Pre-Release Extract 3-4: Effects of Economic Integration (Trade Creation & Trade Diversion) - MUST WATCH

UK A Level Economics Course Content - The effects of economic integration - analysis and evaluation of trade creation and trade diversion caused by entry to ...

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