Economics in Education
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US swaps cigarettes for hummus

US swaps cigarettes for hummus | Economics in Education | Scoop.it

Via Phil Hensman
Bruce Fellowes's insight:

From tobacco to chick peas!

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Phil Hensman's curator insight, November 11, 2013 2:29 AM

Changes in Supply and Demand?

Dan Martin's curator insight, November 12, 2013 8:32 AM

Price acting as an incentive. Market forces at work

Economics in Education
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Rescooped by Bruce Fellowes from Macroeconomics: UK economy Pre-U Economics
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EU insists trade deals must meet its labour and competition standards

EU insists trade deals must meet its labour  and competition standards | Economics in Education | Scoop.it
Competition commissioner sees agreement with Canada as model but says deal with Brexit UK would be different

Via Graham Watson
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Graham Watson's curator insight, May 19, 7:19 AM
Perish the thought that the Guardian wants to create the impression that Brexit negotiations aren't going to be straightforward. However, this article highlights the fact that when we've withdrawn from the EU, any attempt to conclude future trade negotiations is going to see the UK subject to the same conditions as any other nation. 
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Brexit: EU demands 'serious UK response' on citizens' rights - BBC News

Brexit: EU demands 'serious UK response' on citizens' rights - BBC News | Economics in Education | Scoop.it
The top EU figure puts rights centre stage as the EU-27 formally approve negotiating guidelines.

Via Graham Watson
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Graham Watson's curator insight, April 30, 5:30 AM
Brexit has been rather shunted to one side by the General Election, but this article outlines what the EU27 want as regards Brexit negotiations. 

It's clear that for the EU27, citizens' right are the most important issue, but if I were the government I'd be more concerned by the words of Francois Hollande: "We must not be punitive, but at the same time it's clear that Europe knows how to defend its interests, and that Britain will have a weaker position in the future outside Europe, than it has today within Europe."
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Higher interest rates. Great idea. Here’s why it won’t happen

Higher interest rates. Great idea. Here’s why it won’t happen | Economics in Education | Scoop.it
The Bank of England, IMF and other policymakers see ongoing low rates as dangerous but can’t see how to change things. There is a way, of course …

Via Graham Watson
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Graham Watson's curator insight, April 16, 3:35 AM
Phillip Inman writes a thought-provoking article about current concerns about low interest rates and whether or not, as some would like, we're at a point where interest rates are likely to move back towards more 'normal' interest rates, around 4-6%.

His conclusion? It's not likely to happen, as Inman writes: global Finance Ministers aren't going to be able to increase rates, not least because "they cannot agree on the reason for the current predicament".

He suggests one or two alternative solutions - higher wealth taxes, and depreciation of the pound, in the case of the UK. However, neither of these suggestions is without its drawbacks.
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German Mittelstand wants 'soft Brexit' - BBC News

German Mittelstand wants 'soft Brexit' - BBC News | Economics in Education | Scoop.it
The country's small and medium-sized firms say a "hard Brexit" would harm both Germany and the UK.

Via Graham Watson
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Graham Watson's curator insight, April 8, 4:32 AM
A sign that Europe doesn't want hard Brexit has come from Germany's so-called Mittelstand, its small- and medium-sized firms, often family-run, that make up its export-led industrial heart. The government will, no doubt, be delighted to see that the leading industry representative has noted that "a hard Brexit would harm both sides".
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Negative rates vital to keeping growth going, says Draghi 

Negative rates vital to keeping growth going, says Draghi  | Economics in Education | Scoop.it
The eurozone’s economic recovery is largely driven by rock-bottom interest rates and so it is vital that the European Central Bank does not tighten policy, the lender's boss Mario Draghi has warned.

Via Graham Watson
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Graham Watson's curator insight, April 6, 1:43 PM
It seems that despite recent improvements in Eurozone economic performance, the head of the European Central Bank doesn't seem as confident that the recovery is on a solid footing. In fact, he's of the view that "support for demand remains key" meaning that we can expect continued QE and the bank's deposit rate remaining negative.
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Bank still worried about personal lending - BBC News

Bank still worried about personal lending - BBC News | Economics in Education | Scoop.it
The recent rapid rise in consumer borrowing is still a potential threat, says the Bank of England.

Via Graham Watson
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Graham Watson's curator insight, April 4, 3:41 PM
It seems that the Financial Policy Committee (FPC) is somewhat bothered by the recent rise in consumer borrowing, and the growth of consumer credit more generally.

From a student's point of view the key thing to be aware of is the distinction between secured and unsecured debt - i.e. the former is borrowing to fund a purchase where the loan is taken out against the value of the asset, and thus increase in the former aren't as problematic as large increases in the latter. And at the moment, as is noted: "Consumer credit lending is still less than 10% of all lending by UK banks to household borrowers, and is far smaller than mortgage lending which amounts to 70% of loans to households." So, whilst there are minor worries, there's nothing to be getting into a flap about.  
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Article 50: The starting gun for Brexit

Brexit’s two-year process will require intense negotiations. If Britain leaves the EU without any formal agreements, the results could be destructive.


Via Graham Watson
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Graham Watson's curator insight, March 29, 10:35 AM
And here's the Economist's take on the debates surrounding Article 50: the starting point for this is the extent to which the whole thing needs to be concluded within about a year given the political factors that run alongside the economic debates.

Elections in France and Germany, and then subsequently getting the agreement of all 27 member states at the end of the process is going to take time.
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Dyson 'enormously optimistic' about post-Brexit trade - BBC News

Dyson 'enormously optimistic' about post-Brexit trade - BBC News | Economics in Education | Scoop.it
The billionaire says UK business success lies beyond Europe because "that's the fast-growing bit".

Via Graham Watson
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Graham Watson's curator insight, March 27, 2:46 AM
The poster boy for post-Brexit confidence, Sir James Dyson, bangs the drum for trade with the rest of the world. And he has a point: there's nothing that can be done about Brexit, it's happening, so crack on. That said, he does manufacture a lot of his products in Asia, reducing future Brexit uncertainty. However, equally, the bulk of the value-added is engineering-based, and so the UK gains that income stream. 
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Hard Brexit 'could increase cost of making a car in UK by £2,400'

Hard Brexit 'could increase cost of making a car in UK by £2,400' | Economics in Education | Scoop.it
Some carmakers would be forced to move production overseas if Britain falls back on WTO rules, report finds

Via Graham Watson
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Graham Watson's curator insight, March 21, 4:50 PM
This Graham Ruddick piece identifies the apparent cost of 'hard' Brexit and a move to trade with the EU being governed by WTO rules. PA Consulting Group have undertaken some research and their conclusions don't make for good reading. "The increase in costs – equivalent to more than 10% per vehicle – would hit the average UK-built car if Britain falls back on World Trade Organisation rules" according to the research, and clearly that would put UK-based manufacturers at a significant cost disadvantage. 
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Rising prices set to push inflation over 2% Bank of England target

Rising prices set to push inflation over 2% Bank of England target | Economics in Education | Scoop.it
Figures next week will show the pummelled pound’s effect on prices, but don’t expect an interest rate hike just yet

Via Graham Watson
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Graham Watson's curator insight, March 19, 4:34 AM
Katie Allen looks at the likely inflation figures, reflecting on the impact of the post-Brexit depreciation but suggesting that inflation heading above target being unlikely to induce an immediate rise in interest rates.

The reason for this is that the fallout from Article 50 negotiations has to be factored in, and with inflation squeezing real incomes, there are also grounds for thinking that consumer spending will also slow.

Equally, next week sees the re-appearance of the CPIH measure of inflation for those of you of a trainspotterish bent.
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US raises benchmark interest rate by 0.25% - BBC News

US raises benchmark interest rate by 0.25% - BBC News | Economics in Education | Scoop.it
The US Federal Reserve raises its key interest rate for only the third time in a decade.

Via Graham Watson
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Graham Watson's curator insight, March 16, 2:25 AM
The US Federal Reserve has raised interest rates by 0.25% in what is expected to be the first of three rate rises this year. This is because of a strengthening US recovery, but, of course, it also has implications for the rest of the world.

However, as yet the UK and the Eurozone haven't raised rates - although Brexit uncertainty has played a role in that in the UK.
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The European Union is facing a threat to its very existence

The Treaty of Rome was signed 60 years ago this month. But can European leaders make the EU appealing to a new generation of more sceptical voters?

Via Graham Watson
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Graham Watson's curator insight, March 6, 4:55 PM
The EU is facing the sort of existential crisis that it's never really faced before: Brexit and the rise of nationalism, never mind the ongoing issues in Greece. The Economist investigates.
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Delay Brexit if no trade deal reached, say business leaders - BBC News

Delay Brexit if no trade deal reached, say business leaders - BBC News | Economics in Education | Scoop.it
The British Chambers of Commerce says its members fear a so-called hard Brexit could spell trouble.

Via Graham Watson
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Graham Watson's curator insight, February 28, 1:31 AM
Despite Mrs.May's unequivocal stance, it appears that the British Chambers of Commerce are not of the view that 'Brexit means Brexit'. They argue that Brexit should only mean Brexit, if we're able to conclude an appropriate trade deal in time. I'm not sure that's the government's position.
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Hard Brexit would cost us £500m a year, says oil and gas industry

Hard Brexit would cost us £500m a year, says oil and gas industry | Economics in Education | Scoop.it
Oil and Gas UK warns over dangers from falling back on WTO rules and curtailing freedom of movement

Via Graham Watson
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Graham Watson's curator insight, May 3, 3:39 PM
And if the threat to the food sector isn't bad enough for you, you can add oil and gas to the list of industries with real worries about the implications of Brexit.
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CBI warns against Brexit divorce bill row putting EU-UK trade ties at risk

CBI warns against Brexit divorce bill row putting EU-UK trade ties at risk | Economics in Education | Scoop.it
Business leaders to urge negotiators on both sides to focus on the mutual benefits of continued free trade as they begin talks

Via Graham Watson
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Graham Watson's curator insight, April 27, 1:48 AM
The CBI's Carolyn Fairbairn will focus a talk at Cambridge University on the issue of the Brexit 'divorce bill' and argue that there's a danger of the government missing the wood for the trees. The bigger issue is ensuring that trade is largely unaffected by Brexit and getting caught up in the minutae of how much Britain owes the EU, might distract from getting this bit of the Brexit negotiations correct.

After all, what's a few billion euros between friends.
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Brexit could be the best thing that happened to the European Union

Brexit could be the best thing that happened to the European Union | Economics in Education | Scoop.it
Brexit will be a hard one, which will hit the UK economy and be felt hardest by those who voted for it.

Via pdeppisch
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Ryanair 'will have to suspend UK flights' without early Brexit aviation deal

Ryanair 'will have to suspend UK flights' without early Brexit aviation deal | Economics in Education | Scoop.it
Falling back on WTO rules without a bilateral arrangement would be ‘disastrous’, says airline’s finance chief

Via Graham Watson
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Graham Watson's curator insight, April 6, 2:56 PM
Ryanair have suggested that Brexit is going to have disastrous consequences for the aviation sector, to the extent that flights out of the UK to Europe will have to be suspended in 2019 unless an early Brexit deal can be reached.

Now that would be disastrous.
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Free banking could disappear if global interest rates stay low, IMF warns

Free banking could disappear if global interest rates stay low, IMF warns | Economics in Education | Scoop.it
Households face the end of free banking if the low-growth, low-interest rate environment persists, according to the International Monetary Fund.

Via Graham Watson
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Graham Watson's curator insight, April 6, 1:31 PM
The IMF is predicting that the next few years could see a change in the nature of retail banking, largely as a consequence of low interest rates and demographic change, such that free baking is likely to disappear and banks are likely to diversify into easy-access accounts, payments services and products such as health insurance.

It gets you thinking: which, fundamentally, is what this subject is about.
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From the EU referendum to Article 50: the charts that show how the UK's economy has performed

From the EU referendum to Article 50: the charts that show how the UK's economy has performed | Economics in Education | Scoop.it
The supposedly negative effect that Brexit would have on the UK's economy was the central message of the Remain campaign in the build-up to last June's historic referendum.

Via Graham Watson
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Graham Watson's curator insight, March 29, 7:15 AM
I'm never able to see the charts talked about but I'm sure that this paints a particular picture. And is worth looking at for that alone.
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What happens after article 50 is triggered? | Guardian Explainers

Theresa May has formally begun the process of the UK’s exit from the EU by triggering the article 50 clause. Subscribe to The Guardian

Via Graham Watson
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Graham Watson's curator insight, March 29, 10:30 AM
Brexit: what next? The Guardian offers some pointers as to the future direction of travel.
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How has the Brexit vote affected the UK economy? March verdict

How has the Brexit vote affected the UK economy? March verdict | Economics in Education | Scoop.it
How has the economy reacted to the vote to leave the EU on 23 June? Each month we look at key indicators to see what effect the Brexit process has on growth, prosperity and trade in the UK

Via Graham Watson
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Graham Watson's curator insight, March 25, 3:24 AM
The Guardian's monthly snapshot of how the economy is doing post-Brexit. A useful guide to what's what, and what's not, looking at the charts that summarise the UK's economic performance in the aftermath of Brexit.
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Infographic: The Nordic Are a Happy Bunch

Infographic: The Nordic Are a Happy Bunch | Economics in Education | Scoop.it
This chart shows a ranking of the happiest countries worldwide 2014-2016, by index score

Via Graham Watson
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Graham Watson's curator insight, March 21, 8:02 AM
Interesting little Statista chart that ranks countries in terms of their happiness according to the World Happiness Report. Worth a look.
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Interest rates stay on hold but rising inflation breaks the consensus at the Bank of England 

Interest rates stay on hold but rising inflation breaks the consensus at the Bank of England  | Economics in Education | Scoop.it
Interest rates are to stay on hold again as the Bank of England’s monetary policy committee (MPC) voted to keep the base rate at 0.

Via Graham Watson
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Graham Watson's curator insight, March 17, 4:25 AM
A little bit more on yesterday's interest rate decision with Kristin Forbes deciding to break ranks and vote for an increase in rates. One wonders what this must be like? It strikes me that MPC voting is like a giant game of chicken - with the aim of the game to paint a picture of unanimity.

'Oh, Kristin, you've only gone and spoilt it for everyone!' 
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ECB's Draghi says 'more optimistic' on the outlook for the eurozone - BBC News

ECB's Draghi says 'more optimistic' on the outlook for the eurozone - BBC News | Economics in Education | Scoop.it
The comments from the European Central Bank head come as interest rates are left on hold.

Via Graham Watson
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Graham Watson's curator insight, March 9, 2:42 PM
Good news from the Eurozone as growth rates have picked up and headline inflation has moved closer to 2%, even if core inflation is still worryingly low at 0.9%.

However, the European Central Bank has started to revise its growth forecast upwards.  
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Who pays the most into the EU - and who gets the most back? - The i newspaper online iNews

Who pays the most into the EU - and who gets the most back? - The i newspaper online iNews | Economics in Education | Scoop.it
The UK is the eighth largest net contributor to the EU, meaning we pay more into Europe than we receive - to the tune of  €7.1bn. The Netherlands, Sweden,

Via Phil Hensman
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Phil Hensman's curator insight, March 3, 3:43 AM
Less money to pay for EU membership...