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Australia 'worst climate performer'

Australia 'worst climate performer' | IB Microeconomics | Scoop.it
Adam Dean's insight:

Reversal of climate change policies increasing external costs in the Australia.

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McDonald's sales continue to decline

McDonald's sales continue to decline | IB Microeconomics | Scoop.it
Adam Dean's insight:

A change in tastes and preferences causing a decrease in demand.

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Scottish alcohol consumption falling

Scottish alcohol consumption falling | IB Microeconomics | Scoop.it
Adam Dean's insight:

Example of regulation of reducing consumption of a demerit good.

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Payday loan charges cap announced

Payday loan charges cap announced | IB Microeconomics | Scoop.it
Adam Dean's insight:

1.3 & 1.4 Government intervention in the form of regulation and price controls, but will this lead to an increase in the use of 'loan sharks' in hidden markets? Unsurprisingly, pay day loan firms think it will, however, the FCA think not (specifically just 2% of the 70,000 of those forced out of the market by the intervention). Lots here on market failure, government intervention, unintended consequences and government failure.

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Adam Dean's curator insight, November 11, 2014 6:15 AM

Government intervention in the form of regulation and price controls, but will this lead to an increase in the use of 'loan sharks' in hidden markets? Unsurprisingly, pay day loan firms think it will, however, the FCA think not (specifically just 2% of the 70,000 of those forced out of the market by the intervention). Lots here on market failure, government intervention, unintended consequences and government failure.

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Breaking the camel’s back

Breaking the camel’s back | IB Microeconomics | Scoop.it
ANGUS MADDISON, who died in 2010, was among the most influential of economic historians; his book on the world economy over the past 2,000 years is a classic. Now,...
Adam Dean's insight:

1.4 Trends in global inequality.

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Adam Dean's curator insight, October 12, 2014 8:06 AM

2.3 Trends in global inequality.

Adam Dean's curator insight, October 12, 2014 8:06 AM

Trends in global inequality.

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UK is out of step with the rest of the world on access to water

UK is out of step with the rest of the world on access to water | IB Microeconomics | Scoop.it
A petition on the human right to water, signed by 1.8m people across Europe, was presented last month in Brussels. The petition called on the European Commission to recognise the UN resolution that water…
Adam Dean's insight:

1.4 England's water supply since privatisation - leaks, price hikes, and profits.

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Adam Dean's curator insight, August 30, 2014 4:38 PM

England's water supply since privatisation - leaks, price hikes, and profits.

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Car hire prices 'unfairly vary'

Car hire prices 'unfairly vary' | IB Microeconomics | Scoop.it
Adam Dean's insight:

Car hire price discrimination based on country of residence ruled illegal by the EU.

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Adam Dean's curator insight, August 13, 2014 6:53 AM

Car hire price discrimination based on country of residence ruled illegal by the EU.

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The evidence is clear: increasing the minimum wage doesn't cost jobs

The evidence is clear: increasing the minimum wage doesn't cost jobs | IB Microeconomics | Scoop.it
Dave Oliver: Increases to the minimum wage do one thing: make life better for the low paid. They don't cause unemployment, no matter what big business says

Via Graham Watson
Adam Dean's insight:

1.3 Government Intervention

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Graham Watson's curator insight, June 11, 2014 6:16 AM

A brief piece that highlights the literature on the impact of the minimum wage, dating back to a 1990s Card and Krueger study of fast food restaurants.

 

The conclusion is clear: minimum wages don't cost jobs. Can you work out why, even in a perfectly competitive labour market, a minimum wage need not cost jobs? You might need to draw a diagram.

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Iranians see petrol prices surge

Iranians see petrol prices surge | IB Microeconomics | Scoop.it
Adam Dean's insight:

1.3 Impact of subsidy removals. Subsidies help reduce costs of production which, in turn, lead to lower prices and increased consumer surplus. However, if used over the long-term subsidies can create large opportunity costs, encourage producer inefficiency and distort price signals. Consumers become accustomed to the artificially low prices, so when subsidies are removed they are likely to react negatively to the sudden price surge, as they have previously done in Iran.

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Adam Dean's curator insight, April 25, 2014 5:53 AM

Impact of subsidy removals. Subsidies help reduce costs of production which, in turn, lead to lower prices and increased consumer surplus. However, if used over the long-term subsidies can create large opportunity costs, encourage producer inefficiency and distort price signals. Consumers become accustomed to the artificially low prices, so when subsidies are removed they are likely to react negatively to the sudden price surge, as they have previously done in Iran.

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Taking on the tele-garchs

Taking on the tele-garchs | IB Microeconomics | Scoop.it
IN HIS second year in office President Enrique Peña Nieto of Mexico is admirably keen to develop a reputation as a cartel-killer. In December his reforms stripped...
Adam Dean's insight:

1.4 & 1.5 Real world example of monopoly power and (potential) government intervention. Carlos Slim has used his power to become the 2nd richest man in the world (after Bill Gates, another made rich by the monopolistic control of a market).

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HL Math Equations for IB Econ

HL Math Equations for IB Econ | IB Microeconomics | Scoop.it
37 terms · Linear Demand Function, Linear Supply Function, Linear Functions and effects due to indirect taxes, Linear Functions and effects due to subsidies, Linear Functions and the effect of an increase in demand,
Adam Dean's insight:

Excellent revision resource for the HL maths extension.

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The tragedy of the high seas

The tragedy of the high seas | IB Microeconomics | Scoop.it
IN 1968 an American ecologist, Garrett Hardin, published an article entitled “The Tragedy of the Commons”. He argued that when a resource is held jointly, it is...
Adam Dean's insight:

This article looks at why fish stocks are becoming increasingly depleted and potential solutions to this tragedy of the commons.

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Osborne wants minimum wage rise

Osborne wants minimum wage rise | IB Microeconomics | Scoop.it
Adam Dean's insight:

1.3 Government intervention - minimum

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Adam Dean's curator insight, January 17, 2014 5:24 AM

2.6 Supply-side policy. Consider the impact on the participation rate and demand-deficient unemployment. What might the success of this policy depend upon?

Adam Dean's curator insight, January 17, 2014 5:31 AM

Supply-side policy. An real increase in the NMW may lead to an increase in C and M. AD will rise if the MPC is greater than the MPM (which is true in most cases). However, this is assuming that the real increase in the NMW does not create job losses or reduced hours as labour costs rise. Given that NMW has been falling in real terms for several years the latter is unlikely, but will depend upon the size of the increase. Remember the NMW is set by the Low Pay Commission.

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Oil keeps sliding on oversupply fears

Oil keeps sliding on oversupply fears | IB Microeconomics | Scoop.it
Adam Dean's insight:

Increases in supply causing oil prices to fall. Consider the impact on the current account of those countries that rely heavily on oil exports.

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Air pollution 'public health crisis'

Air pollution 'public health crisis' | IB Microeconomics | Scoop.it
Adam Dean's insight:

Air pollution an external cost - negative production externalities.

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Obesity 'costing same as smoking'

Obesity 'costing same as smoking' | IB Microeconomics | Scoop.it
Adam Dean's insight:

Fatty foods cost the UK £47bn a year (and the global economy £1.3tn). Report suggests regulation is likely to be more effective than indirect tax or information provision. Are fatty foods a demerit good? Should the government control our food intake?

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Adam Dean's curator insight, November 20, 2014 2:35 AM

Fatty foods cost the UK £47bn a year (and the global economy £1.3tn). Report suggests regulation is likely to be more effective than indirect tax or information provision. Are fatty foods a demerit good? Should the government control our food intake?

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A Decade of Fracking, Costing the Earth - BBC Radio 4

A Decade of Fracking, Costing the Earth - BBC Radio 4 | IB Microeconomics | Scoop.it

#Tom Heap visits communities living with the shale gas industry, from Texas to Lancashire.

Adam Dean's insight:

1.5 Following on from the ESRC conference this Tuesday - R4 looks at the fracking debate. Lots here on market failure, government intervention, and multiplier effects.

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Adam Dean's curator insight, November 6, 2014 4:42 AM

Following on from the ESRC conference this Tuesday - R4 looks at the fracking debate. Lots here on market failure, government intervention, and multiplier effects.

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Labour makes £8 minimum wage pledge

Labour makes £8 minimum wage pledge | IB Microeconomics | Scoop.it

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Adam Dean's insight:

1.3 Government intervention - price controls. Labour looking to reduce income inequality in the UK. What will happen to the gini coefficient? Will it work? What may happen to real wage unemployment? Will it have a negative impact on inflation and international competitiveness?

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Adam Dean's curator insight, September 21, 2014 5:20 AM

2.3 Distribution of income. Labour looking to reduce income inequality in the UK. What will happen to the gini coefficient? Will it work? What may happen to real wage unemployment? Will it have a negative impact on inflation and international competitiveness?

Adam Dean's curator insight, September 21, 2014 5:20 AM

Labour looking to reduce income inequality in the UK. What will happen to the gini coefficient? Will it work? What may happen to real wage unemployment? Will it have a negative impact on inflation and international competitiveness?

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India's Kerala to ban alcohol sales

India's Kerala to ban alcohol sales | IB Microeconomics | Scoop.it
Adam Dean's insight:

1.4 Market failure. Alcohol is considered a demerit good because it creates negative consumption externalities that generate external costs to third parties. Kerala state officials are taking the extreme measure of an outright ban in order to reduce consumption and achieve allocative efficiency. However, this is likely to lead to the creation of a hidden market for alcohol as we saw during the US prohibition of the 1920's. 

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Adam Dean's curator insight, August 22, 2014 4:27 AM

Market failure and government intervention. Alcohol is considered a demerit good because it creates negative consumption externalities that generate external costs to third parties. Kerala state officials are taking the extreme measure of an outright ban in order to reduce consumption and achieve allocative efficiency. However, this is likely to lead to the creation of a hidden market for alcohol as we saw during the US prohibition of the 1920's. 

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EU to pay struggling peach growers

EU to pay struggling peach growers | IB Microeconomics | Scoop.it
Adam Dean's insight:

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

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Adam Dean's curator insight, August 12, 2014 8:23 AM

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

Adam Dean's curator insight, August 12, 2014 8:24 AM

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

Adam Dean's curator insight, August 12, 2014 8:24 AM

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

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Labour plan to cap rent increases

Labour plan to cap rent increases | IB Microeconomics | Scoop.it
Adam Dean's insight:

1.3 Government intervention. Labour party proposes rent controls.

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'Big six' face competition inquiry

'Big six' face competition inquiry | IB Microeconomics | Scoop.it
Adam Dean's insight:

1.5 CMA to investigate the UK energy market. Indicators suggest a lack of competition, but no overt collusion. Tacit perhaps? Investigation expected to take 18 months!

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Wind farm earnings hit by plans to freeze carbon tax - Telegraph

Wind farm earnings hit by plans to freeze carbon tax - Telegraph | IB Microeconomics | Scoop.it
Proposed freeze could wipe millions from wind farm owners’ profits
Adam Dean's insight:

The energy market is incredibly complex. A web of regulation makes operations difficult in an industry that has received extensive public scrutiny recently. This article suggests that changing government intervention (in the form of a carbon tax) may hurt green energy production. The carbon tax has come under attack for being regressive and burdensome for firms (higher costs reduce competitiveness).  Are the costs too high or does recent weather patterns (and associated costs) suggest it will all be worth it in the end?

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Adam Dean's curator insight, March 2, 2014 5:07 PM
The energy market is incredibly complex. A web of regulation makes operations difficult in an industry that has received extensive public scrutiny recently. This article suggests that changing government intervention (in the form of a carbon tax) may hurt green energy production. The carbon tax has come under attack for being regressive and burdensome for firms (higher costs reduce competitiveness). Are the costs too high or does recent weather patterns (and associated costs) suggest it will all be worth it in the end?
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Why raising the minimum wage is not the best way to help Britain's poorest

Why raising the minimum wage is not the best way to help Britain's poorest | IB Microeconomics | Scoop.it
Adam Dean's insight:

NMW hike - the IEA looks at the hidden picture.

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Adam Dean's curator insight, February 27, 2014 7:40 AM
NMW hike - the IEA looks at the hidden picture.
Adam Dean's curator insight, February 27, 2014 7:40 AM
NMW hike - the IEA looks at the hidden picture.
Adam Dean's curator insight, February 27, 2014 7:40 AM
NMW hike - the IEA looks at the hidden picture.
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HS2 may ease housing pressure in London, says project boss

HS2 may ease housing pressure in London, says project boss | IB Microeconomics | Scoop.it
David Higgins claims high-speed rail will mean resources and wealth will be redistributed between north and south
Adam Dean's insight:

Positive production extenalities. First time buyers may find it a litte easier to get on the housing ladder if HS2 reduces demand for housing in London and prices, subsequently, fall.

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Adam Dean's curator insight, January 27, 2014 7:14 AM

Positive production extenalities. First time buyers may find it a litte easier to get on the housing ladder if HS2 reduces demand for housing in London and prices, subsequently, fall.

Adam Dean's curator insight, January 27, 2014 7:14 AM

Positive production extenalities. First time buyers may find it a litte easier to get on the housing ladder if HS2 reduces demand for housing in London and prices, subsequently, fall.