AS Economics Markets and market failure
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Russian food embargo leaves Europe with glut of fruit, pork and mackerel

Russian food embargo leaves Europe with glut of fruit, pork and mackerel | AS Economics Markets and market failure | Scoop.it
Producers across EU race to shift perishable items, with concern that surplus will further push down prices
Neil Codd's insight:

A good case study to get New A-level Economists thinking about the causes of gluts and shortages and how markets deal with them.  Consider what will be happening in Russia

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China factory fire sends memory chip prices to three-year high

China factory fire sends memory chip prices to three-year high | AS Economics Markets and market failure | Scoop.it
Fire damage halts production at Hynix, the world's second largest maker of DRAM chips for mobile phones and computers
Neil Codd's insight:

This is the sort of article AS students will be able to analyse using demand and supply diagrams very soon....

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Putting a price on saving lives

Putting a price on saving lives | AS Economics Markets and market failure | Scoop.it
The body that advises the government on vaccines has decided not to recommend the NHS uses a new vaccine against meningitis B, a bug that kills and disables many children each year.
Neil Codd's insight:
Deciding the best use of scarce resources is what Economics is all about. For most goods we let the market, supply and demand, make the decision. For. Healthcare government officials undertake cost-benefit-analysis that can appear heartless. They have to decide the best way of maximising the number of "QALY"s saved with a limited budget. They cannot say yes to everything - the basic economic problem.
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Should We Ban Cigarettes? by Peter Singer - Project Syndicate

Should We Ban Cigarettes? by Peter Singer - Project Syndicate | AS Economics Markets and market failure | Scoop.it
Cigarettes are among the deadliest artifacts in human history, and kill more people every year than AIDS, Malaria, and traffic accidents combined.
Neil Codd's insight:

Good demonstration of expert evaluation of policies to deal with market failure. Possibly good for AS Critical Thinking too.

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Coming 'oil glut' may push global economy into deflation - Telegraph

Coming 'oil glut' may push global economy into deflation - Telegraph | AS Economics Markets and market failure | Scoop.it
OPEC spare capacity set to reach levels last seen in the depths of the financial crisis in 2009, analysts say
Neil Codd's insight:

A very interesting summary of the author's summary of the world economy with focus on the oil market. Interesting for unit 1 (oil market), unit 2 (impacts on the UK of oil price crash) and unit 4. Even a quick comparison of the Middle East with seventeenth century Europe.

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The NHS will fail us so long as we look on it as a market

The NHS will fail us so long as we look on it as a market | AS Economics Markets and market failure | Scoop.it
Peter Wilby: The health service is saddled with impossible expectations. When it doesn't meet them, yet more 'reform' is prescribed
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To what extent should market reforms be used to improve the NHS? Not much according to Peter Wilby. A discussion we will have in AS economics class...
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Copper bulls seize on scrap shortage - FT.com

Copper bulls seize on scrap shortage - FT.com | AS Economics Markets and market failure | Scoop.it
Copper bears have long been predicting a surge in supply from the world’s copper mines. But they may have neglected to consider one rather large mine: the “urban mine” of scrap.
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Neil Codd's comment, June 25, 2013 5:27 PM
Neil Codd's comment, Today, 10:23 PM
When the economy slows one might expect a downward pressure on copper prices. The article shows that there is however an interesting "stabiliser". A slowing economy can reduce the supply of scrap metal - an important source of copper supply.
Neil Codd's comment, June 25, 2013 5:29 PM
Copper prices have fallen by 16% this year though! Via https://twitter.com/lindayueh/status/349626254397415424 @lindayeuh
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Twitter / johnvanreenen: Economists all agree that ...

Economists all agree that HelpToBuy is bad housing policy, though for different reasons http://on.ft.com/12SRmV5 @ChrisGiles_
Neil Codd's insight:
Price elasticity of supply, demand shifts, macro economic implications, government failure. Lots of good economics!
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