Microeconomic news for A-level students
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Microeconomic news for A-level students
News articles of interest to A-level microeconomic students. Ideas for discussion.
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Is Wal-Mart serious about boosting the minimum wage? Don't bet on it. - Fortune Features

Is Wal-Mart serious about boosting the minimum wage? Don't bet on it. - Fortune Features | Microeconomic news for A-level students | Scoop.it
The world's largest retailer is disavowing a report that it's "looking" at supporting a Democratic push.
Invisible Hand's insight:

Although focussing on some political issues, this article rises some interesting points. Does Walmart have features of a monopsony? How could this minimum wage hike impact the US labour market? Reading the public comments also provides useful insight into opinion and the pros/ cons of a minimum wage.

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Chocolate Eaters Drive Record Cocoa-Output Deficit: Commodities

Chocolate Eaters Drive Record Cocoa-Output Deficit: Commodities | Microeconomic news for A-level students | Scoop.it
Global cocoa supplies are headed for the longest production shortfall in more than five decades as chocolate demand surges in Asia.
Invisible Hand's insight:

MICRO GOLD!! Fabulous to identify the demand and supply factors.

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Watchdog plans to give MPs a £7,600 pay rise

Watchdog plans to give MPs a £7,600 pay rise | Microeconomic news for A-level students | Scoop.it
MPs are to be handed a £7,600 pay rise after a watchdog refused to bow to pressure from political leaders to scale back the rise at a time voters are feeling the squeeze. The 11% bump would take the standard salary to £74,000 by 2015.
Invisible Hand's insight:

Some useful reading here. Can students identify reasons for and against increasing pay? Is the failure to allow pay increases a market failure? What factors can be identified of wage determination?

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Christmas Lights World Record Reclaimed In Oz

Christmas Lights World Record Reclaimed In Oz | Microeconomic news for A-level students | Scoop.it
An Aussie family reclaims the world record for the lights display, which is so popular one couple got married under it.
Invisible Hand's insight:

Great example of some positive externalities from christmas lights.... but not necessarily for the neighbours!

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'Smelly' hot sauce factory curbed

'Smelly' hot sauce factory curbed | Microeconomic news for A-level students | Scoop.it
Invisible Hand's insight:

GREAT example of negative externalities in production here....  always good to have something a bit different!!

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Queues to buy Beckhams' clothes

Queues to buy Beckhams' clothes | Microeconomic news for A-level students | Scoop.it
Members of the public have been queuing outside a west London charity shop to buy designer clothes donated by David and Victoria Beckham.
Invisible Hand's insight:

Queues show the excess demand for clothes being sold by the Beckhams. Can students show this on a diagram? What factors have led to this excess demand?

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Sales of jellied EELS booming outside London

Sales of jellied EELS booming outside London | Microeconomic news for A-level students | Scoop.it
Tesco has seen its jellied eel sales grow by 35 per cent in the past two years since it began selling them in places including Scotland and Northern Ireland.
Invisible Hand's insight:

Factors affecting demand; Draw a D&S curve and explain the increase in sales. What is the income elasticity of demand likely to be? What might be the price elasiticity of supply for eels?

From @mathenomics

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Not fare! Taxi app in £10 minimum charge

Not fare! Taxi app in £10 minimum charge | Microeconomic news for A-level students | Scoop.it
British Vogue editor Alexandra Shulman today attacked the decision by online taxi-booking service Hailo to increase its minimum fare to £10.
Invisible Hand's insight:

An unusual example of a service affected by minimum prices, some of the problems that are created!

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Several Hurt After Firework Explodes In Crowd

Several Hurt After Firework Explodes In Crowd | Microeconomic news for A-level students | Scoop.it
Spectators including two children suffer injuries after the accident at a public event in the West Midlands.
Invisible Hand's insight:

Nice little example for discussion.. are fireworks a demerit good? What about the positive externalities? What can be done to regulate them?! Or is something else needed?

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Soaring energy costs take chunk out of consumer income

Soaring energy costs take chunk out of consumer income | Microeconomic news for A-level students | Scoop.it
Rising energy costs are continuing to pile pressure on household shopping budgets, according to the latest Asda Income Tracker.
Invisible Hand's insight:

How might this affect consumer demand? Why does Asda have an Income Tracker?  

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Apple-a-day call for all over-50s

Apple-a-day call for all over-50s | Microeconomic news for A-level students | Scoop.it
If everyone over the age of 50 were to eat an apple a day, 8,500 deaths from heart attacks and strokes could be avoided every year in the UK, say researchers.
Invisible Hand's insight:

Can students answer  the following;

- Why are apples underconsumed? Describe the market failure.

-Draw the diagram to represent this market failure.

- How can this market failure be corrected? What are the limitations to these solutions.?

 

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A2 Micro - Poverty: Millions of families living in poverty despite being in employment says new study

A2 Micro - Poverty: Millions of families living in poverty despite being in employment says new study | Microeconomic news for A-level students | Scoop.it
There are more working families living in poverty in the UK than non-working families for the first time since the birth of the welfare state, according to a new study.

Via Saint Martin's - Economics
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Big changes for renewable subsidies

Big changes for renewable subsidies | Microeconomic news for A-level students | Scoop.it
Invisible Hand's insight:

What are the pros and cons of this subsidy? May there be unintended consequences? Why is the focus being taken away from onshore wind power and solar energy?

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Energy Bills: Govt Wants Price Freeze Until 2015

Energy Bills: Govt Wants Price Freeze Until 2015 | Microeconomic news for A-level students | Scoop.it
Annual bills could be cut by £50 by the move, it is claimed, which comes ahead of a Labour pledge to end the energy "rip-off".
Invisible Hand's insight:

When discussing government intervention this is a great example to use! Includes a video here explaining reason behind it.... cover it with unstable prices leading to market failure.

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Energy: What's the least worst option?

Energy: What's the least worst option? | Microeconomic news for A-level students | Scoop.it
Powering Britain in the future is a contentious issue, with every proposal meeting strenuous, sometimes hostile, objections. BBC science editor David Shukman asks why everyone is so angry about energy.
Invisible Hand's insight:

Good discussion on the pros and cons of sources of energy. Present to introduce a discussion on externalities that are created by coal and wind power. Are wind farms a viable option to correct market failure created from negative externalities?

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Bank's Help to Buy role questioned

Bank's Help to Buy role questioned | Microeconomic news for A-level students | Scoop.it
Invisible Hand's insight:

Necessary government intervention to reduce inequality? Or will this prove to be an example of government failure (creating a property bubble)? Good opportunity to discuss macro topic in micro context!

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Liverpool scraps bus lanes in trial

Liverpool scraps bus lanes in trial | Microeconomic news for A-level students | Scoop.it
Invisible Hand's insight:

Interesting debate! Bus lanes often offered as solution to congestion... but is this a good option?

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Billionaire Feels Guilty About Being So Rich

Billionaire Feels Guilty About Being So Rich | Microeconomic news for A-level students | Scoop.it
The top 1% should be happy to pay more tax and see the money they've made as a privilege not a right, says PIMCO boss Bill Gross.
Invisible Hand's insight:

An unsual viewpoint when discussing the distribution of wealth and policies to reduce inequality.

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Young women 'trapped' in low pay

Young women 'trapped' in low pay | Microeconomic news for A-level students | Scoop.it
Young women are increasingly likely to be trapped in low-paid jobs such as waitressing or shelf-stacking, according to a TUC report.
Invisible Hand's insight:

Useful if currently looking at labour markets and factors affecting wage differentials. What are the causes of lower wages for women? What is the solution?

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Coffee Posts Longest Slump Since 1972 on Brazil Supply Outlook - Bloomberg

Coffee Posts Longest Slump Since 1972 on Brazil Supply Outlook - Bloomberg | Microeconomic news for A-level students | Scoop.it
Coffee Posts Longest Slump Since 1972 on Brazil Supply Outlook Bloomberg Global production, including the robusta variety that accounts for 41 percent of supply, will exceed demand by 4.46 million bags in the 2013-2014 season, from a 10 million-bag...
Invisible Hand's insight:

Fantastic article describing how expectations of wet weather are likely to increase coffee supply and cut costs for Starbucks! Great for looking at factors affecting supply, the price mechanism and at interrealtionships between factor and product markets,

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