year 13 AQA economics
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The truth about extreme global inequality

The truth about extreme global inequality | year 13 AQA economics | Scoop.it
Global inequality is growing in part because of the neoliberal economic policies imposed on developing countries.

Via Geoff Riley
Mr Jones's insight:

Good links to video grahics outling the extent on inequality both globally and in the US. Are the incentives created by inequality really working in the way that free market economists would like?

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Geoff Riley's curator insight, April 22, 2013 1:39 AM

LSE Lecturer has produced an inographic on inequality that has become a big hit on You Tube. How can persistent and extreme inequality harm growth and development propsects?

Sdg's curator insight, May 6, 2013 6:18 AM

Good Econ 3 article

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Bike manufacturer sees huge reduction in delivery damage by printing TV on the box | Behavioural Economics

Bike manufacturer sees huge reduction in delivery damage by printing TV on the box | Behavioural Economics | year 13 AQA economics | Scoop.it
Dutch manufacturer Vanmoof discovers that printing a picture of a flatscreen TV on their bike boxes reduces delivery damages by 70-80 per cent | Behavioural Economics
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Principal Agent Problem | Economics | tutor2u

Principal Agent Problem | Economics | tutor2u | year 13 AQA economics | Scoop.it

How do the owners of a large business know that managers work to build shareholder value? This
lack of information is known as the principal-agent problem
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Tesco dominates the UK ice-cream market

Tesco dominates the UK ice-cream market | year 13 AQA economics | Scoop.it
“ They seem to have got it licked judging by the latest data on ice-cream sales in the UK. Tesco has just over 27% of take-home sales of ice creams although Lidl,”
Via Geoff Riley
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Geoff Riley's curator insight, September 18, 6:58 AM
They seem to have got it licked judging by the latest data on ice-cream sales in the UK. Tesco has just over 27% of take-home sales of ice creams although Lidl, Aldi and (appropriately enough) Iceland are also taking some market share from the mid-range supermarkets. Sales of single frozen ice-creams are in decline but demand for premium ice-creams continues to grow.
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Sports Direct hears shareholder anger at annual meeting - BBC News

Sports Direct hears shareholder anger at annual meeting - BBC News | year 13 AQA economics | Scoop.it
“ Sports Direct has heard from angry shareholders at its annual meeting, despite the firm's pledge to improve working conditions for its staff.”
Mr Jones's insight:
Topical, and quite local story about a business whose behaviour is currently annoying a number of interested groups. Basic short run economic theory suggests firms are always looking to maximise their profits. Do you think this the objective that Sports Direct is pursuing? How much influence do the other stakeholders have in influencing firm behaviour? how significant is it that 'main man' Mike Ashley holds 55% of the shares?
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Gender Pay Gap widens for women with degrees | Economics | tutor2u

Gender Pay Gap widens for women with degrees | Economics | tutor2u | year 13 AQA economics | Scoop.it
The pay gap in the UK between men and women with higher level qualifications has not changed for 20 years, despite several government initiatives. Gemma Tetlow,
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Brexit and Income Inequality | Economics | tutor2u

Brexit and Income Inequality | Economics | tutor2u | year 13 AQA economics | Scoop.it
Wage inequality was partly behind the vote for Brexit. In this short video, Brian Bell argues that the costs of Brexit should be evaluated in terms of income di
Mr Jones's insight:
Brian Bell arguing that the way Brexit turns out to affect different groups within society is just as important as how it affects average incomes/GDP. Equally relevant for any other development or policy approach. Governments can choose to persue policies for their distributional impact while baring in mind the average impact on the macro economy. 
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Historical context of Brexit | Economics | tutor2u

Historical context of Brexit | Economics | tutor2u | year 13 AQA economics | Scoop.it
Becoming a member of the EU had positive effects on UK’s economy. In this video, Professor Nick Crafts suggests that leaving the EU will very probably have a ne
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Tweet from @paul1kirby

Tweet from @paul1kirby | year 13 AQA economics | Scoop.it
Attitudes On Device Use
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Does using your mobile phone annoy other people. Could this evidence be used to suggest the existence of negative externalities associated with the use of mobile devices?
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ARM Holdings in £24bn Japanese takeover deal - BBC News

ARM Holdings in £24bn Japanese takeover deal - BBC News | year 13 AQA economics | Scoop.it
ARM Holdings, one of the UK's biggest technology companies, is set to announce it is being bought by Japan's Softbank for £24bn ($32bn).
Mr Jones's insight:
One of the best examples of successful innovative British SMEs of recent years. So is it a good idea to allow it to fall into foreign (here Japanese) ownership?
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Price Discrimination: Going Once, Going Twice: Airlines Auction Seat Upgrades

Price Discrimination: Going Once, Going Twice: Airlines Auction Seat Upgrades | year 13 AQA economics | Scoop.it
“ Airlines get a revenue boost by auctioning upgrades for premium seats, and passengers say it’s still a bargain over paying full fare.”
Via Geoff Riley
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Geoff Riley's curator insight, January 14, 12:44 AM

A growing number of airlines are using auctions as a way of selling off spare business and 1st class travel seats. It is an alternative to giving away free seats to loyal customers and a strategy to lift total operating revenues. 

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Shut Down Price: Cheap imports force UK pig farmers out of business

Shut Down Price: Cheap imports force UK pig farmers out of business | year 13 AQA economics | Scoop.it
“ Glut of pork – thanks in part to Russian ban – sends prices plunging”
Via Geoff Riley
Mr Jones's insight:
Factors conspiring against UK pig farmers. Will Brexit make their circumstances significantly different?
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Geoff Riley's curator insight, January 17, 5:26 AM

The Chinese economic slowdown, Russia’s ban on European food imports and cheaper pork products from other EU producers are combining to create a perfect storm for many of the UK's pig farmers.

 

It has become hard to make both ends meat, indeed on some estimates, pig farmers in the UK are making a loss of £7 or more on each pig reared. Many are leaving the industry and now more than half of the pork products bought in the UK come from imported meat. The industry is trying to find new markets for export, but there is inevitably a delay in achieving this.

 

The economic problems facing pig producers are similar to the crisis facing the UK milk sector. To what extent is there a case for state aid in some shape or form to help pig producers through the current crisis?

Sam Chamberlain's curator insight, September 12, 10:30 AM

Pig farmers have been directly affected by foreign alterations, specifically Russia's ban on imports from Europe due to sanctions which has hit the UK farmers hard and has caused the price of pork across Europe to fall. 

This is clear evidence of globalisation as UK farmers now sell in a global market in which they compete which farmers across the globe, which is the cost of accessing global buyers, you must compete with global suppliers. This problem is exemplified with some European nations undercutting the British producers selling at 90p a kilo when previously UK farmers were receiving £1.20.

The largest issue is the Chinese slowdown, as China is worth £70m to the UK pigmeat industry and less demand from across the world, leads to the scenario which has occurred, British Pig farmers losing around £7 a pig.

Government intervention must happen to stop the UK industry dying and Britain relying on imports to satisfy our pork needs.

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Shareholder activism: Yahoo board under attack from activist investor Starboard

Shareholder activism: Yahoo board under attack from activist investor Starboard | year 13 AQA economics | Scoop.it
“ Activist investor Starboard Value calls for replacement of entire Yahoo board after its "dismal performance".”
Via Geoff Riley
Mr Jones's insight:
Can shareholders ensure that the firms they own make decisions in their interest. How much power over behaviour do they have?
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Geoff Riley's curator insight, March 27, 3:23 AM
A good example here of activist shareholders seeking to hold management to account and pressurise a heavily-loss making firm to make changes at executive level. Starboard only own 1.7% of Yahoo but is trying to pinch above it's weight. Activist shareholders are one approach to overcoming the principal-agent problem. 
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EU Referendum, The Bottom Line - BBC Radio 4

EU Referendum, The Bottom Line - BBC Radio 4 | year 13 AQA economics | Scoop.it
Life after a Blockbuster
Mr Jones's insight:
Good to hear a programme totally devoted to businesses 'on the ground' rather than politician's sound bites surrounding UK future and the EU. Presenter Evan Davis suggests there my be less argument in the show; actually it turns out there is plenty of direct contradictions, as you'd probably expect. For me, the best evaluative point that comes across very well is that no one can be absolutely sure surrounding developments should we vote to leave.  How long it will take, and the exact nature of new trade agreements or alteration to regulations, is key.  This 'lack of concrete information' in this area is similarly mirrored by exaggerated politician's claims about impact on gdp, and by implication, our average income levels.
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UK water regulator backs plan to open up market

UK water regulator backs plan to open up market | year 13 AQA economics | Scoop.it
Ofwat says utility provides ‘analogue service in a digital age’, and deregulation would boost innovation and cut bills
Via Matt Smith
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Which is the biggest music streaming service on the web?

Which is the biggest music streaming service on the web? | year 13 AQA economics | Scoop.it
“ I'm pretty sure if I ask this question in my economics class, then the answer will be Spotify! Indeed a quick show of hands a few days ago revealed that, not on”
Via Geoff Riley
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Geoff Riley's curator insight, September 18, 7:16 AM
I'm pretty sure if I ask this question in my economics class, then the answer will be Spotify! Indeed a quick show of hands a few days ago revealed that, not only did most students use Spotify regularly, the majority were now paid-up subscribers, joy to the ears of Spotify founder Daniel Elk! But perhaps Spotify's near 40 million user base looks small compared to the number of listeners to music available on You Tube?
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Hinkley Point: UK approves nuclear plant deal - BBC News

Hinkley Point: UK approves nuclear plant deal - BBC News | year 13 AQA economics | Scoop.it
The government approves the new £18bn nuclear power plant at Hinkley Point and says it will introduce "new safeguards" to future projects.
Mr Jones's insight:
Great story illustrating a number of efficiency issues in the product market. Long run investment decision making needs an absence of too much uncertainty. Government trys to reduce uncertainty by allowing a long term guaranteed minimum price for the electricity generated at this new plant. But is the price unrealistically high - especially as EDF are happy with a significantly smaller guaranteed price for their new plant in France. Equally significant is the fact that the UK producer will be owned by foreign governments. The fact that UK government seem to have accepted further Chinese investment as a condition for going ahead with this one is also interesting. 
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Annual Survey of Hours & Earnings - Occupation

Mr Jones's insight:
Occupation Earnings Waiters and waitresses £12,507 Bar staff £12,948 Hairdressers and barbers £13,373 Kitchen and catering assistants £13,396 Launderers, dry cleaners and pressers £13,767 Retail cashiers and check-out operators £13,911 Playworkers £14,023 Cleaners and domestics £14,164 Nursery nurses and assistants £14,305 Other elementary services occupations n.e.c. £14,575 Occupation Earnings Aircraft pilots and flight engineers £90,420 Chief executives and senior officials £81,521 Air traffic controllers £79,874 Medical practitioners £71,141 Marketing and sales directors £70,742 Information technology and telecommunications directors £64,511 Financial managers and directors £61,108 Senior police officers £57,896 Financial institution managers and directors £53,621 Senior professionals of educational establishments £50,367
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Gender Pay Gap in UK remains high | Economics | tutor2u

Gender Pay Gap in UK remains high | Economics | tutor2u | year 13 AQA economics | Scoop.it
The gap between the average hourly wages of men and women in the UK remains high despite equality legislation, according to a report out by the Institute of Fin
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Schools 'struggle to recruit teachers' - BBC News

Schools 'struggle to recruit teachers' - BBC News | year 13 AQA economics | Scoop.it
“ Head teachers in England say schools face a deepening problem in recruiting enough teachers.”
Via Phil Hensman
Mr Jones's insight:
Where the sellers - in this case potential teachers in subject shortage areas - have some influence over the market they may enjoy monopsony power
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The overseas takeover of British tech star ARM will be the first of many fuelled by the Pound's plunge

The overseas takeover of British tech star ARM will be the first of many fuelled by the Pound's plunge | year 13 AQA economics | Scoop.it
    It is the British technology superstar most people have probably never heard of. iPhone chip designer ARM Holdings won’t be British for much longer.  The Brexit aftershocks had barely started rumbling when Japan’s SoftBank picked up the phone to ARM’s Cambridge HQ. 
Mr Jones's insight:
What does the ARM takeover by a Japanese conglomerate tell us about Britain in the post Brexit era. Will a lower value of sterling encourage more foreign ownership. If so is the promised growth (including employment) of UK ARM operations likely to be typical for other UK businesses that may be acquired?
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Contestability and Elasticity of Demand: GoPro shares plunge 28% on revenue forecast

Contestability and Elasticity of Demand: GoPro shares plunge 28% on revenue forecast | year 13 AQA economics | Scoop.it
“ Shares of GoPro fall as much as 28% in after-hours trading after the wearable camera maker announces revenue forecasts below expectations.”
Via Geoff Riley
Mr Jones's insight:
Decisions about price have important revenue implications
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Geoff Riley's curator insight, January 15, 3:44 AM

Price cuts lower the average revenue from each unit sold. Increasing competition from lower cost producers threaten revenue and profitability at GoPro.

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Price discrimination: Why you should always buy the men’s version of almost anything

Price discrimination: Why you should always buy the men’s version of almost anything | year 13 AQA economics | Scoop.it
“ It's a good principle to live by, based on this new discovery.”
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Geoff Riley's curator insight, January 14, 12:48 AM

Some superb examples here - including the pink scooter that is twice the price of an identical red scooter - gender price discrimination is clearly more frequent than we might expect.

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Lego sales grow by 25% in 2015

Lego sales grow by 25% in 2015 | year 13 AQA economics | Scoop.it
“ Lego has secured its place as the world's best selling toy firm.”
Via Geoff Riley
Mr Jones's insight:
Despite being family owned Lego is the world's biggest toy maker currently expanding its global ambitions.
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Bruce Fellowes's curator insight, March 2, 3:28 AM
The family-owned toy maker Lego has reinforced their position as the world's biggest toy maker and now they are focused on expanding in Asia and also (eventually) in Africa. At present, 80% of Lego's sales are to countries that only contain 20% of the world's children. There is clearly huge opportunity for rapid sales growth in emerging markets - selling more bricks to the BRICS and beyond?
Mike Busarello's Digital Storybooks's curator insight, March 2, 3:04 PM
The family-owned toy maker Lego has reinforced their position as the world's biggest toy maker and now they are focused on expanding in Asia and also (eventually) in Africa. At present, 80% of Lego's sales are to countries that only contain 20% of the world's children. There is clearly huge opportunity for rapid sales growth in emerging markets - selling more bricks to the BRICS and beyond?
Charlie Mack's curator insight, March 22, 8:10 AM
The family-owned toy maker Lego has reinforced their position as the world's biggest toy maker and now they are focused on expanding in Asia and also (eventually) in Africa. At present, 80% of Lego's sales are to countries that only contain 20% of the world's children. There is clearly huge opportunity for rapid sales growth in emerging markets - selling more bricks to the BRICS and beyond?
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Contestable markets and economic efficiency: How your bank is reacting to competition

Contestable markets and economic efficiency: How your bank is reacting to competition | year 13 AQA economics | Scoop.it
“ New lenders may struggle to prise customers away from traditional banks even though their borrowing and lending rates are often much better.”
Via Geoff Riley
Mr Jones's insight:
Evidence about interest rates and new products potentially on offer if new firms are able to challenge the established traditional banks. Does such potentially disruptive behaviour work on the interests of efficiency/consumers.
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Geoff Riley's curator insight, March 28, 4:12 PM
Retail banking is an industry where established companies have hefty market dominance and new entrants such as Virgin Money, Metro Bank and others have barely made a dent thus far. But the UK is also a leading centre of "fintech" which promises to re-shape the retail banking landscape if start-ups such as Zopa and Funding Circle among others can scale up their operations. Already there are signs that commercial banks are changing their behaviour to become more dynamically efficient in the face of smaller but nimbler rivals. This BBC news article explores some of the changes in business strategy - are any of them fundamental? (Disclosure, I am a member of Funding Circle)