Monday, November 30, 2009

Unit 1: Scottish government action on sunbeds

The BBC reports actions by the Scottish government on sunbeds

a) What is the market failure with sunbeds?
b) List the actions the Scottish government is taking
c) Why is it taking these particular actions?
d) To what extent do you think these actions will reduce the market failure?

NB: There are other blog posts on sunbeds that you could read/watch to get a broader picture of the issue

Unit 1: Market failure; obesity in Scotland

An article from the BBC reflecting market failure in Scotland

a) What are the private costs of obesity?
b) What sort of market failure does obesity represent?
c) Why this type of market ailure?
d) What actions could the Scottish government take to reduce the market failure?
e) Discuss how successful do you think any government policies will be in reducing obesityin Scotland

Saturday, November 28, 2009

Unit 1: Negative externalities from schoolies week in Australia

A great video from the BBC

a) What negative externalities arise from schoolies week in Australia ?
b) What actions could be taken to reduce the negative externalities?
c) To what extent do you think such actions would be successful in reducing the negative externalities arising from schoolies week?

Monday, November 23, 2009

Unit 2: Protectionism examples

Thanks to tutor2u for pointing out this article citing examples of protectionism

Unit 1: Drawbacks of using indirect taxes to reduce market failure: Pub beer

An interesting video from the BBC

a) What does this seem to indicate about the price elasticity of demand for pub beer?
b) Discuss whether pub closures would indicate the government has been successful in decreasing the negative externalities associated with alcohol consumption

Sunday, November 22, 2009

Unit 1: Scarcity and choice in the health service

The decision by NICE to reject a liver cancer drug is explained here

and the opposing view here

and a personal view, here

a) Discuss whether this drug should be licenced for use in the NHS

Unit 2: Interactive unemployment data for the USA

Thanks to tutor2u for pointing out this resource

a) Play around with the data and then decide who are the worst effected by the declining economy and who are least effected

Unit 1: Externalities in Singapore

Thanks to tutor2u for pointing out this blog with examples of externalities in Singapore

Sunday, November 15, 2009

Unit 1: The price of champagne

Using the article and video,

a) Using a S&D diagram, explain why the price of champagne has fallen

Unit 2: Unemployment: How it's measured

Tutor2u has this article that contains links to articles on the economically inactive and the 2 main measures of unemployment

Sunday, November 08, 2009

Unit 2: The effect of USA tariffs on China's pipe exports

The BBC reports the USA imposing tariffs on Chinese pipe imports

a) Using a diagram, explain the effect on the price of pipes from China in the USA after the tariff has been levied
b) To what extent will this effect sales of Chinese pipes in the uSA
c) What do you think might be the next stap in this trade dispute?

Unit 1: Car scrappage: Subsidies as a means of increasing production/consumption

The BBC reports sales of new cars much higher that the same month last year

a) Using a diagram, explain the effect of the car scrappage scheme on the car market

Unit 1: Government action to reduce smoking

An intersting escalation in govt action to reduce smoking is proposed in Scotland

a) How does smoking lead to market failure?
b) What therefore does any policy regarding smoking aim to achieve?
c) To what extent do you think making it a criminal offence for under 18's to buy cigarettes would reduce the market failure?

Unit 2: Structure and state of the Balance of payments

From economics teacher comes this good summary of the BoP structure

and the UK position

and this from Anforme

Sunday, November 01, 2009

Unit 1: Market failure in the car tyre market

An interesting clip from the BBC showing changing consumer behaviour in the recession

a) What form does government intervention take in the car tyre market?
b) Why does the government do this? In what way would a free market in tyres fail?
c) To what extent is the market failure increasing in the recession