Using the news

Read- High tax rate harms UK economy :

Good for....:

a. incentives to work

b. brain drain

c. Laffer curve

d. elasticities

e. labour mobility

f. tax evasion vs tax avoidance

Read: Greece to speed up cost cutting

Good for discussing:

a. fiscal austerity

b. Eurozone debt crisis

Read- UK international competitives falls

Good for discussing factors that affect international competitiveness on the A2 course

Read- Childcare costs in UK soar :

Good for ideas on:

a. child poverty

b. labour market immobility

c. supply side policies

Read; - Why is US debt so high? (1) ; (2)

Read- Swiss franc intervention

Good for:

a. Currency wars for 2011-2012 have started early this academic year - protectionism

b. beggar thy neighbour policies

LSE Lectures

LSE Lectures - visit here for videos

Look for the December lecture by Raj Patel.

two reasons:

a. it's a clear and well thought through lecture

b. Because of this.....

How the Conservatives can help you pass your A level

From The Conservatives' website:

"At the end of the Parliament, you will be able to use these benchmarks to hold your government to account over whether our economy is more stable, more balanced and more competitive.

We've set them out in detail on our website so you can see exactly what we're proposing. Then, as you have already done with David on our NHS and education policies, you can ask me any question about our plans for economic growth.

You can also vote on any of the questions that have been submitted, so that next week I'll be able to answer the most popular questions in a live webcast."

So, ask George ANY QUESTION about their plans for economic growth....of course you may not get an answer....unless people vote.

The Demand Curve

Is it true or false to say that Demand 2 is elastic and Demand 1 is inelastic?







It is false - but why?

The Supply Curve

On the left we see a supply curve.

As you can see, the supply curve goes up from left to right.

OK so far?



But.....

As the price rises, there will come a time when a lot of firms join the industry. Surely then the supply curve would flatten out?

Also, as production incrases, firms will get economies of scale - so surely the supply curve will shift to the right?

Thoughts...

Is Economics any use?

Poverty