Ignatian Economics

Lower Sixth : Investment

2012-02-10T10:03:00.000Z

BBC News - Johnstons of Elgin plans £1m Hawick mills investment:

'via Blog this'

Lower Sixth Economics : Quantitative Easing Explained

2012-02-09T22:37:00.001Z

Lower Sixth Homework : Paradox of Thrift

2012-02-08T16:06:00.000Z

Dear Lower Sixth

Well done today on learning so much. Easy HW for you.

1) Find out what is meant by the Paradox of Thrift
2) Find out which economies have the biggest savings ratios.
3) look at this graph here. Does this support the claim that Paradox of Thrift has occured since the global recession

4) QUIZ with chocolate prizes on Friday on circular flow and consumption

The weekend is nigh.......

Facebook CIA Project: The Onion News Network

2012-02-08T09:42:00.001Z

Facebook CIA Project: The Onion News Network

2012-02-08T09:42:00.000Z

Upper Sixth Homework : Globalisation bad?

2012-02-07T19:20:00.002Z

Dear Upper Sixth

1)Please read the article here

2) Please jot down the arguments against globalisation.

Tomorrow, I would like you to debate the issue in small groups, so please come armed with opinions.

I thank you.

Lower Sixth Homework : The Wealth Effect

2012-02-07T19:08:00.001Z

Paul Daniel's wife asked about another kind of wealth effect!

Dear all,

HW due Weds 8/2

1) Please read over notes on Circular Flow from today's lessons to ensure you understand the example.

2) Use the internet (Economist.com, tutor2u.net, wikipedia, google) to answer these questions:

•How do people hold wealth? What do we mean by a wealthy person?

•What is the difference between wealth andincome?

•Explainwhat is meant by the wealth effect, using an example.

•Bringa unique interesting fact about a wealthy person.

House Prices

2012-02-07T07:05:00.001Z

Nationwide House Prices, annual % change, monthly, UK from Timetric

Lower Sixth Homework : Circular Flow of Income

2012-02-06T17:30:00.001Z

Dear Lower Sixth,

HW due 7/2/12 - 9.50am

1)Read the article below. BE WARNED: I know that some of you are game addicts and that a picture of a scene from COD or Fifa could tip you off the wagon. Be strong. Go to an addicts' meeting. Just stay focused on the HW

2)Draw up a table showing all the injections and all the leakages mentioned.

3)In terms of creating wealth for the UK economy, should the government subsidise this industry? What are the pros and cons.

UK games industry 'hit by brain drain' | Technology | guardian.co.uk:

'via Blog this'

Y12 Macro : Inequality and how it affects society

2012-02-05T12:44:00.001Z

Year 11 Homework : Sustainable Economic Growth

2012-02-03T10:15:00.000Z

Dear Year Eleven

HW due Weds 8/2 - no excuses, please.

Watch the above video and then write three paragraphs to answer the following question:

To what extent should a business measure its success by how sustainable it is?

[you know why that's in green, right?]

Success criteria:

3 examples from the video given
Each point raised has 3 clear linkages
Two different viewpoints are considered
Pros and cons of sustainability from stakeholders' viewpoints are considered
Justification has 3 linkages

Limits to economic growth? Sustainability? Commodity prices, land, water, global economy - Speaker - YouTube:

'via Blog this'

Lagos State: The Green Light to Growth (part 1) - YouTube

2012-02-03T10:10:00.000Z

Lagos State: The Green Light to Growth (part 1) - YouTube:

'via Blog this'

Lower Sixth HW :Essay on HDI

2012-02-03T09:26:00.002Z

Dear EETs

HW due Monday 6/2

1) Use the website below to enrich your knowledge and come up with some more examples of how good/inadequate the HDI is

International Human Development Indicators - UNDP:

2) Evaluate the usefulness of HDI in measuring living standards (12 marks)

Criteria:

3 points plus 3 eval points
uses examples of recent data
considers other measures of development
considers if quality of life is quantifiable
explores living standards vs growth vs development
discusses the benefits of having an internationally comparable index

Human Development Report 2010

2012-02-03T09:26:00.001Z

Lower Sixth Homework : Balance of Payments

2012-02-01T18:24:00.001Z

Thanks for sticking with this topic, gents. And don't forget to pop over to Clive's channel on youtube to listen to his upbeat guide to the Balance of Payments.

Here are the questions from today's lesson. For each one, write how it would affect the Trade Balance, using clear linkages (remember them??). I'm sure help is available on the web from sites such as tutor2u. Please help others by leaving tips and links in comments

1.Strongerexchange rate

2.Lowerincome tax

3.WorseningUK productivity (costs go up)

4.ImprovingUK competitiveness

5.SubsidiesUK computer games industry

6.IncreaseTariffs (tax on imports)

7.Leavethe EU

8.NukeChina

9.GDPincreases

Year 11 : Starbucks Growth Strategy

2012-02-01T13:51:00.001Z

Lower Sixth HW : Migration and its impact on unemployment

2012-01-30T19:19:00.000Z

Dear Lower Sixth

HW due : Weds 1/2

There are lots of contradictory arguments on whether immigration is linked to unemployment, making this a favourite of examiners for an evaluation question.

Draw up a table with two columns - arguments for there being a link and arguments against there being a link. Then watch the video below and read the article below. Fill up the table with what you have learnt

BBC News - Non-EU migration affects unemployment, says report:

http://www.dailymail.co.uk/news/article-2084536/UK-unemployment-Migrants-NOT-keeping-Brits-work.html

'via Blog this'

Rory : dare you to do your presentation like this

2012-01-28T09:22:00.001Z

Lower Sixth Homework : Causes of unemployment

2012-01-28T09:13:00.001Z

Greetings! Three fun activities to keep you amused......

HW due Monday 30/1

Sides of notes on frictional, structural and cyclical unemployment. Look here.
Then write a paragraph explaining which you think is the most serious, fully justifying your view and comparing the one you selected to others.
Revise for 10 mark quiz on Monday. Topics : measuring economic growth, inflation and unemployment

Year 11 Homework : Revision for Topic 3 - Big or Small

2012-01-27T15:39:00.001Z

Dear Year Eleven

Revise these topics really, really well. Start now.....NOW!

Test will be on Thursday 2/2

The topics:

Self-regulation vs government regulation
Internal growth of business
Economies of scale
Disadvantages of growth (diseconomies)
External Growth
Upsides of monopoly power
Role of competition commission

And that's all. Hardly anything! Work hard. Leave questions in comments

Lower Sixth homework - Inflation - the latest

2012-01-25T20:47:00.001Z

Dear all

HW due : Friday 27/1

In 3 parts -

1)Watch this video here.

Draw a mind-map or diagram to show the main reasons why inflation fell.

2)Read this blogpost here

Explain - without copying out the bullet points - why RPI and CPI are becoming further and further apart.

3) Find out what has just been announced about the UK's GDP. In your opinion, is this bad news for the UK economy - develop several arguments to use in a class discussion (just write brief notes)

GDP Growth - starter

2012-01-25T08:25:00.000Z

Economics - Unit 4 Macro: Focus on India - Economic Growth:

'via Blog this'

BBC News - UK inflation rate falls to 4.2% in December

2012-01-24T21:04:00.000Z

BBC News - UK inflation rate falls to 4.2% in December:

'via Blog this'

BBC News - Smartphones and apps added to inflation basket

2012-01-24T20:53:00.000Z

BBC News - Smartphones and apps added to inflation basket:

'via Blog this'

Lower Sixth Homework : Living Standards

2012-01-24T11:31:00.003Z

Dear Lower Sixth

HW due : Wednesday 25th January

To what extent does an increase in GDP suggest a rise in living standards.

Do any essay plan using six paragraphs.
For each of the six paragraphs use real data about OECD countries and developing countries.

Lower Sixth Homework : Economic Growth Research

2012-01-23T15:02:00.000Z

Dear all

HW due : Tuesday 24/1

Good to see some of you today. I know the rest of you will be checking this blog frequently to see what the homework is. Easy one tonight:

Use your internet research skills to find:

1. How much was the UK's GDP in 2010
2. Which economy grew the fastest during 2010.
3. On average how much has the Chinese economy grown over the past five years?

BBC News - Economy tracker: GDP

2012-01-23T09:12:00.000Z

BBC News - Economy tracker: GDP:

'via Blog this'

Labour Markets

2012-01-19T18:47:00.001Z

Satire from the Daily Mash

Thanks, but we have enough money, say tube drivers

Year 11 Homework : Tesco's Dominance

2012-01-13T14:00:00.002Z

HW due : Friday 30th January

This is a creative project for you to make good use of other talents. There is a two week deadline so that you can have time to produce something really excellent and still revise for any exams you might have this month. You may work with others in the class on this project. The title of the project is simply:

Tesco's Dominance

You could:

make a news report, interviewing people
produce a video
produce a map showing how many stores there are in a certain area
draw a cartoon
write poem
compose a song
take photos and produce a montage

Please approach this with enthusiasm to show that there is more to you than just being able to write top-grade answers.

Upper Sixth Homework : Collusion Exam Question

2012-01-10T15:42:00.001Z

Write up the 16 mark question for tomorrow's lesson.

The presentation is in this folder

Lower Sixth : 14 mark questions

2012-01-10T10:26:00.002Z

Dear all

Follow this link to the presentation I did this morning on how to answer the 14 mark question. Included is an example, which is from the January 2009 paper (Question 9c on tuition fees)

Lower Sixth Revision : more material

2012-01-10T08:08:00.002Z

Dear all

I've just put the markscheme for the January 2009 paper in the revision folder for those who want to attempt even more longer questions. The revision folder is here

Lower Sixth Homework : Buffer Stock and Government Failure

2012-01-06T10:10:00.001Z

Dear Lower Sixth

HW due Monday 9/1 to be collected in and assessed

Complete parts (d) and (e) of this exam paper

Make sure that you hand in an answer which is your absolute best effort, so that I can give you meaningful feedback on how to improve your exam technique.

Also, plan the answer in advance, but write it in 25 minutes or less

Lower Sixth Economics : Revision Material

2011-12-23T15:09:00.001Z

Hello all,

Your Christmas weekend starts right here! It wouldn't be a Friday if there weren't some Economics in it.

So, here is the revision folder. It has unit 1 checklist for you to complete once you have done all your revision of the unit 1 material. The most effective revision method is making notes on notes and keeping on reducing the amount of notes down. One way to do this is to use index cards. Also in the folder are the markschemes and sample answers to the past papers which you have. I've also put in the pdf of the exam questions just in case you have lost it.

If the folder is not working, please let me know.

If there is anything I can do to help such as posting material on a difficult topic, just let me know. I am here to help....

Hope you are all making best use of your study leave.

Merry Christmas

Year 11 : Revision Materials for Retakers

2011-12-19T09:37:00.004Z

Dear Ralph, Chris, Andrew, Daniel, Johnathan and John

In this folder are revision presentations, past papers and markschemes.

Any problems, please leave in comments.

I am here to help you, so if you need any help on any topic, just leave a comment.

Lowe Sixth Homework : The Last of the Year

2011-12-17T11:56:00.001Z

Dear Carol Singing Economists

Apologies for the late posting, but it was the Ignatian Economics staff Christmas party and so we were out creating some negative externalities.

HW due Monday 19/12

1. If you need to practise the technique mentioned in yesterday's first learning objective, then you should spend some time bashing away at that. Probably best to practise on your own. Please do not bring in any evidence that you have been practising.

2. You have the answers to questions 1 to 8 of the June 2011 paper, now write the full answers aiming to score the full 3 marks as succinctly as you can. Spend no more than half an hour on this.

3. If you have any suggestions on what we can do for our last lesson on Monday, please leave a comment on this post.

Living Standards : CO2 emissions and GDP

2011-12-14T16:45:00.001Z

Living Standards : South Africa vs Zimbabwe

2011-12-14T16:40:00.002Z

Living Standards : Ghana vs Nigeria

2011-12-14T16:35:00.001Z

Standard of Living

2011-12-14T16:14:00.000Z

Lower Sixth Homework : More Exam Tekkers

2011-12-14T16:11:00.000Z

Dear all,

HW to be completed by Friday's lesson (16/12), which as we all know is the official start to the weekend, is:

Jan 2011 paper. Answer questions 10(a) and 10(b).

Thank you so, so much.

Lower Sixth Homework : Jan 2011 paper

2011-12-13T10:36:00.001Z

complete 9 parts a,b and c

HW due : 14th December

Lower Sixth Homework: Jan 2011 Supported Choice Questions

2011-12-09T13:54:00.001Z

Dear all,

Well done for all those grade As.

HW due my Monday 12th December

1. Finish completing questions 1 to 5
2. Complete questions 6,7 and 8.

So, on Monday, you should bring the answers to questions 1 to 8 , so that we can check your exam tekkers.

Communist Chocolate Hellhole

2011-12-09T10:29:00.001Z

That story we talked about!

Man arrested at Large Hadron Collider claims he's from the future | CNET UK:

"Police said Mr Cole, who was wearing a bow tie and rather too much tweed for his age, would not reveal his country of origin. "Countries do not exist where I am from. The discovery of the Higgs boson led to limitless power, the elimination of poverty and Kit-Kats for everyone. It is a communist chocolate hellhole and I'm here to stop it ever happening." "

'via Blog this'

Evaluation : having differing viewpoints - like this guy!

2011-12-08T11:50:00.000Z

Lower Sixth Homework : Exam Questions

2011-12-07T16:29:00.001Z

Dear all,

HW due Friday 9/12, 11am - when your weekend starts!

It's 28 minutes past 4. I am going to check and double check the spelling of every word and ensure that the questions I want you to do are very clear. In fact, they are pictured above, so you should check the written info below and check that it matches the picture at the top.

The questions are from the past paper sat my your predecessors on Friday 28th May 2010 - 558 days ago.

The questions:

Question 10 parts (a), (b) and (c).

Part (a) has two parts - part (i) and part (ii). The others have one part each, meaning that you will be doing a total of four questions - two for part (a), one for part (b) and one for part (c) - all of question 10 of the May 2010 paper

Lower Sixth Homework : Exam Questions

2011-12-06T18:51:00.001Z

HW due tomorrow

Jan 2010 paper - question 9(a)(ii) - PES of oil
May 2011 paper - question 2 - shift in demand
May 2011 paper - question 3 - increase of consumer surplus.

Please being answers which score full marks to tomorrow's lesson.

I bid you good evening.

Upper Sixth Homework : Regulation

2011-12-04T14:37:00.003Z

Dear Upper Sixth,

Apologies for the late posting. Bigging you up to your parents really took it out of me; I've been recovering ever since.

Read this article here. Using what you have learned about regulation, answer the following question:

To what extent is price-caping likely to improve access to broadband services in the UK?

Success criteria : 3 paragraphs ; each paragraph has a point which is well-developed and has evaluation.

Lower Sixth Homework : Jan 10 question 10

2011-12-04T14:37:00.001Z

abde

Upper Sixth Homework : EU vs INTEL

2011-11-30T11:12:00.001Z

Dear Upper Sixth

I am now officially a scab : I should be withdrawing my labour today in support of the public sector workers' strike, yet here I am setting you those questions to do for homework.

Due : Thursday 1/12

So, here are the questions:

Explain why technology heavyweights end up dominant in their industries
From the example, describe a network effect. Is it an innocent or deliberate barrier to entry?
To what extent is discounting anti-competitive?
Do you agree with the EU's decision to fine INTEL. If so, should the fine have been so large?

Right, back to my strike action

Lower Sixth Homework : Road Pricing

2011-11-26T10:47:00.001Z

Hello! Just recovering from my 15 hour shift yesterday. Great to see so many of you there last night.

HW due Monday 28/11.

Watch this presentation from tutor2u. Then write either a short paragraph or some bullet points to answer these questions:

1. Explain how the negative externalities of road use are internalised by road pricing
2. To what extent has the congestion charge been a success? (advantages and disadvantages)
3. What, in your opinion, would be the best alternative to the congestion charge?

Emissions Trading Scheme Explained

2011-11-25T10:21:00.001Z

The Emission Trading Scheme from miljøstatus.no on Vimeo.

Sweezy's Kinked Demand Curve rap featuring MC Curve

2011-11-24T07:32:00.001Z

As Ignatian Economics expands its global media empire, we are pleased to announce our first signing of an upcoming urban artist, MC Curve........

Lower Sixth Homework : National Minimum Wage

2011-11-23T17:43:00.001Z

HW due Friday 25/11 - 11pm when your weekend starts!

With reference to Extract 2 (of the handout), to what extent might an increase in the National Minimum Wage lead to job losses in hairdressing. Illustrate your answer with an appropriate labour market diagram.

14 mark question.

Evaluation points to develop:

Magnitude
Elasticity of demand for labour
Wage costs as a proportion of total costs
Those paid above NMW
Trainees are exempt
Employ illegally

GDP explained

2011-11-23T13:52:00.000Z

BBC - Learning Zone Class Clips - An explanation of GDP - Business Studies Video:

'via Blog this'

Imperfect Market Information

2011-11-18T08:07:00.000Z

BBC News - Is your broadband up to speed?:

'via Blog this'

Lower Sixth Homework : Asymmetrical Information

2011-11-16T16:09:00.001Z

HW due : 18/11

Asymmetrical information is one reason why markets fail. It is when the seller knows more than the buyer. Geroge Akerlof won the Nobel prize in Economics in 2001 for writing "The Market for Lemons". He asks the question, if someone wants to sell me a second-hand car, do I really want to buy it.

The Undercover Economist explains it well:

Why you can never buy a decent used car. - By Tim Harford - Slate Magazine

1) Read the article and explain why in second-hand car markets there is asymmetrical information.
2) Research and write about another market where this market failure occurs. You could try looking it up on tutor2u

Lower Sixth : Healthcare markscheme and sample answers

2011-11-16T07:33:00.001Z

There are teachers out there who don't copy enough handouts, then promise to put them on the web and then break that promise too. What is the teaching profession coming to?

Link is here

Year 11 Homework : Government Spending

2011-11-12T12:29:00.001Z

HW due Thursday 17/11

A challenge this week

Use this interactive guide to government spending to find out:

1. what is the biggest proportion of government spending on "work and pensions"?
2. how much the government spends on hospitals.

Write three paragraphs to answer the question: "to what extent do you agree with the view that the government should cut back spending on pensions and hospitals?"

success criteria : each paragraph makes good use of economics terminology ; impact of how a reduction in government spending might lead to a reduction in the tax burden is developed using linkages ; issues of fairness are considered.

Lower Sixth Homework : Positive Externalities of Malaria Vaiccinations

2011-11-12T12:02:00.001Z

Dear Lower Sixth

HW due : Monday 14/11

1. At the start of the lesson I shall expect you to be able to draw the two latest diagrams that you have added to your armoury of economics weaponry this week: the diagram for negative externalities and the diagram for positive externalities. You will be expected to do this WITHOUT NOTES.

2. Study the graph above and watch this video clip here then complete these tasks:

list the different external benefits that arise from developing a vaccine for malaria
explain why it is difficult to put a monetary value on this vaccine.
draw a diagram to show how the market fails in its allocation of scarce resources to the production of malaria vaccinations.

Negative Externalities : Pebble Mill

2011-11-08T16:32:00.002Z

Lower Sixth Homework : Test Topics

2011-11-04T18:17:00.000Z

Your third formal assessment will take place on Tuesday 8th November.

Question 1 - 10 marks - the command word is "Assess"
Question 2 - 12 marks - the command word is "Evaluate"

So, both questions will require you to evaluate.

Revise the following topics:

Elasticity as a way of evaluating a change in price or quantity
Magnitude of changes as an evaluation theme
Tax incidence and the diagram
Subsidy diagram

In an uncharacteristic act of generosity, I have put the diagrams that you need to learn onto a Google Doc. You can view them by clicking here

Year 11 Homework : Interest Rates and Inflation

2011-11-04T17:55:00.001Z

Homework is below, but before you get to that there is a game you should have a go at playing. The link is here. Once you have started playing, you will forget all about the latest Call of Duty and become hooked on this.

HW due: Thursday 10/11/11

Target Two Point Zero | Inflation | How do interest rates affect inflation?

1) Follow the link and read the information.

2) Write a paragraph each on these questions:

a) how do interest rates affect asset prices. Give examples.

b) explain the linkages between interest rates and inflation

c) what effect does consumer confidence have on the demand side of the economy.

Success criteria : linkages are explained ; key terms are used correctly ; examples given ; (if you can) include some evaluation

What causes inflation?

2011-11-03T08:13:00.001Z

How does the Bank manage inflation?

2011-11-03T08:13:00.000Z

Lower Sixth Homework : Labour Market Puzzles

2011-11-02T16:58:00.001Z

HW due on Friday 4th November

I haven't forgotten your other HW either; we will go through both on Friday.

You should be able to view the worksheet with the puzzles on here.

If this fails to work, please leave a comment and I will cut and paste the questions onto the blog. Just thought I'd try some new technology: one must always strive to move with the times.

Lower Sixth Homework : Wheat Prices

2011-11-01T16:58:00.001Z

Re-read the article carefully then answer the following exam-style question.

HW due Weds 2/11

Evaluate two likely effects of the most recent price increase (2010) on livestock farmers.

Success criteria : two paragraphs, each has some evaluation and considers other viewpoints, refers to article, utterly brilliant use of economics terminology.

The Eighth Billionth Person

2011-10-29T19:24:00.000+01:00

When we return to school on Monday, the 8 billionth person will be born...... and named by the UN.

This interactive feature from the BBC might amuse you for a few minutes

BBC News - 7 billion people and you: What's your number?:

For those who would like to understand how a booming population affects the allocation of scarce resources, should read this report from the Economist here

'via Blog this'

Defending jobs

2011-10-22T20:43:00.000+01:00

Defending jobs:

Who are the world's biggest employers?

ONE of the biggest headaches for policymakers in many rich countries has been how to create jobs during a period of fiscal austerity and anaemic growth. The private sector has been slow to generate jobs, and government-spending cuts usually end up cutting jobs. And governments employ a lot of people: in our chart of the ten biggest global employers, below, seven are government-run. America's defence department had 3.2m people on its payroll last year, equivalent to 1% of the country's population. China, the world's most populous nation and a big military spender, employs 2.3m people in its armed forces. And the number of people working for the National Health Service in England is equivalent to over 2.5% of the country's population. The three private companies are Walmart, McDonald's and Taiwan's Hon Hai Precision Industry Company, a subsidiary of which is Foxconn, a secretive electronics manufacturer.

Lower Sixth Homework - Subsidies

2011-10-22T20:14:00.000+01:00

HW due Monday 31st October 2011.

Now that the staffing issues have been resolved here at Ignatian Economics Towers, I can publish the overdue homework task, which is based on the lesson last Tuesday. Remember to like this post on Facebook: they've been trying to link to their most-feared rival for years.

Thank you for making this a great half term. You have been a brilliant class to teach.

Evaluatethe likely benefits of the government subsidising bus and rail travel.

Usean appropriate diagram to support your answer

(Jan2010)

10marks

Blood in the Mobile Official Trailer

2011-10-19T08:16:00.000+01:00

The Role of the Price Mechanism

2011-10-19T08:02:00.001+01:00

Subsidising Bus Routes

2011-10-17T17:05:00.001+01:00

BBC News - Charity claims two-thirds of councils aim to cut bus routes:

'via Blog this'

Lower Sixth Homework : rising food prices

2011-10-15T10:07:00.001+01:00

Dear Lower Sixth

Second Mover Advantage : when you wait until one of your rivals make a move, then you make a better move. So, Facebook has had a makeover, now so too has the world's number 1 social network.

A new view here and for those who prefer to do their homework on the 627, there is a new clearer mobile version too.

Enjoy

HW due on Monday 17th October

1) be the fastest to draw consumer surplus on the whiteboard - competition on Monday or Tuesday.

2)

From the BBC and Ch4 video explanations

http://www.bbc.co.uk/news/business-12124632 BBC
http://www.channel4.com/news/world-food-prices-hit-all-time-high Ch4

Anforme has a blog post on the topic including a nice graphic

http://www.anforme.co.uk/blog/?p=1783

a) Using a S&D diagram, explain why world food prices are rising. (Hint: If you can't do this, then the answer is on this economicshelp posthttp://www.economicshelp.org/blog/economics/food-inflation/ )

b) Using a S&D diagram, explain why the price of cotton clothes are likely to rise

Year 11 Homework : Inflation

2011-10-15T09:58:00.000+01:00

Dear all

Seeing as the world's number 2 website, Facebook, has made some changes, I thought I would too, so a new view here and now a clearer mobile version for those doing their homework on the 617.

HW due Thursday 20th October. Books will be collected in and there should be this and the HW on Productivity.

Watch this video clip about inflation here

1) Explain how inflation is calculated
2) To what extent is inflation more harmful to pensioners than others in society.

success criteria :

1) CPI and basket of goods explained
2) 3 paragraphs ; at least three linkages in each paragraph ; justification is fully justified ; other viewpoints considered ; evidence of other research.

Collusion and Game Theory

2011-10-09T09:38:00.001+01:00

As we all know Economics can explain everything in the world. Here are some great examples of how game theory and collusion are illustrated by some movie scenes and in Goldenballs

The Dark Knight

A Beautiful Mind

The Good, the Bad and the Ugly

Goldenballs

Year 11 Homework : Productivity

2011-10-07T17:31:00.002+01:00

HW due Wednesday 12th October 2011

BBC - GCSE Bitesize: Efficiency and productivity

Follow the link and study the information
Imagine that you are running an Italian restaurant that is suffering from low productivity. Write three ways you could improve productivity

success criteria : each way is formed into a paragraph ; each paragraph has at least three linkages ; good understanding of productivity shown ; advantages and disadvantages of each way are considered

Your comments, as always, are most welcome

Lower Sixth Homework : Price Elasticity of Supply

2011-10-05T16:04:00.001+01:00

The homework can be downloaded from here.

Cartels and influence on supply

2011-10-04T07:45:00.001+01:00

BBC NEWS | Business | Opec agrees record oil output cut:

HW due Weds 5/10/11 : Research another cartel and explain how their decisions have affected supply

'via Blog this'

Primark sweatshop claims

2011-09-29T08:00:00.000+01:00

Upper Sixth Homework : Second Mover Advantage and Oligopolies

2011-09-28T16:41:00.001+01:00

Dear Upper Sixth

Watch the video above.

1)Explain how T*sco gained its second mover advantage in South Korea

2)Use their website to list ways T*sco use non-price competition to win market share

3)Using the characteristics, explain why Supermarket retailing is an oligopoly.

Right, that's me off to go out and enjoy the sunshine. I'd hate to be stuck at home hunched over a computer doing my homework and having to watch videos about that supermarket.

Lower Sixth Homework : PED Calculations

2011-09-26T16:13:00.002+01:00

Due : Tues 27th Sept

A) quantity 100 to 120 ; price £5 to £3
B) quantity 20 to 25 ; price £8 to £7
C) quantity 12 to 16 ; price £3 to £0
D) quantity 150 to 200 ; price £12 to £10
E) quantity 45 to 45 ; price £6 to £8
F) quantity 32 to 40 ; price £24 to £2

Calculate the Price Elasticity of Demand
State whether the products are price elastic or price inelastic

Lower Sixth Homework : Price of Football

2011-09-24T11:01:00.001+01:00

Read the report on the price of football here.

Using as many economic concepts as you can, and at least one demand diagram,

1)explain why there are such price differences
2) evaluate which are the strongest factors in determining the demand for football tickets

Division of Labour

2011-09-24T10:41:00.002+01:00

Dear Lower Sixth,

Remember when I asked you to write questions on yellow post-its. Well, one of the questions was about a lack of disadvantages about the division of labour. Here, from tutor2u, are a few more for you to add to your notes.

Year 11 Homework : Positive Externalities

2011-09-24T10:37:00.003+01:00

For your betterment, please complete the following by Monday 4th October:

find out about the flu vaccine, who it is for, who is entitled to it:

www.immunisation.nhs.uk
www.bbc.co.uk
www.google.co.uk

Write two sides:

the reason for the introduction of the vaccine
an examination of the positive externalities that occur as a result of the flu vaccine on at least two stakeholder groups
a justified recommendation to the NHS for whether they should provide a free-of-charge vaccine for all.

success criteria : evaluation everywhere, use of key terms (opportunity cost, externalities, stakeholders), paragraphing, full explanations)

Negative Externalities : Chewing Gum

2011-09-21T14:14:00.000+01:00

BBC NEWS | Scotland | Calls to ban chewing gum:

'via Blog this'

Free Market and Mixed Economies

2011-09-17T11:01:00.000+01:00

Dear Lower Sixth,

Here is some more information on the last topic we covered on Friday. It is from a rival's blog. He'd probably be thrilled to get a mention on the world famous Ignatian Economics website.

Link is here

And for those of you who want to go above what you need to know for the exam, here is a collection of essays exploring the philosophical arguments regarding markets, such as do markets erode moral character?

Happy Kids

2011-09-17T10:56:00.001+01:00

Some research from UNICEF on the stuff vs time debate. It argues that if parents were to spend more time with their kids, the kids would be happier. Of course, the opportunity cost of doing so, is less stuff as parents would have to sacrifice time spent at work to do so

The article is here

Lower Sixth Homework : Revision for test on the entire body of human knowledge

2011-09-16T18:06:00.000+01:00

Please leave comments on this post about anything we have covered so far: someone will answer.

Don't forget pajholden on youtube and tutor2u. So, for example if you are stuck on division of labour, type "division of labour site:tutor2u.net" into google and some useful links will appear.

Work hard!

Year 11 - Homework - Stakeholders

2011-09-16T17:59:00.002+01:00

HW due : Tuesday 20th Sept.

Read the following news story

BBC - Newsbeat - McDonald's to display calorie counts on in-store menus:

1. Identify two stakeholders this issue will affect and explain how it will affect them.

2. How will society benefit from fast food restaurants displaying calorie counts.

Success criteria :

Qn1 : three linkages for each stakeholder ; define stakeholder
Qn 2 : two ways are considered ; two linkages for each

BBC News - Kraft apologise over closure of Somerdale plant

2011-09-16T09:22:00.000+01:00

BBC News - Kraft apologise over closure of Somerdale plant:

'via Blog this'

Lower Sixth Homework : Division of Labour at Pizza Express

2011-09-14T16:52:00.002+01:00

Dear Lower Sixth

Watch the video on this page here and using your own knowledge:

1) Describe how Pizza Express use the division of labour, stating advantages and disadvantages of doing so.

2)Research the terms : Primary, Secondary and Tertiary sectors, giving a brief definition of each and an example of each.

Upper Sixth Homework : Barriers to Entry and Business Class Airlines

2011-09-14T16:32:00.002+01:00

HW due 20/9/11

Use the two links below to find out about Skyline.

Research another business class airline which has failed.

To what extent was the failure of business class airlines because of barriers to entry in the industry.

Criteria : One and a half sides ; evaluation in every paragraph ; minimum two barriers to entry considered

Third business airline to New York takes off -Times Online:

http://news.bbc.co.uk/1/hi/business/7453108.stm

Division of Labour

2011-09-12T16:40:00.001+01:00

Economics - Model T Ford and Mercedes-Benz - - specialisation across the ages:

'via Blog this'

Lower Sixth Homework - PPFs and Opp Cost

2011-09-12T16:26:00.001+01:00

This is an exam question. To gain the full 3 marks is difficult as you have to explain every concept that this question covers.

Lower Sixth Homework : The Economics of Health

2011-09-09T16:32:00.000+01:00

Dear Lower Sixth

HW due Monday

1.Watch the video below and add to your notes how this explains the concepts of the basic economic problem and scarcity and choice

2.Find out what 'opportunity cost' means and give two examples. An excellent teacher explains concepts on youtube. Search 'rajholden' and subscribe to his channel!

3.Using the table below, give three examples of opportunity cost using different items on that list. For example : the opportunity cost of complex tuberculosis is a full-time teacher. The examples do not need to be exactly accurate - you can just estimate what the government spends its money on.

If you are stuck, leave a comment - a 'man for others' will answer.

Lastly, if you are really, really keen to find out how the NHS allocates makes these tough decisions, watch this video

BBC News - Appeal to keep NHS leukaemia drug:

'via Blog this'

Scottish NHS Treatment (2011 Cost in £s)

Bone Marrow Transplant £50,817
Skin Grafts for Major Burns Injury £36,567
Kidney Transplant from Cadaver Heart beating donor 18 years and under £32,699
Complex Tuberculosis £30,169
Major Hip Procedures £19,929
Live Donation of Kidney £12,446
Major Burn, third degree or more than 19% TBSA or Affecting Multiple Body Regions without Significant Skin Graft £11,965
Traumatic Amputations with Major CC £4,466
Heart Failure or Shock with CC £4,411
Healthy Baby £1,307
Tonsillectomy 19 years and over without CC £1,193
Asthma or Wheezing £1,035
Sprains, Strains, or Minor Open Wounds without CC £906
Headaches and Migraines without CC £767

Year 11 Homework : Opportunity Cost

2011-09-09T16:27:00.001+01:00

Dear Year 11,

Good to see you back. Make sure you start as you mean to go on, by fully understanding the new concepts as we cover them.

Homework is due Weds 14 Sep

Watch the video below
Write a paragraph explaining how this video is all about the opportunity cost a bloke's time.
Write a paragraph explaining how you personally can use opportunity cost to explain the choice you make with your own time.
Find another example of opportunity cost (on the internet) and explain this too.

Success Criteria : one and a half sides ; uses correct economics terminology ; examples are explained fully ; last example is original or creative.

Game Theory

2011-09-08T20:27:00.001+01:00

Forecasting human behaviour: A practical use for game theory | The Economist:

'via Blog this'

Information Failure

2011-09-08T20:21:00.000+01:00

Interesting posts from Sky news and the BBC explaining how McDonald’s is now offering the calorie content of its meals
http://news.sky.com/home/business/article/16062739
http://www.bbc.co.uk/news/health-14784015

a) What is the information failure in the market?

b) From the evidence in the video and your own knowledge, what do you think the likely effect of Mcdonald’s stating the calorie content of its meals will be?

c) What other actions could the government take to reduce the market failure associated with fast food? Do you think these measures are likely to be more or less effective than the calorie information?

Is Google the new Microsoft?

2011-09-08T20:17:00.001+01:00

Hereunder is an example of how Google is facing more and more pressure about being the perceived one and only search engine.

BBC News - Antitrust regulators raid Google offices in South Korea: