Unit 4: Globalisation and the UK Economy

It would be really useful if you watched the following presentation and then answered some/all of the following questions to aid your revision. Globalisation WILL come up in Unit 4...it always does. The impact on the UK economy, or indeed, an economy of your choice is an obvious question.

June 10: Q4 - Case study on globalisation
June 12: 􀀔To what extent do the costs of globalisation outweigh the benefits? (30 Marks)
June 13: Assess the effect of globalisation on inequality in the world economy. (20 Marks)



The slides for the above presentation can be found below:

Globalisation & UK Economy 2015 from mattbentley34

Unit 4: Micro financing and development

Thank you to Safiya for this really useful article on micro financing. A good piece of analysis for any essay on alternatives strategies to economic development.

Please take time to read.

Unit 3: Supermarkets investigated by the CMA

Thank you to Luke for this excellent article on supermarkets. The competition regulator is to scrutinise allegations that UK supermarkets have duped shoppers out of hundreds of millions of pounds through misleading pricing tactics.

A classic example of powerful firms exploiting the consumers lack of knowledge (asymmetric information).

Take time to look at what the CMA intends to do about it. It highlights to me one of the evaluative points you can make about regulations....it takes forever! In the meantime, the supermarkets can go on exploiting consumers, or decide not to whilst the investigation is ongoing, therefore avoiding fines, leaving them open to continue exploitation in the future!

The article also highlights the issue of monopsony power in the supermarket industry, with 1400 suppliers facing bankrupcy!

All Units: Sample assessment material - Question papers & mark schemes

A few of you have asked for the mark scheme from the mock paper. The paper was taken from the sample assessment material. I have attached the file below. Please take some time to check the mark scheme for unit 4, before asking me to go through your essays.

Thank you

Sample economics papers with mark scheme from mattbentley34

Unit 4: Balance of Payments webinar

Please find a really useful webinar explaining the key aspects of a country's Balance of Payments and explores the policy options for dealing with a current account deficit. (many thanks to tutor2u for the presentation. 

Unit 3: Examiners report - January 2013

Attached is the examiners report on the mock exam case study questions. Please read and note down any questions you may have for tomorrow lesson.

 

Examiners report: Jan 13 from mattbentley34

Unit 4: Iron Ore price falls - Primary Product Dependency - Australia

Click here to access an interesting article on Iron ore prices and how it is affecting the Australian economy.

This is an excellent example of the issues with primary product dependency.

Unit 4: Two Articles for the price of one!

Thank you to Carys for this article on the UK current account. Really useful in explaining why we have a high deficit and also why it may not be that important....excellent evaluation on the question, 'Does a current account deficit matter'.

This second article comes straight from me. (Click here) The end of milk quotas is linked to protectionism, free trade, comparative advantage.

Please take some time to read them....and other articles as well.