Market Failure: More on how to reduce congestion - Singapore Style

Click here to access article on Singapore's answer to reducing traffic congestion.

How effective will it be?
What are the economic consequences of the policy?

Minimum Pricing Scheme: Alcohol in the UK

Click here to access an interesting piece on new legislation on the pricing of alcohol in Wales. Lots of economics here, including:

Market Failure
Externalities
Government intervention
Government failure
Impact on different demographics

Is this the way forward? How would you tackle the issue?

Traffic jams and market failure

Click here to access a recent piece in the Guardian about congestion in the UK. It is a real problem with estimates of cost to the economy in the billions!
Classic example of market failure, government failure, opportunity cost, scarce resources, you name it....

Three, must watch movies for economists!

There are hundreds of movies about macro economics and its impact on society and people lives, here are three (academy award nominated) recent ones!

 Also, check out this latest post from the Key.

All Year Groups: Inflation in UK hits a 5 year high

Click here to access an article from the BBC on the latest rate of inflation data! What does this mean for interest rates? What does this mean for pay and living standards in the UK? Why has this happened?

IGCSE - Command Vs Free Market Economies

Bernie Saunders on Trade Unions

Short interview with Bernie Saunders explaining the benefits to society of having strong trade unions.

Labour Markets - Wage determination

The labour market wage determination from mattbentley34

Essay Question:

Although there has been laws against wage discrimination for many years in the UK, women's average wages are still around 20% less than men.

Explain the factors that might account for the continuing difference between male and female earnings. (15 Marks)

Assess the view that increased trade union membership is the best way to raise women's earnings. (25 Marks)

How does this guy compete?

A possible business opportunity for BSAK students?! The clip shows how a budding entrepreneur made some big money by selling sweets in the school playground.

The machines are taking over!

Click here to access an interesting piece from the World Bank! It seems we are all doomed. So lets just not bother with school for today!

Again, I don't just post this for fun. It has a real point behind it. To ensure jobs and living standards improve for all, we need to educate, educate, educate..but where does the money come from?

Labour Market failure, minimum wage and trade unions

This first presentation is a general comment on all aspect of market failure in the labour market. The second two look specifically at theory behind Minimum Wage and Trade Unions, how they affect the labour market and the potential advantages of them to society.

 

Aspects of Labour Market Failure from tutor2u

A2 Micro: Economics of £7 Minimum Wage from tutor2u

Labour market (trade unions) from Eton College

UK competitiveness - More depressing reading

Click here to access yet another article on UK competitiveness. This is now becoming a hot topic in the UK and besides making very interesting reading, it is highly likely to turn up on next summers exam paper.

What does the article suggest the reasons are for the fall in productivity?

What can we do about this?

International Competitiveness - 2017 data is out

This clip highlights how countries become more or less competitive, excellent when looking at supply side economics. The increase in competitiveness does always benefit all. You would need to look beyond the data and evaluate the potential issues of just how a country has achieved its success!

 

Click on this link to explore the data further. Where is the UAE for example and why might this be the case?