All year groups: Post Brexit Britain - Macro economic ideas

Click here for a really interesting article on how the government is trying to ensure the UK economy grows post BREXIT.

Lots of macro economics here, with evaluation points and links to other useful pages discussing the UK economy. What are your thoughts?

Multiple Choice Question - Short Run Cost Curves

Price Discrimination - Railcard in the UK

Railcards offering discounted train travel are to be extended to people up to 30 years old.  Click here to access the article. Links to price discrimination, consumer surplus, short run shut down point.

Oligopoly - Collusion

Oligopoly and Collusion from tutor2u

Fiscal Policy - UK Govt Spending in 2017

The north of England has seen the biggest cuts in government spending over the past five years, official figures show. Click here to read the article. Year 11 - What impact could this have on the main economic objectives?

Oligopoly - Prisoners Dilemma (more game theory)

I doubt we will get to this tomorrow, but for some extra reading, try this.

Oligopoly - Game theory

If you get chance before tomorrows lesson, check out the presentation below. It will help explain why oligopolistic markets tend to have stable (or rigid) prices and why they tend to collude.

Oligopoly - The Kinked Demand Curve from tutor2u

Crowding out - issues with fiscal policy

Useful piece on 'Crowding Out'. A concept used when discussing fiscal policy and some of the disadvantages of governments borrowing to spend.

Degrees that make you rich...bet you love these stats Danny boy!

Click her to access...btw, I bring the average down!

Contestable Markets: Indie coffee shops on the rise!

Click here to access an article discussing the rise of small independent coffee shops. This begs the question, how contestable is the coffee market. There are clearly a few large firms that dominate the market (Starbucks, Costa etc), but do they behave like oligopolies or are they competing as if there is a threat of competition?

This is a typical question on the topic of contestability!

Worried Cornwall (BREXIT county) asks for Government help!

Is this a sign of things to come? Cornwall has called for help from the Government amid fears it will be left without enough people to work its farms post-Brexit. Click here to access link.

This could be a real issue for certain industries. Agriculture and the hotel industry are already feeling the effects of BREXIT, with immigrants coming to the UK to pick cabbages etc at an all time low. The fear is that many sectors in Cornwall rely on European workers and as a consequence will struggle to fill many vital positions. “Broccoli is already lying unpicked in the fields.”

Year 13: Some past question from another exam board

Jan 13 from mattbentley34

Here it is - the latest in the iconic series of heart-tugging Christmas adverts from John Lewis. A rumoured £7m investment for something they hope will have a very short payback period - and perhaps longer-term returns in terms of brand value. An example of game theory in action...check out Marks and Spencer ad as well. It is estimated around 6 billion pounds will be spent on advertising this christmas!!!

John Lewis Christmas Ad 2017 - #MozTheMonster

Here are the previous ads for you to compare!

John Lewis Christmas Advert 2016 - #BusterTheBoxer

John Lewis Christmas Advert 2015 - #ManOnTheMoon

John Lewis Christmas Advert 2014 #MontyThePenguin

John Lewis Christmas Advert 2013 - The Bear & The Hare

John Lewis Christmas Advert 2012 - The Journey

John Lewis Christmas Advert 2011 - The Long Wait

Oligopoly: Concentration ratios - Activity

Click here to access an activity. In the activity there are 6 pairs of firms belonging to markets which are oligopolistic in the UK.  Your task is to match the pairs in the smallest number of incorrect moves as possible.

Fun times!

Underemployment - A real issue for economists

If you are overqualified for your role, are you causing more trouble for your firm than you are worth? 'Underemployment' is a relatively new concept in A Level syllabus, but it is just as important as unemployment. Click here to access BBC article on the subject.

More MCQ's - Marginal Propensity to Consume

MCQ's - Real Vs Actual GDP

Diminishing returns

Diminishing returns (short run):-

As more of a variable factor (e.g. labour) is added to a fixed factor (e.g. capital), a firm will reach a point where the marginal product of labour will fall, thus raising marginal cost and average variable cost.

PPF - The basics

MCQ - Monopoly Pricing

Another MCQ - this time on Monopoly Pricing.

MCQ Practice Questions - Government Intervention in the Market

Some more questions for you to practice on.....

Monetary Policy: UK &Interest Rates - Most anticipated decision in a decade

The Bank of England will deliver one of the most closely watched interest rate decisions since the financial crisis later on Thursday.  Click here to access the article.

Hopefully you will come to class to discuss next week.

MCQ Practice questions - Suuply & Demand

Have a go at these 3 questions - Useful for everyone, including Y10 & Y11.