Econ 3 Revision for Stage Test

 

supply side policy

micro economic polices aimed at achieving macro economic goals

• economicsonline notes on ssp
• t2u notes on ssp
• economics help notes on ssp
• s-cool notes on ssp

fiscal policy

monetary policy

macro diagams review

growth and development

 

growth and carbon issues global development (the guardian)


UK Growth

"The National Institute interprets the term “recession” to mean a period when output is falling or receding, while “depression” is a period when output is depressed below its previous peak. Thus, unless output turns down again, the recession is over, while the period of depression is likely to continue for some time. We do not expect output to pass its peak in early 2008 until 2015."

Source NIESR Nov 2013

oecd business cycle clock

Labour Market Review

Govt Intervention and contestability

economicsonline notes + video

Industry Presentations

OFT and Intervention for Cartels

OFT Website + compliance interactive wheel

competition commission website

cartels and game theory

price fixing
lg samsumg 2012

opec

Price discrimination Diagrams

price discrimination presentation

price discrimination worksheet

privatise nationalise

oligopoly

gas prices - oligopoly and price leadership (t2u)

inequality in wealth

 

 

personalised pricing

 

barriers to entry and monopoly

paj holden video



monopoly issues welker + worksheet

yale monopoly notes - extension level

tutor2u posts on monopoly

Competitive Markets

  perfect competition video (holden)

revenue curves perfect v imperfect (Holden)

economicsonline notes

technology 2013

 

Impact of Technology:

1. Process - costs driven down as tech raises productivity Think robots at BMW
2. Product - revenues up or down as new offering create or destroy  competitive edge
3. Barriers - statutory barriers protect markets from new entry think pharmaceuticals.

Past Paper Question Plan

Explain how technological change can affect a firm's costs of production and its methods of production?
15 marks

what do we mean by technological change?

• invention + innovation leads to new products and new ways of doing things usually stimulated by R&D expenditure
• quality and quantity of capital influencing productive capacity
• new opportunities in product markets or dismantling of barriers to entry

two areas of discussion

1. affect on costs
2. affect on methods of production

costs

• definition: payments made to factors employed
• technology reduces costs?
• perhaps technology raises productivity of labour (output per worker reducing variable cost or raises value of output per worker)
• could lower productivity? facebook at work (bbc)
• illustrate lower cost
• may raise fixed costs due to investment costs

methods of production

• technology encorporated into capital
• capital intensive v labour intensive
• knowledge intensive labour (highly skilled and high training requirements) or
• deskilling?
• possibility of scale and scope economies
• 24 hour production 365 days a year
• weakening unions

links

• tutor2u economics blog on technology
• tutor2u notes on technology

presentation on invention and innovation (t2u)

innovation and business strategy




kodak case study
kodak in pictures

kodak bankruptcy

bbc click on kodak (jan 2012)

pearson articles and questions

latimes video on kodak

growth as an objective of the firm

Motives for Takeovers and Mergers from tutor2u

Problems of Takeovers and Mergers including Integration from tutor2u

Factors Influencing the Success of Takeovers and Mergers from tutor2u

Impact of Takeovers and Mergers on Performance of Businesses Involved from tutor2u

Government Intervention in Takeovers and Mergers from tutor2u

Introduction to Acquisitions

View more presentations from tutor2u

worlds biggest companies (the economist)

evan davies on growth

cadbury kraft case study
cadbury kraft


orange t-mobile case study
Orange TMobile (BBC)

Orange TMobile (Channel 4)

government clears orange t mobile deal (ft 05/03/10)




tesco growth and profits

tesco interactive

tesco investor relations

Profit Maximisation 2013

principle agent problem - lehman brothers case study






older material

enron affair (bbc 2002)

enron affair (bbc jan 2002)

nick leeson ten year on (bbc 2004)

Revenue Curves 2013

costs and efficiency essay

"Bigger is better.... Small is beautiful ..... Size does not matter."

Explain how a firm can experience dimisnishing returns in the short run and economies of scale in the long run
(15 marks)

Discuss whether large firms in the UK today are necessarily more efficent than small firms
(25 marks)

economics legacy video competition 2013 result

THIRD PLACE



Presentation engaging but content quality slips as the video progresses

SECOND PLACE


Solid video in terms of content a bit clunky in editing and music detracts from overall impression


FIRST PLACE



Clear and correct content presented with care and imagination to create an impactful piece

Also Worth a mention:

costs in the long run 2013

productive efficiency and economies of scale
Real World Economics - Economies of Scale by Blessed_Hope








united biscuits production line

big is back article (economist aug 2009)

costs in the short run 2013

 

 

cost curves paj holden

tutor2u notes on short run costs

welker nots on costs

diminishing returns

notes of the behavour of costs

costs quiz (bized)

The Car Industry German v British

summer 2013

1. Review recent materials on blog:

• Review material from JCE

           o Europe and the Euro
           o Immigration • Review

• Micro and Macro Preview material
• Review Mini Moulton Trip Material
• Check updating RSS feeds to stay in contact with key micro and macro economics new relevant to A2 Economics.

2. SCP Paradigm Prepare a document that reflects on the themes highlighted in the Structure Conduct Performance Hand-out given to you in week 11:
 “Use Structure Conduct performance as a framework to consider concepts in Econ 3”

 Investigate the car industry, the presentation on BMW on the blog is a good place to start, the document should have sections that relate to:

•  i. Market Fundamentals – supply and demand factors in the car market
• ii. Industry Structure – a consideration of characteristics
• iii. Industry Conduct 1. Objectives 2. Forms of competition –price and non price 3. Evidence of collusion 4. Merger and takeover
• iv. Industry Performance 1. Price and output levels (UK, EU Global) 2. Profit Levels 3. Efficiency and Welfare – Externals? 4. Innovation
• v. Government Intervention

3. Emergent ideas in Economics Choose to ideas and thinkers from the hand-out and develop a resource that summarises the key concept and how it will affect the direction of Economics.

4. Reading:

• a. The Fifty Ideas that shaped business today (ft) in hard copy and pdf link from blog
• b. The World in Figures: Industry in hard copy
• c. The Obama Climate Plan in pdf linking from blog
• d. Recommended Reading Lists are at the back of the UCAS Economics Guide that will be emailed to your parents

5. Follow @ppceconbus on Twitter – there will be a feed of interesting articles uncovered

mini moulton 2013

mini bmw








moulton bikes



other british nichee manufacturers


car chase scences

Macro Micro Review Material summer 2013

key concepts



the international economy



business sectors


the Economy

immigration material jce

bbc how immigration changed Britain



  jce immigration documents:

how immigration has changed britain (bbc)

immigration 1

immigration 2

immigration 3

The UK economy and immigration

eu + euro material

presentation tips for legacy material

how to create a video from a powerpoint presentation



how to create a prezi



importing powerpoint into prezi



adding voiceover to prezi



how to shoot a video using iphone



how to make a claymatic video

essay writing skills

1 referencing and research

2 critical thinking



3 essay structure (first 5 mins)



4 research  developing  evidence

econ 4 revision material

Econ 4 essay plans

Find below some structure and diagrams generated in class

I will edit with exam paper I think it was jan 2012

Hope it makes sense

essay 1

EU companion

EU Economy Study Companion 2012 from tutor2u

Externalities

Externalities provide a goto issue in many econ 3 econ 4 discussions

Market failure + sustainable growth are key themes from micro + macro

Remember the distinction between production (supply) + consumption (demand)

An overview of the source of the externality and the resultant allocative inefficiency should be developed in context before considering policy options

Basic policy pairs are:
Negative - discourage tax + price floor

Positve - encourage subsidy + price ceiling

Easy evaluative tones can be added with elasticity and level of intervention influencing outcomes

Ultimately identifying and valuing external impacts is a difficult (read impossible) process

Government failure should always be referred to to close out the issue
Incomplete info
Unintended consequences
Political bias

econ 3 exam prep

econ 3 mobile phones + macro resources jce

winning bids in 4G licence

battle for 3 place

Macro Overview May 2013

Macro overview from eclements

Environment problem and policy

wolf on climate change (ft may 2013)

Merit and Demerit Goods

ipr policy challenges for a range of issues - youth unemployment, smoking, environment

econ 3 + 4 glossary

euro debate - iea perspective

EU or Not EU

Overview Key points:

 •Well over half of UK merchandise trade is with the other nations of the EU single market

•Manufacturing remains a crucial source of UK exports – around 60% of total manufacturing output is exported – the UK is particularly strong in pharmaceuticals, vehicles, high-end engineering products including aerospace

•The UK now runs a trade deficit in crude oil and gas

•Overall the UK runs a large trade deficit in goods (>£100bn in 2011) and a rising surplus in services (>£75 billion in 2011). •Only 3% of UK exports go to China and less than 2% go to India – one of the key aims of macro policy in the coming years will be to increase the share of trade in goods and services that goes to faster-growing areas / regions of the world including the BRIC nations.

Britain inside the European Single Market / European Union

During 2012 it seemed that the suggestion that Britain might leave the EU single market and renegotiate her trade relationships with other EU countries was gaining support. “Brexit” is the media term used when discussing the costs and benefits of such a momentous decision. There are strongly held views on both sides of this debate

Recently Lawson has been vocal about UK exit: (also see twitter feed)

guardian 06 may 2013

daily mail 06 may 2013




 

flanders on eu costs and benefits (bbc april 2013)

a2 macro suggested paragraph structure

Econ 3 Business and the Economic Environment

econ 3 + 4 glossary

living standards and welfare

uk macro latest april 2013

download pdf (t2U)