Year 13: Financial Sector

Make sure you open the links in the following: http://qualifications.pearson.com/content/dam/pdf/A%20Level/economics-a/2015/teaching-materials/The-financial-sector-Theme-4.pdf

Year 13: UK Poverty and Inequality

Poverty in the UK: a guide to the facts and figures; some interesting stats here to get your head around - especially if you click on the 'below 60%' link under Relative Poverty.

https://fullfact.org/economy/poverty-uk-guide-facts-and-figures/

OXFAM wealth inequality report  http://theday.co.uk/economics/criticism-adds-up-over-oxfam-inequality-claim

Macro-Economic History

A fascinating documentary made on the eve of the global financial crisis; with a prescient warning at the end. Essential viewing:

https://www.youtube.com/watch?v=XhdhyQxwFY8

Monopoly - efficiency and welfare.

Worth taking a look at the following Tutor2u resource to refresh yourself on this topic:

http://www.tutor2u.net/economics/reference/monopoly-power-and-economic-efficiency-and-welfare

Welfare economics - illustrate the effect of monopolising a market (do not draw an AC curve).

You need to be able to confidently identify and discuss the question of monopoly and efficiency. As a diagram challenge can you explain and illustrate the following with regards to a monopoly firm:

• Allocative efficiency
• Productive efficiency
• Dynamic efficiency
• Economies and Diseconomies of Scale
• X-inefficiency

Regarding x inefficiency - worth looking at 'too big to fail' in the financial markets:
http://www.tutor2u.net/economics/blog/economics-at-the-movies-too-big-to-fail
http://www.tutor2u.net/economics/reference/financial-economics-financial-market-failure

Natural Monopoly
http://www.tutor2u.net/economics/reference/natural-monopoly
http://www.economicshelp.org/blog/glossary/natural-monopoly/

Price Discrimination - focus on 3rd degree
http://www.economicsonline.co.uk/Business_economics/Price_discrimination.html