Supply Side Economics

Understanding the LRAS
click here: http://www.youtube.com/watch?v=Xc-zTsVpx2o&list=PL6D9DF329A0D693C6&index=10

Shifting the LRAS
click here: http://www.youtube.com/watch?v=GQs6HSw1WTk&list=PL6D9DF329A0D693C6&index=8

Supply Side Policies - evaluated using AS/AD
click here: http://www.youtube.com/watch?v=v9HEm8w5nL8

13EC Feb break homework

Using Comparative Advantage theory and challenging its assumptions answer Q1 a b c and d from below:

http://store.aqa.org.uk/qual/gceasa/qp-ms/AQA-ECN6-W-QP-JUN06.PDF

Mock Exams

AS Economics

A Level Economics Mocks  

Unit 1:  

12EC c Tuesday 5^th Feb period 1 and 2 – room 3

12EC e (CL) Thurs 7 Feb period 1 and 2 - both groups in room 13 (TG)

Unit 2:

12 ECe Mon 18 Feb period 4 and 5;  both groups in Room 1

12EC c Tuesday 19 Feb period 1 and 2 – room 3

A2 Economics

Unit 3

13EC c Monday 18 Feb period 1 and 2 – start room 71 period 2 room 70

13EC e Wednesday 20^th Feb period 1 and 2 – period 1Training Room

Unit 4

13 EC c2  Mon 25^th Feb period 1 and 2 –  Training Room
13EC c1 Tuesday 26^th Feb period 4 and 5 – Trainin Room
13EC e – Weds 27 Feb period 1 and 2 – room 1

Follow the news - davos

An interesting insight into the world economy from the great thinkers in economics:

http://www.guardian.co.uk/business/economics-blog/2013/jan/27/ultimate-davos-debate-marx-keynes

Euro crisis and the Pound

The following articles in the Economist raise issues about the pound strengthening against the Euro and it likely impact on the UK economy, assuming demand for UK exports is price elastic:

http://www.economist.com/node/21529049

http://www.economist.com/blogs/dailychart/2010/12/europes_economies

However whilst this suggests UK exports might becoming more price competitive in the Euro zone are we likely to see a rise in the value of UK exports. Also given current uncertainty regarding UK membership of the EU what is happening to the pound?

13 EC Consolidation work 21 Jan

Attempt the following questions from data question June 2008; also good for ECON 2 re-sit:

Either provide draft outlines or full responses, we will be going over these questions and 25 mark essay planning next lesson.

Q1

(a) Using Extract A, compare the CPI and RPI measures of UK inflation for the period

2000 to 2006.

(4 marks)

(b)

Extract B (lines 12–13) suggests that ‘low inflation is vital for sustained economic

success’. Explain two economic benefits of low inflation for an economy. (6 marks)

(c)

Extract B (lines 15–17) argues that, with accelerating inflation, ‘higher unemployment is likely, affecting both the economy and individuals’. Analyse three possible economic effects of higher unemployment.

(10 marks)

(d) Using the data and your economic knowledge, discuss the extent to which increases in the

money supply may increase the rate of inflation in an economy. (25 marks)

http://store.aqa.org.uk/qual/gceasa/qp-ms/AQA-ECN6-W-QP-JUN08.PDF

A2 January consolidation homework

Answer for homework essay question 2b from June 2007 ECN 6 paper; useful for those retaking Unit 2 and for Unit 4 exam.