Don’t you just love it when Panorama does your lesson for you!- Part 2

It’s amazing- you wait ages for a good Panorama story about Economics and then two come along at once! Read on for information about another useful Panorama programme for looking at competition between the major supermarkets, and the reality behind the ‘price wars’ in the UK supermarket industry.

This week’s Panorama, titled ‘The Truth About Supermarket Price Wars’, has some interesting economics discussed throughout the programme.

I haven’t watched it all yet, but I’m definitely planning on using some of this in lessons next year about Oligopoly and non-price competition. Particularly since this year I struggled to convince my classes that oligopolies don’t generally engage in price competition, with all the massive advertising campaigns going on at the moment and every company claiming to be the cheapest.

There’s also some examples of adverts that have been banned by the advertising standards agency which could be brought into discussions about competition policy, and maybe even cross over into Business Studies lessons too.

Click here to watch on BBC iPlayer, or watch out for some repeats on TV over the next few days- including on BBC News at 8.30pm on Sunday.