econoMAX - Easter 2011 Available

The Easter 2011 edition of econoMAX - our digital resource for AS & A2 Economics - is now available for subscribing schools and colleges. Details of the new articles are provided below.

A Bit of a Classic (Mark Seccombe)
This is the first in a series of articles which will look at the key aspects of the various economic theories. It would seem sensible to begin with the Classical School of economic thought, given that many subsequent theories relate themselves to ideas which have come before.

Walking on a Tightrope (Liz Veal)
Few could fail to be impressed by Helen Skelton, Blue Peter presenter’s daring
tightrope walk between the chimneys of London’s Battersea Power Station to raise money for Comic Relief this spring. Not many of us would chose to be up there treading such a dangerous path, yet that is exactly where the UK economy is – and the Chancellor is hoping that it does not slip down on either side of the fine line he has chosen for it

The care home crisis- An abuse of buying power? (Robert Nutter)
Over the next 25 years the number of over 85s in the UK will double and many in this age group will need care either in specialist homes or in their own home. The increased numbers of elderly people will mean another 18,000 needing care home places compared to today.

Huhne warns of 1970s Oil Shock (Andy Reeve)
Britain is facing a 1970s-style oil price shock that could wipe £45 billion from the UK economy, according to the climate and energy secretary, Chris Huhne.

Destruction = Ingenuity and Productivity (Mark Johnston)
Although earthquakes and tsunamis have caused huge damage and caused significant loss of life, history has shown that the long-term economic impact on both economies might be surprisingly small. In fact, from experience, there are some positives from disasters?

Good cop, bad cop – The role of corruption in development (Mark Seccombe)
Governance, it all seems to come down to governance. It’s a reason which explains unproductive aid, “white elephant” projects, a lack of investment in essential development projects, poor trading practices, overreliance on limited and ineffective economic management. And corruption. I’m sure you have all had the idea of the damaging effects of corruption as an evaluation point drummed into you at every opportunity during the development section of the course.

The Music Industry – Rocking to Schumpeter’s Beat (Mark Seccombe)
Of the many industries to have been affected by the relentless progress of
technology in recent years, few have felt the pressure as much as the music industry. Data from the US shows that the average American now spends only $26 per year compared to $71 in 1999. The digital age has brought about the rapid demise of the CD as a music medium with the average spend on CDs falling from $63 to $13 over the same period.

The Tea Party Movement and public choice theory (Robert Nutter)
When American rebel colonists threw three shiploads of tea into Boston harbour in 1773 this protest against Britain helped to ignite the American War of Independence and the creation the United States of America. The protest was related to the taxing of tea which was one of the provisions of the Tea Act passed by the British Parliament.