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OCR 2888 - Spanish property slump hits jobs
3rd December 2008
One of the themes of the January 2009 OCR 2888 economics paper is how the bursting of the property bubble in several European countries will feed through into the rest of the macro economy. Spain and Ireland are given special prominent in the stimulus material as students are asked to consider the negative multiplier effects of a sharp contraction in demand, prices and output.
The Telegraph reports today that there has been a steep rise in unemployment in the Spanish economy.
“The figures confirm the spread of the crisis in the property sector, which has left many of the larger construction companies struggling to pay their debts, to the wider economy and the services sector.”
This article is ideal for students wanting to broaden their understanding of this aspect of the stimulus material. Our January 2009 - 2888 revision toolkit resource is now available for immediate displatch.
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.