Economics Weekly Quiz | 09 December 2022
Here's our weekly economics news quiz.
Economics of Autarky - Should Countries Try to do Everything Themselves?
Put simply. No. Autarky isn't the way forward and the static and dynamic benefits of trade are, to most people, self-evident.
It is a decision sure to ignite criticism from within and outside the UK. The government has given the green light for a £165m project that is forecast to create about 500 new jobs in Cumbria (a...
The Year 13 Festive Play-Doh Diagram Challenge
I'll be forever grateful to Ben White for his brilliant idea of using Play-Doh to encourage students to make real the diagrams they seem to draw endlessly in Year 13 micro and macro lessons! This...
Knowledge, Prosperity and Economic Complexity: How are They Connected?
Ricardo Hausmann is the founder and Director of Harvard’s Growth Lab and this one hour lecture recorded at the Sante Fe Institute in June 2022 is truly superb. I showed it to my Year 13 economists...
The World Bank are concerned by the fact that next year the world's poorest economies are going to see their debt interest payments rise by 35%.
How Competitive is the UK Economy?
I've just published a short revision video on key indicators of international competitiveness. Whilst exchange rates and relative inflation rates are important, in the video I look at some of the...
Is the UK sleep-walking into a food supply crisis?
Here comes another supply-side shock - with the National Farmers Union reporting that higher feed, fertiliser and fuel costs are going to impact on the supply of energy intensive crops like...
Hearing Aids Merger Under CMA Investigation
As someone who has experienced hearing loss during covid, this economics news is personal. The Competition and Markets Authority are poised to deepen an investigation into the proposed merger...
Can Britain prevent winter power cuts?
There's a cold snap on the way, and it's going to test the supply-side capacity of the UK electricity generation industry. Or are we likely to experience power cuts this winter?
UK Economy - Why are so many people leaving the workforce
Richard Partington writing in the Guardian looks at the current macroeconomic concern with the size of the UK labour force. Since the pandemic, the workforce has declined by 600,000 - students,...
The Human Cost of Amazon's Rush for Speed
Here is a remarkable clip looking at Amazon's fulfilment centres, looking at working conditions and the high risk of repetitive strain injuries with research suggesting that Amazon's employees are...
Market and Regulatory Failure - Are Big Banks Short-Changing Customers?
It seems that UK mortgage lenders were quick to hike two-year fixed rate mortgage rates in the aftermath of the mini-Budget, but that since then, as money market swap rates have fallen back,...
Elasticity of Demand Revision Resources
Here are a couple of revision resources covering elasticity of demand.
Research by food charity Sustain reveals the remarkably low profit margins being earned by the UK's farmer for essential items - cheese, bread, apples, carrots and beefburger. They earn 1p on a...
UK Economy Update December 2022: Watching for Signs of Recession
In this regular video update we look at some of the key stats on the UK to help take the temperature of the economy and assess whether or not a recession is happening and how deep and prolonged it...
Which UK country has the highest student debt?
There are big concerns about the burden of student debt, high interest rates and the cost of loans to the taxpayer. Let’s take a quick look at the figures.
Who are Britain's Biggest Mortgage Lenders?
Housing economics is always topical, and the mortgage market is a key one to study. So, who are the UK’s largest suppliers of mortgage finance for would-be home-buyers?
OFGEM has reviewed the way in which the energy network is being run and have announced that those companies responsible for managing local networks, including Scottish and Southern Electricity...
Sterling and the UK Economy
Another day, another exam essay walkthrough! We've just posted an answer to this question: Assess the view that a depreciation of the pound against other currencies is likely to improve the UK’s...