Get Ready for the Micro Paper 1 (June 2018)

Here are some topical areas that you might want to focus on in your microeconomics revision ahead of the micro Paper 1. Examiners tend to choose markets and industries where there are demand and supply-side changes and where they can test your understanding of economic efficiency, economic and social welfare and government interventions designed to address one or more market failures.

Check out of collections pages for key study resources in microeconomics

Check out the Tutor2u You Tube channel for loads of short revision videos on key topics

Loads of Economics revision advice in our twitter stream

Don't forget to ACE your diagrams!

Causes of and policies to address water scarcity

https://www.tutor2u.net/economics/topics/water-scarcity

Follow up: https://www.tutor2u.net/economics/blog/the-economic-cost-of-water-scarcity

See also: https://www.tutor2u.net/economics/blog/will-cape-town-run-out-of-water 

Property rights and the tragedy of the commons

https://www.tutor2u.net/economics/topics/tragedy-of-the-commons

Follow up: https://www.tutor2u.net/economics/blog/rhino-poaching-property-rights-and-the-economics-of-trading-horns

Policies to address externalities from gambling addiction

https://www.tutor2u.net/economics/reference/public-policy-issues-and-behavioural-concepts  

Follow up: https://www.tutor2u.net/economics/blog/what-can-be-done-about-problem-gambling

Renewable energy subsidies

https://www.tutor2u.net/economics/reference/synoptic-economics-renewable-energy

Follow up: https://www.tutor2u.net/economics/blog/energy-economics-uk-electricity-use-falls

The market for e-vehicles and e-charging

https://www.tutor2u.net/economics/collections/electric-vehicles

Follow up: https://www.tutor2u.net/economics/blog/electrifying-roads-to-charge-vehicles

The market for drones - positive and negative externalities

https://www.tutor2u.net/econom...

The UK Housing Shortage

https://www.tutor2u.net/economics/collections/housing-market-economics

Follow up: https://www.tutor2u.net/economics/blog/perspectives-on-the-uk-housing-crisis

Price capping in the UK energy industry

https://www.tutor2u.net/economics/reference/economics-of-an-energy-fuel-price-cap  

Follow up: https://www.tutor2u.net/economics/blog/could-an-energy-price-cap-stifle-competition 

Economics of a carbon tax versus carbon trading

https://www.tutor2u.net/economics/reference/carbon-trading-and-carbon-taxes-evaluation-skills

Follow up: https://www.tutor2u.net/economics/blog/chinas-carbon-trading-scheme-set-to-accelerate-demise-of-coal

Policies to address the Plastic Pollution crisis

https://www.tutor2u.net/economics/reference/external-costs-of-pollution-from-plastic

Follow up: https://www.tutor2u.net/economics/blog/negative-externalities-of-plastic-and-government-intervention-to-deal-with-them 

Economics of the sugar tax

https://www.tutor2u.net/economics/reference/sugar-tax-student-essay

Follow up: https://www.tutor2u.net/economics/collections/sugar-tax

Minimum unit prices for alcohol in Scotland

https://www.tutor2u.net/economics/reference/minimum-alcohol-pricing-revision-essay-plan

Follow up: https://www.tutor2u.net/economics/reference/evaluation-minimum-prices-for-alcohol

Minimum wages in the labour market

https://www.tutor2u.net/economics/collections/minimum-wage-and-living-wage

Follow up:  https://www.tutor2u.net/economics/reference/evaluation-of-minimum-wages

The growth of the Gig Economy / monopsony power of employers

https://www.tutor2u.net/economics/reference/the-gig-economy-synoptic-economics-revision-webinar   

Follow up: https://www.tutor2u.net/economics/blog/how-monopsony-employers-keep-wages-down

Digital monopolies and economic welfare (e.g. Netflix, Google, Amazon)

https://www.tutor2u.net/economics/topics/technology

Follow up: https://www.tutor2u.net/economics/blog/should-the-monopoly-power-of-the-tech-titans-be-broken-up

Trade unions and the labour market

https://www.tutor2u.net/economics/collections/trade-unions

Follow up: https://www.tutor2u.net/economics/reference/trade-unions-wages-and-jobs

The Gender Pay Gap

https://www.tutor2u.net/economics/collections/gender-pay-gap

Follow up: https://www.tutor2u.net/economics/blog/update-on-the-gender-pay-gap  

Impact of automation / robotics in the labour market

https://www.tutor2u.net/economics/collections/robotics

Follow up: https://www.tutor2u.net/economics/blog/watch-out-robo-farmers-are-coming 

Rail nationalisation in the UK

https://www.tutor2u.net/economics/reference/economics-of-rail-nationalisation-1

Follow up: https://www.tutor2u.net/economics/blog/why-the-east-coast-rail-franchise-imploded  

Economics of mergers and takeovers e.g. Sainsbury and Asda

https://www.tutor2u.net/economics/reference/evaluating-mergers-and-takeovers

Follow up: https://www.tutor2u.net/economics/blog/dr-pepper-snapple-merges-with-keurig-green-mountain

Business Pricing in imperfect competition

https://www.tutor2u.net/economics/collections/business-objectives

Follow up: https://www.tutor2u.net/economics/blog/how-airlines-price-flights  

Contestable markets - business growth & objectives in music streaming

https://www.tutor2u.net/economics/blog/what-market-structure-best-fits-the-music-streaming-market

Follow up: https://www.tutor2u.net/economics/blog/you-tube-music-takes-on-spotify-and-apple  

Regulation of financial markets to address financial market failure

https://www.tutor2u.net/economics/collections/financial-regulation

https://www.tutor2u.net/economics/reference/financial-economics-regulating-the-financial-system-post-crisis