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Case Study: The Economics of Tourist Taxes
Tourist taxes, also known as transient visitor levies, are taxes imposed on accommodation or other services used by tourists. Governments across the world implement these taxes for various...
Case Study: The Geographical Pattern of UK Trade in 2023
In 2023, the UK demonstrated varied trading relationships globally, reflecting a shift in the balance of its economic ties. This case study explores the UK's trade data to evaluate the role of key...
Normal and Supernormal Profits Explained - A-Level Economics Mastery
In this video we look at the important difference between normal and supernormal profit and then link both concepts to different market structures.
Brick Walls: Why the UK Housing Market is Out of Reach for Most
The latest figures from the Office for National Statistics (ONS) reveal a sobering truth: the average home in England is now affordable only to the richest 10% of the population. For everyone else,...
Shocks and Shields: How Resilient Is the UK Financial System in 2024?
The Bank of England’s latest Financial Stability Report (November 2024) serves as a masterclass in understanding the delicate balancing act of safeguarding a nation’s economy. Beneath its...
Navigating the Crossroads: UK Economy Outlook 2024 and Beyond
In a new video, Geoff discusses some of the key data on the UK economy in the aftermath of the October 2024 Budget and the election of Trump as US President. Can the UK economy break out of a...
The Economics of Loyalty Pricing: Are Discounts Worth the Data?
Supermarket loyalty pricing, where members pay less than non-members for certain products, is becoming ubiquitous in the UK, accounting for a whopping £5 billion in revenue over just three months...
The Undead Economy: Lessons from a Hypothetical Zombie Outbreak
Imagine this: a bad batch of beer turns into a full-blown zombie outbreak, plunging the UK into chaos. Beyond the gory drama, this scenario—modelled using the National Institute Global Econometric...
Britain’s £7.6bn Hit Song: The Economics of the Music Industry
The UK music industry is hitting the high notes economically, but beneath the headlines of record-breaking revenues lie significant challenges that could disrupt the rhythm of this vibrant sector....
Working but Poor: Why UK Families Struggle Amid Record Poverty
In 2024, the UK's poverty rates have reached their highest levels since the turn of the century, marking a distressing milestone for one of Europe’s largest economies. According to a new report...
Delhi’s Deadly Air: A Breathless Economy Suffocates Under the Weight of Negative Externalities
Thick smog blankets Delhi - India’s capital - trapping millions in a toxic haze of particulate matter, dust, and noxious gases. At first glance, this might seem like a purely environmental issue....
Raising the Bar on Poverty: Why the World Bank’s New Definition Matters
For decades, the global fight against extreme poverty has often been distilled into a simple benchmark: a dollar-a-day. Back in 1990, this metric was used by the World Bank to measure extreme...
Lessons for Growth: Why Schooling Africa's Youth Can Double GDP
Nelson Mandela said it best: “Education is the most powerful weapon which you can use to change the world.” And when it comes to battling poverty, especially in Sub-Saharan Africa, he was spot on....
The AI Revolution and the UK Job Market: Displacement or Transformation?
Artificial Intelligence (AI) is on the verge of changing how we live, work, and interact, especially in the labour market. Tony Blair’s Institute for Global Change has shed light on the expected...
Carbon Giants: How Billionaire Emissions Fuel the Climate Crisis
As global temperatures creep ever closer to dangerous thresholds, a surprising and alarming culprit has come to light in the climate crisis: the ultra-wealthy. According to a recent report by...
Generative AI and Derived Demand
The demand for power to support generative AI is an excellent example of derived demand in economics. Derived demand occurs when the demand for a good or service arises not from its direct use but...
Building a New Future: Can Labour’s Housing Plans Solve the Crisis?
This BBC InDepth article gives an excellent overview of the various factors that feed into the UK housing market and make the achievement of housing targets so difficult. As ever, it's a mixture of...
Chipmaker’s Dilemma: How Protectionism Backfired on the US Workforce
The semiconductor industry is at the heart of modern technology, powering everything from smartphones to electric vehicles. The US has made it a priority to boost domestic semiconductor...
The Hidden Cost of the Cloud: Data Centers, AI, and Mexico’s Water Crisis
The Guardian reports here on fears that the rapid expansion of data centers in Mexico - whilst contributing to their economic growth and creating new jobs - might have severe environmental...
Black Wednesday: A Turning Point in British Economic History
A bit of economic history for you here from William Keegan, who looks back to Black Wednesday, which occurred 32 years ago today. It covers the decision to join and subsequently leave the Exchange...
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