Income inequality

I am just covering this topic with my Higher class and found this interesting video. Although American, it poses a lot of the same issues we have here in the UK.

Watch the full episode. See more PBS NewsHour.

Would this cartoon be the same in every country?

Maximise your chances of getting into Uni...

I have been doing a bit of research into Universities offering Accounts, Economics and Business Studies for my new role as a Sixth Year Tutor this afternoon. Having made a note of all the expected entry requirements, I came across this information on the Kings College London website which will make very interesting reading for all pupils thinking of applying this year...and something to work towards during the next academic year to maximise their chances of getting in.

"We look for applicants with an enthusiasm for scholastic activities in general such as reading, debating, theological interests etc. Participation will be valued but achievement in these areas of interest will also be recognised."

We look for applicants who have participated as fully as possible in school, college or community life, making the most of the opportunities available to them and also those who have demonstrated some experience of society beyond their immediate environment.

We look for applicants who have varied extra-curricular interests and enjoy active participation in areas such as sport, music and the arts in general. Participation will be valued but any achievement in extra-curricular activities will also be recognised.

Although we do not require applicants to have been in paid or voluntary employment, we welcome applications from those with any experience of work within a business setting.

What is considered at interview? Communication skills particularly in analysis and debate.

Made In Britain

Just finished watching the first part of what looks like an excellent three part series on manufacturing in Britain. In the first episode, Evan Davis looks at why moving a lot of manufacture to China has not necessarily been a bad thing. I would highly recommend this for both my Economics and Business Management classes. The link to the BBC iPlayer programme is below:

Made In Britain

The Circular Flow of Income....and David Cameron??

My S3 Economics class were given the task of creating a poster to show The Circular Flow of Income - here is the result. Not sure what the David Cameron creation is but if it helps them to remember the diagram, I am happy.

IMF supports UK economic policies

Video from the BBC Economics Editor, Stephanie Flanders, on the IMF's support for the coalition government's economic policy.

Stephanie Flanders Video

Discussion on Chinese economy and culture....over dinner!

I was fortunate to be invited out to dinner by a friend and her Chinese colleague who are currently doing a lot of work in promoting Chinese in the Scottish education system. As an Economics and Business teacher it was a great opportunity to ask a lot of questions on the rise of China and hear a different perspective than the scaremongering one often reported in the media. And to top it off, what a dinner! This was my first experience of a Chinese Hotpot and it is one aspect of Chinese culture I will be glad to embrace.

The economic cuts aren't working, are they?

A really interesting article published in today's Observer on the effects of the economic cuts imposed by the Coalition government. Well worth a read as it looks at the effects of the cuts in government spending on unemployment, etc. and brings together a lot of the things we look at in Higher and Intermediate 2 Economics.

George Osborne's plan isn't working

School leavers lack basic skills

Article

UK let down by poor language skills

The UK is under-represented in EU institutions due to poor foreign language skills an official has reported. Despite the government trying to reverse a decline in language study in schools, it seems this is one supply-side policy that needs special attention.

Read the article

Greece to exit the Euro....

A report suggesting that Greece has raised the possibility of leaving the Euro has led to a fall in the single currency.

Read the article

World Bank in warning on food prices

The World Bank have warned that rising food prices (up 36% on last year), driven partly by rising fuel costs, are pushing millions of people into food poverty (44 million people since last June). Read the full article here

Scotland's economic recovery threatened by rising costs

Interesting article about how the rising costs of materials and transport are undermining Scotland's economic recovery. The Scottish Chambers of Commerce found that the rising costs are likely to be passed on to consumers. Rising costs threaten Scottish economic recovery

BRICS seeking more world influence

Very interesting development occuring at the moment in China where the BRICS countries (Brazil, Russia, India, China and South Africa) are gathering to discuss increasing their influence in the world economy.

One of the items on the agenda is Russia's entry to the World Trade Organisation (WTO) as well as changes to the global financial system. They argue that the current financial crisis illustrates the weakness of the current monetary system with the dollar used as the world's most used currency.

The five countries represent 40% of the world's population and almost a fifth of world growth.

Well worth a read!

BRICS countries meet in China

Anyone....anyone....anyone....! Surely Economics is more fun than this!

Economics Weekly Quiz

Economics Weekly Quiz

Economics Weekly Quiz

Economics Weekly Quiz w/c 25 February

Economics Quiz of the Week w/c 13 February 2011

Click here for 10 questions on Economics in the news!

Real Madrid richest club in the world

Real Madrid have topped the league table of the world's 20 richest football clubs for the sixth straight year. Manchester United lost second spot to Barcelona and their arch rivals, Manchester City, were the big movers, up from 20th to 11th. All the teams in the top 20 came from the "big five" European Leagues - England (7), Germany (4), Italy (4), Spain (3) and France (2).

Deloitte Football Money League

1. Real Madrid: 438.6m euros
2. Barcelona: 398.1m euros
3. Man Utd: 349.8m euros
4. Bayern Munich: 323m euros
5. Arsenal: 274.1m euros
6. Chelsea: 255.9m euros
7. AC Milan: 235.8.m euros
8. Liverpool: 225.3m euros
9. Inter Milan 224.8m euros
10. Juventus: 205m euros

Source: Deloitte: 2009/10

S3 Economics Oil Project

My S3 Economics class have been conducting a research project into the oil market in preparation for the next topic, Costs of Production. They had 3 periods to research the topic, prepare a presentation and report and deliver their findings in a 10-minute presentation to the rest of the class. Here is a sample of their work:

The Divers

View more presentations or Upload your own.

Graduate unemployment at highest for over a decade

Figures released by The Office of National Statistics (ONS) show that ONE in FIVE university leavers who entered the labour market failed to find a job last year. Graduate unemployment is now at its highest level since 1995. While unemployment in the UK has risen from 5.2% to 7.9%, graduate unemployment - graduates available and looking for work but who can't get a job - has risen from 10.6% to 20%.

Full story

UK economy suffers shock contraction

The UK economy suffered a shock 0.5% contraction in the final quarter of 2010. The Office of National Statistics (ONS) reported that although the bad weather had had an effect, growth would still have been flat if its effect had been excluded.

Full story

Economics

Pressure mounted on the Bank of England to raise interest rates as inflation in December jumped from 3.3% to 3.7%, fuelled by an increase in the cost of air travel, fuel, utility bills and food costs.

The recent VAT increase from 17.5% to 20% raises the prospect of a further rise.

For further information on economics stories, click on either the Higher Economics or Interemediate Economics pages of the blog.

The winners and losers on the High Street this Christmas

With the twin problems of terrible weather and the coalition's austerity cuts starting to bite, it has been a tough festive period for High Street retailers. Below is a link to a really cool interactive Monopoly board which shows the winners and losers as their Christmas results are announced this month.

• Interactive Winners & Losers