Macro policy making in turbulent times - a powerpoint presentation from tutor2u:
read more...
Tuesday 15 December 2009
Monday 14 December 2009
Unemployment and the PBR
Check out this resource from The Guardian on unemployment statistics and the Pre-Budget Report.Thursday 10 December 2009
No change at the Bank
Yes it is the first Thursday of the month again and time for the MPC to decide on interest rates and quantitative easing.
Wednesday 9 December 2009
Irish Times
AH Economists heading on the Economics trip to Dublin next week should keep an eye on The Irish Times website. The Irish government announces their annual budget today - widely anticipated to be the most painful in many years.read more...
Image shows Brian Lenihan, Minister for Finance, presenting his 2010 budget to journalists this morning.
Darling's Debt Dilemma
It's Pre Budget Report Day! Here's a fun animation to help you understand the debt dilemma faced by the Chancellor:Thursday 3 December 2009
Thursday 19 November 2009
Tuesday 17 November 2009
Aftershock: The Global Financial Crisis
This is an excellent page from the BBC World Service, tracking the impact of the financial crisis worldwide.Sunday 15 November 2009
Role of the G20
Some articles on the role of the G20 and the multilateral approach to policy.interactive map...
article...
Why is the UK still in recession?
With the eurozone the latest to announce its return to growth, why is the UK still in recession.
read more...
read more...
Wednesday 11 November 2009
Rate of UK Unemployment slowing
Latest ONS statistics show a slowing rate of increase for UK unemployment - the total now stands at 2.46 million.
Monday 9 November 2009
Friday 6 November 2009
Monday 2 November 2009
Monetary Policy Decisions!
The Monetary Policy Committee look set to have an interesting meeting this week as they make their monthly decision on interest rates (currently 0.5%). They key question is will they push for further quantitative easing? Despite Britain's failure to emerge from recession just yet, there are promising signs in housing and retail markets, although inflation remains very low.read more...
Lessons to be learnt from revitalised economies...
The UK is out in the cold, suffering the most prolonged recession in decades and other countries seem to have started their recovery without us! So how do we position ourselves for strong long term growth?
read more...
How close did we come to a major depression?
read more...
read more...
How close did we come to a major depression?
read more...
Friday 30 October 2009
The jobless recovery
With many nations now showing positive GDP growth, it is important to remember that unemployment will persist as firms are hesitant to increase their workforce until they are at full capacity once more.
Thursday 29 October 2009
USA experiences GDP growth once more...
Mostly driven by consumer demand, US GDP rose by 3.5% in the 3rd quarter (annualised rate). Read the Wall Street Journal article here...The BBC website have also published a debate between 2 economists on the future of the US economy.
read more...
Wednesday 28 October 2009
Road to recession
Excellent timeline from The Guardian, tracking the 12 months leading up to January 2009, when Britain officially entered recession.read more...
Also from The Guardian - a timeline of the events from January to October 2009.
read more...
Tuesday 27 October 2009
Which countries are out of recession?
Find out which countries either dodged recession altogether or are currently out of recession and in growth.It's official...
The UK is not out of recession!The Office for National Statistics has calculated that UK GDP continued to shrink in the third quarter of 2009, falling by 0.4%. This makes this recession the longest since records begain in 1955. City traders have criticised economists for over optimistic forecasts, and the value of sterling has fallen on the news. However, these figures may be revised slightly as they are only a first draft.
read more in The Times
read, watch and listen on the BBC
UK likely to be last out of recession - The Guardian
Wednesday 14 October 2009
OECD indicators of recovery
OECD composite leading indicators (CLIs) for August 2009 continue to point to recovery in all major economies. This is an interesting set of indicator values for AH students to examine in more depth.UK Unemployment growth slows
UK Unemployment continues to rise, but the rate of growth is starting to slow, according to latest figures.read more...
Check out this excellent interactive graphic from the Guardian displaying UE trends since 1984.
read more...
Tuesday 13 October 2009
Bank of England reveals return of growth but falling inflation
The Bank of England is beng cautiously optimistic about UK growth but both CPI and RPI continue to fall.
read more...
Press release from the Office for National Statistics
read more...
Press release from the Office for National Statistics
Pound hit by falling UK inflation
CPI has fallen to 1.1%, making it likely that UK interest rates will stay low... which in turn is causing an outflow of hot money... and causing further falls in the value of sterling!!read more...
Thursday 24 September 2009
Protectionist Politics in America?
The Economist has been pretty scathing in their condemnation of Barack Obama's recent restriction on tyre imports from China, labelling the policy: "bad politics, bad economics, bad diplomacy".Wednesday 23 September 2009
CBI warns that UK could be slow to recover from recession
Some mixed signals around in the media at present. The Confederation for British Industry are taking a cautious approach to prospects for recovery.
read more...
read more...
Tuesday 22 September 2009
Fall in sterling
Comments by the Bank of England have prompted a fall in the value of the pound.
read more...
read more...
Wednesday 16 September 2009
Government expenditure
Government spending, the size of our public sector and the challenge of reducing the deficit are big issues for the next election. Check out this excellent graphic from the Financial Times website:read more...
Monday 14 September 2009
America's debate on "big" government.
America seems very confused about the nature of its economic system. Many criticised the government's decision not to rescue Lehman's a year ago, then we a saw an unprecedented fiscal stimulus package to fight recession. Now, republicans are on the streets protesting against "big government" in the form of healthcare reform. Is Obama really trying to move America to the left or is he just bringing provision of this merit good in line with other wealthy economies? Meanwhile, the French are kicking up a fuss over pay and bonus regulation - arguing for more government intervention in the market. Did the financial crisis prove that the capitalist model is fundamentally flawed or is it still the "least worst" system? The debate continues.Friday 11 September 2009
Recession time-line
Follow the world economy from credit crunch to full recession with this BBC resource.
read more...
read more...
Tuesday 8 September 2009
The Bank that Bust the World
Why the collapse of Lehman had disastrous consequences for the world economy. Some intelligent television viewing this week. BBC 2 Thursday 2100 or check out iplayer at a time that suits.
Manufacturing nudges economy towards recovery
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British manufacturing output is on the rise again, mainly due to increased car production. This was helped by government fiscal stimulus in the form of a car scrappage scheme.read more...
Retail recovery hopes were premature
Some good retail growth in the summer had given rise to optimism but recent figures show that recovery is at best fragile.
read more...
read more...
Thursday 3 September 2009
Britain to lag behind other leading economies in recovery
The OECD has released its latest projections for the world economy.
read more...
read more...
Wednesday 2 September 2009
Friday 28 August 2009
Welcome Back!
Welcome back to a new academic year!Use this blog to keep track of key stories of relevance to your SQA Economics course. Advanced Higher students should be paying particular attention as success in the course relies heavily on your ability to relate economic theory to contemporary events. Right now, much of the economics debate in the media is centred on the prospect of recovery from our current recession. Browse the links that follow to get an idea of the posibilities for 2009/10.
The Road to Recovery and the Inflation Target
Speech by Paul Fisher, Executive Director, Markets and Member of the Monetary Policy Committee
BANK OF ENGLAND
read more...
BANK OF ENGLAND
read more...
Meeting the challenges of economic recovery, Andrew Sentance
Speech by Andrew Sentance of the MPC about meeting the challenges of economic recovery.
read more...
read more...
Future for the global economy
Excellent article from the Times on the post recession world order.
read more...
read more...
The bath tub recovery and other comparisons...
What shape might economic recovery take...
read more...
read more...
Friday 1 May 2009
Wednesday 22 April 2009
Budget 2009
The Chancellor has presented his annual budget to the House of Commons. It contains some 
grim projections for growth and government borrowing. Talking points include an increase in tax for wealthy families and a scrapage scheme for old cars, designed to help the motor industry.
read more...
grim projections for growth and government borrowing. Talking points include an increase in tax for wealthy families and a scrapage scheme for old cars, designed to help the motor industry.read more...
Friday 20 March 2009
Manning the barricades...
Who's at risk as deepening economic distress foments social unrest? 
This special range of articles has been put together by The Economist Intelligence Unit.
Monday 16 March 2009
When jobs disappear...
This week's Economist leads with a story on global unemployment. This article examines policy options.
Wednesday 11 March 2009
Philip David Gray Memorial Essay Competition
Essay Title: The effect of the current economic crisis on developing nations. 
Suggested reading below. Approx 1,000 words.
Mr Irvine's Class:
Suggested reading below. Approx 1,000 words.
Mr Irvine's Class:
- Deadline for submission is 1245 Thursday 26th March. We will spend the Thursday double period in ICT room 65. Note: there will be no additonal class time allowed for this specific essay.
- Lessons on Developing Economies are scheduled for Monday 23rd and Wednesday 25th March.
Economic ill winds hit Africa - BBC
The global crisis and the poor - The Economist
Global Economic Prospects - report by the World Bank, December 2008
IMF promises to stand up for Africa - Guardian
ILO - Youtube video
Global Prospects for Economic Growth 2009 - World Bank Video
Friday 6 March 2009
What do you do when aggressive interest rate cuts don't work?
You cut them again (now down to 0.5%) and start some "quantitative easing".
Friday 27 February 2009
S3 Oil Project
Use the following resources for your research on the recent rise and fall in the price of oil:
Tuesday 10 February 2009
The Spectre of Economic Nationalism...!!!
This week's Economist leads with a very dramatic and "scary" piece on the dangers of protectionism. The magazine's editorial team are strong supporters of free trade!
Interest Rates Cut... again!
Monetary PolicyThe Bank of England has cut the interest rate to 1%, its lowest rate ever.
read more...
Tuesday 3 February 2009
Davos warnings on protectionism
World leaders, gathered at the World Economic Forum in Davos have issued dire warnings about the dangers of protectionism.
read more...
read more...
Concern over protectionism in US rescue package
Is Obama's economic rescue package littered with protectionist policy? Could it harm world trade?
read more...
read more...
Dealing with Zimbabwe's Hyperinflation
The Zimbabwean government have just wiped 12 zero's off the value of the currency.
read more...
read more...
Tuesday 27 January 2009
BBC Recession Tracker
Excellent resource from the BBC, enabling you to track important economic data as the recession develops.70,000 jobs slashed worldwide
Unemployment is a lagging factor in any recession, so it likely that job losses will continue to rise until after the economy starts to improve again.
read more...
read more...
Monday 26 January 2009
Return to Protectionism?
International TradeObama's fiscal stimulus package may include a "buy American" clause for building materials and other products. Is this a risk to world trade?
read more...
see graphic...
Thursday 22 January 2009
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