Yr 6 - Listening to development

I know after today's lessons you'll be better at listening. Why not use your new-found ability to listen to. They're all good and about economics, but the first few the most relevant to what we're studying:

http://www.bbc.co.uk/worldservice/documentaries/2007/12/071227_dollar_a_day_1.shtml
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/6246041.stm
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/6656923.stm
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/4725554.stm
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/4104164.stm

http://www.bbc.co.uk/worldservice/specials/1113_the_aids_crisis/index.shtml

http://www.bbc.co.uk/worldservice/documentaries/2008/08/080812_why_dying_congo_one.shtml
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/6501077.stm
http://www.bbc.co.uk/worldservice/documentaries/2008/09/080905_desert_capitalists_one.shtml
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/6609141.stm
http://www.bbc.co.uk/worldservice/documentaries/2008/07/080722_better_health_two.shtml
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/4104164.stm
http://www.bbc.co.uk/worldservice/documentaries/2008/11/081105_world_without_cows.shtml
http://www.bbc.co.uk/worldservice/documentaries/2008/11/081112_world_without_copper.shtml
http://www.bbc.co.uk/worldservice/documentaries/2008/07/080710_worlds_shifting_balance.shtml
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/7086750.stm
http://www.bbc.co.uk/worldservice/documentaries/2008/07/080704_health_for_all_prog2.shtml
http://www.bbc.co.uk/worldservice/documentaries/2008/06/080625_health_for_all.shtml

Economist Carbon Trading Debate

Have a look at the economist debates. The one on carbon trading should be very useful for year 5 this week.

http://www.economist.com/debate/debates/archive/page:1

Zambia Trade

Have a look at the worksheet below and look at the effect of commodity prices on Zambia's terms of trade

http://www.bized.co.uk/virtual/dc/works/trade.htm

Balance of payments data

http://www.econstats.com/index.htm

Have a look at a country's balance of payments and compare this with its exchange rate data.

Interest rates, exchange rates and Balance of Payments

Let's make sure the basic understanding of the effect of interest rates is sound:

http://www.bized.co.uk/learn/economics/govpol/macropolicies/interest/exchange/index.htm

Exchange rate quiz

Have a look at this to help

http://www.bized.co.uk/virtual/bank/economics/markets/foreign/quiz.htm

Inflationary / Deflationary Output Gaps

http://tutor2u.net/economics/content/topics/macroeconomy/outputgap.htm

Year 5 - Inflation

Could you have a look at the following quiz on how inflation is measured:
http://www.bized.co.uk/virtual/bank/economics/mpol/inflation/causes/quiz2.htm
If you have finished that, move on to look at this quiz. You may need to look at the notes for some of the theories involved:
http://www.bized.co.uk/virtual/bank/economics/mpol/inflation/causes/quiz1.htm

Have fun!

Mr W

Past Paper Links

To all of you who claim you can't find the links to past papers and mark schemes,

Look at the links on the right hand side and you should be able to view all my uploaded items on Google Base

Mr W

Effects of EU on Business

http://www.bized.co.uk/educators/16-19/business/external/lesson/euenviron.htm
Tasks 2 + 3, not task 1

Year 4 - WTO and Trade

Let's find out about the WTO!

http://www.bized.co.uk/current/mind/2003_4/031103.htm

Questions are at the bottom of the sheet

Yr 4 - updated links for worksheet

Hi All,

Have a look at these links for the Global strategy:

http://www.us.tuv.com/news/newsletters/MarketAccessTUV_marapr08.pdf
http://www.commercial.hsbc.com.hk/1/2/commercial/home
http://www.hrcomply.com/newsletter/111302/8.html
http://www.pwchk.com/webmedia/doc/1073457835400_cntax_facts&figures.pdf

Year 4 Worksheet

If you haven't got a copy of the worksheet, you can find it at:

http://base.googlehosted.com/base_media?q=hand5957486903613101152&size=8

Mr W

Year 4 - More T5

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/29/cnba129.xml
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/06/cnba106.xml

Year 4 Opportunity cost

Today we'll be having a look over the work you did last week on Heathrow.

Then I want you to have a look at the theory of opportunity cost. It is important when looking at absolute advantage and comparative advantage.

• What is it?
• Why is it applicable to the theory of comparative advantage which we looked at?
• In his recent book, The Three Trillion Dollar War – The True Costs of the Iraq Conflict,
• Joseph Stiglitz says that the Iraq War costs $3 Trillion Dollars. He adds up all the costs of soldier in Iraq, loss of GDP growth, increase in oil price etc. Using the theory of opportunity cost, explain how these numbers, whilst correct in accounting terms are not correct in economics terms (hint: what was the alternative to the Iraqi War?)
  

Year 4 - Heathrow Terminal 5

Apologies guys for not being there this morning. Could you have a look at the following:

http://news.bbc.co.uk/1/hi/uk/7322453.stm

"Dozens of flights in and out of Heathrow Airport's brand new £4.3bn Terminal 5 have been cancelled and staff are dealing with a backlog of 15,000 bags and unhappy as the baggage-handling system broke down."

Who are British Airways stakeholders? How have they been affected? What responsibilities does British Airways have? What strategy would you propose to deal with the crisis?

Mr W

2007 Past Papers

Hi All (particularly),

For your revision, have a look at:

http://base.google.com/base/a/1543614/D6653599756567587448

and

http://base.google.com/base/a/1543614/D1191878590905879118

Have a good Easter and happy revising! - Year 6, it would be very good to see you after the break...

Mr W

Big Bear

Do you know about Bear Stearns? If not look at:

http://news.bbc.co.uk/1/hi/business/7299938.stm

Once you do know about it have a look at:

http://www.economist.com/blogs/freeexchange/2008/03/bearly_afloat.cfm
Importantly, look at the comments below.

The Ethics!

Should governments help out failing companies? Why?
Is this a form of nationalisation and socialism? What does that mean? Do you agree with it?

Vodafone report

Could you have a look at:

Vodafone report

Mr W

IB Resources

For those of you still searching for past papers, mark schemes, syllabus etc., I think the link below should take you to all the things I've uploaded.

http://base.google.com/base/search?authorid=1543614&hl=en&gl=US

Have fun!

Mr W

Yr 4 Presentation

The great Business Ethics Presentation:

http://tigger.uic.edu/~amp/350lec5.ppt

Yr6 Coversheet

Please use the cover sheets at:
http://www.2shared.com/file/2882052/5924ba40/IB_Economics_Portfolio_coversheet1.html

and

http://www.2shared.com/file/2882175/f4b42756/COMMENTARY_COVERSHEET2.html

Playing Games

I don't like suggesting that you should play more computer games, but I read about EVE Online. It's an online muliplayer role-playing game. Personally, it's too much money to start spending on games. It does look at economies and how prices, supply and demand change over time. Apparently there are a lot of executives who play it. If anyone does play, I'd be interested to know what you think about it all:

http://news.bbc.co.uk/1/hi/technology/7256069.stm
http://www.eve-online.com/

Year 5 Coke vs Pepsi

Coca-cola and Pepsi have never loved each other. If you look at the youtube links below, you can see how they go for each other quite directly in adverts from the 1980s. No one seems to explicitly mention competitors in adverts today, but check out the videos and links about "New Coke":

http://www.youtube.com/watch?v=5vw2g5zR9PY
http://www.youtube.com/watch?v=qfhFBTL-Xsw
http://www.youtube.com/watch?v=8_hvOBnsirI&feature=related
http://www.youtube.com/watch?v=mB2WW7q0ghw&feature=related

Year 6 - Free trade!

I'm not the biggest fan of Mr Mandelson, but hot dang, he's actually said something worth listening to. He made some interesting points saying free trade is the best way to allieviate poverty:

http://www.economist.com/blogs/certainideasofeurope/2008/02/we_all_live_in_the_global_mark.cfm

More Year 5 Market structures

If you've looked at price discrimination, have a look at:

http://tutor2u.net/quiz/economics/jbc_econ_monopoly_1.htm
http://www.bized.co.uk/learn/economics/qbank/firms5.htm

Year 5 Price Discrimination

I'm sure you'd all love to have a look at http://www.bized.co.uk/virtual/vla/price_discrimination/index.htm

Mr W

More Year 5 standard links

For the "standard" students, have a look at the following quizzes (you'll find links to notes on the site as well if you need to)

http://tutor2u.net/quiz/economics/jbc_econ_basicconcepts_1.htm
http://tutor2u.net/quiz/economics/jbc_econ_pricetheory_1.htm
http://tutor2u.net/quiz/economics/jcross_econ_demandsupply_1.htm
http://tutor2u.net/quiz/economics/jcross_econ_demandsupply_2.htm
http://tutor2u.net/quiz/economics/jbc_econ_priceelasticity_1.htm

Year 5 Standard Level

If you're definitely taking standard level economics, could you have a look at the notes and worksheets below:

http://www.bized.co.uk/learn/economics/markets/mechanism/interactive/part1.htm
http://www.bized.co.uk/learn/economics/qbank/markets4.htm
http://www.bized.co.uk/learn/economics/qbank/markets1.htm

http://www.bized.co.uk/educators/16-19/economics/markets/presentation/surplus.ppt

The first three things are on demand and supply. The other is on consumer / producer surplus

Have fun!

Mr W

Externality links and monopoly links

If you're still struggling with some of these ideas, you may want to have a look at the following resources:

Market structure: http://www.bized.co.uk/learn/economics/firms/structure/index.htm
Market failure: http://www.bized.co.uk/learn/economics/marketfail/characteristics/index.htm

More presentations:http://www.tutor2u.net/economics/presentations.html

Some quizzes to test yourselves on:http://www.tutor2u.net/quiz/economics/default.asp
and related notes: http://www.tutor2u.net/economics/revision-notes/index.html

Good luck!

I want a good grade at IB!

...then have a look at the following macroeconomic commentaries.

http://www.economist.com/blogs/freeexchange/2008/01/enough_with_the_stimulation_al.cfm
http://www.economist.com/blogs/freeexchange/2008/01/helicopter_ben_to_the_rescue.cfm

You don't need to worry too much about the stock market implications for IB, but ask yourself

• What shape you think the writers would draw the AD/AS curve?
• What do they think about the Phillips curve?
• What is NAIRU?
• Can fiscal policy get an economy out of an economic slump? What are the risks in using fiscal policy?

Scroobius Pip

http://www.youtube.com/watch?v=yoN6XfyQsr4

More Year 4 PBL

Notes from the first class:

Angels - There was some good work going on. The group did seemed divided at times, though. Started to lose a sense of purpose towards the end of the lesson.

Fertilisers - Slow to start and very disorganised. No real minutes to show from the first meeting.

Janxy - Diligent work and good co-operation.

EOT - Purposeful in approaching the task. Good chair and secretary.

You may also want to look at the films (some of which are in the library) Thank you for Smoking, The Corporation, The Insider, A Civil Action, The Rainmaker. Hurry, though, as other groups will be after the same films! You may also want to download the following podcasts:
http://www.management-issues.com/2007%2F10%2F17%2Fpodcast%2Fthe-working-week-25.asp
http://www.business-ethics.com/goodcompany
http://www.podcastdirectory.com/podshows/238573
http://ethicalstl.org/libraryaudio.shtml
http://communityradio.coop/Podcasts/default.asp#ethicsmatters
http://podcastalley.com/podcast_details.php?pod_id=32497

Year 4 Problem Based Learning

Now that you are in your groups, I will assign you your problem. The basic problem can be found at:

http://www.bized.co.uk/current/pbl/2006_07/050307.htm and http://www.bized.co.uk/current/pbl/2006_07/050307problem.htm

2 groups will be undertaking this. The other 2 groups will look at a similar problem, given below:

Learning Objectives

• 
  At the end of this PBL activity, students might have covered some of the following areas:
  The meaning of 'ethical responsibility' in business
• The meaning of the term 'stakeholders'
• An understanding and appreciation of the responsibilities and conflicts that businesses have to their stakeholders
• The wider effects of legislation and cases brought by those who are affected by a businesses activity
• The nature and meaning of the term 'cost-benefit analysis'
• The extent to which a business should be responsible for the damage they inflict on consumers
• The difference between legal responsibility and stakeholder theory

(some of these are the same, some different)

Ford Pinto

The Ford Pinto was a subcompact car manufactured by the Ford Motor Company for the North American market, first introduced on September 11, 1970, and built through the 1980 model year. It had a similar car sold under the Lincoln-Mercury brand, in the Pinto's case, the Mercury Bobcat first appeared in Canada for 1974, and subsequently in the U.S. the following year.

Through early production of the model, it became a focus of a major scandal when it was alleged that the car's design allowed its fuel tank to be easily damaged in the event of a rear-end collision which sometimes resulted in deadly fires and explosions. Critics argued that the vehicle's lack of a true rear bumper as well as any reinforcing structure between the rear panel and the tank, meant that in certain collisions, the tank would be thrust forward into the differential, which had a number of protruding bolts that could puncture the tank. This, and the fact that the doors could potentially jam during an accident (due to poor reinforcing) made the car a potential deathtrap.

Ford was aware of this design flaw but allegedly refused to pay what was characterized as the minimal expense of a redesign. Instead, it was argued, Ford decided it would be cheaper to pay off possible lawsuits for resulting deaths. Mother Jones magazine obtained the cost-benefit analysis that it said Ford had used to compare the cost of an $11 repair against the cost of paying off potential law suits, in what became known as the Ford Pinto Memo. The characterization of Ford's design decision as gross disregard for human lives in favor of profits led to major lawsuits, criminal charges, and a costly recall of all affected Pintos. While Ford was acquitted of criminal charges, it lost several million dollars and gained a reputation for manufacturing "the barbecue that seats four."

Year 5 Economies of scale

Hi All,

Could you please have a look at the presentation http://www.bized.co.uk/educators/16-19/economics/firms/presentation/scale.ppt and then have complete at the activity:
http://www.bized.co.uk/educators/16-19/economics/firms/activity/scale.htm

Mr W

Year 6 Development Theories

Hi Guys,

Have a look at the related theories and the worksheet below

http://www.bized.co.uk/virtual/dc/works/growth.htm

Mr W

Year 6s Monday 16th

Hi all,

could you look at the following podcasts and make notes about:

Cancun http://news.bbc.co.uk/1/hi/programmes/documentary_archive/6246041.stm

Living on a dollar a day http://www.bbc.co.uk/worldservice/documentaries/2007/12/071227_dollar_a_day_1.shtml

Markets in coffee and cotton
http://news.bbc.co.uk/1/hi/programmes/documentary_archive/6609141.stm

See you later

Mr W

Year 4 Monday 16th

Many apologies all for not being here, but I have to go to the airport. Many thanks as well to the many of you finished work late last night and emailed me (Anna, Josef, Ondrej S, Pavel S, Matej, Martina, Pavel P).

I will be back later today, so you can complete work and hand it to me before the end of today.

You can revise for the test using the links from previous posts. There is plenty to look through!

Jindrich, I still have virtually nothing from you!

Mr W

Year 4 Work for Grades

For the test, you should know (and there are links on the blog for a lot of these things)

Profit and Loss Account
Cashflow Forecasts and statements
Balance Sheets
Ratio analysis
Sources of finance
Ownership of company

I should have work from you on (most of these are on the blog):

Sources of finance activity
Comparing 2 companies accounts with ratio analysis
Nottingham Forest
Manchester Airport / Cameron's balloons
Police Force objectives

I will also be taking into account in your grades other homeworks which will not be graded explicitly, e.g. completing accounts work, making list of companies, objectives and mission statements, finding out data on sectors of industry, completing accounts which we started in lesson for homework. These things are concerned more with helping you to learn rather than assessing your learning. Also, Vit, how often you fell asleep in lessons.

Mr W

Year 4 Revision help

Try these sites for revision

http://www.bbc.co.uk/schools/gcsebitesize/business/
http://tutor2u.net/revision_notes_accounting.asp
http://www.bized.co.uk

Mr W

Year 5 Theory of the Firm

http://www.bized.co.uk/learn/economics/firms/index.htm
http://www.bized.co.uk/dataserv/chron/news/2465.htm