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