Readers Question ‘Evaluate two policies which the government might adopt to reduce the male inactivity rate’ Main Reasons for Inactivity in Labour Market Inactivity rates imply that people have left the labour market and are not able or are unwilling to seek employment. According to the ONS, inactivity rates can be caused by: Being a …
It is easy to forget, but, only 5 years ago people were talking about the Euro as if it was doomed to fail. 1 Euro got you 86 cents. 5 years later and 1 Euro is worth $1.48 and people are suggesting the Euro is set to be the next global reserve currency. The Euro’s …
Readers Question: It’s not a good question, but I’ll ask it. Could you explain the differences between Research and Development and innovation? Research and Development involves investment in discovering new technology and increasing capacity of a firm. It could involve technological innovation or improvements in human capital. It usually requires a willingness to forego current …
In the UK, it is currently the exam season and my students are finally thinking of doing some actual revision. These are some tips to make your revision more effective. Be practical. Don’t worry over results or speculate on grades, make small efforts to improve knowledge and exam writing technique. If you make those small …
The price of oil reached another record high yesterday – $125 Brent Crude oil reached $126 US light crude oil reached $128 before setting back to $127 This means that, even adjusted for inflation, oil is now close to the all time high, last reached in the 1970s. What are the reasons behind the Recent …
Readers Question: What would stop the falling dollar? The dollar has been falling for many reasons. These are some of the factors which would stop the dollar falling and lead to a recovery in the value of the dollar. Higher Interest rates. US interest rates have been cut to 0% in an effort to stave …
There is a report in the Times today, suggesting that young people can’t afford marriage – Marriage too expensive But, on the face of it, it is absurd. When people were really poor 100 years ago, marriage rates were much higher. Despite what people may think, living standards have been gradually rising for the past …
Readers Question: Using the data and your own economic knowledge, evaluate the importance of rising productivity in bringing about an improvement in the UK balance of payment on the current account. Productivity is defined as output per worker or output per input. Rising productivity implies that the economy is becoming more competitive and will be …