When we buy a packet of cigarettes for $8, we may think that this is the personal cost. But, a new study claims the real personal and social cost of smoking a pack of cigarettes is closer to $200. pdf of report – Report by Kip Viscusi and Joni Hersch To arrive at these statistics …
Readers Question: what do I need for an interview of “Economics and Management” course or PPE course in Oxford ? I have written one article here with some general advice for preparing for an interview at Oxford For Economics and Managemanent or PPE. I would suggest the additional pieces of information 1. Read Outside Syllabus …
Evaluate the importance of managing aggregate demand (AD) to bring about a sustained reduction in the rate of unemployment in the UK economy. In 1992 Unemployment in the UK rose to 3 million. A significant part of this unemployment this was due to the recession of 1992. In a recession, demand deficient unemployment will increase. …
See also: Chinese Economy 2008 For many years the Chinese Yuan was tied to the dollar, however in July 2005 the yuan was finally allowed to break away from the dollar. However, unlike most other currencies, the Chinese government still try to influence the level of the Yuan. They have tried to keep the …
Reader’s Question: What are the importance of economics to a business student? There is a strong overlap between business and economics. A Business student needs to take into account these various aspects of Economics. At various times I have taught Business Studies in addition to Economics. Several topics are the same. These are the key …
Readers Question: Critically evaluate the argument for and against the likelihood of an imminent house price correction in UK ? House prices in the UK have risen much faster than inflation; in the past 6 years average house prices in the UK have more than doubled. This has caused many to speculate that house prices …
Despite rising ticket prices and lower government subsidies, demand for rail travel in the UK is increasing and beating all expectations. Network Rail have published statistics showing that demand for rail services has increased by nearly 45 per cent between 1996-97 and 2006-0. Annual growth is increasing by about 8%. Yet, the DTI is sticking …
In the 1980s, The UK introduced many supply side policies such as privatisation, deregulation, and reform of trades unions. The government also cut the higher rate of income tax from 80% to 40%. It was hoped that these supply side policies would create a productivity boom. The government argued this reinvigoration of the British economy …