It is getting close to the summer exams, and one reader asked if I had any tips for memorising information. Some things that worked for me Read then close book. I used to read a book, then close and try to remember was is in the closed book. If I couldn’t remember, I’d check and …
At this time of the year, my students are preparing for their exams with a mixture of trepidation, confidence, resignation, hope or fear. The best way to prepare is to simply do one thing at a time. Concentrate on making small improvements and importantly keep practising past papers. Students who just do a bit of …
Readers question: Will a sustained recovery in the UK lead to inflation? A sustained economic recovery could lead to inflation. If economic growth is above the long run trend rate for a prolonged period, if demand grows faster than productivity, then in that scenario we are likely to see rising inflation (rise in the cost …
In 1972, the UK raised the school leaving age to 16. Now there are plans to raise the school leaving age to 18. This means people under 18, would either have to stay in school or receive some kind of vocational training. Benefits of Raising the School Leaving Age Helps to tackle youth unemployment. In …
In the 1960s, a big political issue was the size of the deficit. Not the budget deficit, but the current account deficit on the balance of payments. In recent years, worries about the balance of payments (current account deficit) have slipped from the political and media agenda. However, we have a very strong importance attached …
Readers Question: Can you explain the short-term and long-term effects of Osborne legislating that there must be budget surpluses in any year when growth exceeds 1%, which is almost every year, whilst we have a rather large current account deficit. What will be the effects of this on private sector companies, public investment, households, the …
I drive a lot and so am personally affected by fuel duty. The freezing of fuel duty in the past few years has saved me substantial money. But, as an economist I’m dissappointed the chancellor didn’t increase fuel duty. I did get my wish with a new sugar tax – rather unexpectedly, but I was …
Fiscal rules are attempts by the government to limit public sector debt and annual borrowing to certain criteria. For example, a simple fiscal rule might state a government should have maximum annual deficit of 3% of GDP. Alternative, the government may plan to run zero deficit over the course of the economic cycle. Generally, economists …