Improvements in Eurozone Competitiveness

In the lead up to the Euro debt crisis, there was a marked divergence in competitiveness within the Eurozone. In fact, some economists suggested that the currency imbalances were the root cause of the Eurozone fiscal crisis. (VOX article) However, recent evidence suggests some restoration of competitiveness within the Eurozone. We can examine competitiveness in …

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How Did Portugal Reduce Current Account Deficit?

Readers Question: Can you tell what Portugal has done to reduce the Current Account GDP deficit so steeply? The reduction in the Portuguese deficit is quite striking. In researching the answer to this question, I came up with a different post – The Portuguese Economic crisis From what I can gather, essentially, the rapid reduction …

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UK Economoy 2006

Introduction – Recent UK economic performance The UK economy is currently growing at an annual rate of 1.6%, it has low inflation close to the governments target of 2.%. Unemployment has risen in the last 8 months but it is still low at 1.4 million (ILO Survey) compared to the last recession of 1992. The …

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Derivation of Monopoly Profit

Suppose a monopolist sells in a market with a demand curve p = a – bQ where p is price, Q is output and a = 25 and b = 2. The monopolist needs to replace its existing plant and machinery and has two choices. The first option is to spend $40 and produce at …

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 Essays on Competition Policy

  Q. Discuss how the Government tries to prevent the abuse of Monopoly power in the UK? (30) Q. Discuss why the govt seeks to block some Mergers and not others Q. How do we define market share? e.g. competition from other countries, other products and new competition Q. Should we have a unitary competition …

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Costs

Diminishing returns Diseconomies of scale Economies of scale Objectives of firms Efficiency Production Possibility Frontiers Diagram of costs Opportunity cost Profit   Profit and revenue Profit maximisation Do firms maximise profit?    

European Union

Background to the EU 1957 Treaty Of Rome established the EEC between 6 original members 1960 EFTA between UK, Aus, Den, Nor, Port, Swiss and Swe 1973 UK, Ireland and Denmark join EC 1999 Creating of Euro single currency. Community Institutions European Commission, this is the civil service of the EU Council of Ministers from …

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Building Societies UK

Building societies evolved in the 18th Century as a way for people to buy a house by pooling savings and mortgages. Many of the early building societies were temporary i.e. the aim was to pay off a mortgage and then close down the building society. However, permanent building societies emerged as more people wished to …

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