Monday, 12 October 2009

Resource materials

Earlier in my 'blog history' I described how I will be using Mind Maps and textbooks, my tutor, the internet etc to learn.

I have also been shown this video - which, although a little fast, is useful for revision. Personally I'd have thought a clearly introduced schedule and logical development along this schedule, would have been a better way to proceed, but it takes all sorts.

I have a heavy cold and thus have not been positng as much as I would like. I have been doing many many multiple choices questions on elasticity etc. I have also been reading the paper and watching the (Economics) news.

My quest continues!

Friday, 9 October 2009


I didn't post yesterday. That was poor. My mistake.

I didn't forget. I just didn't do it - I was busy doing Maths.

But I recognise the importance so will try not do it again.

Ok what to write about in Economics?

I have been reading about lethal gas being stored under villages. This is a good example of externalities isn't it? The storage (by the government affecting others (the villagers) and maybe even killing them.)

This whole idea of pollution and the treatment of it is an interesting one. Whether to use permits, taxes, advertising, fines, subsidies etc - or maybe all of them.

In that vein I went ot the site to look at the Five Term Paper suggestions. It's a mess to read owing to the advertising, but the Kyoto Protocol section is good. Enough resources there to make you read ahead and round your subject.

I also liked the Economic Impact of SUVs as this is Transport which is paper 3 - IF I decide to do the A2 level in January!

So, in terms of actual chapters: not much.

In terms of 'further reading round and of the subject' - a lot.

Wednesday, 7 October 2009

Supply and Demand

Today I have been practising supply and demand. I did the multiple choice on tutor2u and also the Bized one. My answers were not all right but I understand my mistakes.

I now feel confident with shifts and extensions and contraction etc.

Shift = right = increase
Price change = movement along
Always remember ceteris paribus

Tuesday, 6 October 2009

Bit distracted!

I have spent quite a lot of time today with lessons in Maths and Politics. This has meant that Economics has taken a back seat - sorry!

So I have used my time well - but there hasn't been very much of it.

In my 1 hour I.....

1. Started reading through all of these...

2. Read a couple of articles on the Economy

3. Read through the specification again

4. Glanced at some extensions and shifts (spent about 49 seconds on Tom's video again!)

That is that for today. Time for some leisure.

I am going for a quiet drink with my friends.


Off we go again!

Interesting article about Tesco - do supermarkets gain during recessionary times? This is despite the fact that if you ever go to a supermarket you spend more than in a corner shop?

Is demand for Tesco products income-elastic?

Is there much loyalty or are Sainsbury and Tesco highly cross-elastic?

Given imperfect knowledge in the customer, once inside the shop, assuming credit cards, is demand for most products price elastic or is there a tipping point when you realise that products have gone up?

TV-based competition is concentrating on price comparisons - many goods. Building up an image?

Advertising shifts the demand curve - but also affects the elasticity.

Monday, 5 October 2009

My daily blog

I am standing to attention because I am doing my duty!

I am writing my daily blog.

My journal.

My schedule.

My life.

What should I write about?

Well, this is supposed to be an achieving blog, a motivating blog a 'something-to-be-proud-of-blog' so I will write only about positives.

I have read and made notes on the whole of chapters 1 and (drum roll) two of the OCR book. So I am now an unacknowledged expert on demand, supply, elasticity but also scarcity, specialisation, choice and economic systems.

I have also made a list of all the key words in the AS syllabus (Economics) and will - promise - make sure tomorrow I have written down all the definitions.

I have especially made sure I understand all of this and this and this.

As always I am closing today's blog with news that I have been reading articles from here and here.

I am also very glad tos ee I got Chris's question right

That's it for the day - time for Politics homework!

Task accomplished!

Mock done (rehash of notes)

Mind map done

Chapter 1 OCR Economics - done

Syllabus printed off and key terms highlighted

Read bits of this and this for 'general economic knowledge'.