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Observatory of Economic Complexity (OEC) – great graphics on global trade

October 9, 2017 1 comment

I picked up the OEC site from Michael Cameron’s blog ‘Sex, Drugs and Economics’. The Observatory of Economic Complexity is a tool that allows users to quickly compose a visual narrative about countries and the products they exchange. It was Alexander Simoes’ Master Thesis in Media Arts and Sciences at the MIT Media Lab. The project was conducted at The MIT Media Lab Macro Connections group. Alex’s Advisor was César A. Hidalgo, principal investigator of Macro Connections. Since its creation in 2010, the development of The Observatory of Economic Complexity has been supported by The MIT Media Lab consortia for undirected research.

The graphics on each country and products are superb and include:

  • Exports
  • Imports
  • Trade Balance
  • Destinations

It also includes Economic Complexity Index which measures the knowledge intensity of an economy by considering the knowledge intensity of the products it exports. Below are some images on New Zealand trade.

New Zealand Exports – 2015

NZ Exports 2015.png

New Zealand Imports – 2015

NZ Imports 2015

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Categories: Teaching visuals, Trade

AS & A2 Revision – How PED varies along a demand curve

September 21, 2017 Leave a comment

Been doing some more revision sessions on CIE AS economics and went through how the elasticity of demand varies along a demand curve. Notice in Case A that the fall in price from Pa to Pb causes the the total revenue to increase therefore it is elastic – the blue area (-) is less than the orange area (+). In Case B the opposite applies – as the price decreases from Pa to Pb the total revenue decreases therefore it is inelastic – the blue area (-) is greater than the orange area (+). In Case C the drop in price causes the same proportionate change in quantity demanded, therefore there is no change in total revenue – it is unitary elasticity. Remember where MR = 0 – PED = 1 on the demand curve (AR curve).

Using whiteboards to teach externalities

July 6, 2017 Leave a comment

In my teaching I am very keen on using whiteboards so that students can get used to drawing graphs and also writing essay plans. It makes it very easy for me to go around the classroom to check on their accuracy and I have to say that the students enjoy the whiteboards even if it does lead to a little doodling. The boards are just over A3 size and are perfect to draw some of the more complex graphs in NCEA and CIE economics. Below are some externality graphs by A2 student Jonathan Ta.

Externalities.jpeg

Behavioural Economics Presentation – download.

April 2, 2017 Leave a comment

Below is a pdf download of a presentation on consumer behaviour that I did for our Yr12 and Yr 13 students last week. It focuses on the following:

Hedonic Treadmil – Paradox of Choice – Algorithms and Choice – Happy Money – Well-being around the world.

Click here to download. I particularly like these images.

Hedonic-TreadmillTV - paradox

Economics website for IGCSE AS A2 and IB courses

April 2, 2017 Leave a comment

Want to learn or need assistance with Economics? Are you studying or teaching A Level Economics, Advanced Placement, or International Baccalaureate (IB)?

Help is at hand, elearnEconomics assists individuals studying Economics. This site covers a wide range of courses and individuals have the ability to customise their course or do extension work. It’s simple, easy to use and very cost effective.

eLearnEconomics is a comprehensive online economics learning resource. It is for both students AND teachers. Students study the concepts of each topic with the key notes, then review those concepts with the audio/video and flash card sections and finally test themselves in the written answer and multi-choice sections. The multi-choice section records student scores enabling them to track their progress and build their confidence leading into exams.

Teachers have the ability to monitor students progess within the teachers’ administration section. Students can be arranged into class groups and full reports generated to quickly identify problem areas. These high quality PDF reports can also be presented at parent/teacher evenings. Click the link below to access the site.

elearneconomics

Screen Shot 2015-10-07 at 9.00.18 PM

A2 Worksheets – Perfect and Imperfect Labour Market

August 24, 2016 Leave a comment

Currently covering Labour Markets with my A2 level classes and put together an exercise which tests them on calculating MCL, MRPL etc and also showing why MCL = MRPL is the number of workers a firm should employ. There is an exercise for both Perfect and Imperfect Labour markets – see ‘Word’ document. The excel document is a model answer showing the data in a table and a graphical format. Hope it is of use.

Imperfect Competition in the Labour Market
ACL MCL of Labour

Categories: Labour Market, Teaching visuals Tags:

Great economics revision videos from Tutor2u

April 27, 2016 Leave a comment

Here is a great set of revision videos by Geoff Riley of Tutor2u. They cover a range of macro and micro topics for AS and A2 Level economics. Most of them are around 8 minutes long and he uses the powerpoint slides very effectively so you get his oral contribution plus the key points on the presentation slides. Well worth a look and you are bound to find them very useful as exams approach. Below is the video on the Circular Flow.

 

 

 

Categories: Teaching visuals Tags:
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