Why Study Economics?. Famous Economic graduates….!

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Presentation transcript:

Why Study Economics?

Famous Economic graduates….!

‘celebrity’ Economic graduates….! Donald Trump B.S Economics Invanka Trump B.S Economics Linda Slade Business Student

Economics Level 1 In Outline Unit. Economics helps answer these questions. A.S 1.1 External 4 Credits Consumer Choice. What's the difference between wants and need? How come we cannot have everything we want? Why do we buy more goods when our income increases? How does the price of petrol affect our demand for cars? A.S 1.2 Internal 5 Credits Production. Make and sell cheese rolls. How can we get workers to be more productive? How can we make more profit? Trip to Cadbury Factory. A.S 1.3 External 3 Credits Supply What's the difference between price and cost. What will happen if I put the price up for my good? What changes may make people buy more of my good?

A.S 1.4 External 5 Credits Market Equilibrium Putting demand and supply together. Why would the government try to make milk cheaper? How does the government earn money? What is tax? Why do we have a minimum wage? How do business owners get us into their shops? A.S 1.6 Internal 3 Credits Interdependence How do we rely on business owners? Why do we use banks? How and why is a dairy farmer reliant on Fonterra? Why is Fonterra reliant on a dairy farmer? How does the Christchurch Earthquake affect us?

Current Economic issues Do you watch the news and take an interest in current affairs? Here are some ‘areas’ that you would consider over the course…

Emissions Trading Scheme in NZ Going to mean big changes to Farmers!

US Credit Crisis

Trade Agreements

The Price of Milk in NZ Why is the NZ government intervening into the price of milk in NZ?

The minimum wage Why does the minimum wage seem to keep increasing?

Productivity – what is it?

Economics of pricing – The coffee paradox A widening gap between producer and consumer price

Climate change – what can Economics contribute to the debate?

Impact of improved standards of living

Economic growth

Global business & ethical products The Global corporation The Coffee farmer

Why has the iPod been so successful? What determines the market price? How has the iPod changed the economics of the music industry?

The success of ebaY Auctions are transforming the way that markets work What lies behind the success of ebaY?

Debt – an economic iceberg

Who benefits from globalisation? Why have some countries become richer under globalisation and others much poorer?

Fast growing economies! Impact of BRIC on global economy BRIC = Brazil Russia India China

What will the economic impact of a growing China have on our future?

How can we stop pollution and save the planet?