Video: the outlook for U.K. economy and housing market

A Wall Street Journal panel of WSJ’s  consider the outlook for U.K. economy and housing market over the coming months in this free Webcast. Sign up required

Varieties of Capitalism podcast

Here is a must-listen-to podcast from Radio 4 Analysis series on Varieties of Capitalism for students looking to read around traditional textbook economics:

In this edition of Analysis, Britain politics correspondent for The Economist Jeremy Cliffe investigates the different forms of capitalism defined by the Varieties of Capitalism school - most-famous for the book of the same name published in 2001.He begins by working out what makes a 'Liberal Market Economy' and a 'Coordinated Market Economy', and then digs deeper to find out how these different models formed in the first place.

Key resource for flipped learning: EconPlusDal

The biggest impact on my economics teaching is mini-whiteboards. Flipped learning is now becoming a realistic option with an excellent series of videos from EconPlusDal. 

Here are the complete playlists

• AS Microeconomics
• AS Macroeconomics 
• A2 Theory of the Firm and extension Why? A2 Theory of the firm

Average, marginal and total revenue curves - revision diagram

A treat for my Year 12 Economists:

8 Critical Skills For A Modern Education - and Economics teaching

I am struck by how much I resonate with the list of 8 Critical Skills For A Modern Education set out by TeachThought Staff

To what extent does Economics offer opportunities to embed these skills?

OCR AS & A2 Economics Schemes

For what it is worth here are the schemes of work I use at my school as an Excel Spreadsheet which can be edited for two staff

• A2 Economics OCR SoW
• AS Economics OCR SoW

The End of Combined Economics and Business Studies courses?

The Ofqual consultation "Completing GCSE, AS and A Level Reform" ( http://comment.ofqual.gov.uk/completing-gcse-as-and-a-level-reform/appendix-b/appendix-b/) indicates that Ofqual plan to discontinue Economics and Business Studies and Applied Business. So it looks like single economics or business studies is the only option from 2015?

Using Office Lense

I often find myself teaching in a traditional classroom. Here is an example of how a Windows Phone with the Office Lens app automatically converts a snap of whiteboard notes into something more legible - even given my hand writing

Before

After

Test post to see how embedding a PowerPoint from OneDrive works out

This is a test post to see how embedding a PowerPoint from OneDrive works out in practice:



Update: Need to work on folder permissions on the hosting OneDrive =

Draft Economics A Level Syllabuses (2015) links

Here is list links to the draft A level and AS Economics specifications and draft assessment materials and mark schemes for each of the exam boards. 

AQA A LEVEL ECONOMICS PROPOSALS A level AQA Economics from 2015 summary page AQA A level Economics Specification for first teaching in 2015 Paper 1: Specimen question paper and Paper 1: Specimen mark scheme Paper 2: Specimen question paper and Paper 2: Specimen mark scheme Paper 3: Specimen question paper and Paper 3: Specimen insert and Paper 3: Specimen mark scheme AQA AS ECONOMICS PROPOSALS AS level AQA Economics from 2015 summary page AQA AS Economics Specification for first teaching in 2015 Paper 1: Specimen question paper and Paper 1: Specimen mark scheme  Paper 2: Specimen question paper and Paper 2: Specimen mark scheme EDXCEL A LEVEL ECONOMICS PROPOSALS A level and AS Edxcdel Economics from 2015 summary page Draft specification - A level 2015 Draft sample assessment materials - A level 2015 EDXCEL AS LEVEL ECONOMICS PROPOSALS Draft specification - AS 2015 Draft sample assessment materials - AS 2015 OCR A LEVEL ECONOMICS PROPOSALS OCR Economics from 2015 summary page Specification (Draft) - A Level GCE Economics - H460 Unit H460/1 - Microeconomics - Sample assessment material Unit H460/2 - Macroeconomics - Sample assessment material   Unit H460/3 - Themes in economics - Sample assessment material OCR A LEVEL ECONOMICS PROPOSALS Specification (Draft) - AS Level GCE Economics - H060 Unit H060/1 - Microeconomics - Sample assessment material Unit H060/2 - Macroeconomics - Sample assessment material

Online Economics lessons for flipped learning

Online Economics Lessons 

Here is a list of recommended online economics lessons which can be used to read ahead and for research and revision

• Bryn Jones: 22 short introductory videos for AS Economics courses (UK)
•  Mjmfoodie:  Clear, concise introductory videos on the principles of micro and macro economics (USA)
•  EconplusDal offers a comprehensive video tutorial series covering all the major AS microeconomics content: AS Microeconomics | AS Macroeconomics | A2 Microeconomics |   A2 Microeconomics (UK)
•  Welker's Wikinomics Economics Classroom supports the American Advanced Placement Economics course but is useful for students looking for 'stretch and challenge' (USA)

Design brief advice for explainer videos

Here is a follow up to my posting on Explainer Videos in the classroom. PowToon offers some good advice on creating effective explainer videos which can be included as part of the design brief

YouTube research shows that the average viewer’s attention span is 63 seconds. This is the time you have to get your message across—and the first 7 seconds are the most crucial! That’s when you have to convince your viewers to actually continue watching.

Our research indicates…

Best cartoon length: 63-92 seconds
Critical start: 7-10 seconds

How many words should your script have?
Clip Length        Number of Words
30 seconds        85
60 seconds        160
90 seconds        230

The maximum optimal length for an animated explainer video is around 90 seconds. 

Explainer Videos in the classroom

Explainer videos are short, conversational and informal 90 second animated videos which generally educate, entertain and explain. The free Adobe Voice app for ipads looks wonderfully effective and easy-to use. Watch this video to get a feel for its potential.



There are also alternatives such as Powtoon which I find a little clunky. I use Camtasia Studio to create videos as it gives so much control over elements although the just launched Snagit 12 also from TechSmith has video creation capabilities - Camtasia Lite

Potential use: asking students to create 90 second explainer videos may well prove a popular homework

Types of Unemployment

Here is a simple revision graphic for causes and type of unemployment

Student Personal Learning Checklists for monitoring performance

On reflection, one of the best teaching innovations I have adopted this year is the use of a personal learning checklist that allows pupils to RAG rate themselves on each part of the specification.

Here is an example for F581

I have created plcs for each module in Excel but print them out on paper and ask students to keep a copy in the back of their A4 exercise book which is used to make class notes.

A standing homework is to update the plc weekly

Having a plc in the back of an exercise book means there is a current record  which demonstrates student self assessed progress and missing gaps in understanding. Very useful when SLT make a monitoring visit

Highly recommended

Pros and cons of Monetary Union

The June F585 case contrasts Latvia and Iceland. For Latvia the benefits of monetary union within the EU outweigh the costs and help justify adopting a fixed (pegged) exchange rate. 

Here is a summary diagram for revision purposes

Pros and cons of a floating exchange rate system

In the F585 Summer 2014 case study, Latvia uses a fixed exchange rate system. Iceland operates a floating exchange rate system. So be sure to know the pros and cons of each system

Floating exchange rate benefits

• Automatic adjustment mechanism for any balance of payments disequilibrium
• Frees monetary policy to target alternative objectives instead of a fixed exchange rate
• Reduces need to hold foreign currency reserves – which have an opportunity cost

Floating exchange rate drawbacks

• uncertainty about future export and import prices may deter investment 
• encourages indiscipline if govt and firms rely on devaluation to restore competitiveness 
• Automatic BoP adjustment mechanism only works if demand is price elastic

Fixed exchange rate benefits

• Reduced exchange rate uncertainty so encouraging domestic investment and FDI 
• Should eliminate destabilising speculation 
• Reduced costs as no need to hedge 
• Imposes discipline on domestic firms

Fixed exchange rate drawbacks

• No automatic balance of payments adjustment as with a floating exchange rate
• Requires high levels of foreign currency reserves which have an opportunity cost 
• Reduced flexibility for monetary policy as interest rates are targeted at a stabilising the exchange rate rather than say inflation ie conflicting macro policy objectives
• Setting the 'wrong' exchange rate (where REER is >) 1 reduces international competitiveness and encourages speculative attacks

However countries seeking monetary union and its associated benefits within the EU must first adopt a fixed rate exchange rate system which helps explain why Latvia pegged its currency to the euro so as to be able to enter full monetary union in Jan 2014