To help further, check out this brand new video covering the costs and benefits of unemployment, Crucial you know these well for a long essay, Enjoy! youtube.com/watch?v=GyLxUl…

A heavily under revised area is the costs and benefits (consequences) of growth, unemployment, inflation and deflation yet a very common long essay question in final exams. Don’t let this be you, videos in my Year 1 Macro Playlist covers this comprehensively 👍

Thank you to everyone who attended the workshops last week. It was a blast revising Economics with you. Push forward hard with your revision now and maximising those gains. Loads more to come from to help you 👍😎

Crucial as you revise over the break to master content and practise a variety of questions. Use these playlists to source videos from; 1) Year 1 Micro & Macro 2) Year 2 Micro & Macro 3) Development Economics 4) Financial Markets 5) Labour Markets

Absolutely everything you need to smash your revision of Economics is on my channel. Browse the channel homepage and you'll see all playlists laid out very clearly; Content, Exam Technique, Writing Skills, Diagrams and much more. Use the videos well in this break #heretohelp

Wishing you all a super productive break - focus is on smashing revision! Be smart & set daily goals, focussing revision on 1) Content Mastery 2) Short Question Practise 3) Essay Planning. Do this topic by topic and you'll make incredible progress. Am here to guide all the way ❤️

Interesting UK economy forecasts came from the budget too; 1) Forecast 2024 Growth 0.8% 2) GDP/Capita Growth negative in 2024 3) Inflation 1.5% by Q4 2024 4) Forecast budget deficit 4.2% 5) National Debt 97.6% GDP and to stay around this for several years #context

The election budget illustrates choice & opp cost. Headline tax cuts mean limits to Gov. spending on public services whilst overall tax burden remains at record high. Public services & infrastructure remain underfunded whilst poor macro forecasts continue to dampen the mood...

Today’s budget focussed on boosting actual & potential growth by reducing National Insurance, increasing benefits for working parents & keeping financial support for businesses whilst also raising revenue through various tax measures (vaping, business class flights and non-doms)

Happy Dalentines❤️ EconplusDal

For a comprehensive understanding on the Natural Rate of Unemployment be sure to check out this brand new video – truly fascinating stuff 😎youtube.com/watch?v=VlsxoA…

Determinants of the Natural Rate of U (consisting of structural, frictional and seasonal U); 1) Generous Benefits System 2) High Income Tax/National Insurance 3) Excessive Labour Market Regulation 4) Poor Transport and Housing Infrastructure 5) Lack of In Work Training Programmes

Many countries aim for full employment i.e. unemployment at the natural rate. But Natural rates of unemployment can differ wildly between countries. Some notable estimates; 1) USA 3.25% 2) UK 3.5% 3) Spain 10-12% 4) France 7-8%

UK unemployment is 4.2% which looks fantastic for living standards but always evaluate; 1) The inactive missed 2) The underemployed 3) Age/Gender/Ethnic/Regional disparities 4) Hard for firms to find workers 5) Inflation conflict 6) Higher business costs if wrong workers hired

But always remember, are current account deficits really a concern? Evaluate using 1) The size of the deficit 2) The cause 3) Ease of financing it through the financial account 4) Future borrowing implications

Causes of the UK's current account deficit are mainly supply side driven; 1) Awful productivity 2) High Unit Labour Costs 3) Poor investment. From the demand side we 'suck in' a large volume of imports with higher incomes too

Very important you are clued up with the UK's current account deficit - a very common exam question the last few years. Our deficit is strongly due a large trade in goods deficit but partially offset by a trade in services surplus #comparativeadvantage

For 2024 exams check out my Brand New 4th Edition Analysis & Evaluation Packs & 2024 Examples for Exams Pack for ultimate writing depth and A* examples in all Economics essays. Perfect for subject mastery, pushing you to the top grades - get yours here econplusdal.com

Evidence proves the weak pound does little to narrow a current account deficit and therefore supply side policies are desperately needed to resolve structural weaknesses in the UK economy and to re-balance the economy. #judgement