Carbon tax is regressive as it disproportionately affects the less well off. The latest increases, which take effect today, are expected to raise €788 million. This is ring-fenced for climate action related supports.
rte.ie/news/business/…

There are only three possible answers to a typical PPF question in LC Economics, resources either:
increase,
decrease, or
they stay the same (and there is an increase in production in favour of one product).

In the podcast this week:
What makes Monopolistic Competition monopolistic?
How can you pick up extra marks in diagrams questions?
Should firms in Perfect Competition advertise?
open.spotify.com/episode/6TAHyA…

AstraZeneca has admitted that its Covid vaccine can cause a rare side effect, which could be an example of market failure. Fifty-one cases have been lodged in the High Court, with victims seeking damages up to £100 million.
telegraph.co.uk/news/2024/04/2…

There is serious concern about how the transition to electric vehicles has stalled over the first quarter of 2024. Petrol power lead the new-car market share of 33.37%, followed by diesel at 23.05%, hybrid 21.33%, electric 12.69% and plug-in hybrid 7.92%.
m.independent.ie/irish-news/ele…

In 2023 the Gross General Government Debt was €220.7bn (43.7% of GDP) compared with the 2022 figure of €224.7bn.
General Government Expenditure was €115.4bn in 2023 compared to €107.3bn in 2022
General Government Revenue was €123.7bn in 2023 compared to €116.0bn in 2022

83% of professionals have pension cover compared to only 48% of skilled trade workers.

Why employees have no pension?
• 43% Can't afford it
• 43% Haven't organised it yet.

Of workers who don't have a pension: • 59% expect to rely on the State Pension on retirement

Reputable media outlets from Reuters to the Irish Times make it increasingly difficult for Economics teachers when they cannot establish a consensus on the issue of climate-change. It seems that everywhere is warming faster than everywhere else. eddiesnotes.blogspot.com/2024/04/climat…

In this episode of the podcast I explain how lower inflation is still bad news for the consumer, the reasons for price rigidity in Oligopoly, and how much data you need for the exam in June.
open.spotify.com/episode/4hYE4X…

Inflation may be coming down, but prices are still increasing. Chief Secretary to the British Treasury, Laura Trott MP seems to struggle with this concept. She does perhaps make a good case for compulsory Economics in our education systems?
youtu.be/ubpy4RzB3sw?si…

Consider the opportunity costs involved as Tánaiste Micheál Martin defends the State paying up to €1 million a month ('up to €20 per pet per night, but it varied from centre to centre”) for the transport and accommodation of pets from Ukraine.
irishtimes.com/politics/2024/…

In the latest episode of the podcast we examine the advantages of international trade, how inflation transfers wealth from the poor to the rich, and the latest instance of an Oligopolistic firm denying their customers basic rights.
open.spotify.com/episode/3FgkBu…

Given the recent customer relations disasters at Bank of Ireland, and more recently Eir, people should educate themselves on their rights and entitlements under the law from: ccpc.ie/consumers/

Eir provide another fine example of how firms in Oligopoly treat their customers. Staff were told not to process complaints unless customers used certain 'trigger words' which indicated they were aware of their rights or aware of regulations.
rte.ie/news/courts/20…

Using GDP/capita, we can compare the performance of the UK economy with that of the EU and the US, and gain some perspective on the impact of Brexit. The trends illustrated do not reflect many of the dire predictions made before the 2016 referendum. tradingeconomics.com/united-kingdom…

In the Comparative Advantage question some people find it more intuitive to express Terms of Trade using the older fractions method, rather than the more familiar decimal calculations. Either is acceptable in the exam.
youtu.be/N9f5n6Oo_-Y?si…

In class this week we discussed some disadvantages of the highly concentrated Irish banking sector; using poison as a means of product differentiation; and the calculations used to explain the theory of Comparative Advantage.
open.spotify.com/episode/1sQKNa…

In Comparative Advantage, working out which country should specialise in which good can be difficult, as can calculating the terms of trade. However, both are quite likely Strand 5 questions this year.
youtu.be/TMcLJI-MBx0?si…

Latest OECD indicators show that of countries for which figures are provided, none spends a lower proportion of GDP on education than Ireland. This is even more pronounced at second level, where, at 1%, investment is just half that of the OECD average.
irishtimes.com/ireland/educat…

In this episode I'm talking to 3rd Years and T.Y.'s who are currently choosing subjects for their Leaving Cert. Is Economics right for you?
open.spotify.com/episode/6iQFZM…