This article from the Wall Street Journal discusses how the Bank of Korea in South Korea lowered its economic forecasts. It also discusses that the BOK has announced that the inflation rate is within the target range for SK; 2%-4%.

This article discusses the imminent increase in unemployment as 100,000 public sector jobs are going to be cut. This seems to be "cyclical unemployment" as the job-cuts are due to a recession rather than permanent structural unemployment.

This article concerns the fact that minimum wage for the UK will be raised by 11p; an increase of 1.8% from its current level. This change will affect aggregate supply in the short run (SRAS curve); as it will effectively increase the costs of production for all the firms in the industries of the economy. The result will be a shift to the left on the SRAS model.

This article concerns the fact that German exports have fallen since December. This reflects what was learned on the "determinants" of exports; national income in foreign nations, exchange rates, relative inflation rates, etc. Considering the recent economic turmoil in Europe, one can assume that the economic situation of foreign countries has affected the level of Germany's exportation.

This article discusses China's economic growth over the past few years, and that although the GDP has been increasing, it is doing so at a decreasing rate (e.g. a 10.4% increase in 2010 and a 9.2% increase in 2011). This could reflect a contraction on the business cycle; as it is a period of the economy in which increases, but at a decreasing rate.

This article concerns the oligopoly of Coca-Cola and Pepsi in the soft-drinks industry. It is a non-collusive oligopoly; and the two firms compete in order to gain consumers and maximize profits. Although this is usually apparent through non-price competition (as price competition can result in heavy losses for both firms), in this situation in India, Coca-Cola is reducing its prices in order to gain consumers. Pepsi will then follow suit, also reducing its prices, as if it doesn't it may lose many consumers to Coca-Cola.

This short article relates to the concept of natural monopolies; as are found in utilities such as water, electricity and gas providers. This article complains at the fact that Avista charges a high quantity for gas; and being a monopoly; it gets away with it.

This short article relates to the concept of natural monopolies; as are found in utilities such as water, electricity and gas providers. This article complains at the fact that Avista charges a high quantity for gas; and being a monopoly; it gets away with it.

This article concerns the fact that "China's fiscal revenue soared 25% to record in 2011". This is related to our study of revenue. This means that its is an abnormal profit.

This article discusses how new technology (as well as government subsidies) are allowing the costs of production of wind turbines and wind-generated electricity to decrease.

The use of normal cars creates a negative externality of consumption; through the air pollution and noise pollution that is created. The intention to launch an electric car share program in Paris reduces this negative externality; as electric cars do not make any noise and do not (directly) cause air pollution.

This article concerns the problems that are being caused by a wagon-assembly factory in India. Not only does the factory cause air-pollution through fumes, but it also causes noise-pollution and vibrations that make living in the area very uncomfortable. This clearly illustrates how the MSC is much greater than the MPC of production, and is therefore is therefore a "Negative Externality of Production".

This article relates to government intervention in the form of increasing the minimum wage in some states. However, this increase was met with an increase in unemployment; which we also looked at. This unemployment is caused by a high price where supply is greater than demand, and the need for workers therefore decreases (increasing unemployment).

This article illustrates an important aspect of taxing that we looked at in the past few weeks, and are looking at this week as well. The government increases taxes on inelastic products (such as tobacco and alcohol- which are addictive and therefore necessities). This is done as with a price increase on an inleastic product, the demand decreases by a proportionally smaller amount. This decreases any potential danger for high levels of unemployment on behalf of the company's supplying the products.

This article concerns the increased taxes being imposed upon alcohol in Sri Lanka. The reason for this is because alcohol is viewed by many as a 'necessity', and is also addictive (which makes it a necessity). This makes alcohol a product with inelastic demand; as an increase in price will result with a proportionally smaller decrease in demand. This avoids chances of unemployment by increasing the product's price, and is therefore a reason for the increase in the imposed tax upon it.

This article concerns the industry of solar panels. Last year, demand for solar panels doubled in countries such as Germany and Italy. This was in response to the increase in supply. Last year, the average price of a solar panel halved due to advanced technology (a ceteris paribus factor of supply). This decreased the costs of production of solar panels, shifting the supply curve to the right. In response to the low prices, demand also increased. This demonstrates the price mechanism.

This article is related to oil prices; which are very much connected to our demand for them and the amount that can be supplied. This particular article is in reference to lower oil prices; which would increase the demand for the oil.

This article is concerned with a very clear case of a resource's scarcity, and one that affects us all. Oil prices have been climbing dramatically recently, due to the fact that there isn't enough of the scarce resource to satisfy the unlimited wants that we have for it.