Weekly 5 - Stockpiling, Inequality, British Steel, IMF Bailout, New Minimum Wage
The Weekly 5 is back with a whole host of stories from the economics world! If anyone is unfamiliar with this regular feature it aims to provide you with a short summary of some of the most significant and interesting stories of the week across and within economies around the world. This helps keep you up to date with the news, whilst at the same time provide you with examples of economic theories and policies in action in the real world.
This week's top 5 Economics stories, as chosen by our EzyEconomics team:
Brexit Stockpiling - GDP growth in the UK improved in the first quarter of 2019 due to business stockpiling efforts, we assess how growth is measured and discuss some of the factors that affect the overall performance of manufacturing firms.
Income Inequality - A new report published by the IFS attempts to measure inequality in a slightly different way, we take a look at some of the key findings of the report and apply it to standard economic theory.
British Steel - The future of British Steel is hanging in the balance after a £75m financial blackhole appeared on its financial records, we discuss the options available to them and the role of the government in these type of scenarios.
Pakistan IMF Bailout - The IMF agreed the technical details of a financial support package for Pakistan, we discuss the economic crisis in Pakistan and the process that countries must adhere upon receiving a bailout package from the IMF.
Labour's Minimum Wage - Labour have suggested that the minimum wage should be increased for under-18s in the UK to £10 an hour, we evaluate the impact that this type of policy would be expected to have on the labour market and the economy.
For each topic, we have designed a question to help your students use the skills they have developed in class and apply them to real-world situations.
Stay tuned for further editions of the Weekly 5 released on Friday's during term time!