Revision Time

Hi All -

Its time for revision!!

Your task over today is to work on the May 2008 paper - ALL QUESTIONS need to be answered for nextTuesday.

Use http://www.tutor2u.net/ as a source of knowledge - make sure you go through and write any notes to cover any subject knowledge errors!!!

Exchange Rates

Continuing our work on currency's.........

Learning Objectives: 

Using your knowledge gained from last lesson - you need to: 

1) Watch this video and/or read through the articles on Tokyo as one of the 'World's most expensive cities'

http://www.bbc.co.uk/news/business-18408616
http://www.bbc.co.uk/news/business-18398005
http://www.telegraph.co.uk/finance/economics/9326784/Tokyo-named-worlds-most-expensive-city.html

2) You need to comment on this blog and explain why you think Tokyo is one of the most expensive cities (Hint: Exchange Rates)

3) Working in pairs - here are your groups:

Luke, Sam: Angola
Micheala and Aara: Geneva
Lydia and Jake: Zurich
Declan, Yas, Delton: Singapore
Sam and Jay: Moscow
Rahim, Huzafia: Sao Paulo

You need to prepare a short presentation (4 minutes max) on why your country is considered 'expensive' to live in.

You need to include: 

Some facts on your country.
Some discussion on the exchange rates.
Some discussion on Exports/Imports.
Impacts on the standard of living.

You will have 2 lessons to complete this.
The most innovative and creative presentation will get a prize

Balance of Payments

Y11 Learning Objectives for today:

TO understand the main components of the Balance of Payments

To understand the impacts of a current account deficit and current account surplus.

What is the balance of payments? It is made up of the current account and capital account.

You need to know about the current account - which is made up off visible trade and invisible trade.

Your task today is to: Find out the top exports for 5 different countries

Find out what services are currently exported by the UK and US?

What is meant by the term current account deficit?

What are the impacts of the term current account deficit?

http://www.economicshelp.org/trade/benefits_free_trade.html

http://benefitof.net/benefits-of-free-trade/

http://www.wto.org/english/res_e/doload_e/10b_e.pdf

http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b00_e.htm#10benefit_menu

http://www.newyorker.com/talk/financial/2008/05/26/080526ta_talk_surowiecki

http://debatewise.org/debates/1053-poorer-countries-should-abandon-free-trade-agreements/

 

Homework

For homework - you also must make sure you have commented on the blog article on tariffs etc... You must then revise for your assessment next week!

Interesting reading- useful for revision

Read through this article on China and exporting...

http://www.guardian.co.uk/business/2009/aug/14/china-exports-christmas-toys

What macroeconomic issues does it bring it up?

Comment below!

Lesson today

You should have by now completed:

Two six mark questions (marked using the fronter markscheme)

Most of you are now answering the questions to the trade dispute casestudy on Tutor2u. You must post your answers on the blog!!

If you finish - you then need to use the time completing the past paper we have started and/or revising for the assessment next week.