In this episode we define subsidies and describe how to construct a model of subsidies that includes world trade. We also discuss some of the advantages and disadvantages of subsidies.

In this episode, we define quota and describe how to construct a model showing a quota. We also highlight some of the problems attached to quotas.

In this episode, we define what a tariff is and construct a simple model to demonstrate the effects of the tariff on domestic and world markets. We also discuss some of the disadvantages of tariffs.

In this episode we discuss the theory of comparative advantage and work through a numerical example. We also look at some of the limitations of the theory.

This is a special podcast specifically for my Year 13 students returning from Sun Island. This episode will be rerecorded in regular format soon.

In this podcast, we discuss the thinking behind the Laffer Curve and the importance of transfer payments in redistributing income. We also look at the Lorenz Curve and Gini co-efficient as measures of income inequality.

In this podcast, we look at the features of a good tax system. We define progresive, regressive and proportional taxation and give examples of each. We also differentiate between direct and indirect taxation.

In this episode, we describe the Phillips Curve relationship between inflation and unemployment. In doing so, we differentiate between the short run and the long run and note the implication for policy makers. We also define and differentiate between full employment and the non-accelerating inflation rate of unemployment.

In this podcast we differentiate between three main causes of inflation and discuss some of the costs of inflation and deflation.

In this podcast, we differentiate between inflation, disinflation and deflation and consider how inflation is measured using a price index.

In this podcast, we talk about some of the approaches governments may take in trying to fix unemployment. Note, discussion on the advantages and disadvantages of each method is not included here.

In this podcast, we define unemployment in a general sense before breaking unemployment into five main types.

In this episode, we discuss how the multiplier and accelerator effects can make a small change in aggregate demand result in a much larger increase in national income.

In this podcast, we discuss some examples of supply side policies, their aims and there advantages and disadvantages.

In this episode we look at monetary policy, with an emphasis on interest rates, as a tool of government demand management.

In this episode we look at Fiscal Policy as a demand management tool of government and discuss some of its advantages and disadvantages.

In this episode we define inflationary and deflationary gaps and highlight how to find them on a neo-Classical AD/AS model. We also place them into the context of the business cycle.

In this podcast, we differentiate between the Keynesian and neo-Classical aggregate supply curves and how this impacts upon possible long run equilibrium positions of an economy.

In this podcast we examine the components of aggregate demand and the factors that shift each component.

In this podcast, we outline the different methods of measuring national income and differentiate between GDP, GNP and NNP. We also discuss the importance of adjusting these figures for inflation and population.