A macro effect of a tariff on steel is that the policy will help to prevent a rise in structural unemployment in regions where steel-making is a key industry.
The closure of loss-making steel plants creates structural unemployment because workers in these factories often have specific skills that are not fully transferable to other jobs.
(25) Evaluate the view that increased regulation of the banking system can be damaging to the competitiveness of an economy.
Discuss with reference with countries of your choice.
At this time of year lots of teachers work feverishly through essay plans as a way of revising core content and honing those all-important essay exam skills.
Here is a selection of micro & macro essay titles that I have been using in class.Home ownership has become increasingly difficult to access, particularly for first-time buyers, as house price growth has outstripped growth in wages.Median house prices in England are now 7.7 times higher than median earnings.One micro effect of a tariff on Chinese steel is that steel manufacturing firms in the UK will see an increase in demand and improved profits from selling output.This is because an import tariff makes Chinese steel more expensive which can lead to expenditure-switching effects.He has over twenty years experience as Head of Economics at leading schools.He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.Discuss with reference to any developed or developing country of your choice (25) Quantitative easing Using your own knowledge, discuss the impact that quantitative easing has had on UK macroeconomic objectives in recent years (25) Monetary Policy Policy interest rates in the UK have been too low for too long and now risk damaging the health of the UK economy.Assess the validity of this view (25) Development policies Drawing on knowledge from countries of your choice, evaluate the argument that sustainable development is best achieved by allowing free market forces to allocate resources (25) Fiscal policy Since the 2007-08 financial crisis, increases in tax revenues and, to a greater extent, reductions in public spending have contributed to the UK fiscal deficit falling by 7.5 percent of national income by 2016/17.Users of steel such as construction firms may substitute towards relatively cheaper UK steel leading to an outward shift of demand and a higher supernormal profit per tonne of steel supplied.However the strength of the substitution effect depends on the size of the import tariff because Chinese steel might have been significantly cheaper than the UK.