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CPI inflationCPI inflation - down to lowest level in a generation, at 1.0%.  More...

UK GDPCurrent account - Deficit reaches record high at £72.4 bn, 4.2% of GDP.

UnemploymentUnemployment - down again, to 6.0%, the lowest rate since 2008. More..

UK GDPUK trade figures - Sterling undermines rebalancing strategy.

UK GDPUK growth - GDP up 0.7% in the third quarter of 2014.

 

Bank of England and Mark CarneyBank of England - downgrades unemployment threshold.

OECDOECD - latest forecasts for the OECD countries..More

Updates statisticsUpdates Get the latest updates on the UK economy, including GDP, inflation. More..

UK Energy marketEnergy market - to be investigated by new competition watchdog More..

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Trade


Question 1 - Essay

  1. Analyse the benefits of free trade between countries? (50)
  2. Using the example of UK wheat, draw a tariff diagram to show the welfare effects of the imposition of tariffs on imports of foreign wheat, and comment on your diagram. (50)