Economics Observatory | Questions and answers about coronavirus and the UK economy

How could the system for live event ticketing be improved?

Buying tickets for big music events like the Oasis reunion or Taylor Swift’s Eras tour is a hassle. That’s because fixed supply and fixed price are incompatible. Improvements to the system could be made – perhaps by using a ballot or flexible pricing, as airlines do – but nothing is perfect.

1-3 October 2024 Bristol

Nations, regions & cities

Scottish independence: what are the big economic questions?

Scotland may soon have a second referendum on whether to remain part of the UK. Economic issues will be a key part of the debate – from the fiscal policy institutions needed for an independent country to choice of currency and the future relationship with the European Union.

DATA HUB

Steel production

In the last two decades, China has come to dominate the world’s steel supply. At the turn of the millennium, 16% of the world’s raw steel came from China. Today, it is a majority.

European steel production has been squeezed hardest, making up just 7% today. In the UK, the industry is now on its last legs. With the forthcoming closure of the Port Talbot steelworks, the UK will become the only G7 country unable to make ‘virgin’ steel.

Listen to Richard Davies, the director of the Economics Observatory, explore the decline of the industry in the new Radio 4 documentary Steel Dragons.

Banks & financial markets

How did Ireland recover so strongly from the global financial crisis?

The global financial crisis of 2007-09 had a huge impact on Ireland, with soaring unemployment and a big rise in public debt as the government bailed out the country’s banks. But the Irish economy has bounced back strongly since 2012, primarily due to globalisation and foreign direct investment.

MAGAZINE

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Action to mitigate climate change remains essential. Visualisations of the progress that countries are making towards greener economic growth can help to promote policies that mobilise efforts to achieve net-zero carbon emissions.

Schools, universities & training

How can we reduce gender gaps in mathematics education?

Underperformance by girls and young women in mathematics relative to their male peers is a loss of talent that may hinder productivity growth. New developments in our understanding of how gender stereotypes originate and evolve can help us to reduce gender differences in achievement.

Nations, regions & cities

Scottish independence: how do other small economies fare?

Were Scotland to become independent, it would naturally be a smaller economy than as part of the UK. The successes of such economies are highly contingent on state and society’s ability to capitalise on the strengths and minimise the vulnerabilities of small population size.

Nations, regions & cities

An independent Scotland: what would be the options for economic success?

If Scotland were to become independent, there would be significant short-term economic challenges. The prospects for the nation’s economy over the longer term are uncertain and would rest on the outcome of tough choices about currency, public finances and membership of the European Union.

Schools, universities & training

How would minimum entry grades affect opportunities in higher education?

The UK government is consulting on the introduction of minimum eligibility requirements for access to student loans. If such a reform is introduced, it is likely to prevent many who miss getting the required grades from going to university.

Business, big & small

Do managers matter?

The productivity of UK firms depends on them being well managed. This makes improving management practices a critically important issue both for business leaders and for policy-makers seeking to boost the country’s overall economic performance.

Banks & financial markets

What new institutions of economic policy would an independent Scotland need?

Building trust in a post-independence Scottish government’s commitments to sound economic policy and sustainable public finances would require strong, operationally independent institutions – including a debt management office, a strengthened fiscal watchdog and a new monetary authority.

Data stories

What happened at the 2024 Olympics?

Paris hosted the 2024 Summer Olympic Games – the 30th of the modern era. Memories will be dominated by great sporting moments, including athletes winning their countries’ first ever medals. But the mega-event also highlighted issues around representation, equality, cost control and home advantage.

Business, big & small

The hollow corporation: what does today’s division of labour look like?

Adam Smith explained the gains from workers in a pin factory specialising in their tasks. Specialisation today looks very different, with many businesses focused on just a single link in the global supply chain.

Energy & climate change

Achieving sustainable development: what’s happening in the Congo Basin?

Conserving the Congo Basin is essential for preserving biodiversity and averting climate catastrophe. But safeguarding this precious ecosystem has to be balanced with the needs of some of the world’s poorest people. Managing the environmental and economic interconnections is a global challenge.

Lessons from history

What can we learn about patents and innovation from the past?

The history of industrial revolutions provides valuable insights into how patents and patenting systems influence innovation. It also reveals the extent to which inventors have relied on other ways to protect their ideas, including secrecy, sharing and showcasing them at international exhibitions.

All Answers