Currently unavailable: for new students
Degree: Philosophy, Politics, and Economics (Bachelors) - Oxford, St Anne's College University
I am a first year Philosophy, Politics, and Economics student at the University of Oxford, and I took Maths, French, History (Pre-U), and Economics at A-Level, as well as doing the Extended Project Qualification. While in Sixth Form, I tutored at school weekly, including in A-Level Economics, so I already have experience of tutoring.
Economics: I studied AQA A-Level Economics, but I can tutor other exam boards. I'm really passionate about the subject, and now enjoy it at university even more than I did at school.
Maths: I have a strong mathematical background, and I'm still regularly doing Maths as part of my degree.
French: I can help by teaching grammar, vocab, or helping with essay technique.
EPQ: I really enjoyed writing my EPQ, so I can supply any help, especially with structure, essay-writing style and references.
TSA Oxford: I had to take the TSA for my successful Oxford application and I spent a long time preparing for it, therefore I can tutor this by explaining past questions and working through problems in papers.
What to expect
I can help you through anything that you want to regarding these subjects. It would be useful to let me know which exam board that you are studying in advance, so that I can acquaint myself with the syllabus. I think that looking through past exam papers can be very useful, but if more work is needed on specific topics, I can try to improve your skills in these. For essay subjects, I can give you guidance on how to write a good essay, from my experience of studying two essay subjects at school, and studying an essay-heavy subject at university.
|Economics||A Level||£20 /hr|
|Extended Project Qualification||A Level||£20 /hr|
|French||13 Plus||£18 /hr|
|Maths||13 Plus||£18 /hr|
|Maths||11 Plus||£18 /hr|
|.TSA. Oxford.||Uni Admissions Test||£25 /hr|
|Extended Project Qualification||A-Level||A*|
Wera (Student) April 25 2016
NingNa (Student) April 24 2016
Anne (Parent) April 19 2016
NingNa (Student) April 8 2016
Price capping involves limiting the amount that a firm can charge for a particular good or service. In order to address this question, you should weigh up the costs and benefits of price capping and their effects on monopoly power. It may also be helpful to use contemporary examples to address the question, for example by looking at the effect that price capping would have on the 'Big Six' energy companies.
It would be useful to distinguish between different types of price capping in the introduction (RPI-X, and RPI-X+K, rate of return) and how the effects of them differ.
Advantages of price capping
Cuts in real prices help households and industrial consumers. Prices are lower, so there is greater consumer welfare, alongside lower production costs.
Improvements in productive efficiency. Firms can only increase profits by decreasing costs, so they have an incentive to try to move towards the lowest point on their AD curve. Monopolies operate where MC=MR, so this would mean a movement to a more competitive equilibrium.
Useful for controlling consumer price inflation. Inflation can arise from increased costs for firms. For example, an increase in energy prices leads to an increase in prices across the entire economy due to these higher costs. Capping the price would stop this.
Disadvantages of price capping:
Job losses. Lower prices can mean lower profits for firms, so firms may have to fire workers in order to cut costs and increase profits.
Distortion of price mechanism. Price sends signals within markets as to the balance of demand and supply. Artificially altering the price can send the wrong signals to the market.
Cementing of monopoly power/decreased competition. Lower prices can make it more difficult for new firms to challenge monopolies, as they may not have the cost advantages that large monopolies benefit from.
Difficulties of setting appropriate price cap. What level should a price cap be set at? Governments have to set it at a level where it alters the behaviour of monopolies, but doesn't stop investment, and doesn't price out smaller firms. This point is a good evaluation point in essays, as how well the price is set will have a large bearing on how effective price capping will be.see more