Diagrams to learn

Economic Integration and the Single Market
Trade creation from having free trade within a customs union
Trade diversion – impact of a tariff
Trade and the PPF, trade and economies of scale
Labour market diagrams
Competition within the single market – contestable market diagrams
Fiscal harmonisation – effects of different taxes incl. indirect taxes, Laffer curve

European Monetary Union
AD-AS analysis of external economic shocks, changes in interest rates
Economic cycle diagram, trend growth and the output gap
Optimal currency area illustration
Phillips Curve – changing relationship between inflation and unemployment
Supply and demand in the currency market
Economic effects of unemployment on the EU economy
Crowding out from high budget deficit (market for loanable funds)

Living standards
Lorenz Curve e.g. for showing income and wealth inequality

EU Enlargement
AD-AS effects arising from increased trade, foreign direct investment
Labour market diagrams related to migration flows, e.g. changes in labour supply
Diagrams to show changes in unemployment, natural rate, NAIRU etc

CAP and Fishing
Government intervention in farming markets e.g. price support, set aside, quotas
Environmental impact of farming and fishing – externalities diagrams
Supply and demand diagrams to illustrate changes in global food prices

Environmental policy and transport
Market failure diagrams including externalities from pollution and waste
Diagrams showing carbon trading markets
Diagrams showing the effects of carbon taxes and government subsidies

Competition policy inside the EU
Monopoly and economic welfare
Contestable markets
Price discrimination
Costs, prices, profits – economies and diseconomies of scale
Oligopoly – economics of collusion, cartel behaviour
Oligopoly – kinked demand curve
Game theory – Prisoner’s Dilemma example

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