Modelling in the Long Term

Synopsis

Focuses on the issue of unemployment in Europe, examining why it has arisen and what can be done to alleviate it. Representatives from the European Commission discuss three different economic theories in relation to the crisis of unemployment in Europe since the late 1970s: the long wave theory, which bases economic cycles on technological change; the liberal tradition underlying the QUEST computer model; and the social contract theory, which puts values on social welfare and security within an economic community. Illustrates the theories and shows the QUEST model working out the proposals put forward at the Edinburgh Economic Summit in 1992 for ‘wage restraint’ as they would affect unemployment, labour costs and output. Expands the notion of modelling the economy to encompass large-scale framworks or approaches that can characterise economics overall.

Series

Economics and Changing Economies, Course D216

Language

English

Country

Great Britain

Medium

Video; Videocassette. Standard formats. col. 24 min.

Year of production

1995

Availability

Off-air recording licence
Sale; 1998 sale: £145.00 (+VAT +p&p)

Subjects

Economics

Keywords

economic forecasting; economics theory; modelling - economic; unemployment

Credits

Producer

Alison Tucker

Cast

Maureen Mackintosh

Production Company

Name

BBC Open University Productions

Distributor

Name

Open University Worldwide

Web

http://www.ouw.co.uk External site opens in new window

Phone

+44 (0) 1908 274066

Address

Walton Hall
Milton Keynes
MK7 6AA

Notes

NB. As of May 2016 Open University Worldwide are no longer distributing DVDs. They have posted this message on their website: ‘Unfortunately Open University Worldwide Limited has decided that product sales are no longer viable given the reduced funding to Higher Education institutions and diminishing demand for the products we have traditionally stocked. At present the Open University Students Association (OUSA) will continue to sell the "Good Study Guide", and we are in discussion with other possible distributors to continue to make The Open University’s products available for purchase. As soon as we have any information on other channels of distribution we will update this notice’. Some products are still available via second hand dealers on Amazon.co.uk