Gillespie: Foundations of Economics 4e
Access the links below to view the web links arranged alphabetically.
Adam Smith Institute
The Adam Smith Institute is Britain’s leading innovator of free market economic and social policies. Since 1977, it has played a key role in developing practical initiatives to inject choice and competition into public services, extend personal freedom, reduce taxes, prune back regulation and cut government waste.
American Economic Association website
American Economists Association
Read what the American Economics Association says about economics
Bank of England
The Bank of England is the central bank of the United Kingdom. Sometimes known as the 'Old Lady' of Threadneedle Street, the Bank was founded in 1694, nationalized on 1 March 1946, and gained independence in 1997. Standing at the centre of the UK's financial system, the Bank is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy.
For more information on issues such as the role of the Bank of England in controlling the UK financial system, UK monetary policy and the UK inflation report visit:
To find out about banknotes in the UK see
The BBC website contains numerous news stories about business and economics. Visit either the main section:
Or go straight to the economics section:
The Budget is the major financial and economic statement made each year by the Chancellor of the Exchequer to Parliament and the Nation. Since 1998, the Chancellor has presented the Budget in the Spring.
The role of the Budget is to provide an update on the state of the economy and the public finances and to present new forecasts for each, to set out the Government's economic and fiscal objectives, to report on the progress the Government has made toward achieving its objectives, and to set out the further steps the Government is taking to meet them. The Budget information is published in the Economic and Fiscal Strategy Report (EFSR) and the Financial Statement and Budget Report (FSBR). Information on the 2013 budgets can be found at
Company Annual Reports Online (CAROL)
CAROL is an online service offering direct links to the financial pages of listed companies in Europe and the USA. CAROL provides direct access to companies’ balance sheets, profit-and-loss statements, financial highlights, etc.
This website provides information and data on countries around the world.
The Competition and Markets Authority (CMA)
As part of reforms to the arrangements for competition, consumer protection, and consumer credit regulation, the Office of Fair Trading (OFT) closed in the UK in March 2014, and its work and responsibilities passed to a number of different bodies including the Competition and Markets Auhority.
The Competition and Markets Authority (CMA) brought together the Competition Commission (CC) and the competition and certain consumer functions of the OFT in a single body. The CMA promotes competition, within and outside the UK, for the benefit of consumers.
The Competition Commission conducts inquiries into mergers, markets, and the regulation of the major regulated industries. This site provides information on ongoing and previous inquiries.
Confederation of British Industry (CBI)
‘One of the UK’s leading independent employers’ organizations . . . The CBI’s mission is to help create and sustain the conditions in which businesses in the United Kingdom can compete and prosper for the benefit of all.’ This website has data and surveys produced by the CBI, and highlights the view of many businesses in relation to economic, social, and political issues.
Department for Business, Innovation and Skills (BIS)
There is information on the website about innovation, employment matters, regional economic development, business sectors, and the business environment.
Department for International Development (DfID) This is the website of the UK government’s Department for International Development. It contains information about current government policy on development issues.
De Beers "was established in 1888 and is the world's leading diamond company with unrivalled expertise in exploration, mining and marketing of rough diamonds.
It produces approximately 40% of the world's supply of rough diamonds from its mines in South Africa, and in partnership with the governments of Botswana, Namibia and Tanzania.
Approximately 45% of the world's rough diamond production (made up from diamonds from De Beers mines and those which De Beers purchases from Alrosa, the Russian state diamond mining company) are sorted and valued by the Diamond Trading Company, the sales and marketing arm of De Beers, headquartered in London."
Read more at
The website for The Economist magazine- excellent business, finance, and economics articles.
European Central Bank
Website of the ECB
This is the official website of the European Union.
Website of the central bank of the US- plenty of resources here.
Steven Levitt and Stephen Dubner are two fascinating writers on economics- read and enjoy their world.
For information from the Open University about game theory see:
To find out more about the Gini coefficient and how it is calculated go to
This is the website for The Guardian newspaper, providing access to articles and surveys.
HM Revenue and Customs
HM Revenue and Customs is responsible for collecting the bulk of tax revenue, as well as paying Tax Credits and Child Benefits, and strengthening the UK's frontiers.
The HM Treasury website provides information on the UK budget, enterprise and productivity, economic data, tax, work, and welfare.
The Bank's quarterly Inflation Report was first published in 1993. The Report sets out the detailed economic analysis and inflation projections on which the Bank's Monetary Policy Committee bases its interest rate decisions, and presents an assessment of the prospects for UK inflation over the following two years.
The Report starts with an overview of economic developments; this is followed by five sections:
• analysis of money and asset prices
• analysis of demand
• analysis of output and supply
• analysis of costs and prices
• assessment of the medium-term inflation prospects and risks
Institute for Fiscal Studies (IFS)
‘IFS® is an independent research organization. We aim to promote effective economic and social policies through rigorous analysis of their impact on individuals, families, firms, and the public finances.’
Intellectual Property Rights
To find out about interest rate decisions over the years visit
International Labour Organisation
"The International Labour Organization is the UN specialized agency which seeks the promotion of social justice and internationally recognized human and labour rights. It was founded in 1919 and is the only surviving major creation of the Treaty of Versailles which brought the League of Nations into being and it became the first specialized agency of the UN in 1946."
International Monetary Fund (IMF)
‘The IMF is an organization of 184 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.’
Iron and Steel Statistics Bureau
To look at the supply of iron and steel
Blog of Paul Krugman- thought provoking economist and writer for the New York Times.
London Stock Exchange
Share prices are driven by supply and demand. To find out more about the London Stock Exchange visit:
To find out more about UK national income levels visit the Office of National Statistics
National Institute for Economic and Social Research
NIESR aims to promote, through quantitative and qualitative research, a deeper understanding of the interaction of economic and social forces that affect people's lives, and the ways in which policies can improve them.
Office for Budget Responsibility
The Office for Budget Responsibility was created in 2010 to provide independent and authoritative analysis of the UK’s public finances. It is one of a growing number of official independent fiscal watchdogs around the world.
Office for National Statistics (ONS)
This is a government website that contains information on ‘Britain’s economy, population, and society at national and local level. Summaries and detailed data releases are published free of charge’.
OPEC's mission is to coordinate and unify the petroleum policies of Member Countries and ensure the stabilization of oil prices in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital to those investing in the petroleum industry.
Organization for Economic Cooperation and Development (OECD)
The Organization for Economic Cooperation and Development is an organization of 30 countries ‘sharing a democratic government and the class=hori market economy’. Best known for its publications and its statistics, its work covers economic and social issues from macroeconomics to trade, education, development, and science and innovation.
For materials from the Open University on perfect competition see
Royal Economic Society
The Royal Economic Society is one of the oldest and most prestigious economic associations in the world. It is a learned society, founded in 1890 to promote the study of economic science.
Another good news site for finance updated throughout the day.
Tim Harford- The Undercover Economist’s website
A must read!
Trade Union Congress (TUC)
The TUC represents the major trade unions in the UK: ‘With member unions representing over six and a half million working people, we campaign for a fair deal at work, and for social justice at home and abroad.’ This website provides information on employee rights, trade union objectives and initiatives, and the trade union stance on many economic and political issues.
UK labour market
For information on the UK labour market see
UK Monetary Policy
For more information on UK monetary policy see
United Nations Human Development Report
To compare different economies on a range of indicators
What is economics?
For one view of what economics is all about and why it matters in all aspects of life visit:
Here is what the Open University says:
Read Wikipedia’s explanation:
Why study economics?
For information on why you are right to study economics
The aim of the World Bank is to end extreme poverty and promote shared prosperity between countries
World Trade Organization (WTO) The World Trade Organization is ‘the only global organization dealing with the rules of trade between organizations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations, and ratified in their parliaments’. This website provides essential information on the WTO, its role, and developments in international trade agreements.