No-deal Brexit and recession go hand in hand

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CNN: UK will plunge into recession if it leaves Europe without a Brexit deal

Article published: July 19, 2019

IB Economics syllabus: Macroeconomics (economic growth, recession)

The UK’s new prime minister, Boris Johnson is determined to carry out Brexit in October, even if he cannot get a better deal from the EU. Brexit without a deal would harm the UK economy a lot: “According to a Bank of England simulation of the most chaotic Brexit, the UK economy could contract by 8%.” The article also mentions investment which is key for economic growth.

Source of image: CNN| Image taken from video on the site of the article

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By EconDaddy IB Economics tutor|2022-01-13T10:36:06+00:00July 22nd, 2019|Macro|Comments Off

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My name is Daniel Szekely and I work as an IB Economics tutor, examiner and teacher. Having earned an MA degree in Economics at the University of Aberdeen, I started my career as a financial analyst at Morgan Stanley, one of the largest investment banks of the world. Yet, despite the promising career prospects of the banking industry, I decided to make a larger social impact by becoming a teacher. Currently, I teach IB Economics at SEK Budapest International School and have been an examiner for over 8 years. I started EconDaddy as a simple blog to share great articles with my students and others taking IB Economics around the world to use for their commentaries. Being a practicing IB Economics tutor, I have first hand insight into the most common mistakes of students, so the EconDaddy blog now also provides exam and commentary writing tips.