Irish govt': price floor on alcohol to decrease the negative externalities of its consumption

Irish govt’: price floor on alcohol to decrease the negative externalities of its consumption

Irish Examiner: 200 fewer deaths with minimum €1 alcohol price

Article published: Mar 13, 2015 – out of date: no longer suitable for your IB Economics commentary

IB Economics syllabus: Microeconomics (market failure, negative externalities)

By setting a minimum price on alcohol, the Irish govt’ aimed at reducing the consumption of this demerit good. They seem to have been successful.

Source of image: Irish Examiner

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By EconDaddy IB Economics tutor| 2017-08-23T11:15:58+00:00 March 22nd, 2015|Micro|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 6 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.

Irish govt’: price floor on alcohol to decrease the negative externalities of its consumption