6:54 PM




HW: Case Study - last 3 pgs of Pink booklet (Set aside 1 hr to complete this case study. Ps pass answers to Econ reps on Mon 24/05.

Change to (D) …Discuss the likely impacts of increasg globalization...

Note there will be a make-up lesson during the week 24/5-27/5 as Fri (28/05) is a public holiday.

T1: Dd/Ss Essay N07 (PB, p.1)

Mkt failure

T2: Essay Qn 1:

Global temperature will be staggering 4° higher by the end of the century, assuming no change to greenhouse emissions.

Economics Today, September 200

Why are ‘market forces’ insufficient to prevent greenhouse gas emissions? [10]

1. Assess the policies the Singapore government can adopt to contain the problem of rising greenhouse gas emissions. [15]

T3: Essay Qn 2:

1. Explain the impact of rising oil prices on the Singapore economy. [10]
2. Discuss the view that the price of petrol should be determined by government intervention rather than free market forces. [15]

• Please come prepared with essay outlines for your tutorials. It will be good if you could practice writing the essays on your own. You may hand your written essays to me for marking, if any.

10:29 PM

All the best,

Ms Lim

10:44 AM




Jie Choong*
Jacalyn
Gui Feng
Tong Yang
Zhi Cong
Shu Liang
What were the aims and key initiatives of the 2009 budget?

Grp 2
*Lin Pon
Nicole Lim
Cohen
Faris
Yi Ying
Ernest
Azmi
Ee Yang
With reference to examples and evidences, how well have these initiatives worked thus far?

Grp 3
*Nicole Wong
Joshua
An
Lavinia
Teresa
Andy
Explain your recommendations for the 2010 budget?
What are the aims and key initiatives of the 2010 budget as delivered by the Minister?

hello people. groupings are the same as last year's econs group just that i took out like our ex-classmates names and put in the new classmates:) yea and just do abt i think 2-3 slides to address each questions since miss lim says she only need around 10 slides. due on 1st of march ok.


oh yea, and the econs homework for this week:
T1- SQ 1, 4, 5, 9 (wb pg 31-32)
CS 1a&b (wb pg33)
T2-CS 1c&d, CS 2c&d (wb pg 34)
T3- essay qn 4 (wb pg 29)

guess that's it. happy weekends!^^

ehh yea, i forgot to add.. the * people are the leaders miss lim assigned last year. send me the slides on 27 feb ok! i mean the *people.

4:40 PM



Econs Checklists 3 & 4
Please prepare your answers to the following checklists. You can do work division among your group members. Your answers should also be type- written, which will make it easier to make changes, while diagrams should be hand-drawn as a form of practice. Please do not just copy from the lecture notes. It will be good if you can attempt these questions without reference to your lecture notes. Each group will compile a set of answers for revision to be submitted by Wed 16/09/09.

Checklist 3 for Dd/Ss/Elasticities
Can you clearly explain…
1. The determination of equilibrium price and output in the Dd/Ss framework? (explain the adjustment process wrt diagram)

2. (a) at least 3 factors that will affect the
(i) demand for a good?
(ii) supply of a good?
[single shift: clearly indicate whether dd/ss will shift left or right]
b) how particular key words/phrases: eg.“ economic boom” and “firms expect profits for private housing market to increase” will affect the equilibrium price and output for private housing? (double shift: explain adj process wrt diagram)
3. government intervention in the
(i) labour market to ensure a minimum wage for workers?
(ii) goods market to ensure basic necessities are not overpriced?
[explain impact on the market wrt diagram]
What are the limitations in each case?
4. At least 3 factors that will fact the (i) PedA (ii) PesA? (wrt diagrams)
5. Significance of the sign and magnitude of (i) PedA, (ii) YedA, (iii) XedAB.
[you should be able to state definitions/formulae of PedA, YedA, XedAB, PesA]
6. How useful are PedA, YedA, XedAB, PesA to a firm in its aim to maximize profits?

Checklist 4 for Market Failure
Can you clearly explain…
Wrt relevant diagrams,
1.(i) how market failure occurs in the following cases wrt to a specific example?
(ii) types of government intervention to correct market failure in each case?
(iii) the limitations of government intervention in each case?
Cases:
(a) negative externalities in production/consumption ?
(b) positive externalities in production/consumption?
(c) demerit goods/ merit goods
(d) public goods
(e) monopoly power
(f) factor immobility
(g) information failure
(h) inequity
2. possible causes for government failure?


There are two ways of meeting difficulties. You alter the difficulties or you alter yourself to meet them.
Phyllis Bottome
10:50 PM