tag:blogger.com,1999:blog-320777482024-03-13T22:59:14.914+08:00The Learning EconomistUnknownnoreply@blogger.comBlogger150125tag:blogger.com,1999:blog-32077748.post-79778941155606557252009-12-05T13:11:00.001+08:002009-12-05T13:11:28.819+08:00The Learning Economist has a new home on Wordpress!<div style="text-align: center; ">relink:</div><div><br /></div><div style="text-align: center; "><a href="http://econsiseasy.wordpress.com/">http://econsiseasy.wordpress.com/</a></div>Unknownnoreply@blogger.com90tag:blogger.com,1999:blog-32077748.post-14228568832428990012009-11-20T19:23:00.000+08:002009-11-20T19:26:31.018+08:002009 'A' Level Paper 2<span class="Apple-style-span" style="font-family: verdana, geneva, lucida, 'lucida grande', arial, helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 1px; -webkit-border-vertical-spacing: 1px; ">Section A (Micro):<br />1. Governments around the world protect consumers against market failure due to market dominance.<br />a) Analyse with supporting examples, how market dominance might lead to market failure. (10)<br />b) Assess the extent to which market dominance, rather than any other potential market failure, is the major cause of government intervention in the markets for goods and services within Singapore. (15)<br /><br />2. A very popular band is due to play one concert at a 5000 capacity venue. The plan is to charge different prices according to the area in which the seat is located.<br />a) Explain whether this pricing policy could be considered to be an example of price discrimination. (10)<br />b) Discuss the problems that are likely to be faced in determining the prices to be charged for the seats. (15)<br /><br />3. There have been large changes in the price of crude oil over the past few years.<br />Discuss what determines whether consumers or producers are more likely to bear the cost of these oil price changes. (25)<br /><br />Section B (Macro): </span><div><span class="Apple-style-span" style="font-family:verdana, geneva, lucida, 'lucida grande', arial, helvetica, sans-serif;font-size:100%;"><span class="Apple-style-span" style="font-size: 13px; -webkit-border-horizontal-spacing: 1px; -webkit-border-vertical-spacing: 1px;"><br /></span></span></div><div><span class="Apple-style-span" style="font-family: verdana, geneva, lucida, 'lucida grande', arial, helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 1px; -webkit-border-vertical-spacing: 1px; ">4. The relative importance of the components of the circular flow of income for a small and open economy, such as Singapore, is likely to be different from a large and less open economy, such as the USA.<br />a) Explain this statement. (10)<br />b) Assess whether a change in the external value of its currency is more likely to have a larger impact on Singapore or the USA. (15)<br /><br />5. Economic measures of the Singapore economy for 2007 indicate that GDP was S$243b. The current account on the balance of payments was S$59b in surplus.<br />a) Explain how you might use GDP and balance of payments data to measure the performance of an economy. (12)<br />b) Assess whether these economic indicators are the best measures of economic performance and standard of living in Singapore. (13)<br /><br />6. An economist stated "The trend towards globalisation leaves no room for protectionism".<br />a) Account for the trend towards globalisation. (10)<br />b) Discuss whether you agree with the economist's view. (15)</span></div>Unknownnoreply@blogger.com17tag:blogger.com,1999:blog-32077748.post-90600990743100942782009-11-03T14:07:00.003+08:002009-11-03T14:18:14.813+08:00Coach Operators Fined $1.7m for price fixing<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfMVtYCcTQ1ChLX8yeCa7htOuNHD4qabseIF-12RjGY3lDbv4eDJtYbU6YRGWrcbqPTUkTDxRDLaH9H6L4NE7qZie_1HI_32JNmSDGHB_xHaxh0jERsd8XgnEhLlcEeE0l46DT/s1600-h/allcoaches.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 210px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfMVtYCcTQ1ChLX8yeCa7htOuNHD4qabseIF-12RjGY3lDbv4eDJtYbU6YRGWrcbqPTUkTDxRDLaH9H6L4NE7qZie_1HI_32JNmSDGHB_xHaxh0jERsd8XgnEhLlcEeE0l46DT/s400/allcoaches.jpg" alt="" id="BLOGGER_PHOTO_ID_5399757809106299442" border="0" /></a><br />Nov 3, 2009 (Straits Times)<br /><br />By Maria Almenoar<br /><br />SIXTEEN coach operators and their association have been fined $1.69 million by the <a href="http://www.ccs.gov.sg/">Competition Commission of Singapore (CCS)</a> for fixing the prices of express bus tickets to Malaysia.<br /><br />They were found to have <span style="font-weight: bold;">set a minimum price for tickets and agreed on prices for a fuel and insurance charge (FIC) to the tickets</span> between 2006 and June last year.<br /><br /><span style="font-weight: bold; font-style: italic;font-size:85%;" >HOW 17 FIXED PRICES OF COACH TICKETS<br />Investigations by the Competition Commission of Singapore revealed that the coach operators met regularly with the Express Bus Agencies Association to fix:<br /></span><ul style="font-style: italic;"><li><span style="font-weight: bold;font-size:85%;" > Minimum selling prices of the coach tickets. As a result, these coach operators adjusted ticket prices to either at or above the minimum level, resulting in higher ticket prices</span></li><li style="font-weight: bold;"><p><span style="font-size:85%;">Fuel and insurance charges (FIC) across the board to mark up ticket prices. The charges were revised upwards on various occasions after they were implemented.</span></p></li></ul><p>During this period, it is estimated that the coach operators pocketed over $3.65 million from the sale of the FIC. The 17 fined are:<br /></p><ol><li>Alisan $10,807 </li><li>Express Bus Agencies Association $10,000 </li><li>Enjoy $23,425 </li><li>Five Stars $450,207 </li><li>GR Travel $52,432 </li><li>Grassland $27,706 </li><li>Gunung Raya $76,668 </li><li>Konsortium $337,635 </li><li>Lapan Lapan $10,000 </li><li>Luxury $10,000 </li><li>Nam Ho $10,000 </li><li>Regent Star $103,875 </li><li>Sri Maju $24,600 </li><li>T&L $10,000 </li><li>Transtar $518,167 </li><li>Travelzone $10,000 </li><li>WTS $13,611</li></ol>These operators represent 60 per cent of the industry and are estimated to have earned $3.65 million from the surcharge imposed.<br /><br />The penalties ranged from $10,000 to $518,167, with fines corresponding to the size of the companies. The fines were up to 3.85 per cent of the companies' turnover.<br /><br />Mr Teo Eng Cheong, Chief Executive of CCS, said: <span style="font-weight: bold;">'Our investigations show clearly that the 16 companies and the association colluded to fix prices. Instead of stopping the collusion, the association facilitated the price fixing through its regular meetings and a rebate system to encourage the sale of FIC coupons.</span><br /><br />'When faced with cost increases, businesses should aim to improve productivity or innovate so as to maintain their profitability without increasing prices. Instead, these coach operators took the easier path. They colluded to increase prices and passed on their costs to consumers. Consumers therefore bore the brunt of the cost increases.'<br /><br />Last year, six pest companies were investigated and fined between $4,300 and $92,600 for bid-rigging.<br /><br />Related links<br /><ul><li><a href="http://www.ccs.gov.sg/NewsEvents/PressReleases/Coach+Operators+Fined.htm"><span id="MainContentPH"><span style=";font-family:Verdana;font-size:10pt;" lang="EN-GB" ><strong><span class="pagetitle"><span style=";font-family:Verdana;font-size:10pt;" lang="EN-GB" ><strong>CCS Fines 16 Coach Operators and Association $1.69 Million For Price-Fixing</strong></span></span></strong></span></span></a></li><li><a href="http://www.ccs.gov.sg/NewsEvents/PressReleases/2008/Pest+Control+Operators+Fined.htm"><span style=";font-family:Verdana;font-size:85%;" ></span></a><span style=";font-family:Verdana;font-size:85%;" ><a href="http://www.ccs.gov.sg/NewsEvents/PressReleases/2008/Pest+Control+Operators+Fined.htm" target="_self"><span style="font-weight: bold;" class="text">CCS Fines Pest Control Operators for Bid-Rigging</span><br /></a></span></li></ul>Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-32077748.post-84260254100156025592009-10-24T02:51:00.000+08:002009-10-24T02:52:19.081+08:00Life and How to Survive It<span style="font-weight:bold;">Below is a speech to the graduating class of 2008 at NTU convocation ceremony last week by Adrian Tan, a litigation lawyer and the author of The Teenage Textbook.</span><br /><br />I must say thank you to the faculty and staff of the Wee Kim Wee School of Communication and Information for inviting me to give your convocation address. It's a wonderful honour and a privilege for me to speak here for ten minutes without fear of contradiction, defamation or retaliation. I say this as a Singaporean and more so as a husband.<br /><br />My wife is a wonderful person and perfect in every way except one. She is the editor of a magazine. She corrects people for a living. She has honed her expert skills over a quarter of a century, mostly by practising at home during conversations between her and me.<br /><br />On the other hand, I am a litigator. Essentially, I spend my day telling people how wrong they are. I make my living being disagreeable.<br /><br />Nevertheless, there is perfect harmony in our matrimonial home. That is because when an editor and a litigator have an argument, the one who triumphs is always the wife.<br /><br />And so I want to start by giving one piece of advice to the men: when you've already won her heart, you don't need to win every argument.<br /><br />Marriage is considered one milestone of life. Some of you may already be married. Some of you may never be married. Some of you will be married. Some of you will enjoy the experience so much, you will be married many, many times. Good for you.<br /><br />The next big milestone in your life is today: your graduation. The end of education. You're done learning.<br /><br />You've probably been told the big lie that "Learning is a lifelong process" and that therefore you will continue studying and taking masters' degrees and doctorates and professorships and so on. You know the sort of people who tell you that? Teachers. Don't you think there is some measure of conflict of interest? They are in the business of learning, after all. Where would they be without you? They need you to be repeat customers.<br /><br />The good news is that they're wrong.<br /><br />The bad news is that you don't need further education because your entire life is over. It is gone. That may come as a shock to some of you. You're in your teens or early twenties. People may tell you that you will live to be 70, 80, 90 years old. That is your life expectancy.<br /><br />I love that term: life expectancy. We all understand the term to mean the average life span of a group of people. But I'm here to talk about a bigger idea, which is what you expect from your life.<br /><br />You may be very happy to know that Singapore is currently ranked as the country with the third highest life expectancy. We are behind Andorra and Japan, and tied with San Marino. It seems quite clear why people in those countries, and ours, live so long. We share one thing in common: our football teams are all hopeless. There's very little danger of any of our citizens having their pulses raised by watching us play in the World Cup. Spectators are more likely to be lulled into a gentle and restful nap.<br /><br />Singaporeans have a life expectancy of 81.8 years. Singapore men live to an average of 79.21 years, while Singapore women live more than five years longer, probably to take into account the additional time they need to spend in the bathroom.<br /><br />So here you are, in your twenties, thinking that you'll have another 40 years to go. Four decades in which to live long and prosper.<br /><br />Bad news. Read the papers. There are people dropping dead when they're 50, 40, 30 years old. Or quite possibly just after finishing their convocation. They would be very disappointed that they didn't meet their life expectancy.<br /><br />I'm here to tell you this. Forget about your life expectancy.<br /><br />After all, it's calculated based on an average. And you never, ever want to expect being average.<br /><br />Revisit those expectations. You might be looking forward to working, falling in love, marrying, raising a family. You are told that, as graduates, you should expect to find a job paying so much, where your hours are so much, where your responsibilities are so much.<br /><br />That is what is expected of you. And if you live up to it, it will be an awful waste.<br /><br />If you expect that, you will be limiting yourself. You will be living your life according to boundaries set by average people. I have nothing against average people. But no one should aspire to be them. And you don't need years of education by the best minds in Singapore to prepare you to be average.<br /><br />What you should prepare for is mess. Life's a mess. You are not entitled to expect anything from it. Life is not fair. Everything does not balance out in the end. Life happens, and you have no control over it. Good and bad things happen to you day by day, hour by hour, moment by moment. Your degree is a poor armour against fate.<br /><br />Don't expect anything. Erase all life expectancies. Just live. Your life is over as of today. At this point in time, you have grown as tall as you will ever be, you are physically the fittest you will ever be in your entire life and you are probably looking the best that you will ever look. This is as good as it gets. It is all downhill from here. Or up. No one knows.<br /><br />What does this mean for you? It is good that your life is over.<br /><br />Since your life is over, you are free. Let me tell you the many wonderful things that you can do when you are free.<br /><br />The most important is this: do not work.<br /><br />Work is anything that you are compelled to do. By its very nature, it is undesirable.<br /><br />Work kills. The Japanese have a term "Karoshi", which means death from overwork. That's the most dramatic form of how work can kill. But it can also kill you in more subtle ways. If you work, then day by day, bit by bit, your soul is chipped away, disintegrating until there's nothing left. A rock has been ground into sand and dust.<br /><br />There's a common misconception that work is necessary. You will meet people working at miserable jobs. They tell you they are "making a living". No, they're not. They're dying, frittering away their fast-extinguishing lives doing things which are, at best, meaningless and, at worst, harmful.<br /><br />People will tell you that work ennobles you, that work lends you a certain dignity. Work makes you free. The slogan "Arbeit macht frei" was placed at the entrances to a number of Nazi concentration camps. Utter nonsense.<br /><br />Do not waste the vast majority of your life doing something you hate so that you can spend the small remainder sliver of your life in modest comfort. You may never reach that end anyway.<br /><br />Resist the temptation to get a job. Instead, play. Find something you enjoy doing. Do it. Over and over again. You will become good at it for two reasons: you like it, and you do it often. Soon, that will have value in itself.<br /><br />I like arguing, and I love language. So, I became a litigator. I enjoy it and I would do it for free. If I didn't do that, I would've been in some other type of work that still involved writing fiction – probably a sports journalist.<br /><br />So what should you do? You will find your own niche. I don't imagine you will need to look very hard. By this time in your life, you will have a very good idea of what you will want to do. In fact, I'll go further and say the ideal situation would be that you will not be able to stop yourself pursuing your passions. By this time you should know what your obsessions are. If you enjoy showing off your knowledge and feeling superior, you might become a teacher.<br /><br />Find that pursuit that will energise you, consume you, become an obsession. Each day, you must rise with a restless enthusiasm. If you don't, you are working.<br /><br />Most of you will end up in activities which involve communication. To those of you I have a second message: be wary of the truth. I'm not asking you to speak it, or write it, for there are times when it is dangerous or impossible to do those things. The truth has a great capacity to offend and injure, and you will find that the closer you are to someone, the more care you must take to disguise or even conceal the truth. Often, there is great virtue in being evasive, or equivocating. There is also great skill. Any child can blurt out the truth, without thought to the consequences. It takes great maturity to appreciate the value of silence.<br /><br />In order to be wary of the truth, you must first know it. That requires great frankness to yourself. Never fool the person in the mirror.<br /><br />I have told you that your life is over, that you should not work, and that you should avoid telling the truth. I now say this to you: be hated.<br /><br />It's not as easy as it sounds. Do you know anyone who hates you? Yet every great figure who has contributed to the human race has been hated, not just by one person, but often by a great many. That hatred is so strong it has caused those great figures to be shunned, abused, murdered and in one famous instance, nailed to a cross.<br /><br />One does not have to be evil to be hated. In fact, it's often the case that one is hated precisely because one is trying to do right by one's own convictions. It is far too easy to be liked, one merely has to be accommodating and hold no strong convictions. Then one will gravitate towards the centre and settle into the average. That cannot be your role. There are a great many bad people in the world, and if you are not offending them, you must be bad yourself. Popularity is a sure sign that you are doing something wrong.<br /><br />The other side of the coin is this: fall in love.<br /><br />I didn't say "be loved". That requires too much compromise. If one changes one's looks, personality and values, one can be loved by anyone.<br /><br />Rather, I exhort you to love another human being. It may seem odd for me to tell you this. You may expect it to happen naturally, without deliberation. That is false. Modern society is anti-love. We've taken a microscope to everyone to bring out their flaws and shortcomings. It far easier to find a reason not to love someone, than otherwise. Rejection requires only one reason. Love requires complete acceptance. It is hard work – the only kind of work that I find palatable.<br /><br />Loving someone has great benefits. There is admiration, learning, attraction and something which, for the want of a better word, we call happiness. In loving someone, we become inspired to better ourselves in every way. We learn the truth worthlessness of material things. We celebrate being human. Loving is good for the soul.<br /><br />Loving someone is therefore very important, and it is also important to choose the right person. Despite popular culture, love doesn't happen by chance, at first sight, across a crowded dance floor. It grows slowly, sinking roots first before branching and blossoming. It is not a silly weed, but a mighty tree that weathers every storm.<br /><br />You will find, that when you have someone to love, that the face is less important than the brain, and the body is less important than the heart.<br /><br />You will also find that it is no great tragedy if your love is not reciprocated. You are not doing it to be loved back. Its value is to inspire you.<br /><br />Finally, you will find that there is no half-measure when it comes to loving someone. You either don't, or you do with every cell in your body, completely and utterly, without reservation or apology. It consumes you, and you are reborn, all the better for it.<br /><br />Don't work. Avoid telling the truth. Be hated. Love someone.<br /><br />You're going to have a busy life. Thank goodness there's no life expectancy.Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-32077748.post-69136166058942940782009-10-13T10:15:00.004+08:002009-10-13T11:42:35.703+08:00Project Work Oral Presentation - Tips and Some Great Presentations<div style="width: 425px; text-align: left;" id="__ss_85551"><a style="margin: 12px 0pt 3px; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; display: block; text-decoration: underline;" href="http://www.slideshare.net/thecroaker/death-by-powerpoint" title="Death by PowerPoint">Death by PowerPoint</a><object style="margin: 0px;" width="425" height="355"><param name="movie" value="http://static.slidesharecdn.com/swf/ssplayer2.swf?doc=death-by-powerpoint4344&stripped_title=death-by-powerpoint"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://static.slidesharecdn.com/swf/ssplayer2.swf?doc=death-by-powerpoint4344&stripped_title=death-by-powerpoint" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="355"></embed></object><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/2-ntLGOyHw4&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/2-ntLGOyHw4&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div><span style="font-weight: bold;"><br />Great Presentations</span><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/8D0pwe4vaQo&hl=en&fs=1&"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/8D0pwe4vaQo&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/gO420B02Q84&hl=en&fs=1&"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/gO420B02Q84&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><br /><span style="font-weight: bold;"><br />Great Speeches</span><br /><object width="384" height="313"><param name="movie" value="http://www.youtube.com/v/PbUtL_0vAJk&hl=en&fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/PbUtL_0vAJk&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>Unknownnoreply@blogger.com11tag:blogger.com,1999:blog-32077748.post-46337668107206672412009-08-29T18:44:00.002+08:002009-08-29T18:46:43.071+08:00Singapore Budget 2009 - Measures to Address Income InequalityMeasures to help reduce income inequality (targetted at helping the needy families) + how to increase Singapore's competitiveness<br /><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/sfJWLINBq3o&hl=en&fs=1&"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/sfJWLINBq3o&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-32077748.post-35482287417108046142009-08-29T11:24:00.000+08:002009-08-29T18:40:26.805+08:00The Emissions Trading System<object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/y7veRksc_Yk&rel=1"><param name="wmode" value="transparent"><embed src="http://www.youtube.com/v/y7veRksc_Yk&rel=1" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-32077748.post-15390831643577327942009-08-04T15:54:00.002+08:002009-08-04T15:59:01.640+08:00On Liberalisation & De-regulation in Singaporeread an earlier post... click <a href="http://econsiseasy.blogspot.com/2008/09/on-liberalisation-de-regulation-in.html">here</a><br /><br />Includes:<br /><br />- Definition: Privatisation, Deregulation and Liberalisation<br /><br />- Market Liberalisation in Singapore<br /><ul><li>Telecommunications market</li><li><span style="font-size:85%;">Electricity Retail Market</span></li><li><span style="font-size:85%;">Singapore media market</span></li><li><span style="font-size:85%;">Singapore's Gas Market</span></li><li><span style="font-size:85%;">Commercial Banking Sector</span></li><li><span style="font-size:85%;">Postal Services Market </span></li></ul>click <a href="http://econsiseasy.blogspot.com/2008/09/on-liberalisation-de-regulation-in.html">here</a>Unknownnoreply@blogger.com22tag:blogger.com,1999:blog-32077748.post-54476583125616982232009-06-29T00:33:00.000+08:002009-06-29T00:34:07.483+08:00Small is the new bigfrom <a href="http://sethgodin.typepad.com/seths_blog/2005/06/small_is_the_ne.html">Seth Godin's blog</a><br /><br />Big used to matter. Big meant economies of scale. (You never hear about “economies of tiny” do you?) People, usually guys, often ex-Marines, wanted to be CEO of a big company. The Fortune 500 is where people went to make… a fortune.<br /><br />There was a good reason for this. Value was added in ways that big organizations were good at. Value was added with efficient manufacturing, widespread distribution and very large R&D staffs. Value came from hundreds of operators standing by and from nine-figure TV ad budgets. Value came from a huge sales force.<br /><br />Of course, it’s not just big organizations that added value. Big planes were better than small ones, because they were faster and more efficient. Big buildings were better than small ones because they facilitated communications and used downtown land quite efficiently. Bigger computers could handle more simultaneous users, as well.<br /><br />Get Big Fast was the motto for startups, because big companies can go public and get more access to capital and use that capital to get even bigger. Big accounting firms were the place to go to get audited if you were a big company, because a big accounting firm could be trusted. Big law firms were the place to find the right lawyer, because big law firms were a one-stop shop.<br /><br />And then small happened.<br /><br />Enron (big) got audited by Andersen (big) and failed (big.) The World Trade Center was a target. TV advertising is collapsing so fast you can hear it. American Airlines (big) is getting creamed by Jet Blue (think small). BoingBoing (four people) has a readership growing a hundred times faster than the New Yorker (hundreds of people).<br /><br />Big computers are silly. They use lots of power and are not nearly as efficient as properly networked Dell boxes (at least that’s the way it works at Yahoo and Google). Big boom boxes are replaced by tiny ipod shuffles. (Yeah, I know big-screen tvs are the big thing. Can’t be right all the time).<br /><br />I’m writing this on a laptop at a skateboard park… that added wifi for parents. Because they wanted to. It took them a few minutes and $50. No big meetings, corporate policies or feasibility studies. They just did it.<br /><br />Today, little companies often make more money than big companies. Little churches grow faster than worldwide ones. Little jets are way faster (door to door) than big ones.<br /><br />Today, Craigslist (18 employees) is the fourth most visited site according to some measures. They are partly owned by eBay (more than 4,000 employees) which hopes to stay in the same league, traffic-wise. They’re certainly not growing nearly as fast.<br /><br />Small means the founder makes a far greater percentage of the customer interactions. Small means the founder is close to the decisions that matter and can make them, quickly.<br /><br />Small is the new big because small gives you the flexibility to change the business model when your competition changes theirs.<br /><br />Small means you can tell the truth on your blog.<br /><br />Small means that you can answer email from your customers.<br /><br />Small means that you will outsource the boring, low-impact stuff like manufacturing and shipping and billing and packing to others, while you keep the power because you invent the remarkable and tell stories to people who want to hear them.<br /><br />A small law firm or accounting firm or ad agency is succeeding because they’re good, not because they’re big. So smart small companies are happy to hire them.<br /><br />A small restaurant has an owner who greets you by name.<br /><br />A small venture fund doesn’t have to fund big bad ideas in order to get capital doing work. They can make small investments in tiny companies with good (big) ideas.<br /><br />A small church has a minister with the time to visit you in the hospital when you’re sick.<br /><br />Is it better to be the head of Craigslist or the head of UPS?<br /><br />Small is the new big only when the person running the small thinks big.<br /><br />Don’t wait. Get small. Think big.Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-32077748.post-12806436227380018672009-06-22T22:23:00.004+08:002009-06-22T22:38:21.264+08:00Cathay Pacific to launch major cost-cutting measures<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbq7kZoTyxx1zgeSi2mw5iTUvFvWzMxF6RachslvFG0bxzAK4-Bgv9IbrCM9EEkNKiGyKYB2Jx8h6xG7Rm6BwOvqTZvyNJfZ8GUFzm3Tzgwa88uHa767E3nhlgpk5UDsLSkFxM/s1600-h/cathay-b777-300er.jpg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 400px; height: 320px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbq7kZoTyxx1zgeSi2mw5iTUvFvWzMxF6RachslvFG0bxzAK4-Bgv9IbrCM9EEkNKiGyKYB2Jx8h6xG7Rm6BwOvqTZvyNJfZ8GUFzm3Tzgwa88uHa767E3nhlgpk5UDsLSkFxM/s400/cathay-b777-300er.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5350158185771573842" /></a><br /><span style="font-weight: bold;font-size:85%;" >Originally published on asia.businesstraveller.com 17/04/2009</span><br /><br />Deteriorating business conditions have forced Cathay Pacific (CX) to reduce passenger capacity by 8 percent and overall cargo capacity by 11 percent starting May. Its sister airline Dragonair will also see a 13 percent cut in passenger capacity.<br /><br />Simultaneously, CX is introducing a voluntary Special Leave programme for its 17,000 workforce worldwide, encouraging them to take unpaid leave between one and four weeks, depending on seniority. Other cost-cutting measures include deferring airport lounge renovations in Hongkong and London as well as deliveries of new aircraft, looking into whether or not to renew aircraft leases expiring, renegotiation with suppliers for more discounts.<br /><br />Tony Tyler, CX chief executive, said these decisions were taken “after carefully considering all our options”. He added the paramount aim was “keeping our network and team together in this challenging environment”.<br /><br />The staff, he believed, understood the rough patch their company was experiencing. He said: “One employee I met summed it up very well: ‘We are all in the same boat.’ What we’re trying to do now is to keep the boat afloat (while) sailing through the storm.”<br /><br />In the first quarter of the year, the airline’s turnover was 22.4 percent lower than the same period in 2008. Tyler warned that if the recession worsened, CX would look at instituting other measures, but what these were, he declined to say.<br /><br />CX has become the latest victim of the continuing global financial crisis.<br /><br />In February, Singapore Airlines cut passenger capacity by 11 due to falling demand and decommissioned 17 of its aircraft to cut costs. It is in talks with employees regarding early retirement and unpaid leave, but insisted that retrenchment was strictly a last resort.<br /><br />Qantas on April 14, announced it would slash up to 1,750 jobs, ground 10 aircraft and defer delivery of the superjumbo Airbus A380 and other aircraft. It has downgraded its profit forecasts by as much 80 percent.<br /><br />See also: <a href="http://retrenchment-blog.breaking.sg/2009/01/the-no-1-company-cost-cutting-move/">How companies are reducing costs</a><br /><br />Question:<br />What are some of the ways airline comapanies can cut costs in the economic downturn?Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-32077748.post-53730727471685995612009-06-22T22:09:00.003+08:002009-06-22T22:19:39.957+08:00CUTTING COSTS, SAVING JOBS - Kenny the Fish stays buoyant<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFz1D07qAhoLcitoLOwvYh4k5btCn4Yq3bnHv_d42vA6LL-YnotqipqhQsxdq-6Uh2rm3RxOwG_Y76fttkQWBVPu4zrkOUPV14PrL5wciY8faq1KKRbNUbBltzmn5n8umyDt06/s1600-h/qianhu03.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 150px; height: 209px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFz1D07qAhoLcitoLOwvYh4k5btCn4Yq3bnHv_d42vA6LL-YnotqipqhQsxdq-6Uh2rm3RxOwG_Y76fttkQWBVPu4zrkOUPV14PrL5wciY8faq1KKRbNUbBltzmn5n8umyDt06/s400/qianhu03.jpg" alt="" id="BLOGGER_PHOTO_ID_5350156197592219778" border="0" /></a><span style="font-weight: bold;font-size:85%;" >April 2, 2009 (ST by Yang Huiwen)</span><br /><br /><span style="font-weight: bold;">Boss of ornamental fish group Qian Hu has imbued staff with culture of cost consciousness</span><br /><br />THE global economy is in troubled waters, but ornamental fish group Qian Hu is well-placed to swim against the tide thanks to extensive measures to scale back costs.<br /><br />Having a boss known as Kenny the Fish who leads from the front and pledges no layoffs helps as well.<br /><br />Kenny Yap - executive chairman and managing director - told The Straits Times: 'In Chinese, there is a saying that business is half earned and half saved. That very much applies to us.'<br /><br />He has made the firm highly cost-conscious over the years and the culture has become so accepted by staff that it has allowed the firm to get even leaner during these times.<br /><br />Mr Yap, 43, who has won numerous entrepreneur awards, is credited with transforming a small time specialist breeder into an integrated group exporting ornamental fish to over 80 countries, with retail stores in Malaysia, Thailand China.<br /><br />The downturn has certainly hit the firm but the numbers still stack up pretty well.<br />Revenue dipped 7.2 per cent in the fourth quarter last year, but better cost controls meant net profit rose 10 per cent over 2007's to $1.74 million.<br /><br />'We've had a low-maintenance company lifestyle all along. It's all about building good habits when it comes to managing costs,' said Mr Yap.<br /><br />Keeping costs down became part of the group's DNA after an ambitious but expensive move to expand and diversify from 2004 to 2006 sent the firm briefly into the red. There was a desperate need to control costs then, prompting Mr Yap and two other deputy CEOs to give up bonuses for three years.<br /><br />It also taught valuable lessons in cost management that have left them in good stead to weather this global turmoil. Qian Hu is so cost-conscious it does not even engage a cleaner. Instead, staff draw up a duty roster and take turns to clean the premises at Jalan Lekar every day. This instils in employees the 'concept of ownership', said Mr Yap, who does his share of the work by cleaning the toilets.<br /><br />Leaders have to lead by example, he added. 'If you are fair to your employees, they will make sacrifices during bad times.'<br /><br />Good times or bad, senior executives fly economy class or even take budget airlines for business trips, and stay in two- or three-star hotels.<br /><br />But the firm is stepping up its cost-control measures, after setting an internal target to further bring down total expenses from the previous year's. Measures include more aggressive recycling, conserving energy, a cheaper menu at its corporate dinner and improving productivity of its fish breeding process.<br />Staff have been assured no one will be losing his rice bowl, thanks to its 'corporate culture of being prudent in spending, even during good times', said Mr Yap.<br /><br />Operations manager Ong Seng Ann, 41, said: 'All along, I think the company has been very conservative when it comes to spending. Everyone of us is doing his part and doing it well, and hopefully that will keep the company going strong.'<br /><br />He and his operations team, for example, are doing their bit by aiming to reduce the death rate of fish through more inspections and quality checks.<br /><br />The company has also become tougher on overtime claims. Operational staff, who take care of the fish, have been encouraged to 'clock out' when they have completed their day's work, said human resources senior manager Raymond Yip.<br /><br />It recently converted all its lever-type turn-on taps to spring-activated push taps to save water. There is also a greater focus on recycling items such as plastic bags and styrofoam boxes.<br /><br />Qian Hu is also cutting down on internal company events. Its recreational days for staff have been cut from three to two a year.<br /><br />The Jobs Credit scheme is offsetting about $220,000 in wage costs a year. This helps mitigate a 2 to 4 per cent increment in staff salaries implemented last year. There are no plans to freeze or cut pay, although the firm is capping headcount at the current 137 for its Singapore operations.<br /><br />Mr Chai Teck Yi, 24, who works in the export part of the business, said he was relieved that he was assured of his job. 'It helps that our bosses give us regular updates of how the company is doing and the plans they have in store.'<br /><br />Said Mr Yap: 'Frequent communication with employees is extremely important during the<br />cost-controlling period. This is because we must constantly impart that concept and at the same time update them on the progress so that they can be assured there is a purpose for their sacrifice and there are results as well.'<br /><br />Qian Hu is also taking a more cautious approach in managing cashflow. The finance department now monitors its debt collection on a daily basis to make sure customers are sticking to their credit terms, instead of a few times each month.<br /><br />'I don't think the business is recession-proof, but it is resilient,' said Mr Yap. For this year,the group will continue to focus on containing operating costs and increasing productivity, he said.<br /><br />Question:<br />Identify some of the ways Qian Hu is cutting costsUnknownnoreply@blogger.com2tag:blogger.com,1999:blog-32077748.post-15478372383944143452009-05-24T20:46:00.005+08:002009-05-24T20:53:29.508+08:00THE BIGGER PICTURE: MERGER TRENDS UNDER GLOBALISATIONThe last twenty years have witnessed perhaps the most drastic process of corporate consolidation in history. Since the middle of the 1980s, the rate of global merger activity has risen exponentially (see Figure 1). Between 1980 and 2000, the value of global mergers rose 100-fold, reaching $15 trillion by the Millennium.<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrSrKSK2XLUbJI4M8Z3a8cQMelPE5LpRhJScUykfU7n_phQu0KXYoeDwG9RkJntisP92XEb0Uq3gwwOlJU5X88jveE6Yfzyc2Y108JcTl4alsLUhaHkHGtfUKGG0VcjgOx2s6y/s1600-h/Global+Merger+Values.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 254px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrSrKSK2XLUbJI4M8Z3a8cQMelPE5LpRhJScUykfU7n_phQu0KXYoeDwG9RkJntisP92XEb0Uq3gwwOlJU5X88jveE6Yfzyc2Y108JcTl4alsLUhaHkHGtfUKGG0VcjgOx2s6y/s400/Global+Merger+Values.jpg" alt="" id="BLOGGER_PHOTO_ID_5339371674470766962" border="0" /></a><br />In 1999, the number of merger deals announced was triple what it had been a decade earlier, and 30 times what it was in 1981 – although there has been a marked slowdown since the burst of the dotcom towards the end of 2000 and subsequent downturn in the global economy.<br /><br />Just as significant as the volume and value of merger activity in this timeframe was the nature of the deals being negotiated. Whereas the great majority of deals up to the 1990s took place within national boundaries, the last decade or so has witnessed a marked increase in the number of cross-border mergers. While international deals represented less than 20% of total merger value in the early 1980s, the proportion had risen to 33% by the Millennium.<br /><br />While M&A activity has been widespread across numerous sectors, the industries most affected have been telecommunications, pharmaceuticals, media, automotives, energy, utilities, defence, food retail, and financial services. This has reflected not only a more ambitious growth agenda of trans-national corporations in recent years, but also an increased incentives for global amalgamation brought about by the integration of financial markets, trade liberalisation, deregulation and privatisation of national industries that have been the hallmark of neo-liberal economic globalisation. Companies have also sought to create synergies between closely linked areas of business activity, and realise efficiency gains through economies of scale.<br /><br />Ironically, corporate consolidation has also been self-perpetuating, with big mergers following other big mergers as companies struggle to keep pace with their larger competitors. This, as we will see, has been one of the major concerns of government authorities seeking to ensure that corporate takeovers do not trigger a snowball effect that leads to rapid concentration in markets.<br /><br />Another (unsurprising) feature of corporate mergers is that the vast majority of large deals over recent years have involved companies in Western Europe and North America. However, developing country firms have become popular targets for large multinationals. As Western multinationals grow ever-larger – and privatisation and liberalisation continue to open up new investment opportunities – companies in developing nations are being increasingly targeted by TNCs. This is reflected in the fact that cross-border mergers and acquisitions made up roughly 85% total foreign direct investment by the end of the 1990s.<br /><br />(read <a href="http://www.neweconomics.org/gen/uploads/gx2dcv45szxpsn55yohg3rjh01082003160112.pdf">article</a>)Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-32077748.post-30652190995031788262009-05-08T01:18:00.000+08:002009-05-08T01:19:41.620+08:00Understanding the US Credit Crisis<object width="400" height="225"><param name="allowfullscreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="movie" value="http://vimeo.com/moogaloop.swf?clip_id=3261363&server=vimeo.com&show_title=1&show_byline=1&show_portrait=0&color=&fullscreen=1" /><embed src="http://vimeo.com/moogaloop.swf?clip_id=3261363&server=vimeo.com&show_title=1&show_byline=1&show_portrait=0&color=&fullscreen=1" type="application/x-shockwave-flash" allowfullscreen="true" allowscriptaccess="always" width="400" height="225"></embed></object><p><a href="http://vimeo.com/3261363">The Crisis of Credit Visualized</a> from <a href="http://vimeo.com/jonathanjarvis">Jonathan Jarvis</a> on <a href="http://vimeo.com">Vimeo</a>.</p>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-32077748.post-22316857064868560612009-04-29T22:12:00.005+08:002009-04-30T08:32:23.852+08:00Designing the Tata Nano - The World's Cheapest Car<span style="font-weight: bold;">World's cheapest car goes on show (Topic - Cost of Production)</span><br /><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/TQ0AUawbDGQ&hl=en&fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/TQ0AUawbDGQ&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><br />See key features that make the Tata Nano so cheap.<br /><br />Apr 9, 2009 - DELHI - Tata Motors has unveiled the world's cheapest motor car at India's biggest car show in the capital, Delhi.<br /><br />The vehicle, called the Tata Nano, will sell for 100,000 rupees or US$2,500 (£1,277) and enable those in developing countries to move to four wheels.<br /><br />The four-door five-seater car, which goes on sale later this year, has a 33bhp, 624cc, engine at the rear.<br /><br /><span style="font-weight: bold;">It has no air conditioning, no electric windows and no power steering</span>, but two deluxe models will be on offer.<br /><br />Tata will initially make about 250,000 Nanos and expects eventual annual demand of one million cars.<br /><br />The price will be slightly more than the 100,000 once tax and other costs are taken into consideration.<br /><br />The Nano release comes as <span style="font-weight: bold;">India's domestic car market is predicted to soar in the coming years on the back of the country's fast-growing economy and increased consumer wealth</span>.<br /><br /><span style="font-weight: bold;">'People's car'</span><br /><br />Indian car sales are predicted to more than quadruple to $145bn by 2016.<br /><br />Company chairman Ratan Tata said the launch of the Nano was a landmark in the history of transportation.<br /><br />He said the car was "a safe, affordable and all weather transport - a people's car, designed to meet all safety standards and emissions laws and accessible to all".<br /><br />Environmental critics have said that the car will lead to mounting air and pollution problems on India's already clogged roads.<br /><br />But Tata said the car had passed emission standards and would average about 50 miles to the gallon, or five litres per hundred kilometres.<br /><br />The firm also said it would introduce a diesel version of the Nano at a later date.<br /><br /><span style="font-weight: bold;">'Family transport'</span><br /><br />At the unveiling ceremony Mr Tata said: "I observed families riding on two-wheelers - the father driving the scooter, his young kid standing in front of him, his wife seated behind him holding a little baby.<br /><br />"It led me to wonder whether one could conceive of a safe, affordable, all-weather form of transport for such a family.<br /><br />"Tata Motors' engineers and designers gave their all for about four years to realise this goal.<br /><br />"Today, we indeed have a People's Car, which is affordable and yet built to meet safety requirements and emission norms, to be fuel efficient and low on emissions."<br /><br />Ravi Vangala, of Hyderbad, India, said: "I... congratulate Tata for his dream, and I will definitely buy the Tata Nano car."<br /><br /><u>Questions</u><br /><ol><li>Identify the fixed and variable costs that goes into making the Tata Nano.</li><li>How did Tata manage to cut the costs of production in making the Tata Nano?<br /></li></ol>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-32077748.post-55333901955276674772009-04-24T17:06:00.002+08:002009-04-29T22:19:26.862+08:00Recession: Who Gets Hit and Who Doesn't?<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/Lkf1tpsdcDM&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/Lkf1tpsdcDM&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><br /><br />Guiding Questions<br /><ul><li>Identify the factors affecting the sales of fast food chains such as McDonalds.</li><li>To what extent are elasticity concepts relevant for explaining the current situation faced by these firms?</li></ul>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-32077748.post-33407726784022356202009-04-23T23:14:00.001+08:002009-04-29T22:19:26.862+08:00Videos: Elasticity of DemandSome videos used or mentioned in the H2 lectures<br /><br /><div><object width="480" height="381"><param name="movie" value="http://www.dailymotion.com/swf/x871g2_real-world-economics-elasticity-of_school&related=1"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.dailymotion.com/swf/x871g2_real-world-economics-elasticity-of_school&related=1" type="application/x-shockwave-flash" allowfullscreen="true" allowscriptaccess="always" width="425" height="344"></embed></object><br /><b><a href="http://www.dailymotion.com/video/x871g2_real-world-economics-elasticity-of_school">Real World Economics - Elasticity of Demand</a></b><i><a href="http://www.dailymotion.com/Blessed_Hope"><br /></a></i></div>Learn Price Elasticity of Demand (PED) from the contrasting examples of Pedro the fishmonger and the Island ferry company.<br /><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/FkwVP4nQmKM&hl=en&fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/FkwVP4nQmKM&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><br /><br />Application of Price Elasticity of Demand and Cross Elasticity of Demand - Fake Disneyland in Beijing? Is this a close substitute to the "real thing"? Should the "real" Disneyland in Hong Kong differentiate itself from this amusement park? Why and why not? What strategies can they employ to tackle the challenge posed by other amusement parks such as this one?<br /><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/SFtl764Rp4o&hl=en&fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/SFtl764Rp4o&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><br /><br />Income Elasticity of Demand - Look at how luxury goods are affected by the global economic downturn. What determines the impact of the recession on a particular product?Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-32077748.post-14443274363981468472009-04-23T00:27:00.012+08:002009-04-29T13:05:08.718+08:00How I Studied (or at least tried to make it pain-free)<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8jDtpirpe1CZ2vYddQMOECLDX-JOUvf4RYS1ISevdCnGMMOztTAKGCdR3WXqjDkOsJcusJ6uyzmXe94yNQWrUQL03c8urXhhD84hchKvh_LTVWXElNWkbQabkXx95E5lDATR-/s1600-h/reading.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 288px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8jDtpirpe1CZ2vYddQMOECLDX-JOUvf4RYS1ISevdCnGMMOztTAKGCdR3WXqjDkOsJcusJ6uyzmXe94yNQWrUQL03c8urXhhD84hchKvh_LTVWXElNWkbQabkXx95E5lDATR-/s400/reading.jpg" alt="" id="BLOGGER_PHOTO_ID_5327562135178946706" border="0" /></a>I recently took two 3-hour long essay-based exams, part of the part time Masters programme I'm currently doing at NTU.<br /><br />I'm still in my first semester (out of 5) but I've gained some "wisdom" that I thought may be worth sharing with you, especially if you are one of those not "coping" so well at this moment with your studies, or have always wondered if you were studying "right".<br /><br />Doing a part time Masters programme is actually rather painful... Although the lessons are only twice a week, they are three hours long (with a 5 mins break in-between), in the evenings from 6.30 to 9.30pm after a long day of work, and there are tonnes of readings to be done, everything from 30 to 60 pages of journal articles per week.<br /><br />At the same time, there are long written assignments (2500 words) to be completed, with bibliography and all; class discussions which we have to participate in as they are graded, as well as individual 1 hour long presentations to be done, in which we also have to come up with discussion questions to lead the class.<br /><br />And at the end of the semester, after 13 weeks of lessons, we have an exam to take for which we have barely 1 week or so to study, on top of still going to work. And for these exams, we will have to study pretty much alone, cos we don't actually have "consultations" where we get more advice on our materials from our lecturers.<br /><br />So how do I cope?<br /><br />The answer is: Consistent class and homework; as well as studying hard and very smart for the exams.<br /><br /><span style="font-weight: bold;">Before lessons: </span>I try to complete the required readings, no matter how long they are (30, 60, 90 pages). That usually means I'll have to give up some of my activities in the weekends. On some Sundays, I'll be reading after lunch all the way to evening/dinner time. I don't try to deceive myself by saying "I'll do it later". I won't. And besides, I'll have other readings that I'll need to do. Then I'll be playing "catch-up" all the time. And anyway, reading ahead helps me to understand the lessons better and I may even be able to ask better questions and take part in discussions. I'm not being "kiasu". I'm just "minimising" the pain I'll feel later...<br /><br /><span style="font-weight: bold;">Readings: </span>There is a trick to understanding what a long journal article is really saying - either read the abstract that is given, or go straight to the "Conclusion". Usually, the summary is given, the key points reiterated, which makes the article that much easier to understand when you read the whole thing later. And if a short review of the journal article is given online, better still. Read it to get a quick idea of what the article is about. And to speed read, do not <span style="font-style: italic;">"subvocalise"</span>, or what they call "silent speech", which is defined in Wikipedia as the <span style="font-style: italic;">"internal speech a person</span><span style="font-style: italic;"> makes when reading a word, or imagining the sound of the word as it is read"</span>. This is WHY many people read quite slowly, cos they read word by word, as if they are vocalising each word in their mind. It is a habit that is not easy to break, especially if you have been doing it all your life. But if you can train only your eyes to move, you can read a lot more quickly. Trust me. Oh, and if you know you need to review the material again later, just before your exams, then when you are reading it now, highlight the key points and write annotations. It will help you save A LOT OF TIME later when you revise.<br /><br /><span style="font-weight: bold;">During lesson time:</span> I try to pay 100% attention to the lecturer; and take down in the margins whatever points he/she says that I think may be helpful in my understanding or revising of the material later on for my exams. Since I won't have a chance to ask questions later, or may forget what I need to ask, I try to raise the question in class instead of staying ignorant. Anyway, when you are ready to ask questions, you tend to stay awake better too.<br /><br /><span style="font-weight: bold;">Assignments/Presentations/Class Discussions:</span> I try to "ace" them as well as I can. I do the research that needs to be done. I try to know the topic very very well. I study the question carefully and try to answer it. REALLY ANSWER IT. By doing well in my assignments, I find that I would have also covered the topic pretty well and when it comes to revision later on, I can practically "skip" the topic cos I'm already so familiar with it. TIME IS EXTRA PRECIOUS during revision time so the less studying I need to do, the better. And if the assignment is graded, I'll have already scored part of the marks and I need to worry about my final exam a lot less.<br /><br /><span style="font-weight: bold;">Exam Preparation: </span> When I'm a student preparing for the exams, I study. Plain and simple. I put in the hours that I need to put in (as much as it is necessary to cover ALL the materials) and put aside all unnecessary distractions, including the phone, the Internet or TV. I try to get enough sleep just to keep healthy and eat properly (avoiding starchy food that makes me sleepy) and drink enough water to ensure I don't dehydrate. And how do I make sure I"m studying smart? To make sure that what I am studying is "meaningful", I create questions that I have to answer. These questions can be "lower level questions", such as recall type to help me remember stuff, or "higher level questions", such as discussion of both sides of an issue. Creating questions also helps me to see the broad issues surrounding a topic, which in a sense allows me to anticipate what may come out in an exam.<br /><br />Do not just "go through the motions" flipping through the notes. If you can't recall what you have read, YOU HAVE WASTED YOUR TIME!<br /><br /><span style="font-weight: bold;">Pre-Exam: </span>I try not to cramp any material into my brain in the last minute. I just pick up my list of questions and jog my memory a bit to make sure the stuff I know is ready for recall. No point picking up a whole set of notes and re-reading. You will only exhaust your mind and make yourself nervous. An hour or two before the exams you really can't do anymore.<br /><br />So this is what I did. Hope it helps.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-32077748.post-82672943593345762009-04-19T10:44:00.002+08:002009-04-29T22:19:26.863+08:00Case Study Assignment - The Market For Organic FoodSome tips and reminders:<br /><br />(a)(i) With reference to figure 1, describe the trend of organic food sales from 1998 to 2006. [2]<br /><ul><li>Look carefully as Figure 1 comprises three different graphs. Consider carefully which one is relevant for answering the question.</li><li>Trend has already been taught to you in class. Remember NOT to merely describe the graph – your examiner can read it him/herself! Show you can identify the general trend as well as highlight any specific features of the trend. Note that the question is worth 2 marks so do not just give one point (for data interpretation questions).</li></ul>(a)(ii) Account for the trend shown in (a)(i) [4]<br /><ul><li>Command word: Account for – what does this word require of you? Note that the question is worth 4 marks so a certain level of elaboration and display of the relevant skills is expected.</li><li>Content: Relevant data from the extracts should be found to support your answer. However, DO NOT JUST QUOTE DIRECTLY FROM THE PASSAGE as your answer! Link it to the appropriate economic terms and analysis – Note: this is NOT a COMPREHENSION QUESTION!</li></ul> b. Discuss the likely impact of the current worldwide recession and the recent incidents of food scares on the market for organic food. [6]<br /><ul><li>Command word: Discuss – what does this word require of you? Note that as a result, the question is worth 6 marks as an even higher level of response (i.e. consideration of two sides) is expected. Note: How will you SHOW that you are discussing? </li><li>Content: Again, DO NOT JUST QUOTE DIRECTLY FROM THE PASSAGE! While you should refer to the relevant data given, you need to link to appropriate economic terms and analysis. Link to your understanding of economics (both economic terms and analysis) – this is NOT a COMPREHENSION QUESTION!</li><li>Content: What does it mean by "market for organic food"? You should note that in the whole of Topic 3, you have been studying various markets and how they respond to changes in demand and supply factors; and as a result new market equilibriums are achieved. Hence, to give a comprehensive answer to this question obviously requires you to do the necessary analysis in this manner.</li></ul> c. Evaluate the measures that organic food producers and retailers CAN adopt to raise their profit levels. [8]<br /><ul><li>Command word: Evaluate – what does this word require of you? Note that as a result, the question is worth even more, at 8 marks as an even higher level of response (i.e. judgement) is expected. What should you consider when you evaluate a measure? Strengths? Limitations? Effectiveness? </li><li>Content: Profit level is calculated as the difference between total revenue and total cost. Hence, measures can be drawn from both the revenue and cost side – consider what can affect the revenue and cost of firms, drawing from what you have learnt so far in the lessons.</li><li>Content: Make reference to the given data where available. Looking at the word: ‘CAN” - you may be tempted to merely come out with your own measures but note that since this is a case study, you should draw from the various sources as far as possible if it is available.</li></ul>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-32077748.post-68121005839457653882009-04-06T17:38:00.006+08:002009-04-29T22:19:26.863+08:00Article - Hotels cut room rates as occupancies slide<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWnn-eDymN_-C4sC0utAFkmXC01Z3VltNb9T7JiacE_ylMabsb7hzmUYUlwO_hi1yMkb3CIxoSQRZUb70oq1DLtTGsAP_H_48WUqzbpVtbALVSIZ-mDsEHyvY0Hw4k-duDfvgz/s1600-h/RafflesSingaporeFront.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 399px; height: 299px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWnn-eDymN_-C4sC0utAFkmXC01Z3VltNb9T7JiacE_ylMabsb7hzmUYUlwO_hi1yMkb3CIxoSQRZUb70oq1DLtTGsAP_H_48WUqzbpVtbALVSIZ-mDsEHyvY0Hw4k-duDfvgz/s400/RafflesSingaporeFront.jpg" alt="" id="BLOGGER_PHOTO_ID_5321511337772518754" border="0" /></a><span style="font-size:85%;"><span style="font-weight: bold;">Room rates fall up to 20 percent; corporate demand slows as companies cut cost. -BT</span></span><br /><br />Thu, Mar 26, 2009<br />The Business Times<br /><br />By Nisha Ramchandani<br /><br />IT'S known that what goes up must come down, but in this case, the inevitable may be coming a little quicker and sharper than expected as lower occupancies force hotels to cut room rates.<br /><br /><span style="font-weight: bold;">At the Rendezvous Hotel for example, corporate rates have gone down 20 per cent to $190++ and walk-in rates have dropped 20 per cent to $220++.</span> Average occupancy is hovering at 70 per cent, versus last year's 80 per cent. The hotel aims to beef up occupancy through a lower room rate so as to reclaim its 80 per cent occupancy level.<br /><br />The <span style="font-weight: bold;">Royal Plaza on Scotts has adjusted average room rates downward by 12 per cent, due to weakening demand for high end products such as club rooms and suites</span>, says Patrick Fiat, general manager. Its room rates currently start from $198++.<br /><br />At the Marina Mandarin, rates are down year on year but the hotel declined to give figures. Occupancies for Q1'09 were as expected, but rates are "under pressure".<br /><br /><span style="font-weight: bold;">One of the reasons for this is a drop in business travel as companies try to keep expenses down.</span><br /><br />"Since the last quarter of last year, we observed that there has been a slowdown in the corporate sector. <span style="font-weight: bold;">Currently, the business trend is still on the slow side, hence we have adjusted the rates to further suit our client spending power</span>," said a spokesperson from the Marina Mandarin.<br /><br />Over at the <span style="font-weight: bold;">St Regis Hotel</span>, room rates for both frequent individual travellers (FIT) and corporate have been lower for the first two months of the year compared to the corresponding period in 2008, according to Cheryl Ong, its director of marketing communications. <span style="font-weight: bold;">"Occupancy is under pressure with lesser in-bound travel into Singapore," she added, but declined to comment on actual figures.</span><br /><br /><span style="font-weight: bold;">Hotels are also offering value-added packages. </span>The Novotel Clarke Quay, for instance, has tweaked rates by between 5-10 per cent for key corporate clients. Those that forego the discount can look forward to other perks such as transportation and Internet service, said general manager Heinz Colby.<br /><br /><span style="font-weight: bold;">And as some consumers trade in their five-star hotel stays for value-for-money accommodation, hotels in the three and four star range are expecting to reap the benefits, although such establishments won't escape unscathed either.</span><br /><br />"There are clients who are looking for cheaper accommodation. Hence, we are also affected. For leisure, we see a <span style="font-weight: bold;">decline in visitor arrival especially for long haul travel</span>," said Kellvin Ong, general manager of the four star Rendezvous Hotel.<br /><br /><span style="font-weight: bold;">"There are also other factors which may affect occupancy. New kids on the block are sprouting, which may shrink the pie," he added.</span><br /><br /><span style="font-weight: bold;">Indeed, another hurdle facing the industry, aside from the slump in visitor arrivals, is the injection of supply that the market will see this year as new hotels come on stream</span>.<br /><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/A1RGgwsE6T0&hl=en&fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/A1RGgwsE6T0&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object><br /><br />The <span style="font-weight: bold;">recently launched Ibis Singapore - a no-frills, three star hotel by the Accor group - offers rooms starting from $138 per night. Other hotels that are expected to open their doors this year include the 336-room Park Hotel Clarke Quay</span>.<br /><br /><span style="font-weight: bold;">According to a Kim Eng report, an estimated 2,000 hotel rooms from the Marina Bay Sands and a further 1,640 rooms from other hotels are slated for completion in 2009. This would raise the total available room-nights by 12 per cent to 11.7 million for 2009. There are currently 39,000 hotel rooms in Singapore, said the Singapore Tourism Board (STB).</span><br /><br />If the integrated resorts (IR) fail to draw the crowds, Kim Eng estimates that average occupancy rate (AOR) could fall to 55 per cent by year end, and to 50 per cent by end 2010 - not far from the lows plumbed at the height of the Sars outbreak in May 2003, when AOR fell to 34 per cent.<br /><br />On the flip side,<span style="font-weight: bold;"> a successful showing by the IRs coupled with the positive impact of the various global stimulus packages and the efforts of STB's $90 million BOOST scheme could stabilise AOR at 60-65 per cent for 2009 and 2010, </span>Kim Eng reckons.<br /><br />Meanwhile, hotels are banking on recent efforts by STB and tie-ups with airlines such as Singapore Airlines to bring the tourists back.<br /><br /><span style="font-weight: bold;">"We are expecting last minute bookings from the region as the various airlines have come up with promotions to stimulate travel. We are optimistic that there will be business out there although the numbers have not yet shown it,</span>" said Mr Ong.<br /><br />STB's figures for January 2009 saw average room rate (ARR) sliding 11.7 per cent year on year to $209, while AOR dropped 17.7 percentage points to 67 per cent, well below last year's overall AOR of 81 per cent. Revpar (revenue per available room) fell 30.2 per cent year on year to $140. Hotels pulled in $124 million in room revenue, a staggering 29.9 per cent less than the corresponding month in 2008.<br /><br />In contrast, for 2008 as a whole, ARR was $246, an increase of 21.9 per cent over 2007. For the first time since 2003, AOR was down by six percentage points to 81 per cent while Revpar for the year reached $199, up 13.5 per cent from 2007.<br /><br />For January 2009, luxury and upscale hotels suffered larger drops in ARR and Revpar, while hotels in the economy tier - budget hotels in outlying areas - emerged in a better position.<br /><br />However, economy hotels still saw a 3.4 per cent year on year dip in ARR to $101 for January, and a 26.8 per cent fall in Revpar to $66.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-32077748.post-11250377831293633202009-04-04T13:28:00.003+08:002009-04-05T22:38:07.390+08:00Article - It pays to do econs at SMUBy Jane Ng & Amelia Tan (ST 4 April 2009)<br /><br />ARE you pondering what field of study to take up at university? <p>If you qualify, picking economics at the Singapore Management University (SMU) or business at the National University of Singapore (NUS) would be worthy options. </p><p>Those armed with such qualifications emerged as the top earners in the latest Graduate Employment Survey, which was published by the Ministry of Education for the first time. </p><p>SMU economics graduates with cum laude and higher qualifications landed average monthly salaries of $4,164, a shade above the $3,971 earned by NUS business administration honours graduates. </p><p>At Nanyang Technological University (NTU), those with chemical and biomolecular engineering degrees made the most, an average of $3,232 a month. </p><p>The results of the survey, which looked at those who graduated last year and landed a job within six months, were released yesterday. In the past, the three universities did their own surveys and released results separately, but the different benchmarks they used confused some students. </p><p>Explaining the change, the MOE said yesterday that it was made so that students could make informed course decisions. Said a spokesman: 'The data gives prospective students a general indication of the employment conditions of the graduates from the various degree courses offered by our local universities. </p><p>'We understand employment conditions may have changed since, but we hope that the data may still be useful as one point of reference for the students.' </p><p>The latest figures threw up one surprise: Those who picked teaching as a career emerged among the top earners. </p><p>Those who received Arts (with Education) qualifications from the National Institute of Education made an average of $3,207 a month. </p><p>Engineering graduates, too, did well. </p><p>Those from NUS made between $2,864 (environmental engineering) and $3,448 (computer engineering from its School of Computing), while those from NTU earned between $2,891 (environmental engineering) and $3,232 (chemical and biomolecular engineering). </p><p>These figures may prompt more interest in the field, which has struggled to attract students. </p><p>Enrolment in courses such as mechanical and electrical engineering has plunged in popularity in the last decade as undergrads moved towards 'softer' options such as business. </p><p>In recent years, attempts have been made to increase interest in engineering by introducing new areas such as aerospace engineering, but interest has still flagged despite the relatively high starting salaries for graduates. </p><p>Of the three universities, only SMU was able to provide overall average monthly salaries for its graduates across all courses: The figure was $3,170, up from $3,040 in 2007. </p><p>Overall, employment rates were also positive, and were little affected by the financial crisis, which began biting last September. </p><p>At SMU, eight in 10 graduates secured job offers either before graduation or within a month of graduation. </p><p>At NUS, information systems students from the school of computing as well as dentistry students saw a 100 per cent employment rate, as did maritime studies students from NTU, and SMU information systems students with cum laude and higher qualifications. </p><p>However, human resource and wage consultants interviewed warned that the picture will not be as rosy for those about to graduate over the next few months, and they should not expect the same kind of pay and employment prospects as their seniors. </p><p>Human resource consultancy GMP Group's senior manager Josh Goh said many firms are already slashing new hires' pay by 5 per cent to 15 per cent. He expects further cuts if the recession deepens. </p><p>Singapore Human Resources Institute executive director David Ang said it will be tougher for fresh graduates to get employed as they will also be competing with recently retrenched workers for jobs. </p><p>'My advice to students is to be open to jobs which they were not specifically trained for. You can learn on the job too.' </p><p>The full employment survey can be found at <a href="http://www.moe.gov.sg/education/post-secondary/">www.moe.gov.sg/education/post-secondary/ </a> </p>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-32077748.post-29897777055834623822009-04-01T23:03:00.014+08:002009-04-29T22:19:26.863+08:00Market Equilibrium: Recent changes in the markets for some goods & services in Singapore<span style="font-weight: bold;font-size:130%;" >1) Premium seats hit</span><span style="font-weight: bold;font-size:85%;" ><br /><br /></span><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3sfCJD0oWIl7Rw412N8NEoWAsIPCIvxBt2Ztf5faVelcSYL5NMbMqp8iN9Jhyphenhyphenmx7eplyRzexrjiRU1vFccl2NSCQfnhyqwccgiSVlY0Q5oSLNXMtmvLBsHZPvrsL-22GsbJ1h/s1600-h/premiumseats.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 330px; height: 231px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3sfCJD0oWIl7Rw412N8NEoWAsIPCIvxBt2Ztf5faVelcSYL5NMbMqp8iN9Jhyphenhyphenmx7eplyRzexrjiRU1vFccl2NSCQfnhyqwccgiSVlY0Q5oSLNXMtmvLBsHZPvrsL-22GsbJ1h/s400/premiumseats.jpg" alt="" id="BLOGGER_PHOTO_ID_5320549198629222146" border="0" /></a><span style="font-weight: bold;font-size:85%;" >Asian airlines worst hit as demand for top cabins falls 23.4% (ST March 18</span><span style="font-weight: bold;font-size:85%;" >, 2009)</span><br /><br />by Karamjit Kaur, Aviation Correspondent<br /><br />AIRLINES are finding it tough to fill first and business class cabins as the <span style="font-weight: bold;">global economic downturn continues to hit demand</span>. <p> <span style="font-weight: bold;">Travellers downgrading or just not flying</span> led to so-called premium traffic sliding 16.7 per cent industry-wide in January, compared with the same month last year.<br /></p><p><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBGMpLAoq7vByI4SXPvodl8qB69moa5eQG_7bk8Kd5pJW6UY3skeagGu3xhhRRn1xNI7plT96v3O_ddMkwI3VktBokgwtqBDqS5l7np5HS4fPKSIecBCS7ei2o3JXJSyv6g-69/s1600-h/Data---Premium-Travellers.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 323px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBGMpLAoq7vByI4SXPvodl8qB69moa5eQG_7bk8Kd5pJW6UY3skeagGu3xhhRRn1xNI7plT96v3O_ddMkwI3VktBokgwtqBDqS5l7np5HS4fPKSIecBCS7ei2o3JXJSyv6g-69/s400/Data---Premium-Travellers.jpg" alt="" id="BLOGGER_PHOTO_ID_5320549554248013938" border="0" /></a></p><p> </p>It was the worst showing in more than 20 months, and Asian carriers like Singapore Airlines (SIA) and Cathay Pacific are bearing the brunt of the slump. <p> The weakest premium travel markets are those associated with this region, according to new data from the International Air Transport Association (Iata), which represents about 230 carriers. </p><p> Within Asia, premium traffic fell by a higher-than-average 23.4 per cent. Trans-Pacific premium traffic took a 24.7 per cent hit. </p><p> <span style="font-weight: bold;">Falling fares and fuel surcharges are also alarming carriers like SIA, which earn almost half of their revenues from top-tier travellers. </span></p><p> A recent American Express survey found business class fares out of Singapore fell 3 per cent in the last three months of last year, compared with the July-September period. </p><p> Iata estimates that revenues from premium passengers industry-wide were down at least 25 per cent in January. </p><p> The overall drop of 16.7 per cent in the premium segment compares with a 5.9 per cent decline for air traffic across the board. </p><p> Iata said: 'What started as a financial crisis in the Western economies has now become a manufacturing crisis, hitting the export-dependent economies of Asia hardest.' </p><p> <span style="font-weight: bold;">To survive what has been described as the worst crisis in decades, airlines are taking tough measures, including slashing capacity, parking planes and cutting jobs</span>. </p><p> SIA, for one, plans to <span style="font-weight: bold;">cut 11 per cent of its total capacity in the next 12 months</span>. But with demand falling at a much faster pace, industry experts have warned of tougher times ahead. </p><p> Last month, SIA carried 1.18 million passengers, 20.2 per cent down from the same month a year earlier. </p><p> The steep fall came despite a 8.5 per cent cut in capacity. </p><p> Across its network, the airline filled just 69.7 per cent of available passenger seats, down 7.1 percentage points from a year earlier. </p><p> Cargo volumes also slipped, down by 16.9 per cent to just below 80 million kg, with SIA filling 56.7 per cent of available freight space. </p><p> This was down 5.5 percentage points from last year. </p><p> SIA, which unveiled its performance data yesterday, said: 'The prevailing global economic crisis has significantly dampened travel demand, translating to weaker uplifts.' </p><p> This was in contrast to the performance in February last year, which was supported by the Chinese New Year holiday peak, the Changi Airshow and the additional day in the leap year. </p><p> <span style="font-weight: bold;">The airline said it will continue to monitor traffic movements and make the adjustments to its route network where necessary to match capacity to demand</span>.<br /></p><p>--------------------------------------------------------------------------</p><span style="font-weight: bold;font-size:130%;" >2) Public transport cheaper now</span><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPsAmDnb2hww4jNm0-Dyt5vVw5331o1maBRlaZgIPC5FXbRn1AqRnXZ3YsMgm9oYLZP3PH1qe8H6QUSBUFBteWajU-PAv4wZU-aTLNS1uc72WLsTiDiMUq68DXOeA1n0DqI35w/s1600-h/farecuts.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 320px; height: 204px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPsAmDnb2hww4jNm0-Dyt5vVw5331o1maBRlaZgIPC5FXbRn1AqRnXZ3YsMgm9oYLZP3PH1qe8H6QUSBUFBteWajU-PAv4wZU-aTLNS1uc72WLsTiDiMUq68DXOeA1n0DqI35w/s320/farecuts.jpg" alt="" id="BLOGGER_PHOTO_ID_5319740092956127874" border="0" /></a><span style="font-weight: bold;"><br /></span> (ST April 1, 2009)<br /><br /><span style="font-size:85%;"><span style="font-weight: bold;">SBS Transit operations staff member Tan Kian Guan (left) and Land Transport Authority fare system engineer Ng Wee Hong checking on the systems software in SBS Transit buses to prepare for the new fares.</span> </span>-- ST PHOTO: MUGILAN RAJASEGERAN<br /><br />COMMUTERS will save more on public transport from today, as lower fares kicked in this morning.<br /><br />They will now pay two cents less on each bus or train trip. And due to a more generous transfer rebate, those who make transfers will save more, starting at 14 cents for a journey with one transfer.<br /><br />To prepare for the new fares, thousands of buses and hundreds of MRT fare gates went through a final round of checks last night.<br /><br />Tests were also carried out overnight at MRT computer control rooms to verify that the new fares were in place. The final round of checks follows weeks of testing of the fare systems to ensure that there are no glitches today.<br />--------------------------------------------------------------------------<br /><span style="font-weight: bold;font-size:130%;" >3) Monitoring use of fuel</span> <a style="font-weight: bold;" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQN6MLbv_Ae_Gxp6C2RRQxYlf382yLp-uL_TmItAmfwF8QFHzQ-Shzkr8CyuChY7YODeLZ6F80UY06NQ1bhCegD3C8oznTMEHDsuruhLmzazYUoVH8mqoAq68o2VdpH8oxHrte/s1600-h/fueluse.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 320px; height: 203px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQN6MLbv_Ae_Gxp6C2RRQxYlf382yLp-uL_TmItAmfwF8QFHzQ-Shzkr8CyuChY7YODeLZ6F80UY06NQ1bhCegD3C8oznTMEHDsuruhLmzazYUoVH8mqoAq68o2VdpH8oxHrte/s320/fueluse.jpg" alt="" id="BLOGGER_PHOTO_ID_5319741180892225538" border="0" /></a><span style="font-weight: bold;font-size:85%;" ><br /></span><span style="font-size:85%;">(ST, 1 April 2009)</span><span style="font-weight: bold;font-size:85%;" ><br /></span><span style="font-size:85%;"><br /></span><span style="font-weight: bold;font-size:85%;" >Motorists are more conscious about fuel consumption these days</span><span style="font-size:85%;">. -</span>- ST PHOTO: SHAHRIYA YAHAYA<br /><br />MOTORISTS are more conscious about fuel consumption these days than two years ago - and more aware of how to squeeze more mileage from every litre. <p> This finding came from a survey by oil company Shell, which polled 300 motorists here in January and the same number in each of five other economies - the Netherlands, Germany, Hong Kong, the Philippines and Malaysia. </p><p> Three quarters of all respondents said they were more conscious about using fuel efficiently in the last 12 months than in 2007, when only a quarter said so. </p><p> The survey was not done last year. </p><p> Among Singapore motorists, 77 per cent said they were taking note of the number of kilometres their cars were getting out of each litre of fuel. </p><p> Two years ago, only 59 per cent did so. </p><p> The 77-per-cent figure made Singapore motorists the most aware of fuel efficiency among the drivers polled. Dutch motorists were next with 75 per cent. </p><p> Shell's Fuels Technology Manager in the Asia Pacific Eric Holthusen said he had no doubt the economy and higher fuel prices last year played a big part in motorists wanting to save on fuel. </p><p> Motorists here who were polled were also asked what they did to save fuel. </p><p> On average, they could name eight fuel-saving tactics this year, up from just 2.5 when the poll was last done in 2007.</p>--------------------------------------------------------------------------<br /><span><span style="font-weight: bold;font-size:130%;" >4) </span></span><span style="font-weight: bold;font-size:130%;" >Singaporeans rise to bait of good travel deals</span><br /><br />Fri, Mar 27, 2009 The Straits Times<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNy2lORU6F34cY8oIQy6-8qW2btOKX7CzmZqe7pHWJBpmNagk4Sne1__7S4MwJ9CLbSWmIeyJ7VFp-f2JF1zG0GaNdsXi1mj9InrkPpiVGCrXULlNG2lzN4CdMJxjDAqkVVGGR/s1600-h/natasfair2009.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 280px; height: 184px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNy2lORU6F34cY8oIQy6-8qW2btOKX7CzmZqe7pHWJBpmNagk4Sne1__7S4MwJ9CLbSWmIeyJ7VFp-f2JF1zG0GaNdsXi1mj9InrkPpiVGCrXULlNG2lzN4CdMJxjDAqkVVGGR/s400/natasfair2009.jpg" alt="" id="BLOGGER_PHOTO_ID_5319993486331729282" border="0" /></a><span style="font-weight: bold;font-size:85%;" >People visiting the travel fairs at Suntec City on Mar 22, 2009</span><br /><br />By Lim Wei Chean<br /><br />TRAVEL agents are still milking the travel market in Singapore by holding even more travel fairs.<br /><br />This is despite the recent successful run of fairs, including the granddaddy of them all for the first half of the year, namely the National Association of Travel Agents Singapore (Natas) event.<br /><br />Last Sunday, ASA Holidays booked a hall at Suntec Singapore Convention and Exhibition Centre for a travel fair.<br />Three of its rivals - CTC Holidays, Dynasty Travel and Singxpress - followed suit with booths at the Suntec City Mall. Their targeted customers: Those who have yet to book holidays.<br /><br />Travel agents said competition for the consumer dollar has become stiffer, with the recession biting. So, they are willing to stage travel fairs even after the Natas one.<br /><br />The Straits Times understands that the cost of staging a one-day fair in Suntec starts at $500,000. Smaller events like the one by CTC Holidays cost $100,000.<br /><br />CTC Holidays spokesman Alicia Seah explained: "We cannot sit still and do nothing. Our competitors are here, so it's convenient to be here, too, to catch the crowds."<br /><br />So, are Singaporeans still rising to the bait of good travel deals? It seems they are - as long as the deals are good.<br /><br />Mr William Goh, 49, who owns his own sub-contracting business, bought himself and his wife an eight-day trip to Japan and Shanghai for $2,400.<br /><br />He said: "Now that the economy is no good, I think the offers should be good."<br /><br />Mr Goh has had little time to travel in the past. But with the construction business scene quieter, he can now do so.<br /><br />Banking analyst Dennis Tan, 30, who missed the recent travel fairs, was out yesterday, sniffing out the best deal for a mid-year European tour with his wife.<br /><br />He said: "We still need to travel because Singapore is so small. It's not like in the United States, where you can travel from one state to the next for a holiday."<br /><br />The response to last Sunday's fairs was not as overwhelming as before and during the Natas event. Still, ASA spokesman Louisa Ng said she was "moderately satisfied" with the bookings the company secured. Most were for short-haul trips to China and elsewhere in Asia.<br /><br />CTC Holidays, which hoped to make about $4 million in the two-day fair, conceded that reaching this goal would be tough. The other travel agents declined to reveal sales targets or figures.<br /><br />With the news that the economy may take longer than expected to turn around, Dynasty Travel general manager Juliana Gan is worried it will hit travellers' spending power in the latter half of the year.<br /><br />For now, travel agents are keeping their sights firmly on the competition - how they are pricing their packages and when they are staging events.<br />--------------------------------------------------------------------------<br /><span><span style="font-weight: bold;font-size:130%;" >5)</span></span><span style="font-weight: bold;font-size:130%;" > HDB resale flat prices fall </span><br /><br />Thu, Apr 2, 2009 The Straits Times<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_B-c_nv5e4JPDYqqLNx6HSGWuEJXyviS6uOARnpLxK1kh9H4hXWD0PSlZpF-RvkQ_RrS4FsIYmIIjQnn7CzABzbw8kNtUQlhS5y6sMtsP6VZeA13VKm7JIQGpzMp7AUTtFDdV/s1600-h/HDBflats.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 280px; height: 225px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_B-c_nv5e4JPDYqqLNx6HSGWuEJXyviS6uOARnpLxK1kh9H4hXWD0PSlZpF-RvkQ_RrS4FsIYmIIjQnn7CzABzbw8kNtUQlhS5y6sMtsP6VZeA13VKm7JIQGpzMp7AUTtFDdV/s400/HDBflats.jpg" alt="" id="BLOGGER_PHOTO_ID_5320254809848042290" border="0" /></a> <span style="font-weight: bold;font-size:85%;" >First-quarter dip is first since 2006 and points to end of record run </span><br /><br />PRICES of HDB resale flats fell in the first quarter of this year - the first decline since 2006 and a sign that the two-year run of record-breaking gains has ended. <p> Flash estimates yesterday showed that prices dropped by 0.6 per cent for the first three months, compared with the fourth quarter of last year. </p><p> </p>Prices in the fourth quarter had increased by 1.4 per cent over the previous period and helped drive resale flat prices up by a hefty 31.2 per cent over the past two years. <p> <a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKjkhtFVwSz7F72zSVT-gdVBiFC1g5TVUzm-Br7Y955GR7dLOnFaHNAXH20idalsYZHwXbyqjgak6P0p7MhJshBlC_5BR4InzJV_T-JVFCmSN68wOfCPEzZyEGlN1TMxlG7goF/s1600-h/Data---HDB-resale-prices.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 213px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKjkhtFVwSz7F72zSVT-gdVBiFC1g5TVUzm-Br7Y955GR7dLOnFaHNAXH20idalsYZHwXbyqjgak6P0p7MhJshBlC_5BR4InzJV_T-JVFCmSN68wOfCPEzZyEGlN1TMxlG7goF/s400/Data---HDB-resale-prices.jpg" alt="" id="BLOGGER_PHOTO_ID_5320257453119735586" border="0" /></a>The latest numbers caught industry experts by surprise and underline how the worsening recession has hit the Housing Board (HDB) market sooner than expected. </p><p> Many analysts had predicted further increases in resale prices with a decline becoming apparent only later in the year. </p><p> Agency chiefs from both PropNex and ERA Asia Pacific had recently forecast that HDB resale prices could rise by a further 3 per cent to 5 per cent this year. </p><p> But yesterday's numbers have altered expectations overnight, with analysts now predicting a decline of anything from 2 per cent to 10 per cent this year. </p><p> Tell-tale signs in the market signalled that prices have started heading southwards, in tandem with private property prices, which plunged 13.8 per cent for the first quarter of this year, said Prop- Nex chief executive Mohamed Ismail. </p><p> 'The<span style="font-weight: bold;"> gloomy outlook for the past few months, coupled with more retrenchments</span>, have hit home, and even the HDB market is feeling it,' said Mr Ismail. </p><p> PropNex and ERA have reported buyer resistance to flats above $500,000, with five-room and executive flats feeling the brunt of the price slide. </p>--------------------------------------------------------------------------<br /><span style="font-weight: bold;font-size:130%;" >6) Private Property Market</span><br /><br /><span style="font-weight: bold;font-size:130%;" >Private home prices take double-digit dive</span> (ST, 2 April 2009)<br /> <br />(SINGAPORE) Private home prices plunged 13.8 per cent in the first three months of this year - a record quarterly drop as developers and other market players slashed their expectations.<p></p> <p>It was the third quarterly fall in prices - and much steeper than the 6.1 per cent drop in the preceding Q4 2008, according to advance estimates released by the Urban Redevelopment Authority (URA) yesterday. Private home prices dipped 1.8 per cent in Q3 2008 after 17 straight quarters of growth.</p> <p><script language="JavaScript" src="http://news.asiaone.com/static/ads/scripts/adsimu.js"></script>Analysts were expecting a significant drop in private home prices, but the actual fall was bigger than thought. In recent months, <span style="font-weight: bold;">developers have cut the selling prices of new homes and sellers of secondary properties have also trimmed their asking prices</span>.</p> <p>'The fall is not surprising as<span style="font-weight: bold;"> a lot of developers have reduced prices to move new units, and in the resale market, people are now asking for more reasonable prices</span>,' said DTZ's senior director Chua Chor Hoon.</p> <p>DMG & Partners Securities' analyst Brandon Lee said that <span style="font-weight: bold;">new projects and units in previously launched but unsold projects, were being launched or relaunched at 10-30 per cent discounts to the original intended selling prices</span>. Also, there were distressed sales in the secondary market. (<a href="http://news.asiaone.com/News/The%2BBusiness%2BTimes/Story/A1Story20090402-132748.html">read more</a>)<br /></p><span style="font-weight: bold;font-size:130%;" ><span style="font-size:100%;">Related: Channel U's Moneyweek Programme 财经追击 - in Mandarin - on July 2008</span></span><br /><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/EIY4ChT8c0I&hl=en&fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/EIY4ChT8c0I&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-32077748.post-92146330889560449052009-03-28T23:29:00.004+08:002009-04-29T22:19:26.863+08:00Factors that influence the demand for and supply of a product or service (10)<span style="font-weight: bold;">List of products/services:</span><br /><ol><li>polytechnic education</li><li>fast food</li><li>restaurant meal</li><li>iphone/pda phones<br /></li><li>holiday trips</li><li>foreign maid</li><li>private tuition</li><li>[a fashionable product]</li><li>[a fashionable service]</li><li>steel</li><li>spa treatment</li><li>air travel</li><li>loans from banks</li><li>soft drinks</li><li>computer games</li><li>internet services/broadband service</li><li>health supplements</li><li>oil</li><li>taxi service</li><li>LCD TVs</li><li>rice</li><li>laptop</li><li>public transport</li></ol><span style="font-weight: bold;">Common mistakes<br /></span><ul><li>APPLICATION: Failure to apply to real life - The MOST RELEVANT FACTORS need to be identified and then RANKED IN TERMS OF IMPORTANCE, e.g. Think! Is the factor of changes in interest rate, or taxes, or government policies, or weather/climate, or even technology always relevant??<br /></li></ul><ul><li>APPLICATION: Fail to show evidence of research and knowledge of context in terms of good/service; specific place, e.g. Singapore, worldwide; or time, e.g. last year, this year, recent years - Go beyond theory, do not just show theoretical possibilities, e.g. <span style="font-style: italic;">If income rises, then dd rises; however if income falls, then dd falls</span> - Instead, consider "Current recession in US leads to falling income due to rising unemployment, pay cuts. Hence purchasing power would have fallen, leading to fall in dd for normal goods such as ....., ceteris paribus." Need to ELABORATE sufficiently - do not expect examiner to READ YOUR MIND!<br /></li></ul><ul><li>ANALYSIS: Lacks elaboration and detail (as mentioned above) - e.g. NOT ENOUGH to say that "<span style="font-style: italic;">Since the price has been falling, according to law of demand, quantity demanded will rise</span>" - you need to explain WHY price could have fallen, e.g. due to rising competition, or technology etc.. ; or "<span style="font-style: italic;">Technological advancement leads to rising supply</span>" - you need to explain WHAT kind of technology is relevant for the good/service mentioned (requires some knowledge of product/service).. HOWEVER, DO NOT RAMBLE, i.e. repeat the same point again and again in different ways - WASTE of TIME!<br /></li></ul><ul><li>ANALYSIS: Lacks accuracy, i.e. showing conceptual errors or errors of theory, e.g. unable to distinguish Dd and Qty Dd, Ss and Qty Ss - usually reflect as a "X" in the feedback or for really serious errors: "??"<br /></li></ul><ul><li>ANALYSIS: Unclear writing, vague expressions - usually will be reflected as "?" or "What do you mean?", or "How so?" in the remarks/feedback given</li></ul><ul><li>ANALYSIS: Too informal - explanation does not use economics terms and expressions, e.g. "<span style="font-style: italic;">Because people have more money so they buy more</span>", instead write "<span style="font-style: italic;">With higher income, consumers have higher purchasing power hence they are able to afford...</span>"</li></ul><ul><li>STRUCTURE: Overall essay is hard to follow, for e.g. due to essay moving from demand to supply and then back to demand factors, or unimportant factors put first followed by more important factors (as mentioned earlier); or candidate repeating one demand factor repeatedly, e.g. Income rises and falls, then next paragraph talks about recession as a factor, and then another paragraph considers the impact of a change in income tax (which also affects the consumer income level!) - put all the points together!<br /></li></ul>Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-32077748.post-9884193482311560542009-02-24T12:12:00.003+08:002009-02-24T12:43:32.355+08:00Article - China risks deflationFeb 24, 2009 (ST) <a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwaeUp3JmkQF6y-w8q9GpSJ42Ld6dWHo2_dPO2CRrHqXTcMRhTZq29VD5KALe5944UubdX8iYYpp7GMOmU-0lmbo4v9IlUW6rNFs10QVUCBY6ledaXMfpaq6mfoPi1YJwA3TSi/s1600-h/china_deflation.JPG"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 400px; height: 219px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwaeUp3JmkQF6y-w8q9GpSJ42Ld6dWHo2_dPO2CRrHqXTcMRhTZq29VD5KALe5944UubdX8iYYpp7GMOmU-0lmbo4v9IlUW6rNFs10QVUCBY6ledaXMfpaq6mfoPi1YJwA3TSi/s400/china_deflation.JPG" alt="" id="BLOGGER_PHOTO_ID_5306219173036093826" border="0" /></a><br /><div class="date"><br /></div> <div class="top_headline"><br /> <!--<span class="timestamp">10 min</span>--> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0"> <tbody><tr style="font-weight: bold;"><td class="lt14"><div id="Content"><p><span id="Zoom" style="font-size:85%;">China's producer price index (PPI), a measure of inflation at the factory level, decelerated sharply to an annual rise of 2 percent in November.</span><span id="Zoom" style="font-size:85%;"> It was the slowest pace for the PPI since May 2006</span></p></div></td></tr><tr></tr> <tr> </tr> <!-- headline one : start --> <tr> </tr> <!-- headline one : end --> <!-- show image if available --> </tbody></table> <!-- START OF : div id="storytext"--> SHANGHAI - CHINA is facing deflationary risks <span style="font-weight: bold;">due to overcapacity in many industries amid a sharp downturn in demand</span>, the central bank said in a report issued late Monday. <p> 'Against the backdrop of <span style="font-weight: bold;">shrinking general demand</span>, the power to push up prices is weak and that for driving down prices is strong,' the People's Bank of China said in its report on fourth quarter 2008 monetary policy. </p><p> 'There exists a big risk of deflation,' said the report posted on the central bank's Web site. </p><p> While falling prices might seem a welcome trend, <span style="font-weight: bold;">a long spell of deflation can lead to destructive declines in wages, stocks and property prices, sapping corporate profits and prompting businesses to cut jobs and investment</span>. </p><p> China's consumer price index, which had spiked last year to 12-year high of 8.7 per cent, has eased to 1 per cent in January. </p><p> Meanwhile, <span style="font-weight: bold;">wholesale prices fell 3.3 per cent</span>, the second straight month of decline, as <span style="font-weight: bold;">costs for oil and other raw materials eased</span>. </p><p> <span style="font-weight: bold; font-style: italic;">Such a fall in wholesale prices, which measures the cost of goods as they leave the factory, can indicate an impending decline in consumer prices.</span> </p><p> The central bank's comments underscore China's challenge in balancing policy to suit fast-changing global and domestic pressures. </p><p> <span style="font-weight: bold;">Until July, it noted, the prevailing concern was with surging inflation</span>. But a sharp decline in demand for many products that began in the autumn has <span style="font-weight: bold;">left many industries with excess inventory and too much production capacity</span> - a chronic problem even before the downturn. </p><p> China's torrid <span style="font-weight: bold;">economic growth slowed to a seven-year low of 9 per cent in 2008</span>. </p><p> But the central bank also warned of <span style="font-weight: bold;">potential longer-term risks from inflation due to the worldwide effort to expand credit and increase liquidity in the global financial system</span>. -- AP</p><p>Questions</p><ol><li>From the article, what are the causes of deflation in China?</li><li>Why would the Central Bank be concerned about deflation?</li><li>Explain why credit expansion and increased liquidity globally may lead to inflation in the future<br /></li></ol>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-32077748.post-49175189988245671382009-02-23T10:20:00.008+08:002009-03-01T22:34:32.616+08:00Recommended Textbooks - 2 options<ol><li><span style="font-weight: bold;">IB Economics Course Companion: International Baccalaureate Diploma Programme (Paperback)by Ian Dorton (Author), Jocelyn Blink (Author) - S$53 (Popular Bookshop price = S$85)</span></li></ol><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnvH39er7HD127qovEFDoAWsGj-NSp-vhiBD3TfnsZgaCHiuaAIRjXi9czIxJwVjPRSaeNsXrDtDb0Aku8MR5M9FSmOuqo5y6Wkw1u4vU2PCjXesmiKpClVvU458YsAFWNcNHd/s1600-h/ian_dorton.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 320px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnvH39er7HD127qovEFDoAWsGj-NSp-vhiBD3TfnsZgaCHiuaAIRjXi9czIxJwVjPRSaeNsXrDtDb0Aku8MR5M9FSmOuqo5y6Wkw1u4vU2PCjXesmiKpClVvU458YsAFWNcNHd/s320/ian_dorton.jpg" alt="" id="BLOGGER_PHOTO_ID_5305818723406807922" border="0" /></a><a href="http://www.oup.com/us/catalog/general/subject/Economics/?view=usa&ci=9780199151240">Click for more info</a> on Ian Dorton's book<ul><li><span style="font-style: italic;font-size:85%;" >"Description: Developed in collaboration with the International Baccalaureate Organization, Oxford's Course Companions provide extra support for students taking IB Diploma Programme courses. They present a whole-course approach with a wide range of resources, and <span style="font-weight: bold;">encourage a deep understanding of each subject by making connections to wider issues and providing opportunities for critical thinking.</span> Providing clear and inviting instruction and guidance, this Companion supports students through their Economics course. It includes cross-curricular materials and activities as well as advice and guidance for the portfolio of four commentaries. <span style="font-weight: bold;">Examples, features, and case studies drawn from around the world encourage students to develop an international perspective.</span> · Includes a section of Development and International Economics · Written by experienced authors and teachers, who are both deputy chief examiners ·<span style="font-weight: bold;"> Activities and features provide opportunities for learning and discussion around core and wider issues</span> · Exam, portfolio, and Extended Essay advice is provided"</span></li></ul><span style="font-weight: bold;">2. Principles of Economics by O'Sullivan</span><span style="font-weight: bold;">, 1st Edition </span>(an adaptation of O’Sullivan, Economics, 4th Edition)<span style="font-weight: bold;"> - S$39</span><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh83v-_LiX6e0VmF86bDWLOIj3hTH2H9AyRfyXxlI8p-Xi0XUnJ7cB6E1lV4sB456re2gzg6uOlkX9RqYaZrTcAq6GL-qXOUDNFDNWTNdyVWxZThYfU3E0X4EKEOOWMXt5hwwoi/s1600-h/sullivan.JPG"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 117px; height: 150px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh83v-_LiX6e0VmF86bDWLOIj3hTH2H9AyRfyXxlI8p-Xi0XUnJ7cB6E1lV4sB456re2gzg6uOlkX9RqYaZrTcAq6GL-qXOUDNFDNWTNdyVWxZThYfU3E0X4EKEOOWMXt5hwwoi/s400/sullivan.JPG" alt="" id="BLOGGER_PHOTO_ID_5305820416465525314" border="0" /></a><div style="text-align: center;"><a href="http://www.pearsoned-asia.com/apc/apc_detail.asp?ISBN=9810679068&backlink=/apc/apc.asp?">Click for more info</a> on O'Sullivan's book</div><ul><li><span style="font-style: italic;font-size:85%;" >From the web: "For Introductory courses in economics principles, offered in Economics departments. It is the only economics principles textbook written with the local Singaporean economics student in mind. It is the only economics principles textbook that <span style="font-weight: bold;">helps students understand concepts within the context of familiar Singaporean and Asian examples</span> and vignettes. In addition, the textbook matches the topics covered in the current Cambridge-Singapore GCE A-Level Economics H1 and H2 Syllabi."</span></li></ul><div style="text-align: center;"><span style="font-weight: bold;font-size:130%;" >CHECK OUT THE BOOKS IN THE LIBRARY THIS WEEK!</span><br /></div><br />Why buy a textbook when you already have your lecture notes?<br /><ul><li>Extra examples help you to clarify on your understanding of concepts. Examples are also useful to help in your explanation when you write essays<br /></li><li>Extra exercises (short questions, data response and essay questions) allow more practice</li><li>(Possibly) a slightly different way of explaining a concept or idea, which may help in your understanding<br /></li></ul>You can try to share a book (2 to a book) if you find it a financial burden; or use the copies in the library.<br /><br />Note: $20 deposit is required for each book ordered and this is non-refundable as the supplier needs to place an order for the shipment of books from abroad. The books will arrive in about 1 month's time.<br /><br />Orders must be given by end of this week to your tutors.Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-32077748.post-14297106694634228022009-02-23T08:57:00.002+08:002009-02-23T09:01:29.189+08:00Budget 2009 - If I Were the Finance Minister GameEver wondered what it would be like to be the Finance Minister?<br />Play this newly-improved online game and explore the challenges of<br />budgeting and fiscal policy-making!<br /><br />A great way to learn how economic decisions are made at the Government level!<br /><br /><a href="http://app2.mof.gov.sg/budget_2009/fmg/index.asp">Click</a><br /><br />Related websites<br /><ul><li><a href="http://www.singaporebudget.gov.sg/">Singapore Budget 2009 Website</a><br /></li></ul>Unknownnoreply@blogger.com3