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How to Score an A in H2 Economics (Step-by-Step Guide for JC Students in Singapore)

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Want to Score an A in H2 Economics? Focus on These 3 Things To score an A in H2 Economics, you need to master three key skills: clear essay structure, strong application of concepts, and effective evaluation. It is not about memorising more content, but about learning how to answer questions the way examiners expect. […]

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Is JC Economics Tuition Necessary If School Teaching Is Enough?

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Is JC Economics Tuition Necessary If School Teaching Is Enough? One of the most common questions parents and students ask is whether Economics tuition is truly necessary when schools already provide lectures, tutorials, and revision materials. According to Dr Anthony Fok, a former MOE Economics teacher and A Level Economics examiner, the answer depends not

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Discuss whether there is a need to change the policies adopted by the Singapore government to deal with market failure in the healthcare industry.

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From the stand of the government, the policies to provide healthcare to society are i) to encourage consumption of healthcare so that the socially optimal level of consumption can be achieved. ii) Overcome the information failures linked to merit goods like healthcare and iii) on grounds of equity as the government believe that consumption should

Discuss whether there is a need to change the policies adopted by the Singapore government to deal with market failure in the healthcare industry. Read More »

Explain the market failure in the healthcare industry.

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Market failure is the failure of markets to achieve allocative efficiency. The market failure in healthcare industry is caused by several factors like the failure to take into account positive externalities (the external benefits occur when third parties benefit from the consumption/provision of the service), consumers not being the best judge of their own welfare

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“The model of monopolistic competition best explains firm behaviour and performance in Singapore”. Discuss.

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Introduction Monopolistic competition is a market structure where there are many firms selling a differentiated product and entry barriers are low. This structure gives rise to particular firm behaviour and performance. The behaviour of a firm pertains to price and output determination, manner of competition and tendency to engage in R&D. The performance of  a

“The model of monopolistic competition best explains firm behaviour and performance in Singapore”. Discuss. Read More »

Explain why it is important for a country to attain its macroeconomic goals.

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Economic growth means that national income increases. Ceteris paribus, this means that people’s purchasing power has increased. Hence, they are able to buy and enjoy more goods and services, leading to a rise in their standard of living. Economic growth means that government can collect more tax revenues to finance expenditure on infrastructure, education and

Explain why it is important for a country to attain its macroeconomic goals. Read More »

Discuss the extent to which being a small and open economy affects the policy decisions to achieve price stability and full employment in Singapore.

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Introduction Singapore has a small population of about 5 million people as well as a small geographical area of only 704 km sq. This disadvantaged her in terms of the availability of resources and size of domestic market. Due to these constraints, the Singapore economy has to be open which means that the country is

Discuss the extent to which being a small and open economy affects the policy decisions to achieve price stability and full employment in Singapore. Read More »

Discuss the extent to which protectionism can help developed nations to correct the balance of payments problems arising from the emergence of developing nations.           

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Synopsis: Students are expected to provide detailed illustration of how various protectionistic measures, such as tariff and quota, can be implemented by developed countries to correct the BOP deficit. Adequate limitations of such measures in correcting BOP deficit must be discussed, especially the issue of loss of CA by developed nations. Students are to provide

Discuss the extent to which protectionism can help developed nations to correct the balance of payments problems arising from the emergence of developing nations.            Read More »

Discuss the impact of falling domestic interest rates and rising labour productivity on the Singapore economy.

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1) Explain causes of falling interest rates and rising labour productivity briefly Falling interest rates: Since the MAS targets Singapore’s exchange rate as their primary monetary policy tool, they give up control over the interest rate. Two things affect the interest rate in Singapore which has a very open economy with a well-developed financial system:

Discuss the impact of falling domestic interest rates and rising labour productivity on the Singapore economy. Read More »