This blog has been created to provide an area for economics students to read about how economics impacts daily life. It is especially useful for students to understand the application of macroeconomics as communicated through the media and governmental websites.

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Exam Tips

1) Market Failure, Price Mechanism, Price Floor/Ceiling

2) Demand Supply, Elasticity, Oil = Inflation

3) Market Structure, Monopoly (AC,MC pricing), Price Discrimination, Compare Market Structures

4) NIA, Economic growth (remember use GDP)

**5) This section may come out BIG TIME for casestudy

Foreign Exchange, International Trade, Globalisation, TOT, Marshall Lerner Condition, J Curve, Current Account, Capital Account, BOP
Interest rates, Monetary Policy
Fiscal Policy
Keynesian - Remember that Obama's Fiscal Policy is using Keynesian

6) Macroeconomic Policies Inflation, Unemployment, BOP, EG


  • Strategise how you will get at least 40 marks
  • Diagrams (label correctly) - ADAS Diagram
  • Singapore context (Read the Blue Book)
  • Compare Monopoly to PC industry not PC firm
  • Internal and External EOS
  • Rich and Poor countries
  • Revise on the Theory of Comparative Advantage Table
  • Revise about Singapore's FTA
  • Singapore Monetary Policy
  • Definitions

For Q5 Flow chart)

Foreign Exchange
X, M
ML condition, J curve
Support the currency
One reason why SG uses ERP as MP

But remember that if ? comes out on BOP deficit, must also bring in Capital Account.