We are economics educators committed to helping young people and professionals make sense of the economics around us.
We are committed Economics Educators based in Singapore and are currently involved in preparing students to sit for the GCE A Levels Examinations as well as the International Baccalaureate. In our years of experience, we have come to love the subject we teach and have come to the common belief that young people should have a working understanding of how economic principles can be applied in daily
25/09/2017
Economies of Scale threatening local Minimarts
http://www.straitstimes.com/singapore/minimarts-face-big-challenges-as-sales-take-a-hit-this-year
Minimarts face big challenges as sales take a hit this year Times are not good for minimarts and convenience stores this year, even though the economy looks to be improving.. Read more at straitstimes.com.
External Economies of Scale explained...
https://www.facebook.com/FridayNEPAL/videos/1687395444606566/?hc_ref=ARRLFteh1oMxf0I32NPR9Oico39othl_mX5lCW1TM2imVGqETaJV7HNpARBHQmGpNQ4&pnref=story
25/08/2017
THE Inland Revenue Authority of Singapore (IRAS) collected S$47 billion in tax revenue in the fiscal year 2017, close to 5 per cent more than a year ago.
IRAS' collection accounts for 68.2 per cent of the Singapore's Government Operating Revenue (GOR). This amount accounted for 11.3 per cent of Singapore's Gross Domestic Product (GDP).
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24/08/2017
It's surprising that on the back of a recovering economy and with car sellers cutting car prices for cars that do not meet the Euro VI standards that demand for cars have come down.
What possible explanation do you have to explain this fall in COE prices?
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COEs finish lower in the second round of bidding in August 2017 COE prices ended lower across the board at the latest tender on Wednesday, as sales slowed ahead of the implementation of a new emission standard.. Read more at straitstimes.com.
24/08/2017
As brought up by Jet Ng Zhi Xian, the potential tie up between ComfortDelGro and Uber may shake up the local taxi industry.
However, early indications say that this tie up may have a limited impact!
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http://www.todayonline.com/singapore/potential-comfortdelgro-uber-alliance-have-limited-impact-rivals-experts
Potential ComfortDelGro-Uber alliance to have limited impact on rivals: Experts SINGAPORE — A potential partnership between taxi operator ComfortDelGro and ride-hailing app Uber would have limited impact on the competition, namely rival app Grab and its five taxi company partners, said transport analysts yesterday. And as the battle for market dominance heats up, most of the an...
Hello!
Welcome to Making Economic Sense (MES).
MES was started to bridge what we saw as unfortunate gaps between the theoretical study of Economics at the secondary and post secondary levels and the actual application of theory to explain the issues that are happening.
We hope to be able to provide short, concise and accurate analysis of the news of the day with an emphasis on the issues occurring in and around Singapore (at this time) and how they can be related to the study of Economics at the secondary and post secondary levels (Grades 9-10 and High School).
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Love,
The MES Team
23/08/2017
Topic 3: Smart Nation
"A Smart Nation is one where people are empowered by technology to lead meaningful and fulfilled lives.
Through harnessing the power of networks, data and info-comm technologies, we seek to improve living, create economic opportunity and build a closer community.
A Smart Nation is built not by Government, but by all of us - citizens, companies, agencies. This website chronicles some of our endeavours and future directions."
Why would Singapore want to embark on this seemingly impossible and expensive task?
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http://www.channelnewsasia.com/news/singapore/national-day-rally-national-sensor-network-to-be-used-for-9140092
National Day Rally: National sensor network to be used for everything from estate management to security SINGAPORE: When bombs went off during the Boston Marathon in April 2013, information from closed-circuit television (CCTV) cameras, social media, licence plate readers and videos and photographs from members of the public helped Boston police to identify the bombers. Combing through this data, the p...
23/08/2017
Google and Walmart are giants in their own field. The impact of this cooperation would be enormous and would have wide ranging consequences.
How would the "battle" between these firms play out?
(Is "cooperation" a way to get around anti-competition regulations?)
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https://www.nytimes.com/2017/08/23/technology/google-walmart-e-commerce-partnership.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business®ion=rank&module=package&version=highlights&contentPlacement=2&pgtype=sectionfront
Google and Walmart Partner With Eye on Amazon The companies are working together to keep pace in the race for online shoppers. They hope a transition to voice technology will help.
22/08/2017
Would you consider this a supply side policy aimed at boosting the productivity of the country?
(geddit? Productivity?)
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http://www.straitstimes.com/politics/national-day-rally-2017-more-childcare-places-and-moe-kindergartens-new-institute-for-pre
National Day Rally 2017: More childcare places and MOE kindergartens; new institute for pre-school teachers SINGAPORE - Young parents can expect more childcare places, more quality kindergartens and better-trained pre-school teachers with the setting up of a new national institute for the profession.. Read more at straitstimes.com.
21/08/2017
The great Chinese spending spree continues...
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https://www.nytimes.com/2017/08/21/business/jeep-fiat-chrysler-great-wall-china.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business®ion=stream&module=stream_unit&version=latest&contentPlacement=2&pgtype=sectionfront
Chinese Automaker Sets Its Sights on Jeep A deal would give Great Wall Motor Co. a foothold abroad and help China become a global force in the industry. But Jeep’s parent company said there had been no overtures.
21/08/2017
Threat of Contestable Markets indeed! Also a good example of how disruptive technology can be!
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https://www.nytimes.com/2017/08/20/business/media/tv-marketplace-apple-facebook-google.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business®ion=rank&module=package&version=highlights&contentPlacement=2&pgtype=sectionfront
Crowded TV Marketplace Gets Ready for Three Tech Giants The arrival of Apple, Facebook and Google means that the hypercompetitive world of scripted TV is going to become even more ferocious.
21/08/2017
Social issues impacting Economic Issues and vice versa...
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http://www.businessinsider.com/japan-fertility-crisis-2017-4/?IR=T
'This is death to the family': Japan's fertility crisis is creating economic and social woes never seen before Shrinking GDP and a falling population are poised to turn Japan into what economists call a "demographic time bomb," and other countries could be next.