Economic Essays
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Weekly Essay Releases!
Will be released every Wednesday(J2 topics) /Friday(J1 Topics)!
Weekly Schedule
J1: Demand/Supply
RI 2024 Q1
(a) Explain how possible demand and supply factors might contribute to widening income inequality in Singapore. [10]
J2: Exchange Rates
TYS 2023 Q4b
Discuss whether management of the exchange rate is the most appropriate way of controlling inflation in Singapore. [15]
J1: Central Economic Problem (PPC)
TYS 2023 Q1a
The amount of goods and services that can be produced in an economy is insufficient to satisfy the wants of its population. This leads to the economic consequences of scarcity and choice.
a) Explain how a production possibility curve can be used to show the concepts of underutilisation of economic resources and opportunity cost. [10]
J2: Exchange Rate Systems (Appreciation)
SAJC 2022 Q5
(a) Explain why Singapore chooses to tighten its monetary poicy by appreciating its currency rather than by raising interest rates. [10]
Actual and Potential Growth
H2 TYS 2014
4a) Explain the key determinants of actual and potential economic growth. [10]
Market Structure
TYS 2023
3a) Explain why a firm considers the level of competition in the industry when making decisions about the price and output level of its product. [10]
Market Structure
HCI 2024 Prelims
A cup of coffee can be priced as low as $1 in a neighbourhood coffee stall or as much as $6 in a café like Starbucks. The growing demand for specialty coffee has prompted new cafés to enter the already crowded market despite rising labour costs.
a) Explain which market structure best fits the market for coffee in Singapore, and why a café charges higher price for coffee than a neighbourhood coffee stall. [10]
Demand, Supply and Elasticities
TYS 2023 Q2
Bad weather and falls in consumer incomes can have different impacts on the prices of agricultural products such as vegetables, rice, and grain.
a) Explain the different impacts on the prices of vegetables due to bad weather and falls in consumer incomes. [10]
Monetary Policy
The Monetary Authority of Singapore (MAS) has a unique monetary policy framework that focuses on managing the exchange rate rather than interest rates. This approach has implications for the country's macroeconomic objectives.
(a) Explain why Singapore chooses exchange rates rather than interest rates as its main tool of monetary policy.
Fiscal Policy
TYS 2023 6a)
Explain why expansionary fiscal policy designed to achieve economic growth or lower unemployment may lead to undesirable consequences. [10]
Supply Side Policy
TYS 2023
6b) Discuss whether expansionary supply-side policies would be effective in achieving the macroeconomic policy aims of an economy. [15]
Sustainable Growth
H2 TYS 2023
1 (b) Discuss whether it is possible to increase the total production of goods and services in an economy without resulting in environmental damage or other unintended consequences. [15]
Types of Inflation
VJC 2024 prelims Q5
In early 2022, Sri Lankans started experiencing power cuts and shortages of basics such as fuel. The rate of inflation rose to 50 per cent while unemployment rate remains high. Currently, Sri Lanka owes about $7 billion to China and around $1 billion to India.
a) Explain two possible causes of inflation.
Circular Flow Of Income
a) Using the circular flow of income model, explain how investments lead to a multiplied increase in national income.