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For the first week, we were required to make a video of personal introduction to get to know our own classmate. The video helps us to know more about our classmate even though we only learn from home. I get to make new friends by watching their introduction videos. There are some students from diploma, pre university and matriculations. This week, we also learned about construction economics. From the video that we watched, construction economics is a process of applying the techniques and expertise of economics to the study of construction firms. It is important to ensure adequate use of money through out the constructions project. What I can conclude from this video is that construction economics caused pollutions to earth. In order to build new buildings, many plants and river need to be destroyed. New buildings also require annual extraction of non-renewable natural resources that will cause greenhouse gas emission, air pollution and water pollution. The ongoing carbon dioxide emission that was caused by an outdated heating ventilation lighting and cooling system from people's house was also a great example of pollution. The idea of eco village concept is a great concept in order to save the environment by using renewable energy, self managing water and waste system. The green building materials that are created by using discarded resources are also a very good way to save the earth. In conclusion, the environment can still be saved if we use more eco-friendly product. The use of renewable energy, green building materials should be normalize in every construction project. This can help to reduce pollution and non-recycled product worldwide.

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This week, we learned about macroeconomics. This day, we focus more to learn about unemployment, inflation, price indices and also international economics. The terms unemployment is something that I already knew but inflation and price indices are new to me. The topic is easy as it is something that happen in our life. This knowledge is good because after this I will know why the prices for goods keep on changing from time to time and also know why some people keep on changing their career and why they try to learn new skills.

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For this week, we learned about roles of government. We learn about types of taxes which are direct taxes and indirect taxes. Direct taxes is the tax paid by the person on whom it is levied but it cannot be passed to the other person. For indirect taxes, burden of tax can be passed to the other person. We also learned about the sources of public debt for our country. There are two government policy to control the money in our country which are monetary policy and fiscal policy. Both policies play a big role to control the currency of our money. In my opinion, the government policy is the topic that I least understand as I am still confused on how to differentiate their roles in helping our country. For this topic, I need to study harder and watch some videos in Youtube to gain more knowledge about the policies.

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This week, we learned about microeconomics. After learning this topic, I can now distinguish the differences between microeconomics and macroeconomics. I learnt that there are three types of economic system which are capitalism, socialism and mixed economy. Capitalism is an economic system where individuals sellers make economic decisions while for socialism, the economic decisions are made by the government or central authority. Mixed economy is an economic system that combine both capitalism and socialism. I also learnt about PPC and the importance of PPC to show various possible combinations of good and services within a specified time period. I can apply this knowledge if I want to start a new business and how I can try to focus and produce more goods for the customer. The topic that I have some difficulty is PPC. The shape of the PPC is a little bit confusing but I will study harder on that topic so I could distinguish the differences of the shape.

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This week, we learned about demand and supply. We learned the definition, law, internal and external determinants and the exceptional factor for demand and supply. The topic that I understand the most is the law of demand and law of supply. For law of demand, when the price of goods increased, the quantity demanded decreased because the purchasing power have decreased. For law of supply, when the price of goods increased, the quantity supplied also increased because the seller want to earn more profit. From this topic, I can know understand why the price of goods keep on changing from time to time because of our country's economic state. The topic that I have some difficulty to understand is external determinants of demand and supply in terms of substitute good and complementary goods. I have some difficulty to understand the topic but I will read more reading materials from internet about the topic.

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For this week, we learned about market equilibrium. In this topic, I learned about surplus and shortage. Surplus is when the quantity supplied is higher than the quantity demanded while shortage is when the quantity demanded is higher than the quantity supplied. The equilibrium price and quantity will change when there are some changes in demand, supply or both of it. The government have set the maximum and price of goods, taxes and subsidies to control the market equilibrium. This knowledge could be apply if I open my own business to make sure that my there will be no problem in terms of quantity of goods that have demanded or supplied. The topic that I least understand is the government intervention in market equilibrium for taxes. I watch some Youtube videos about the topic and also ask some of my friends about the topic and I started to understand the topic a little bit.

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This week, we were introduced to digital economy. From this topic, I understand that everything about economy that based on digital technologies is digital economy. It consist 12 characteristics of digital economy which are knowledge, digitisation, virtualization, molecularization, networking, disintermediation, convergence, innovation, prosumption, immediacy, globalization and discordance. These characteristics are important to create a great digital economy. This knowledge is important for me as nowadays, majority of the company have been using digital economy to promote their business and if I start my own business, I would apply this knowledge to provide a better service for my costumers. From the characteristics, I have some problem to understand the meaning or importance of that characteristic but after reading some extra sources from internet, I started to understand it a little bit.

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This week, we learned about gig economy. From this topic, I understand the meaning of the gig economy, sharing economy and platform economy. From what I understand, gig economy is someone who work for a short-term contracts and also have a flexible time to work. Monopsony power of employers usually occurs when there is an employer or company who dominate the labour market and they have the buying power over their potential employer and also have the wage-system power. This topic could be apply in my life when I want to apply a new job. It is better for me to work at a place that could offer a great amount of wages. The topic that I least understand is monopsony employer-wage analysis but after Sr Gui explain the topic in the class, I can understand it a little bit and I will watch some videos in Youtube about this topic for a better understanding.

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This is the last topic that we learned for semester 1 which is circular economy. From this topic, I understand the importance of circular economic in economy, environmental and social. Circular economy is using the waste materials to produce new product and regenerating natural system. Circular economy bring benefits to economy by creating new models or brands by using recycled materials. It bring benefit towards environmental as there will be less waste produce and lastly, it is beneficial towards society because many new activities that will be created and require new workers to decreased the unemployment. From this topic, I could apply it when I start to work for the construction industry by using recyclable materials for my new project. For this topic, the concept with high political attention is a little bit confusing to me but after asking my friends and read some extra reading material in internet, I will understand it better.