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some things that you will learn in economics are:
- price stability
- GDP
- unemployment
- income per capita
- improved global competitiveness
- inequality of wealth and income
- the breakdown of the economy

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Economics Issues and Challenges in SingaporeHow do you measure economic performance of a country?GDPMacroeconomic policy:Price stability:Low positive inflation CPI InflationNational OutputSustainable growth of GDPUnemployment Rate2% In SingaporeHigher Average Living StandardsIncreased standard of livingImproved Global Competitiveness/ Trade Balance (BoP)Some countries focus on trade moreSg being a small country, a lot of our income is from tradeSmall Domestic marketMore equitable distribution of income and wealthSingapore’s economic success:Causes:Strategic location and natural harbourWelcoming MNCsIncreased trade due to no/low natural resourcesEfficient GovernmentTimeline:1965-1978: Export Oriented Industrialisation1979-1985: Industrial reoccuringCalculation of National IncomeGDP=  C+I+G+(X-M)ConsumptionInvestmentGovernment ExpenditureNet ExportsExportsImportsWhy Trade is Important:No Natural ResourcesLarge percentage is conducted to meet domestic demandExports are backbone of Singapore economy47% of Singapore’s exports consist of reexportsHighest trade to GDP ratio in the world Sector of an economy:PrimarySecondaryTertiaryHigher education means its more competitiveGlobalisation:Size MattersPopulation of 5.5 million limits growth potential of domestic companies in SingaporeGlobalisationEnhances Singapore’s competitiveness through the sources of resourcesEmerging marketsOpportunities about in emerging markets with liberalising economies, flourishing economiesChallenges of SingaporeExternal environment has become more challengingOne belt, one road intiativeAims to connect Asia, Africa and Europe, in an attempt to increase connectivity within China 

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Economics Issues and Challenges in SingaporeHow do you measure economic performance of a country?GDPMacroeconomic policy:Price stability:Low positive inflation CPI InflationNational OutputSustainable growth of GDPUnemployment Rate2% In SingaporeHigher Average Living StandardsIncreased standard of livingImproved Global Competitiveness/ Trade Balance (BoP)Some countries focus on trade moreSg being a small country, a lot of our income is from tradeSmall Domestic marketMore equitable distribution of income and wealthSingapore’s economic success:Causes:Strategic location and natural harbourWelcoming MNCsIncreased trade due to no/low natural resourcesEfficient GovernmentTimeline:1965-1978: Export Oriented Industrialisation1979-1985: Industrial reoccuringCalculation of National IncomeGDP=  C+I+G+(X-M)ConsumptionInvestmentGovernment ExpenditureNet ExportsExportsImportsWhy Trade is Important:No Natural ResourcesLarge percentage is conducted to meet domestic demandExports are backbone of Singapore economy47% of Singapore’s exports consist of reexportsHighest trade to GDP ratio in the world Sector of an economy:PrimarySecondaryTertiaryHigher education means its more competitiveGlobalisation:Size MattersPopulation of 5.5 million limits growth potential of domestic companies in SingaporeGlobalisationEnhances Singapore’s competitiveness through the sources of resourcesEmerging marketsOpportunities about in emerging markets with liberalising economies, flourishing economiesChallenges of SingaporeExternal environment has become more challengingOne belt, one road intiativeAims to connect Asia, Africa and Europe, in an attempt to increase connectivity within China 

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one belt on road will impact singapore, as the trade can happen faster through the new trade route. this will reduce the export opportunities that singapore has.

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I have learnt that governments always have to adapt quickly to changes in order to function properly and govern a country well

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Economy broken down into 3 sectors:PrimarySecondaryTertiarySingapore has a service economyTourismTransportationBut the diversified manufacturing sector plays an important role.The percentage of diploma and degree holders in the economy has increased from 13% in 1991 to 53% in 2016.More people want to do white collar jobsMonthly household income has grown from 2006-2016.Conclusion about SG’s economySize mattersA popn of 5.5 mil limits potential growth of domestic comps in singaporeGlobalisationEnhances sg’s comp through sourcing of resources, technologies, markets globallyEmerging marketsOpportunities abound in emerging markets with liberalising economies, flourishing middle classes, and insatiable demand for infrastructureChina, Vietnam and India are emerging marketsThe external economic environment has become increasingly harsh for Singapore. Trade has been fluctuating China’s “One Belt, One Road” initiativeThe OBOR initiative Aims to connect Asia, Africa and Europe, in an attempt to increase connectivity with China, to enhance its economy.Only joined WTO in the year 2000Large proportion of chinese cities in land areas When China wants to trade, they need to go through different ports to export/trade their goods 

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Economy broken down into 3 sectors:PrimarySecondaryTertiarySingapore has a service economyTourismTransportationBut the diversified manufacturing sector plays an important role.The percentage of diploma and degree holders in the economy has increased from 13% in 1991 to 53% in 2016.More people want to do white collar jobsMonthly household income has grown from 2006-2016.Conclusion about SG’s economySize mattersA popn of 5.5 mil limits potential growth of domestic comps in singaporeGlobalisationEnhances sg’s comp through sourcing of resources, technologies, markets globallyEmerging marketsOpportunities abound in emerging markets with liberalising economies, flourishing middle classes, and insatiable demand for infrastructureChina, Vietnam and India are emerging marketsThe external economic environment has become increasingly harsh for Singapore. Trade has been fluctuating China’s “One Belt, One Road” initiativeThe OBOR initiative Aims to connect Asia, Africa and Europe, in an attempt to increase connectivity with China, to enhance its economy.Only joined WTO in the year 2000Large proportion of chinese cities in land areas When China wants to trade, they need to go through different ports to export/trade their goods 

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I have learnt how the one belt one road initiative in China could affect Singapore's trading prospects in the future as it may decrease the traffic coming through Singapore's ports, reducing singapore's profit from trading

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One belt one road is very important to learn about because it affects the future economy of Singapore and even more so the future generation (I.e. us) We have to continuously improve ourselves so as to be able to compete with other countries on a global scale.

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It helps to connect China with other countries with faster and more efficient trade

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As I am a geog student, this talk has given me an good view of what Econs is like as both of these subjects are closely related. I have a better understanding of Singapore's economic growth and hope to learn more in the near future

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As I am a geog student, this talk has given me an good view of what Econs is like as both of these subjects are closely related. I have a better understanding of Singapore's economic growth and hope to learn more in the near future

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One belt one road will improve the efficiency of trade within the countries, but it might also increase the competition for trade as well.

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The One Belt One Road initiative will benefit the rising economic powers like China, India and Thailand with more efficient and low-cost trade between those areas. However, this will deprive Singapore's port of export and import opportunities, and Singapore will lose many trade partners. Thus, Singapore will have to find alternative forms of investment to remain competitive and keep growing.

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How Singapore's economic state has grown and how much it had changed. How trade in Singapore affects the economic growth of the country:)

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How Singapore's economic state has grown and how much it had changed. How trade in Singapore affects the economic growth of the country:)

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Singapore has depended on trade for a long time, as it does not have any natural resources of its own. Singapore also depends on building bilateral ties and welcoming foreign investments to bring in wealth.

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singapore really likes its trading

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China’s “One Belt, One Road” initiativeThe OBOR initiative Aims to connect Asia, Africa and Europe, in an attempt to increase connectivity with China, to enhance its economy.Only joined WTO in the year 2000Large proportion of chinese cities ijn land areas When China wants to trade, they need to go through different ports to export/trade their goods 

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China’s “One Belt, One Road” initiativeThe OBOR initiative Aims to connect Asia, Africa and Europe, in an attempt to increase connectivity with China, to enhance its economy.Only joined WTO in the year 2000Large proportion of chinese cities ijn land areas When China wants to trade, they need to go through different ports to export/trade their goods 

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I know that the new economic road would result in a decrease in trade in Singapore as well as other countries along the maritime road. This might potentially hinder our economic future.

- Giselle

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I learnt about how important trade is to Singapore and how exports are the backbone of the economy here. I also learnt that a large % of Singapore's trade is made up of re-exports.

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I learnt about how important trade is to Singapore and how exports are the backbone of the economy here. I also learnt that a large % of Singapore's trade is made up of re-exports.

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With this initiative there will be fewer businesses trading with Singapore as traders on the route would not stop at Singapore's trading port.

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The one belt road will possibly cause lesser trade to occur through Singapore hence leading to a decrease in its economic growth via external factors.

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The fact that though Singapore is a small country, it has one of the world's most busiest ports and has one of the highest economic growth in the world. This really caught my eye because the size of Singapore, did not affect its economic trade but instead, Singapore's strategic location 

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The fact that though Singapore is a small country, it has one of the world's most busiest ports and has one of the highest economic growth in the world. This really caught my eye because the size of Singapore, did not affect its economic trade but instead, Singapore's strategic location 

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the One Belt, One Road initiative means that the traditional maritime route used may not be as frequently used as before, and since SG is quite far from the proposed route, we may lose business in our international trade through the maritime route. Thus, our economy may suffer as it heavily relies on our net imports.

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it helps traders to travel easier/faster and makes things more accessible (??) and help to speed up the process of trading

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Singapore will become irrelevant faster than we think

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Singapore will become irrelevant faster than we think

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Singapore greatly depends on trade for economy

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I know that by reopening the silk road trade route, Singapore's trade will be projected to decrease significantly, as many companies might find it more convenient to export and conduct trade using this route. They may not stop by in Singapore any more, and hence, trade levels may decrease.

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Singapore relies on other countries a lot, it is important to build good relations with other countries.

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Singapore relies on other countries a lot, it is important to build good relations with other countries.

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I know that Singapore heavily relies on exports and trade to boost its economy, as well as tourism. Overall, because Singapore is such a small country, it needs other nations to visit and contribute to its economy. Because of this, Singapore also needs to maintain a good relationship with the rest of the world. If any one of our trading partners decide to stop trading with us, it will heavily impact the country's economy.

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vaguely about how the economy affects development

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the amount of diversity in the graphs and the information

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I knew that trade played an important role in Singapore's economy

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That Singapore is a great trading station as many countries have easy access to it. 

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That Singapore is a great trading station as many countries have easy access to it. 

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Singapore requires trading to maintain its economy.

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Singapore requires trading to maintain its economy.

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Singapore will be badly affected by competition in trade with other countries (mainly China) since we will lose out to them.

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I learned how GDP consists of various components all the way from Government expenditure to Imports and Exports.

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I know that Singapore started out as third world but over the years with Lee Kuan Yew's guidance we were able to become more modern and a first world country along with our strategic geographical location which helps with the fact that Singapore is a prosperous trading port.

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Singapore's ability to increase its GDP greatly, largely due to trade, due to its strategic location.

Singapore having the greatest trade with Malaysia.

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graphs!

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the one belt one road helps people travel with greater ease, resulting in more opportunities in trade.

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the one belt one road helps people travel with greater ease, resulting in more opportunities in trade.

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I have learnt about how the government helps in sustaining the economy and the risks the economy faces in the future

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but china's faster

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that Singapore relies heavily on trade

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as a result of the one belt one road construction, there may be less trade in Singapore as the route does not cross through Singapore
this can impact Singapore's economy significantly as we rely heavily on trade to maintain our economic growth

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I know that Singapore is a small country that relies on trade to sustain its economy, especially since it has very little natural resources. I know that Singapore's economy is comprised mostly of the tertiary and secondary sector, also because it has little natural resources to harvest.

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One belt one road

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i know that singapore's economy is doing we

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i learnt about the OBOR plan

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I know that SIngapore was a third world country

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The various ways the economy affects development and a taste of what we would learn in economics

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I learnt that Singapore relies quite heavily on trade with other countries, especially since Singapore is the main trading port.

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how we calculate GDP

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that Singapore is one of the most successful in terms of economy

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C + I + G + (X -- M)

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Singapore has really good economic ties with other countries

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Singapore has really good economic ties with other countries

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Singapore relies heavily on trading

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how globalisation is important for the economy and how we need foreign trade and investments

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I learnt more about how China is competing with the rest of the world by creating One belt, One road, to increase the trades that they have which would affect the economy of Singapore

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It will cut down on the number of people (espescially Chinese) who trade in Singapore, which would hence decrease the moneh we gain

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How the One Belt One Road Initiative will affect Singapore

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The map

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The video made me realise if Singapore were to make enemies in south-east asia, we are ded.

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since Singapore is too small to have heavy industries and also have little natural resources, Singapore has to depend on foreign trade

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Singapore will need to find different ways to support the economy.

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Singapore  became an economic success because of factors such as efficient government, strategic locations and foreign trade and investments

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the different economic causes and effects

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I learnt the formula !!!! quite cool yayayay

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I learnt the formula !!!! quite cool yayayay

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The equations to calculate the GDP of a country

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What will happen to all the jobs in Singapore that are related to trade once the route is completed? Since there would be more competition from other countries with the creation of this new trade route? Will there be a rise in unemployment? Will it affect our GDP? Concerns for our future...

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What will happen to all the jobs in Singapore that are related to trade once the route is completed? Since there would be more competition from other countries with the creation of this new trade route? Will there be a rise in unemployment? Will it affect our GDP? Concerns for our future...

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There are multiple factors and components to maintain a stable economy.
- Noelle

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The dip in economic growth for the 4 Asian Tigers in 2008 (from the graph) due to the stock market crash

- Giselle

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Singapore's rapid economic growth throughout the years.
- Noelle

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The graphs

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I now know what GDP refers to

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Many factors affect Singapore's stability and even one of them being at a disadvantage could put Singapore at a risk of destabilisation.

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Singapore has developed so much through port trade

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I learnt how the various trade roads play a very important role in ensuring Singapore's economic growth as well as the strategies our country has adapted to promote economic development. I also learnt how GDP was calculated (GDP = C+I+G+(X-M) )

- Giselle

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that we have to be ever changing and adaptable to maintain and sustain Singapore's economical state.

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that we have to be ever changing and adaptable to maintain and sustain Singapore's economical state.

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If we had no port, nor located at such a convenient place for traders, we would not be as developed as we

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I know that this initiative increases competition for trade. As all these countries are taking a step to increase economic connectivity with China,  Singapore may have a weaker presence in the global economy. If we do not maintain good economic relationship with our neighbours, we may be disadvantaged in the future.

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I have learnt that there are many factors that affect a country's economy, both external and internal ones. One must really consider all these factors in order to build a good and stable economy

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I did not expect Malaysia to be Singapore's closest and most important business partner.

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I have learnt that there are many things which can affect a country's economy, such as new trade routes, that will either hinder or improve a country's economy.

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We were shown a graph showing Singapore's economic growth from 1960 to 2010. This made me wonder what is our progress as of 2018.

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The different factors which affect the economy of a country, how to measure a country's economic growth

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We know that Singapore depends heavily on trade for the country's economy.

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Economic development has emerged with the improvement of living standards of the people, with reference to employment, and the decrease of disparity between classes.

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Malaysia is Singapore's largest trader.

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I have learnt that Malaysia is the country that trades with Singapore the most. 

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I have learnt that Malaysia is the country that trades with Singapore the most. 

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singapore's government has smart tactics to maximise the trade in the world

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That the government was "small" and "honest"

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That the government was "small" and "honest"

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GDP=C+I+G+(X-M)
Singapore is using 7 strategies to advance our economy

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singapore has a lot of options to continue our economical growth, by helping china with their development

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singapore has a lot of options to continue our economical growth, by helping china with their development

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Despite our economic success, Singapore still has many challenges to overcome in order to maintain this success

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singapore's trade is doing well - the country;s income come mostly from trade.

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That Singapore is heavily reliant on trade for its economy.

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That Singapore is heavily reliant on trade for its economy.

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- Eda

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The graph of the gdp per capita growth

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Singapore needs to remain open and connected to other countries, and maintain a global mindset. We will face multiple challenges in the future, but it is important to have a looking-forward mindset to prepare for the future.