HSSRP Economics Resources by GEB HSSRP

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geb_hssrp — 2024-04-01 01:30:43 UTC

In this section, you will find 7 sections with curated resources on Economics:

Introduction to Economics
Microeconomics
Macroeconomics
Economics Research
Environmental Economics
Producer Theory
Other Topics

geb_hssrp — 2024-04-01 01:30:43 UTC

In this section you will learn about Economics as a social science discipline and its relevance in today's world.

1.1 What is Economics?

geb_hssrp — 2024-04-01 01:30:43 UTC

Is Economics about money? This short video introduces the nature of Economics as a Social Science discipline and briefly talks about the 2 main branches of Economics: Microeconomics and Macroeconomics.

For a more in-depth video of what constitutes Economics, you can refer to this video:

What is Economics?

1.2 Why Do We Study Economics?

geb_hssrp — 2024-04-01 01:30:43 UTC

This video explains the significance of studying Economics and its relevance to the world.

1.3 Microeconomics

geb_hssrp — 2024-04-01 01:30:43 UTC

This short video explains what is Microeconomics, which is the study of the behaviour of individual economic units such as households and firms, and how they make choices.

For a detailed introduction to Microeconomics, you can refer to this video: Introduction to Microeconomics

1.4 Macroeconomics

geb_hssrp — 2024-04-01 01:30:43 UTC

This brief video explains what is Macroeconomics, which is the study of the economy as a whole, such as economic growth, inflation and unemployment rates.

For a detailed introduction to Macroeconomics, you can refer to this video: Introduction to Macroeconomics

2.1 Scarcity

geb_hssrp — 2024-04-01 01:30:43 UTC

This video introduces the concept of scarcity, which is one of the most basic economic problems we face, and how we balance unlimited wants with limited resources.

2.2 Opportunity Cost

geb_hssrp — 2024-04-01 01:30:43 UTC

Every decision we make has an opportunity cost due to scarcity. This video describes the concept of opportunity cost, which is whatever that is given up (monetary and non-monetary) when we make a choice. Opportunity cost also measures the value of the next best alternative forgone when we make a decision.

2.3 Cost-Benefit Analysis

geb_hssrp — 2024-04-01 01:30:43 UTC

How do we make a choice? What are the factors that influence our decision? This video explains the cost-benefit analysis process, which is typically used for large-scale evaluation of a decision, project or policy.

2.5 Demand and Supply

geb_hssrp — 2024-04-01 01:30:43 UTC

What influences the price of goods? This video briefly introduces one of the most fundamental concepts of economics: Demand and Supply.

geb_hssrp — 2024-04-09 04:57:45 UTC

In this section, you will learn how to conduct economics research and write a research paper.

3.1 The Process of Writing an Economics Research Paper

geb_hssrp — 2024-04-09 05:01:48 UTC

What is an economics paper? This guide lists some key characteristics and basic structure of an economics research paper, namely:

Introduction
Literature Review
Data
Methodology/Model
Results
Framework

Check out the guide for more information on each step.

3.2 Choosing a Research Topic

geb_hssrp — 2024-04-09 05:12:31 UTC

There are many research areas and topics in economics, ranging from environmental economics to labour economics. However, to write an impactful and constructive economics research paper, you will need to define the scope of your topic. This guide provides some advice on how you can narrow your scope and have a more feasible research topic.

3.3 Literature Review

geb_hssrp — 2024-04-09 05:29:54 UTC

A literature review is an essential component of any research paper to demonstrate your understanding of your topic, identify knowledge gaps and inspire research. This guide explains how you can write your literature review.

3.4 How to Find Academic Materials For Your Research Paper?

geb_hssrp — 2024-04-09 05:31:39 UTC

The Singapore National Library Board (NLB) gives you access to various academic and newspaper databases. Watch this video to learn how you can access these databases and find academic materials for your research paper.

For economics research, you can also access some of the following statistical databases:

1) Singapore

2) Asia

3) Global

3.5 Econometrics and Statistical Methods

geb_hssrp — 2024-04-09 08:23:35 UTC

Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships and concepts. For a typical economics research paper, the use of econometrics and statistical analysis is crucial to quantify your data and provide reliability to your research.

This video provides a brief description of econometrics and some of the relevant concepts and statistical knowledge.

3.6 Additional Tips For Writing an Economics Research Paper

geb_hssrp — 2024-04-09 08:36:09 UTC

For more useful tips on writing an economics research paper, you can also read this article.

geb_hssrp — 2024-04-09 08:40:08 UTC

After learning about economics concepts and research, we will now dive into a sub-field of Economics: Environmental Economics.

4.1 What is Environmental Economics?

geb_hssrp — 2024-04-09 08:42:15 UTC

Environmental economics is a sub-field of economics concerned with environmental issues associated with resource exploitation, the problem of externalities and the evaluation of environmental policies through cost-benefit analysis and environmental impact assessments.

Here is another video introducing the key ideas of Environmental Economics: What is environmental economics?

geb_hssrp — 2024-04-10 05:29:18 UTC

After an introduction to the discipline, we will now dive into the first big branch of economics: Microeconomics. This section will introduce a few key concepts that guide microeconomic issues.

geb_hssrp — 2024-04-10 05:29:47 UTC

After learning about microeconomics, we will now take a look at the other branch of economics: Macroeconomics. This section will explore a few key concepts that guide macroeconomic issues.

4.2 Externalities

geb_hssrp — 2024-04-10 05:48:38 UTC

This video explains the concept of externalities, which are indirect costs or benefits incurred or received by a third party. This third party is not involved in the consumption or production of the good involved.

2.6 Elasticity

geb_hssrp — 2024-04-10 05:54:30 UTC

Why do consumers and producers react differently during a price or income change? This video describes elasticity, which is how sensitive economic agents are to changes in market conditions.

4.3 Market Failure in Environmental Economics

geb_hssrp — 2024-04-10 05:54:51 UTC

In economics, market failure is a situation when there is an inefficient allocation of goods and services in the free market. This video briefly explains market failure in environmental economics, the various environmental consequences and the factors that lead to market failure.

2.4 Marginal Analysis and Optimal Choice

geb_hssrp — 2024-04-10 08:25:27 UTC

Unlike cost-benefit analysis, marginal analysis is concerned about how much to consume or produce by comparing the marginal benefits and marginal costs. This video explains how consumers maximise their satisfaction level by consuming at their optimal choice.

2.7 Market Structure and Competition

geb_hssrp — 2024-04-12 04:46:08 UTC

Why are there so many bubble tea brands and only a few mobile network companies in Singapore? This video introduces the 4 main types of market structures in economics.

2.8 Market Failure

geb_hssrp — 2024-04-12 04:46:21 UTC

This video introduces the concept of market failure, a situation in which markets fail to provide a good or service efficiently.

geb_hssrp — 2024-04-13 17:38:41 UTC

We will now explore another branch of Economics which deals with microeconomic analysis of producer or seller behaviour. This sub-field will cover more in-depth concepts in microeconomics.

6.1 What is Producer Theory?

geb_hssrp — 2024-04-13 17:39:36 UTC

This video explains the producer theory, which focuses on the decision-making process of firms and producers.

4.4 Green Economy

geb_hssrp — 2024-04-14 05:33:34 UTC

This video introduces the concept of a green economy and why countries should adopt initiatives and work towards sustainable development.

4.5 Environmental Economics Policies

geb_hssrp — 2024-04-14 05:38:26 UTC

After an introduction to the green economy, we will now take a look at how governments and institutions solve environmental problems through various policies to promote a more sustainable economy. This video summarises Singapore's green plan, which aims to combat the challenges of climate change.

Here are some more information on environmental policies around the world:

6.2 Diminishing Returns and Production Function

geb_hssrp — 2024-04-14 17:05:29 UTC

Why do firms not hirer as many workers as possible? This video further builds on the previous video and highlights the significance of diminishing marginal returns, which is the fall in additional output as the number of inputs (eg. Labour) increases.

6.3 Costs and Cost Curves

geb_hssrp — 2024-04-14 17:10:01 UTC

A main part of the production process is taking into account the costs of production. This video introduces the various types of costs and how they are calculated.

For additional information on cost curves:

6.4 Revenue and Revenue Curves

geb_hssrp — 2024-04-14 17:25:27 UTC

Another main part of the production process is revenue. This video describes the different types of revenue and how their curves are drawn.

6.5 Profits

geb_hssrp — 2024-04-14 17:34:27 UTC

Combining both revenue and cost gives us the profits of a firm. This video introduces the profit-maximising rule, which is one of the main goals of many firms.

6.6 Price Discrimination

geb_hssrp — 2024-04-14 17:36:09 UTC

Ever wonder why do prices of goods differ for certain consumers? For example, why are movie tickets cheaper for the elderly and students? This video introduces the concept of price discrimination, which is the firm's action of selling the same good at different prices to different buyers.

3.1 Key Definitions and Measurements

geb_hssrp — 2024-04-14 17:49:15 UTC

We will first learn some of the definitions of key macroeconomic concepts and measurements such as the gross domestic product (GDP), inflation, unemployment and business cycles. This video summarises some of the key macroeconomic indicators of an economy.

3.2 The Circular Flow Model

geb_hssrp — 2024-04-14 17:51:51 UTC

Have you wondered where your money goes after you purchase something? This video introduces the circular flow model and explains products, resources, and money flow in a market economy.

3.3 Aggregate Demand and Supply

geb_hssrp — 2024-04-14 17:56:45 UTC

While microeconomics deal with demand and supply of different markets, macroeconomics is concerned about the general demand and supply of all goods and services in the entire economy. This video introduces the aggregate demand and aggregate supply curves.

3.4 Fiscal Policy

geb_hssrp — 2024-04-14 17:59:43 UTC

In this video, we will learn how the government uses taxes and spending to influence the economy.

3.6 Monetary Policy

geb_hssrp — 2024-04-14 17:59:50 UTC

After learning about fiscal policy, we will take a look at another policy tool used by many governments: Monetary Policy. This video briefly introduces how central banks around the world pursue monetary policy by influencing the interest rate.

3.5 Financial Assets and Money

geb_hssrp — 2024-04-14 18:05:11 UTC

What exactly is money? This video explains the function of money in the context of economics as well as introduces stocks and bonds.

3.7 Exchange Rate Policy

geb_hssrp — 2024-04-14 18:11:42 UTC

Lastly, exchange rate policy is also a popular economic policy tool to influence the economy. This video briefly introduces the idea of trade and exchange rates and how they can affect the economy.

7.1 Labour Economics

geb_hssrp — 2024-04-15 08:37:38 UTC

In this video, we learn about a specialised branch of economics, labour economics, which primarily focuses on the labour market and wages.

7.2 Transport Economics

geb_hssrp — 2024-04-15 08:37:48 UTC

Transport economics considers the allocation of resources in the transport sector. This video introduces economic principles and concepts in transport economics, in the Singapore context.

7.3 Health Economics

geb_hssrp — 2024-04-15 08:37:56 UTC

Health economics is concerned about issues related to the efficiency, effectiveness, value and behaviour in the production and consumption of health and healthcare. This video briefly introduces the main concepts and ideas of this sub-field.

7.4 Behavioural Economics

geb_hssrp — 2024-04-15 08:38:12 UTC

Behavioural economics is a relatively new sub-field of economics which combines psychology with economics to examine the key concept of rationality in economic units. This video introduces this branch of economics which is significantly different from classical economic topics as the assumption of rationality breaks down.

geb_hssrp — 2024-04-15 08:40:26 UTC

Economics is a broad discipline that covers a range of topics and sub-fields. Here are some additional topics you can read up on.