In a parliamentary speech by PM Lee Hsien Loong on 19th Apr 2023, he said that “countries are no longer talking about trade being win-win” and “we are heading towards…a world where protectionism is the default.” Indeed, this is also seen in the Straits Times article also on 19th Apr, “The Perils of the West Embrace of Industrial Policies.” We …

In class, I have always been citing the US as a large economy and Singapore as a small economy (both are developed economies), with population size being a key reason for the difference.  Recently, it struck me that Japan is not that highly populated, yet is the 3rd largest economy in the world. Hmmm…that prompted me to ask Chat GPT …

An excellent article from the Straits Times recently: How the $73.5 billion infant formula industry milks new parents’ anxieties, and what S’pore is doing about it Some facts gleaned from the article: In Economics, we learn about non-price competition.  There are two key ways: Through Product Innovation (typically via R&D) as well as through Marketing.   Clearly, the formula milk industry …

2 interesting Straits Times articles in the short span of 1 week. According to a survey conducted by the Organisation for Economic Cooperation and Development (OECD), around 25% of adults in the 20 countries surveyed have low levels of financial literacy, which can lead to poor financial decisions and negative financial outcomes. Please, students of economics, realise you are in …