JC A-Level & IB Economics Concept Videos

Sample Our Teaching: Master Concepts in Minutes

Struggling to visualize complex concepts like Market Failure or the Multiplier Effect?

You are not alone. These bite-sized Economics revision videos are designed to break down heavy theories into simple, exam-winning concepts.

Whether you are considering signing up for our JC Economics Tuition A-Level or IB Economics Tuition, these clips give you a sneak peek into the “Mental Gym” methodology used by our Principal Tutor and Ex-Policy Maker Kelvin Hong.

Note: These videos are great for quick revision, but to master the skills required to score an ‘A’ or ‘7’, you need structured practice. If you find these explanations helpful, register now to get onto the road to success.

Economics Song on The Multiplier Process

In this video, Mr Kelvin Hong breaks down Price Elasticity of Demand and Price Elasticity of Supply. Covering mathematical formulas, determinants, and graphical analysis, he explains how the responsiveness of quantity demanded and supplied is measured and compared. Kelvin’s clear explanation and practical examples make these crucial economic concepts accessible for students at all levels.

Quantity Demanded vs. Demand (Quantity Supplied vs. Supply)

This video unpacks the core economic ideas of “quantity demanded” versus “demand.” It shows how price changes result in movements along the demand curve (affecting quantity demanded), while shifts in non-price factors alter the entire demand curve (changing overall demand). With clear examples and visuals, Kelvin simplifies these key concepts for real-world application.

Labor Market Application: Why is the Wage Gap Widening in Singapore? (Part 2)

In this video, Mr Kelvin Hong continues his labor market series by analyzing why the wage gap between university and non-university graduates has widened. Using diagrams and model essay examples, he explains how globalization, shifts in demand and supply, and differences in labor supply elasticity impact wages in both skilled and unskilled markets. Ideal for exam preparation and deeper economic insights.

Market Failure Diagrams: Which Version Should You Draw?

In this video, Mr Kelvin Hong demystifies various frameworks used for market failure diagrams in JC A Level and IB Economics. He explains four different versions—ranging from the standard IB approach to a hybrid model—that incorporate externalities into traditional demand and supply curves. Kelvin also provides practical recommendations and exam tips to help students and teachers navigate these complex concepts.

Price Elasticity of Demand (PED) & Supply (PES): Definitions & Determinants

Agricultural Price Floors & Minimum Prices

In this video, Mr Kelvin Hong explains the agricultural price floor—a policy designed to stabilize and increase farmers’ incomes. Using diagrams and the example of Taiwan cabbages, he shows how a price floor creates a surplus that requires government buy-up, while discussing its limitations and unexpected benefits like promoting crop innovation.

Illustrating Economics Profits (Part 1)

In this video, Mr. Kelvin Hong demonstrates how to draw profit figures on a firm’s diagram. He explains that profit equals total revenue minus total cost and shows how the profit-maximizing condition (MC = MR) determines output and price. Using clear diagrams for various market structures (except perfect competition), he illustrates the concept of supernormal profits before moving on to subnormal profits in Part B.

Illustrating Economic Profits (Part 2)

Consumer and Producer Surplus: Definitions & Diagrams

In this video, Mr. Kelvin Hong defines consumer and producer surplus with engaging examples and diagrams. He explains that consumer surplus is the bonus consumers gain when they pay less than their maximum willingness, while producer surplus is the extra earnings producers receive above their minimum acceptable price. A practical Bangkok shopping story makes these concepts easy to remember.

Government Intervention: Quotas (Quantity Restrictions)

In this video, Mr. Kelvin Hong explains government quota policies—a type of quantity restriction aimed at reducing production or consumption. Using clear diagrams and real-world examples like car quotas and bike-sharing limits, he illustrates how quotas distort supply curves, impact market equilibrium, and lead to higher prices. He also discusses enforcement challenges and equity concerns, offering a comprehensive guide to understanding quota policies.

Asymmetric Information & Adverse Selection (Market Failure)

In this video, Mr. Kelvin Hong explains asymmetric information—a key market failure concept—with a focus on adverse selection. He uses engaging examples from second-hand car markets and healthcare insurance to show how imbalances in information between buyers and sellers lead to market inefficiencies and missing markets. Stay tuned for part two, where he explores moral hazard.

Behavioural Economics: Cognitive Biases & Nudge Theory

In this video, Mr. Kelvin Hong explores cognitive biases in A Level and IB Economics. Focusing on behavioral economics, he explains common biases like the sunk cost fallacy, loss aversion, and salience bias through real-world examples. Discover how these errors affect decision-making in consumers, firms, and governments, and learn strategies to overcome irrational thinking for more effective economic decisions.

Effects of Inflation on Balance of Trade (Part 1)

In this video, Mr. Kelvin Hong explores how domestic inflation affects Singapore’s balance of trade. He explains that as domestic prices rise, export revenue falls and imports become more competitive, leading to a worsening trade balance. Through clear analysis of price and cross-price elasticity, he clarifies the key assumptions underlying this important A-Level Economics concept.

Effects of Inflation on Balance of Trade (Part 2)

In Part 2 of his series, Mr. Kelvin Hong evaluates the effects of inflation on Singapore’s balance of trade. He questions key assumptions about the price elasticity of exports and imports, considering the unique nature of Singapore’s high-tech exports and the impact of foreign inflation. Mr. Hong offers his judgment on how these factors influence trade competitiveness in Singapore.

Theory of the Firm Economics Song: Cost Curves & Profit Maximization

In this video, Mr Kelvin Hong discusses the cost curve rules for H2 A-level and IB students. He explains where marginal cost cuts average cost, how the cost curves relate to one another and the profit-maximization rule, which states that a firm can maximize its profit by producing the quantity where marginal revenue (MR) equals marginal cost (MC).

Economics Song on Price Elasticity of Demand

In this video, Mr Kelvin Hong explains Price Elasticity of Demand. Covering mathematical formulas, determinants, and graphical analysis, he explains how the responsiveness of quantity demanded changes as the price of the product changes. Kelvin’s clear explanation and practical examples make it easier for students to understand and retain the concepts.

Economics Song on Price Elasticity of Supply

In this video, Mr Kelvin Hong breaks down the concept of Price Elasticity of Supply. By discussing mathematical formulas and determinants, he explains how the responsiveness of quantity supplied is measured and how it changes when the price of a product changes. Kelvin offers clear explanations using tunes of music to make concepts easy to remember and recall.