Author archives: Edmund Quek

  • The JC2 classes on Tuesday (5pm-7pm) and Wednesday (5pm-7pm) will commence on 12 January 2021 and 13 January 2021 respectively. Students who wish to switch to a weekday class can so do simply by informing Mr Edmund Quek through email. Like the classes on weekends, students who choose to attend a weekday class can do so online or onsite. The login details will be the same as those for weekend classes. It is important to note that Mr Edmund Quek teaches in a cycle which starts on Tuesday and ends on Sunday. Therefore, students who are unable to attend their regular classes and wish to come for a makeup lesson should do so in the same week. To put it somewhat differently, a student should not attend two lessons in the same week as the same content will be taught in all the classes in the same week. Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • There will be 4 lessons in December 2020. The first two lessons in the first and second weeks will be on macroeconomics which all students are required to attend. However, the last two lessons in the third and fourth weeks will be on microeconomics revision which ONLY students who joined after the JC1 Promotional Examination are required to attend. In other words, students who joined before the JC1 Promotional Examination are required to attend 2 lessons in December and students who joined after the JC1 Promotional Examination are required to attend 4 lessons. Nonetheless, students who joined before the JC1 Promotional Examination but wish to attend the last two lessons in the third and fourth weeks which will be on microeconomics revision are allowed to do so. This is especially true for students who joined at a time which was near the JC1 Promotional Examination and hence have a relatively weak foundation in microeconomics. Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • The classes for junior college one students in 2021 will commence on 14 November 2020. There will be two classes in November and December 2020 which will be conducted from 4.15pm to 6.15pm on Saturday and from 10.45am-12.45pm on Sunday. There will be a class from 5pm to 7pm on Friday in 2021. Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • The following is the November class schedule. First Lesson On 07/11/2020, H2 students will attend the lesson at 10.45am-12.45pm or the lesson at 4.15pm-6.15pm. On 08/11/2020, H1 students will attend the lesson at 10.45am-12.45pm. Second Lesson (only for H2 students) H2 students will attend ONLY one of the lessons 14/11/2020, 10.45am12.45pm 17/11/2020, 7.15pm-9.15pm Please continue to read the essays and pick up as many concepts as you can. In the event that you encounter any problems, please do not hesitate to approach me. Note: The login link will be the same. Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • (a)Β Β  Explain why Singapore chooses to use the exchange rate rather than interest rates as the policy instrument of its monetary policy. [10] Introduction Monetary policy is a demand-side policy that is used to control the money supply and interest rates to influence aggregate demand. Monetary policy can be used to increase economic growth, decrease unemployment and reduce inflation. Aggregate demand is the total demand for the goods and services produced in the economy over a period of time and is comprised of consumption expenditure, investment expenditure, government expenditure on goods and services and net exports. To increase economic growth or decrease unemployment in an economy where interbank rates are lower than the bank rate and hence banks borrow from each other, such as the United States and Japan, the central bank can increase the money supply by conducting an open market purchase. When the money supply increases, the amount of reserves in the banking system will rise. When this happens, interbank rates will fall which will lead to a fall in the level of interest rates in the economy. For example, the Federal Reserve increased the money supply to lower the federal fun[...]
  • Due to the Preliminary Examinations, the lessons from 14/09/2020 to 20/09/2020 will be brought forward to the week from 07/09/2020 to 13/09/2020. This means that there will be two lessons in the week from 07/09/2020 to 13/09/2020 (i.e. September Break) and no lesson in the week from 14/09/2020 to 20/09/2020 (i.e. Preliminary Examinations). The lessons in other weeks will be conducted as usual. Students who attend the Tuesday Class and Wednesday Class will attend an online lesson from 9am to 11am on 08/09/2020 (Tuesday) in addition to the regular lesson in the week. Students who attend the Saturday Classes will attend an online lesson from 9am to 11am on 09/09/2020 (Wednesday) in addition to the regular lesson in the week. Students who attend the Sunday Class will attend an online lesson from 9am to 11am on 10/09/2020 (Thursday) in addition to the regular lesson in the week. Note: The login link will be the same. Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • Introduction Income inequity may lead to failure of the free market to allocate some goods and services to the people who need them more. Effective demand is the desire to buy backed by the ability to pay. Ineffective demand is merely the desire to buy not backed by the ability to pay. The free market only responds to effective demand which means that it only distributes goods and services to the people with the willingness and the ability to pay for them. However, the ability to pay for a good does not reflect the need for the good. Therefore, individuals who need some goods and services but do not have the ability to pay for them have to go without the goods and services. In the free market, the prices of goods and services are determined by the market forces of demand and supply. If the income gap is large, high income individuals with a high willingness and ability to pay may push up the prices of some goods and services to the levels which make the goods and services unaffordable to low income individuals with a low ability to pay. This is a matter of concern particularly if the goods and services are necessities. For example, education is a necessity particularly to low incom[...]
  • Introduction Substitutes are goods which are consumed in place of one another such as Coke and Pepsi. The cross elasticity of demand (XED) for a good with respect to another good is a measure of the degree of responsiveness of the demand for the first good to a change in the price of the second good, ceteris paribus. Many students think that public transport is not a close substitute for private cars for the same reason why private cars are not a close substitute for public transport. This economic misconception will be discussed in economics tuition at Economics Cafe. Exposition Private cars and public transport are substitutes as the two goods are consumed in place of one another. However, although some students argue that the two goods are close substitutes, some students argue that they are not. The truth is, whether private cars and public transport are close substitutes varies from individual to individual. However, the problem is that many of the students who argue that private cars and public transport are not close substitutes have not fully understood the relationship between the two goods. In particular, they think that public transport is not a close substitu[...]
  • As we enter Phase 2 of the circuit breaker, we have been informed by the Ministry of Education that we are now allowed to conduct physical classroom lessons. Therefore, from 30 June (Tuesday), I will be teaching at the tuition centre. Nonetheless, at least for the month of July, I hope that you will continue to attend the online lessons for your safety. This is due to the fact that there are still community cases and there is likely to be an uptick as a resulting of the opening of Phase 2. That said, you may choose to attend the physical classroom lessons if you so wish. However, you will need to inform me if you wish to attend the physical classroom lessons so that I am able to make the arrangement which is in line with the guidelines provided by the Ministry of Education. Click Here for Class Schedule Things to do when you arrive at the centre: 1) Scan the SafeEntry QR code to check in. 2) Have your temperature taken before you enter the centre. 3) Use the hand sanitizer (optional but encouraged). Note: If you arrive the centre before I do, do not cluster outside the centre unless you want to get me into trouble (^_^). Keep one metre apart from one another. Please wait at the p[...]
  • Economics Cafe is working with the Family Service Centre to donate laptops to low income families with children who attend school. In one day, the Family Service Centre has identified 14 families which need a laptop for their childrenΒ  for learning. We have contributed 7 laptops and we need additional 7 laptops to help the children from these families. It is important to note that there are many more low income families out there that need a laptop for their children for learning. If you are able and willing to contribute your used laptops, please contact us. Thank you Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • Due to upcoming Common Test 1, the lessons from 23/03/20 to 29/03/20 will be brought forward to the March holidays. Tuesday Class (5pm-7pm) Students who attend the Tuesday class will attend a 4 hour lesson from 3pm to 7pm on 17/03/20. Wednesday Class (5pm-7pm) Students who attend the Wednesday class will attend a 4 hour lesson from 3pm to 7pm on 18/03/20. Saturday Class (10.45am-12.45pm) Students who attend the Saturday Class (10.45am-12.45pm) will attend an extra lesson on Monday from 10am to 12pm on 16/03/20 in addition to their regular lesson on 21/03/20. Saturday Class (4.15pm-6.15pm) Students who attend the Saturday Class (4.15pm-6.15pm) will attend an extra lesson on Monday from 1pm to 3pm on 16/03/20 in addition to their regular lesson on 21/03/20. Sunday Class (10.45am-12.45pm) Students who attend the Sunday Class (10.45am-12.45pm) will attend an extra lesson on Thursday from 10am to 12pm on 19/03/20 in addition to their regular lesson on 22/03/20. Economics Tuition @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek
  • Introduction The demand for a good is the quantity of the good that consumers are able and willing to buy at each price over a period of time, ceteris paribus. The supply of a good is the quantity of the good that firms are able and willing to sell at each price over a period of time, ceteris paribus. In the free market, the price of a good is determined by the market forces of demand and supply. Many students think that a rise in the price of a good will lead to a fall in the demand for the complements. Mr. Edmund Quek will provide a more detailed explanation on this economic misconception in economics tuition. Exposition The price of a good may rise due to a decrease in the supply. A decrease in the supply of a good will lead to a rise in the price resulting in a decrease in the quantity demanded. When this happens, the demand for the complements will fall. The supply of a good may fall due to several reasons. For example, a rise in the cost of production of a good will lead to a decrease in the supply. When the cost of production of a good rises, firms will increase the price at each quantity to maintain profitability. In other words, they will reduce the quantity sup[...]