Sunday, July 27, 2008
hey all!
nobody's been updating ):
well i shall update then! haha.. for those ppl who have been EAGERLY awaiting for pokemon monopoly, here are the lyrics! XD i think we just cant sing well enough -.-
*******************************************************
Pokemon Monopoly
Composed by: Low Shi Hou & Chong Wei Zeng
Vocals by: Tan En Hao & Chong Wei Zeng
BGM by:
http://www.youtube.com/watch?v=Fr1hVTQkWvgI wanna be monopoly
Earning far and wide
To catch firms is my real test
To kick them is my cause
My products are quite unique
And non-substitutable
Price determination is in my hands
So I can raise the cost
Monopoly!
Gotta charge 'em all
(Its only me)
I know its my destiny
Monopoly!
Oh, you're my best friend
In a world we must contend
Monopoly!
Gotta charge 'em all
(Our patents so true)
Profits Supernormal too
You pay me and I'll charge you
Mono-po-ly!
Gotta charge 'em all! (yeah!)
Every firm- along the way
With barriers I will stop
I will battle with ease at hand
To claim my rightful place
Come with me, we have E.O.S
THERE’S- no better firm
Use predatory pri-cing
It’s always been my dream
Monopoly!
gotta charge ‘em
(P more than MC)
Allocative inefficiency
Monopoly
X-inefficiency
Form our mise-ry
Monopoly
gotta merge ‘em
(Spurn antitrust laws)
Our power will pull us through
You pay me and I’ll charge you
Mono-po-ly
(gotta charge ‘em all)(gotta charge ‘em all-all)
*******************************************************
well it doesnt end here but the back part's sounds more funny so i shan't mention it.
if one day someone gets to see the video, well.. good for you then! (:
-en hao (has 2 classes!)
Output time: 9:25 AM
Saturday, May 24, 2008
HEY! it is the holidays and i saw an article on the front-page of the World, The Straits Times
the picture showing a scissors cutting "BUDGET FLIGHTS" into half caught my attention
Rising fuel prices has been one of the most common headline in recent months. Again, the price of oil has hit a record high for the third day running( of more than US$135(S$180) a barrel this week). As fuel/oil is an essential raw material in production of products, operation of industry, cooking e.t.c., the rise in fuel prices to unprecedented high levels will inevitably affect many in the world.
From recent issues, such as countries trying to keep the prices of food as low as possible by giving up part of their producer surplus so as to ensure that their people is not denied of a balanced diet and and Singapore NTUC Fairprice coming up with food vouchers, we can see that many parts of the world are struggling with the economic instability faced.
Today's article on the budget flight is yet another impact of the economic instability:(
"The soaring cost of oil along with global economic uncertainty would force airlines to raise fares in a scramble for survival that will see many of them go bust." - British Airways cheif executive. Willie Walsh.
To prevent this from happening, firms have taken some steps.
1)huge cuts in routes and jobs ----- there will be retrenchment :(
2)passengers are charged for their first checked-in bag ----- passengers will have to pay more, firms total revenue will increase.
3)increase fares ------passengers' consumers' surpluses decrease :(
4) use "variable speed" as a fuel conservation initiative ------to decrease fuel consumption, to decrease total cost of flight
all these are aimed to mazimise profit/prevent the occurrence of economic losses which may result in the firms shutting down in the worst case scenario.
This is a list of the airlines that have done something to beat rising costs in fuel:
American Airlines
British Airways
Ryanair and EasyJet
Qantas
JetBlue Airways
Us Airways
Northwest
United Airlines
However the extent to which the steps will be carried out is variable.
this is because they have only factored in the oil price and have not factored in consumer slowdown. Price elasticity of demand which measures the consumer's sensitivity (change in quantity demanded) to prices changes needs to be further analyzed before the firms can be sure if higher airfares is feasible as a solution to curb their problem.
kelly
Output time: 9:09 AM
Friday, May 23, 2008
Hi all, I am doing a review on the article ‘Ford slams brake s on profit plan’ from the BBC news online. Here is the link, http://news.bbc.co.uk/2/hi/business/7415483.stm feel free to take a look.
In the recent years Ford has been suffering from losses due to the weakening economy in the US and the high rising oil prices. As the economy experiences slowdown, causing a drop in demand for goods produced by Ford as they are luxury goods and it has a high income elasticity of demand ( Ey>1)
The high oil price has caused an upward shift in Ford’s AC and MC curve, and due to the slowdown of US economy Ford has been earning subnormal profit for the last 2 years with a loss of more than 15 billion US dollars. Thus in order to cover the losses Ford has to cut more jobs and production and sold its luxury brands Aston Martin, Jaguar and Land Rovers to raise cash in order to reduce its total variable cost so that it can still continue production. In the meantime the market position of Ford is also being threatened. As Ford is being one of the few leading firms in the US’s car industry (Oligopoly) it used to have a relatively large market share, and now it is losing market due to intensive challenge from firms that produce more fuel-efficient cars.
Thus in order for Ford to get over the hard time there are several possible paths to take
1. It can focus more of its resources on technical economies of scale of research and development, which can focus more on its technology on fuel-efficient cars.
2. It can consider merging with its rivals to free more resources for future development.
That’s all I can think of….
Cheers
Siyuan
Output time: 11:09 PM
Thursday, May 22, 2008
+hi shaoying here again. this is an article i have found on the straits times online. yay (:
Rising rice prices spark concerns across Asia
A sharp rise in the price of rice is hitting consumer pocketbooks and raising fears of public turmoil in the many parts of Asia.
MANILA - PHILIPPINE activists warn about possible riots. Aid agencies across Asia worry how they will feed the hungry. Governments dig deeper every day to fund subsidies.
A sharp rise in the price of rice is hitting consumer pocketbooks and raising fears of public turmoil in the many parts of Asia where rice is a staple.
Part of a surge in global food costs, rice prices on world markets have jumped 50 per cent in the past two months and at least doubled since 2004. Experts blame rising fuel and fertiliser expenses as well as crops curtailed by disease, pests and climate change. There are concerns prices could rise a further 40 per cent in coming months.
The higher prices have already sparked protests in the Philippines, where a government official has asked the public to save leftover rice. In Cambodia, Prime Minister Hun Sen ordered a ban on rice exports on Wednesday to curb rising prices at home.
Vietnamese exporters and farmers are stockpiling rice in expectation of further price increases.
Ms Prestoline Suyat of the May One Labor Movement, a left-wing workers group, warned that 'hunger and poverty may eventually lead to riots'. The neediest are hit hardest.
Mr Rodolfo de Lima, a 42-year-old parking lot attendant in Manila, said 'my family will go hungry' if prices continue to rise.
'If your family misses a meal, you really don't know what you can do, but I won't do anything bad,' said Mr de Lima, whose right foot was amputated after he was shot during a 1985 gang war.
Others might not be so restrained, said Mr Domingo Casarte, 41, a street vendor.
'There are people who are hotheaded,' he said. 'When people get trapped, I can't say what they will do.'
The United States Department of Agriculture forecasts global rice stocks for 2007-08 at 72 million tonnes, the lowest since 1983-84 and about half of the peak in 2000-01.
The higher prices are stretching the budgets of aid agencies providing rice to North Korea and other countries, particularly with donations already falling.
Mr Jack Dunford, head of a consortium in Thailand helping more than 140,000 refugees from military-ruled Myanmar, said soaring rice prices and a slumping US dollar are forcing cuts in already meagre food aid.
'This rice price is just killing us,' he said. 'This is a very vulnerable group of people under threat.' China is among several countries in the region that subsidise rice prices, an increasingly expensive proposition.
Rice prices have almost doubled in Bangladesh in just a year, sparking resentment but no unrest yet. Repeated floods and a severe cyclone last year have cut production, forcing the government to increase imports.
In Vietnam, a major rice exporter, the crop has been hit by a virus called tungro and infestations of the brown planthopper insect.
Farmers there say they are not benefiting from the higher prices.
'The rice price has gone up 50 per cent over the past three months, but I'm not making any more money because I have to pay double for fertiliser, insecticides and labour costs,' said Mr Nguyen Thi Thu, 46, a farmer in Ha Tay province, just outside Hanoi.
Another farmer, Ms Cao Thi Thuy, 37, in Nam Dinh province, 120 kilometres south of Hanoi, said exporters have actually been paying less for rice over the last week.
'If the world prices are going up still, then Vietnamese rice-exporting companies are benefiting, not us,' she said. 'They tell us that now weather is better, and rice can grow more easily, so we should not expect higher prices.'
Philippine President Gloria Macapagal Arroyo, worried about anything that could spark a 'people power' revolt against her, is assuring the public that rice won't run out or skyrocket in price during the traditionally lean months of July to September.
This week, she arranged the purchase of up to 1.5 million tonnes from Vietnam. She also has ordered a crackdown on price manipulation, hoarding and profiteering on subsidised rice, and will hold a food summit April 4.
Things are so tight that Agriculture Secretary Arthur Yap has asked people not to throw away leftover rice and urged fast-food restaurants, which normally give customers a cup of rice with meals, to offer a half-cup option to cut waste.
The Philippines is facing 'a perfect storm', said Senator Mar Roxas, president of the Liberal Party. Problems coping with rising rice prices are compounded by higher oil prices and a US economic downturn, which could reduce the money sent home to families by Filipinos working in the United States. Such remittances underpin the economy.
Philippine farmers say the country, which has become the world's largest importer of rice after being an exporter in the early 1970s, has shot itself in the foot by developing some former rice paddies for housing and golf courses and planting more lucrative crops on others.
One Asian country, Japan, is encouraging cuts in rice production.
Rice prices there have been falling in recent months as people eat less rice and more bread. -- AP
Review: Due to the increase in demand for bio-fuels, many peasants have switched their crops into sugar canes in order to ear more profits. that leads to a new problem, a decrease in supply for rice. in addition, due to the rising cost in fuel and fertiliser, there is an increase in the cost of production. all these factors will result in a decrease in supply, which is illustrated by a leftward shift of the supply curve.
In addition, due to the rising population, especially in Asia, that led to an increase in demand for rice.
an increase in demand and a decrease in supply will cause the equilibrium price to rise. this changes reinforce each other, leading to a higher price. at the sam time,the increase in demand leads to a larger quantity, while decrease in supply leads to a smaller quantity. these changes do not reinforce each other, but work in opposite directions. the quantity exchanged is indeterminate.
in the past, whenever i see articles on rising food prices, i would ignore it, as it doesnt make sense to me. i am glad now i understand it yay :)
Shao Ying (22)
Output time: 8:42 PM
Olevel vs economics!
+hi everyone, shaoying here ^^ here's some comical relief to economics which i have created after receiving my crappy Olevel results. its not exactly funny and doesnt really make sense though. i will find a good article on the rising food prices and review it. meanwhile, please make do which such stupid jokes created by me ^^
Positive economics--seeks to describe and explain economic facts and events observed objectively. it may be right or wrong, but its accuracy can be tested or verified.eg: shaoying got A2 for higher chinese.
normantive economics--looks at the outcomes of economic behaviour and questions whether these are good or bad.eg: shaoying OUGHT to have score better in the Olevels.
THE MARGINALIST PRINCIPLE: if the marginal benefit exceeds the marginal cost, then people will choose to consume the goods/services.
eg: if all the 6pointers dont come and fight place with me, i may have a chance to stay in hwachong.
scarcity--the situation where the limited resources available are unable to satisfy the unlimited human wants.
eg: the number of A1s available is unable to satisfy the unlimted a1s the students want.
opportunity cost--the cost of any activity measured in terms of the next best alternative forgone.
eg: the opportunity cost of shaoying deciding to mug more on geog, maths, chem, physics is that she lost all her proficiency in languages.
the production possibility curve [PPC]--the PPC shows all the different max attainable combinations of goods and services that can be producted in an economy, when all the available resources are used fully and efficiently, at a given state of technology.
eg: the PPC shows all the diff. max attainable combinations of A1s a student can get in RV, when all the notes are mugged, at the given rate that she/he can study.
law of increasing opportunity cost--the law states that as more of a particular good is produced, larger and larger quantities of alternative good must be sacificed, ie the opportunity cost of its production increases.
eg: it can be observed that the opportunity cost of producing 1A1 is to give up 30mins of reading newspaper to improve ur language. to obtain more A1s for R5, 2hrs of newspaper reading mus be forgone. thus, it can be seen that the opportunity cost increases [ie, we will lose all our proficiency in our languages] as we want additional A1s.the opportunity cost increases becos resources in the economy are not perfectly homogeneous or equally suited in the production of all goods. there is limited time to mug; as such shaoying, as a labour resource, can onli choose to mug for either languages or the rest of the subjects. in general, the morte specialised i am in mugging, the greater rate of probabilty that i will screw up my languages.
the PPc of shaoying moves inwards--there is a decrease in ability of me to generate more A1s.
Output time: 8:25 PM
Google and Yahoo are two major firms in the internet search engine industry. They receive high viewer-ship everyday.
We have just learnt about cost theory, size of firms, monopoly which are economically relevant to the google and yahoo proposed merger.
The size of these two firms are considered large as they have large amount of equity, capital assets, number of employees, sales revenue and market share.
As these two firms are already large, the proposed merger of them brought about much controversy. A coalition made up of 16 civil rights and rural advocacy groups have voiced their distrust of the possible merger. Some felt that a mega merger(involving two large firms) will bring about disadvantages that outweighed advantages to consumers.
The proposed merger is considered a horizontal integration as Yahoo and Google are two firms producing similar services and are at the same stage of production. This proposed merger may reap more economies of scale, thus enabling them to lower their cost per unit of output when they expand their scale of production after merger.
An umbrella group of 36 civil rights organizations including the NAACP and the National Urban League sent a letter to Thomas Barnett, Assistant Attorney General of the Antitrust Division, United States Department of Justice, claiming that a deal between the two companies would give Google almost 90% of the search advertising market and strengthen its influence over internet users' access to information.
This will create a near monopoly as Google will have a very large market share. This led to consumers being worried that
-most of the content put on the internet requires Google’s permission before they can be put up.
-increased competition
-higher usage pricing
-limit business opportunity to new firms
QUOTE from Niel Ritchie, executive director of the League of Rural Voters
"We believe the government should give this agreement very careful scrutiny"
This is also what we have learnt in school, that government intervention and regulation may be brought in when a monopoly exist in a particular industry.
:Dafter studying economics, I am able to understand such articles and issues better
kelly :) yay!
Output time: 8:24 PM
Monday, May 19, 2008
Staits Times Article.
18th may 2008 page 20 (world)
Girl GangsterIt is mentioned that Australia is grappling with a new and ugly social phenomenon, which is the increased number of girl gangs, and "
the easy availability of cheap alcohol, has contributed to.. binge drinking"
Hence, by applying the economic concept of increasing the price of cheap alcohol, the demand of it will drop, as demand of alcohol is said to be price elastic as a change in price brings about a more than proportionate change in quantity demanded. Research both in Australia and overseas shows young people in particular are price sensitive and that they will potentially move to other products or slow their drinking if price increases.This can also be seen from the fact that the percentage of young girls drinking has increased from 14% to 60% ever since the price of alcohol has dropped. Hence health minister Nicola Roxon said that on increasing the price of alcohol would deter teenage girls from drinking.
Done by: Valerie Chew 08s6e
Output time: 8:21 PM
Sunday, May 11, 2008
Hey everyone, today is mother's day. I found this interesting article oh the front page of The Sunday Times, about how much mothers 'earn' by not 'earning money' by looking for a job but become housewives.
"Mum, you could be paid $23k a month"
This article is about how much HR EXPERTS estimate a stay-home mum each per month. Summarised in points:
1) Five roles that mothers perform daily, Executive housekeeper (5hr - $280), childcare teacher (5 - $193), chef (3hrs - $170), personal assistant (2hr - $90), driver (2hr - $73) are calculated to give a Mum a daily pay of around $800, and a month pay of $22,568!
2) This is according to the market rate for such jobs assuming a Mum works 17 hours a day.
3) In the United States, a full-time mum can earn up to US$117000 (S$160000) per year, with 10 jobs (from housekeeping to psychologist and chief executive)
4) With rest days and other factors, a Singapore mother can easily be worth $8481 per month.
This is an example of incurring implicit costs which do not involve a direct payment of money, but involves a sacrifice of some alternative which means an opportunity cost is incurred. In this case, a working mum
incurs an opportunity cost of $8000 if she does not become a housewife.
However, mothers' roles are very important and should not be quantified like that. Moreover, some mothers do not have the necessary skills like driving or cooking, which means it is very hard to put in a monetary value to what mothers do. Mothers also take care of emotional and physical needs of the family.
question....
Does that mean that just because housework cannot be valued in economic terms, they don't get the appreciation they deserve?
Mother's worth in terms of money?
$8000 or $23000 a month
Mother's role?
Priceless
-Zhi Yang =)
Output time: 8:57 PM
Tuesday, April 29, 2008
YouTube - Shocking Economics
I found this video quite interesting. Who would have known they are actually true? And some facts are actually quite shocking.The gap in the economic output is really
LARGE.Economic jokeshttp://www.jokes.net/I chanced upon theses jokes about economics and economists. They are quite funny. Try them=)
Reasons to StudyTOP 10 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous:"Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. You get to say "trickle down" with a straight face.
5. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
6. When you are in the unemployment line, at least you will know why you are there.
7. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
8. Although ethics teaches that virtue is its own reward, in economics we get taught that reward is its own virtue.
9. When you get drunk, you can tell everyone that you are just researching the law of diminishing marginal utility.
10. When you call 1-900-LUV-ECON and get Kandi Keynes, you will have something to talk about.
ResearchOne day a man walked into the main library of a major research university. He stopped at the reference desk and asked the librarian if she had any current books about economics and the economy.
She answered that she did, and led the man to the reference shelves where the economics and economy books were.
To the surprise of both the librarian and the man all of the books were off the shelf being used.
"That's OK," the man said. "I'll just go to another library. You see, I'm a very busy man, and I set this weekend aside for studying economics and the economy."
The librarian said she understood and gave the man directions to the nearest research library. But her interest piqued, she asked: "Why are you so urgent to study economics and the economy?"
The man replied: "I'm an economist. I've been teaching at this university for the past ten years. I'm attending a business meeting on Monday, and I figure the economy has changed in the past ten years."
Ningxin
Output time: 9:34 PM
Qns
1. Type of merger relevant in this article?
2. It is mentioned that MAS is considering mergers as the industry is struggling as it is coping with high fuel costs and softer demand. How would a merger help?
3. And the article seems to suggest that big is the way to go / in order to survive, the airlines must consolidate / merge. Another evidence to support this assertion is the inclusion of the part about 4 budget airlines collapsing. So, is being big necessary for survival?
4. But to MAS, which reason for the merger is more impt? Cost or revenue? Use data to justify.
5. What does it mean by ‘over-capacity? What has it got to do with over-crowding?
6. What is ‘code-sharing’ and how does it overcome the problem of ‘over-capacity’?
Further research:
1. Why is the airline industry facing ‘softer demand’?
Output time: 6:57 PM
Tuesday, April 22, 2008
Yo!
Could I request that you sign off with your name after each post?
Am highly impressed with the person who did the detailed write-up on instant noodles... linking it from theory of DD & SS all the way to market structures. Kudos!
Just one comment... According to the 1st article on instant noodles, China accounts for about 40 %. This in itself does not give raise to a monopoly. Indeed, realistically speaking, one can't find a true monopoly, ie. one who controls 100% of the entire market. So, after doing a bit of google-ing, the Sherman Anti-Trust Act (a US law that prohibits monopolies) stipulates that a firm having a market share > 75% indicates monopoly power. Any thing below is not.
So what is the likely market structure of the instant noodles industry then...
Keep the posts coming in!
jtengara
Output time: 9:26 PM
Sunday, April 20, 2008
yo 6E (and btw en hao here)
[i shall use mostly small letters since i dont like capping]
since my PI's on instant noodles, i decided to expand on it via econs! alright, its not because of that mainly, i discovered some interesting stuff while searching around for statistics...
notice that everything from econs (as we know it now) fits in nicely...
alright... although i dont know much about the instant noodles industry (most statistics came in the form of "business reports" which are not free), i'll try my best to link econs to this industry.
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External Links 1:
http://mobchina.blogspot.com/2008/02/china-is-largest-instant-noodle-market.htmlwhat it says:1. [instant noodles has a market estimated at US$6.6 billion in china alone]
2. [super cheap prices ranging from RMB 1 - 5 (US$0.14 - o.70)] *(note: there are some premium brands which cost more.. those that are below RMB 2 are usually the inferior versions)
3. total advertising cost spent by this industry? a whopping US$237.4m (1.7B RMB)
4. ["Despite the size of the market, China's noodle industry is dominated by one company"] does this remind u of the likes of monopoly? unfortunately, its
not a monopoly (it should be oligopoly). with such a large consumer base, its more likely the consumers can have a greater power (eg. they can choose to protest / boycott) than the firm in setting an equilibrium price.
From the website: Its Master Kong brand commands a lofty 43.3 percent (market) share. Its closest rival, Japanese joint venture Nissin Hualong, has 14.2 percent.
5. ["while branding can play a huge buying factor, whats more important is how good its when you eat it"] - consumer satisfaction dominates advertising, no questions asked.
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External Links 2:
http://www.chinadaily.com.cn/olympics/2007-07/31/content_6005255.htmwhat it says:1. ["price of instant noodles rose by ~20% or more in july 2007"]
2. ["Industries are banned by the Price Law from colluding with each other to manipulate prices"]
bet you didnt know theres such a law! yes this law exists in china as well as singapore. if the authorities spot any irregularities in pricing, they'll step in.
3. ["major instant noodle makers, [...] had met and made a collective decision to raise prices"]
also a new concept... you realise that small and medium firms cannot influence the price, but this is what happens if they co-operate and agree on their prices.
4. ["China makes 51 percent of all instant noodles in the world with more than 46 billion packets produced last year."]
half of instant noodles you see here are "made in china"
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External Links 3:
http://news.bbc.co.uk/2/hi/7004409.stmwhat it is:a less related link to econs, although it doesnt mention anything about instant noodles, it shows that price of wheat has increased (factor of production) which also caused firms to raise prices (as noted in the previous paragraph)
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i'll rewrite the econs concepts with regards to instant noodles
here goes: (note that this only applies to developed countries)
concept of elasticity:why PED of instant noodles is elastic:-assumption 1: many substitutes** (eg. rice / bread - as staple food)
why PED of instant noodles is inelastic:-assumption 1: no substitutes** (nothing is as convenient & cheap & tasty as this)
-assumption 2: habit / addiction (some people are addicted to instant noodles hmmm)
-fact 1: instant noodles are usually considered necessities
overall PED of instant noodles: likely to be price inelastic
-----
why YED of instant noodles is inelastic:-fact 1: basic good (high degree of necessity)
-fact 2: desire of good is satisfied very easily
-variable 1: poor people will buy much more instant noodles (and also for rich people perhaps during recession) but YED should remain inelastic (except for situations e.g. stockpiling)
**note: instant noodles is usually classified as an inferior good (for the average / rich) but can be listed as normal good also (for the poor)
-----
why CED of instant noodles is elastic:-fact 1: there are many firms producing instant noodles (as in price vs qty between 2 brands of instant noodles)
-----
why PES of instant noodles is elastic:-fact 1: many firms in the industry
-fact 2: short production period
-----
taxes:nothing much to mention as i dont have the statistics, but do note that in the event of natural disaster / etc, some govt may allow temporary subsidies to up production of instant noodles for disaster-relief efforts
-----
cost theoryvariable factors include:amt of flour / flavouring (MSG, sodium salts) / sachets / packaging used to store noodles
labour salary (manpower) / electricity & water bills
fixed factors include:use of the factory / outlet, the machines involved (these machines are usually highly specialised and therefore non-transferable), cost of transport vehicles (if not rented)
**again, i dont have enough statistics to prove some cost theory concepts... i'll try to go find, but no guarantees. meanwhile, do note that there are big and small firms in the instant noodles industry, and the big ones can afford to purchase expensive equipments specially tailored for them by tech-savvy firms.
-----
market structures11.4.1 characteristics of the market1. no. / size of sellers : few large sellers (for singapore, the more famous brands include nissin, maggi, super)
2. no. of buyers: high, consumers cannot influence price
3. nature of product: mostly homogeneous (buyers are indifferent, no need for advertising)
4. entry and exit: barrier to entry & exit: high setup costs involved
5. knowledge of buyers/sellers: imperfect (like who wants to buy a business report anyway?!)
6. factor of mobility: capital is highly specialised, not easily transferred
type of market structure: hmm i still think its oligopoly.
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alright... thats it for now. time to sleep, will update this soon.
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Changes Log:
*1st update: 23 april 0015hr (changed text is in bold + underline)
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-oah ne nat iivx sordnaxela lit tenrag
*ahhh i feel so sad i cant post my nick+name backwards ) :
-tan en hao (currently loves FF nine! :)
Output time: 11:26 PM
Thursday, April 10, 2008
Hey class! This is our class Econs blog! =) Be sure to check it regularly for updates and post anything related to Econs here!
Blog entries may include the following:
~Review of interesting economic articles from journals or the Internet
~Economic jokes / cartoons that illustrate certain economic concepts
~Video clips depicting certain economic concepts
~Q & A's, "forum-like" postings on views and comments that are economics-related among class members
~Any other relevant economics postings that will enhance the class's blog
Ok, so I've got something to kick(jump) start the blog =)
Visit
http://www.storyofstuff.com/ and watch the 20 mins long animation/video on the Story of Stuff.
So what is the Story of Stuff? Here's a little description taken from the site.
"What is the Story of Stuff?
From its extraction through sale, use and disposal, all the stuff in our lives affects communities at home and abroad, yet most of this is hidden from view. The Story of Stuff is a 20-minute, fast-paced, fact-filled look at the underside of our production and consumption patterns. The Story of Stuff exposes the connections between a huge number of environmental and social issues, and calls us together to create a more sustainable and just world. It'll teach you something, it'll make you laugh, and it just may change the way you look at all the stuff in your life forever."
Go on and take a look, it's really really interesting and funny!
-Si Jie
Output time: 9:44 PM
Qns