Tpjc nsc 2007 Tackling Case Studies Lecture By Miss Ng Swee Chu 2007.

tpjc nsc 2007

Tackling Case StudiesTackling Case StudiesTackling Case StudiesTackling Case StudiesLecture By Lecture By

Miss Ng Swee Chu 2007Miss Ng Swee Chu 2007

tpjc nsc 2007

Before the lecture• Please ensure that you have a

copy 2006 SAJC Case Study- Asian Workers Missing Out on Stellar Growth

tpjc nsc 2007

Steven Covey's book, Seven Habits of Highly Effective People• 2nd Habit- Begin

With The End In Mind

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H2 ‘A’ Level Assessment

Paper 1: Case Study Questions

2 sets (40% of exams)

Each set 30 marks

Total time: 2 hrs 15 minutes

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H2 ‘A’ Level Assessment

Paper 2: Essay Questions (60%)

Divided into section A & section B

Answer 3 out of 6 essay questions (each qn 25 marks)

At least from 1 qn from each section.

Total time: 2 hrs 15 minutes

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Assessment Objectives of H2 Economics

Candidates are expected to:• Understand and interpret

economic information presented in textual, numerical & graphical form

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• Select and apply economic concepts and principles to explain and analyze contemporary events at the micro and macro levels

• Recognize unstated assumptions

• Make interpretation and valid inferences from information presented and evaluate the reliability of information given

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• Evaluate alternative theoretical explanations and perspectives of economic problems, issues and policy decisions

•Organize and commmunicate economic ideas and arguments in a clear, logical and appropriate form.

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What is Case-Study?

2-3 page write-up on a multi-faceted economic issue or policy decision including a set of data.

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Skills for tackling case studies

• Get an overview of the case study:

- No of extracts - No of tables/Charts? - Diagrams/ pictures

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Skills for tackling case studies

• Extracts: -Note the title, source (reliability)

& year• Tables/Diagrams/Pictures

- Note the title, source (reliability) & time period (correspond with extract?)

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Skills for tackling case studies

• Read thru the case study• What is the gist of the first extract• What is the gist of the second

extract?• Try summarizing in one sentence

the gist of each extract.

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Skills for tackling case studies

• Read through all the questions before tackling the first question

• Try seeing linkages between qns• Answers to qns should not contain

too much overlaps

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Skills for tackling case studies

• Answers will often require reconciliation between economic theory & data/evidence from the case

• For qns 6 marks and above, answer in paragraphs

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DATA

•Graphs

•Tables

•Charts

•Index nos

Written proses!

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Data Data can be presented in various ways

1) Written proses

Last year economies in the Asia and Pacific expanded 6.2 per cent but employment in the region grew only 1.4 per cent, it said. China a key growth engine in Asia grew 59 per cent during the 2000-2004 period during which available jobs increased just five percent, it noted.

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Data

2) Graphs

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Data3. Tables

Singapore’s motor vehicle population

Source: Land Transport Authority, Singapore

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Data

3 Charts

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Data

4. Bar charts

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Tackling 2006 SAJC CS• 2 extracts, 1 table

• Source of extracts: Channel News Asia & Straits Times (Reliability?)

• Source of table: Ministry of Trade & Industry (Reliability?)

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Tackling 2006 SAJC CS• Date of extract 1• Date of extract 2:• Date of table:

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Tackling 2006 SAJC CS• Gist of extract 1:

• Employment opportunities and wages of Asian workers growing much slower in proportion to the economic growth of the region.

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Tackling 2006 SAJC CS• Gist of extract 2:

• How has NTUC working with multinationals to reshape their wage systems brought their operating costs down and stopped them from relocating overseas & subsequently prevented the loss of jobs for Singaporeans.

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Ai) Explain the relationship between economic growth and unemployment.

(4)

• There is a negative/inverse relationship between economic growth and unemployment.

• Use AD/AS or Y-AE framework to illustrate how economic growth will lead to a fall in unemployment

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With reference to Extract 1, account for the slow growth in employment despite strong economic growth in Asia. (6m)

• Give evidence of the phenomenon (slow growth in employment despite strong EG) in the qn from Extract 1

•Explain that economic growth (increases in output) could be due to productivity increases and not increase in factors of production employed

•

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With reference to Extract 1, account for the slow growth in employment despite strong economic growth in Asia. (6m)

• Reference to last para of Extract 1: In China, labour output per manufacturing worker jumped 170 percent during the 1990-1999 period

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Bi) Explain what is meant by wage restructuring. (4m)

• Reformation of the wage system

• Implementing a monthly variable component

•Linking a greater portion of wages to performance and profits

Moving away from a seniority based wage system and cutting wages where necessary

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Bii) Referring to Table 1, discuss the implications of productivity growth lagging behind wage growth in Singapore (6m )

Implications mean:=>

•Effects on the economy and its people

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Bii) Referring to Table 1, discuss the implications of productivity growth lagging behind wage growth in Singapore (6m )

•Identify that productivity growth lag behind wage growth in 2005

•Theoretically, when productivity lag behind wage growth => COP increases => lose of export competitiveness => relocation of firms => slower EG & loss of jobs

• Shld result in higher unN & higher inflation rate

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From the case, in 2005 economic growth slowed from 8.7% in 2004 to 6.4% in 2005 ( fact support theory)

• But inflation rate & unN rate fell.

• Wages are only 1 contributing factor to price levels. There could have been a fall in price of inputs due to a stronger exchange rate.

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•Labour market has been tight in the previous year due to the strong economic growth in 2004 => firms have stepped up hiring workers to meet the increased demand => fall in unN

• With the increased no. of workers hired => output per worker tends to fall => fall in productivity

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Based on Extracts 1 & 2, recommend policies for Asian governments that will help Asian workers benefit from their respective country’s economic growth. (10m)

• Identify problems as evident from the extract:

•Slow wage growth compared to productivity increase that leads to strong growth in Asian Countries.

•Jobless growth

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• Possible Policies include:

•1) Adopting and implementing a flexi wage system => Variable component built into wages ensure that wages follow the business cycle

• Useful becos it allows firms to cut wages in times of recession or reward workers when businesses pick up.

• Evaluation: Jobs can be saved in times of recession. But firms might still be slow to reward workers in times of boom

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•2) Supply sides policies like retraining workers for the new jobs & redesigning jobs so that they yield better salaries

• Evaluation 1: Who to pay for the retraining? Govt? Firms? Workers?

• Evaluation 2: Effectiveness of retraining? Attitude & Aptitude of workers?

• Evaluation 3: Willingness of firms to redesign jobs

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•3) Minimum Wage

Evaluation: Would probably result in greater unemployment though it will raise the wages of those employed.

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4) Set up trade unions (TUs) or empower existing trade unions to negotiate with the employers, better terms of employment for workers

• Evaluation 1: Trade Unions may pursue their own interests rather than that of workers

• Evaluation 2: If TUs go to the extreme of fighting for their workers, go on a strike => all parties including workers and employers suffer instead.

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• For 10m, 3 policies well evaluated/justified will suffice