2019 JC2 H1 Economics: Term 2

Mass Lecture Seminar / Tutorial 2

Week Learning Objectives Seminar / Tutorial 1 (1 h) Remarks Lecturer
(Wed A, 1.5 h) (Week A: 1 h, Week B: 1.5 h)
Students should be able to: Lecture (1.5h)
Chapter 13: Market Failure &
 Understand that social-wellbeing Government intervention
1 falls when the workings of the free  Information failure (causes
Tutorial (1h) 27 Mar (Wed): Mr
25-29 market economy are imperfect & do
 Macro CSQ Test Correction
and government Tutor to decide Visit to LTA Nandwani
Mar not allocate resources efficiently. intervention)
 Understand the working of perfect  Merit & Demerit Goods
markets & how key economic  Inequality in the
decisions are made. distribution of Income
 Explain how the existence of public Seminar (1h) Tutorial (1.5h)
goods leads to market failure. Chapter 13: Market Failure & Chapter 13: Market Failure &
2  Understand that externalities are Government intervention Government intervention
1-5 Apr the (positive or negative) side  Government Failure  Sec 2, CSQ5: The Growth
effects of a market activity  Cost-Benefit Analysis of Air Travel
(production or consumption) that
affects individuals who do not
Tutorial (1h) Tutorial (1h)
directly participate in the activity. Lecture (1.5h)
3 Chapter 13: Market Failure & Chapter 13: Market Failure &
 Understand that the market  Micro CSQ Test
8-12 Government intervention Government intervention
quantity of merit (socially desirable)  Sharing on LTA Learning
Apr  Sec 2, CSQ4: Healthcare in  Sec 2, CSQ4: Healthcare in
goods or services is less than the Journey
China and India China and India
socially desirable quantity.
 Understand that the market Tutorial (1.5h) 16 Apr (Tue):
quantity of demerit (socially Chapter 13: Market Failure & Running Fri B
4
undesirable) goods or services is Tutorial (1h) Government intervention timetable
15-19
more than the socially desirable  Micro CSQ Test Feedback  Sec 2, CSQ6: Government
Apr
quantity. Subsidies: Are They 19 Apr (Fri): Good
 Use the basic tools of economic Desirable? Friday PH
analysis to show allocative
inefficiencies resulting from the Lecture (1.5h)
Tutorial (1h)
5 divergence between private & social Chapter 13: Market Failure & 27 Apr (Sat):
Chapter 13: Market Failure &
22-26 benefits or costs. Tutor to decide Government intervention
Government intervention
College Day Mr Yan
Apr  Sec 2, CSQ1: Water:
 Sec 3: Q5 & 6
Scarcity or Shortage
* Students are to come fully prepared for the identified questions
1