SIM UOL August 2012 Intake

[czykent91]

Haha, 90% passing rate thanks to cigarettes.

Lol! Thanks to 中南海 summore

 

[Marbok_Tan]

Anyone is able to download the solutions to the homework Dr Zhang go through during the econs lecture today? I can't download

 

[Deadpool.]

Anyone is able to download the solutions to the homework Dr Zhang go through during the econs lecture today? I can't download

I think there was a problem in uploading the file, it states 404 file not found.

 

[ff8squall]

I think there was a problem in uploading the file, it states 404 file not found.

Weird, I am able to open the file just fine. Browser issues?

 

[trueeyesonme]

Hi guys,
anybody know where in SIM can we get our lectures notes bind together?

 

[TakoBall]

Hi guys,
anybody know where in SIM can we get our lectures notes bind together?

Photocopy room, beside the library

 

[xFBUUx]

I think there was a problem in uploading the file, it states 404 file not found.

i can't open the file too. wonder whats wrong.

 

[fruityflash]

Hmmm, this is really tricky. So sorry ah, can't help u as i paid online by debit card ah. Maybe u wanna ask the sch and bank?? Ask them to confirm.

Yea, called the school, they told me Just write at the back. Uol accept the writing at the back because all demand draft from bank is cannot write anything one

 

[fruityflash]

Hmm..y not u ask your friends whether can help u pay online first..then u bank transfer the money to your friend..like that..u also can get the subject guides earlier bah..

Problem is I had a study loan. Hah. And I got no money to pay back. Unlike you people who are rich. I had to work while studying to pay my bank loan

 

[chiwawa23]

Yea, called the school, they told me Just write at the back. Uol accept the writing at the back because all demand draft from bank is cannot write anything one

Oh ok, that's good ah. Quickly do it so that u can get your study materials soon.

 

[chiwawa23]

Problem is I had a study loan. Hah. And I got no money to pay back. Unlike you people who are rich. I had to work while studying to pay my bank loan

Study loan need pay back interest ah. No lar, not rich lah. Just that dun wanna take loan is because next time have to pay back loan and interest as well.

 

[chiwawa23]

Can anyone help with tut qns 1?? Got stuck. Drawn out the graphs for both economies 1 & 2. Both economies 1 & 2 got 20 units of x. But their units of y differ, economy 1 has 80 units of y and economy 2 has 40 units of y. So is there trade?? Cos for x both economies no need to trade as both are at sufficient and Autarky. But then for y is it trade 20 units?? If so, is it that there are no price exist which economy 1 will gain from trading with economy 2??

 

[Deadpool.]

Problem is I had a study loan. Hah. And I got no money to pay back. Unlike you people who are rich. I had to work while studying to pay my bank loan

I would love to say that I'm rich, but I'm not...

It's just that getting a bank loan isn't feasible due to the interest incurred. Don't wanna have to spend a good chunk of time post-graduation just repaying the bank loan.

 

[Deadpool.]

Can anyone help with tut qns 1?? Got stuck. Drawn out the graphs for both economies 1 & 2. Both economies 1 & 2 got 20 units of x. But their units of y differ, economy 1 has 80 units of y and economy 2 has 40 units of y. So is there trade?? Cos for x both economies no need to trade as both are at sufficient and Autarky. But then for y is it trade 20 units?? If so, is it that there are no price exist which economy 1 will gain from trading with economy 2??

I haven't read the qn, but Economy 2 has a lower opp cost for x right? Hence Economy 2 should specialize in producing x, whereas Economy 1 should specialize in producing y. Did the qn state whether the end products would be divided equally between both economies?

 

[chiwawa23]

I haven't read the qn, but Economy 2 has a lower opp cost for x right? Hence Economy 2 should specialize in producing x, whereas Economy 1 should specialize in producing y. Did the qn state whether the end products would be divided equally between both economies?

I think it didn't state ah. It just ask whether there exists no price for which economy 1 will gain by trading with economy 2. True or false?? Explain.

 

[fruityflash]

I would love to say that I'm rich, but I'm not...

It's just that getting a bank loan isn't feasible due to the interest incurred. Don't wanna have to spend a good chunk of time post-graduation just repaying the bank loan.

True, but at least your parents are paying for you. My parents not coming out a single cent.

 

[ff8squall]

Problem is I had a study loan. Hah. And I got no money to pay back. Unlike you people who are rich. I had to work while studying to pay my bank loan

So you are working part time while studying for a full time programme?

 

[Deadpool.]

True, but at least your parents are paying for you. My parents not coming out a single cent.

Lol I'm paying out of my savings.

working part-time on alternate weekends too.

 

[czykent91]

Can anyone help with tut qns 1?? Got stuck. Drawn out the graphs for both economies 1 & 2. Both economies 1 & 2 got 20 units of x. But their units of y differ, economy 1 has 80 units of y and economy 2 has 40 units of y. So is there trade?? Cos for x both economies no need to trade as both are at sufficient and Autarky. But then for y is it trade 20 units?? If so, is it that there are no price exist which economy 1 will gain from trading with economy 2??

Of Coz there's trade...
Econo1 have to sacri 4units of Y to make 1 X, while Econo2 only have to sacri 2units of Y to make 1 X.
Thus, Econo1 only have to sacri 1/4 units of X to make 1 Y, while Econo2 needs to sacri 1/2 units of X to make 1 Y.

We can conclude that:
Econo 1 have comparative advantage over Econo2 in producing Y.
Econo 2 have comparative advantage over Econo1 in producing X.

Thus so, Econo 1 should concentrate on producing Y and Econo 2 should concentrate on producing X.

So, to facilitate trade and exchange:
The price of a good must be less than the buyer's OC, but greater than the OC to the seller.

Buyer here would be Econo 1 whose OC would be 4 units of Y per unit of X.
Seller here would be Econo 2 whose OC would be 2 units of Y per unit of X.

EDIT: For Autarky(Self Sufficiency), it means that the economies are producing and consuming in a productively efficient manner; they produces at their respective PPF and holds and appropriate level of both goods.
(E.g Econo1 is producing and consuming at 10X and 40Y before trading and specialisation.)

Hope this helps

 

[chiwawa23]

Of Coz there's trade...
Econo1 have to sacri 4units of Y to make 1 X, while Econo2 only have to sacri 2units of Y to make 1 X.
Thus, Econo1 only have to sacri 1/4 units of X to make 1 Y, while Econo2 needs to sacri 1/2 units of X to make 1 Y.

We can conclude that:
Econo 1 have comparative advantage over Econo2 in producing Y.
Econo 2 have comparative advantage over Econo1 in producing X.

Thus so, Econo 1 should concentrate on producing Y and Econo 2 should concentrate on producing X.

So, to facilitate trade and exchange:
The price of a good must be less than the buyer's OC, but greater than the OC to the seller.

Buyer here would be Econo 1 whose OC would be 4 units of Y per unit of X.
Seller here would be Econo 2 whose OC would be 2 units of Y per unit of X.

EDIT: For Autarky(Self Sufficiency), it means that the economies are producing and consuming in a productively efficient manner; they produces at their respective PPF and holds and appropriate level of both goods.
(E.g Econo1 is producing and consuming at 10X and 40Y before trading and specialisation.)

Hope this helps

Hey, thanks a lot for the assistance and help rendered. Now i understand. So meaning we no need to find the exact price right as the qns never state that both economies need to produce equal amounts of both x and y?? We just need to determine who is the seller and who is the buyer right?? So your this explanation is considered enough le right??