Someone who wants to remain anonymous sent me this labour of love, which should be familiar to some RJ alumni. This person is very endearing and his/her lessons were always very memorable... Needless to say, names have been removed to protect the innocent:

jc1revision5thjune[1].doc


market failure:
goodness gracious me!
when the government wants to do a cost benefit analysis it must know which are private and external costs and benefits, HELLO hello.

Do you understand or not? And then for the other on - eh *** you got it wrong i worked out the answer for you if they give you 2 variables; if they give you mpc and mpm then you still have foreign trade mulitiplier. GO AND READ the notes. i prepared you very well.

YOU BETTER do your work or else I will send you to see the vp. Wah he's very fierce, you think he's very young but wah. i saw him scold ****** (*** ***) so don't play a fool with the big guns here.

If you play the fool - and i know that maths teachers are taking up a lot of your time. I think there is an inefficient allocation of resources like market failure in economics - you are spending too little time on your econs!

Ok question 49, remember the one i did for you change in consumption must be mpc x change in disposable income must cut taxes by a larger amount because indirect measures will save some of the additional income. These are very important concepts which i have explained very very clearly. You must know how to calculate inflation rate... see DRQ/case study in CT 1. you definitely must know this. and if there is inflation, the general price level is rising. the cost of living goes up. even though your inflation rate goes down. Still an increase in the price level. cost of living is living expenses.

(*****: Mrs *** do we need to study the multiplier?)
Of course multiplier need to know if you don't know you die flat ok... money banking prices in - you know the production poossibiltiy slope is the same no international trade. Determination of exchange rate. demand for a countries currencies is a derived demand. Singapore off the Sars list, tourism increases, demand S$ thus appreciation of sing dollar.

Know what is meant by visible and invisible trade. Know measures to correct deficits. you see ah when you devalue your currency and in this case your goods are cheaper. therefore demand must be elastic. Supply must also be elastic. Need excess capacity to meet the increased demand. if don't have, then the price rises again and nullifies the effects of inflation. AND i will reccommend you strongly to do current papers. you can do it ok.

so are there any questions to ask me? let me ask you a question, how many of you have done your mcq until BOP? you CHAM ah. you better do for your a level exams. Don't play the fool ok... mcq is VERY important. Also ah, please relate your case studies to the given preamble. If you give bikini clad answers you will get bikini clad marks. i'm telling you... you go and write all the learn by heart lecture notes cannot pass you you understand or not? you understand or not? and you got to read carefully. I believe you will do well. Henry you have any quesitons to ask me?

(*****: Ya, you know the national income, what is the value added approach?)
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The markets becoming bullish because the sars virus is being killed by the heat but it will come again in autumn. and if it really comes it will wipe away a lot of people to death.

The capital gains is the gains you receive from the sale of all this. its not included right... i just set to test your understanding... you understand or not... that's why you must be very careful. it will be applied to government departments. definitely... pls ah... government expenditure for national income... the G ah, the G ah, it excludes transfer payments don't anyhow write ah... pls ah... pls be very careful. i expct you to learn very well mr ******'s topic. if you spot ah... you are going to be in big hot soup.

*** ah... i will tie your hands if you don't stop... DING DING... are you scared or not? I think econs you should not be scared... you should be scared of your further maths... they always want to kill you know... me ah, i don't want to kill you, but some people... they just want to CHALLENGE you (referring to mr ******)... to death, no... to the highest of the mountain. You will see stars... and when stars come out of your head ah... you cannot think. Those questions i set... can come out one ah... those questions that we do ah... these are the questions that are likely to come out in the A LEVEL exams.
That's why that time i ask **** **** **** ah,... why you set this question they never lecture that question you know... how can you set a question like this and never inform us...at least you are smart and never do. but there are still some weirdos who go and try... Really weirdos. NEVER try a question that is not to your advantage.

this ** *****... pls ah... don't do things that require too many things inside. that's why i teach you ah... i will only do questions that don't require too much concepts. you're playing TOTO with the teachers if you want to try... you shouldn't play toto.

(***: Mrs ***, what is toto?)
you don't know toto? Aiyah gambling lah... the five numbers, six numbers.... that time i bought you know... the other time i bought i won one thousand dollars. that time i bought ah i went to Bulgaria. i'm very lucky. then i transited at... aiyah dunno where lah... then that place ah the number came out first prize. i bought one dress 480 dollars. the number came out. don't know why i so lucky i can touch. so all these things i bought free. my diamond brooch free. my dress also free. i issue that check to that company, wed or thursday... on Saturday my number came out exactly. Wah that stupid number first prize. my husband ask me why i so STUPID. even when i was young my savings box ah...my sister in law touch ah that number... then she win. the house i buy... true indeed, when i step in ah, came out second prize. sometimes i avail myself of the opportunity, but other times i just cannot lah.

The fortune teller sees my face and told me (Me: Mrs ***, why did you see a fortune teller?) Oh, I never go and see her. You see, because the manager that time I was working not here lah, we go out for lunch then I met her. When she sees my face she says january and may i will strike 4D. just happens this manager of IT, he very pantang, he always ask her. She says his office cannot have pillar, so there's no load on his head. i don't believe in all this ah. She says I'm very lucky. i don't believe in all this... but its still happening to me. i have this luck to touch all this kind of money. only i can touch this kind of money. if other people buy my number, cannot come out.

When i first came as HOD in rjc, first year suay ah never come out that handphones question. second year came out exactly. tell you ah, i can't believe it my tutorial question came out. 1999 also, that's why ******'s brother that year all very happy. i think the ah-curls (UCLES) examiners saw my question. You know why, because my friend she works in ministry, she came to my house and then she said, this question **** *****, very good ah, how come you can set this kind of question so good ah?? then i say i give you one copy, its ok. Then you see, that year, came out that question. (triumphant grin)

(***: Mrs *** they copied your question.)
No. UCLES examiners they cannot copy exactly, how can they copy? they MODIFY. only my students damn lucky ah, they all do damn well. the prelim questions came out. three questions out of four came out exactly in the A levels exams like in my dreams.

(***: what are your dreams like this year, Mrs ***?)
(cackles happily). Aiyah i don't know about this year yet. i never pray hard enough, never dream. aiyar. the ri people go and tell the teachers, there is one HOD in the school very good at spotting question. then the academic head come back and tell me, i very sheepish cos i know they are referring to me. this last year.. the question very tough. they are going to set the same. same question but they are going to rephrase it with a very long preamble. even case study minimum wage i told mr ****** to set, and lo and behold it came out ah.

in 1999, they set questions on low rates of inflation. you better take my advice you better read. i've done for you already. things i do ah, you all think i... i... i ... i don't want to see ah... i haven't taken my temperature. those from the heartland jcs ah they won't do well. you will do well... i got a good record ah.. you have to study to tango with me,. the lowest grade you will get is a C. ok so you need any help or not? Ok you can go now.