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GP Notes on economics-issues

Lockdown or Reopen the Economy?

GP Video and Articles

Coronavirus: The Economic Impact

COVID-19: How to fix the economy

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Overview of Video

The pandemic has impacted the price of every vital commodity, exacerbated retrenchment exercises and plunged global stock markets due to the reduced market confidence on economic sustainability. The pandemic has created a unique economic crisis where there is an unprecedented break in the global supply chain. Businesses have to actively search for alternative suppliers but due to the virus spread, alternative suppliers have become few and far between. Therefore the true extent of the world economic damage will only be clear with the strength of its recovery which is still a big question mark for many.

Even so, it does not stop us from proposing means to solve the crisis. In the second video, there are some proposals for governments. Governments have to strike a balance and not turn to austerity. They are borrowing sums of money and injecting into the economy. However, due to such actions, the government has ballooned enormous debt that taxpayers would be forced to shoulder the burden when interest rates rise.

Furthermore, the government should consider the sustained digital push in the economy. This remork-work revolution would accelerate economic efficiency, decrease unequal growth stemming from the congregation of good jobs only in cities.

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GP Tutor's View

Indeed, this economic crisis has been a unique one. It is an unprecedented event that has a profound global impact on almost every aspect of society. Individuals are forced to stay at home and conform to safe distancing guidelines.

But it is necessary to not have a pessimistic view on this crisis. This Covid-19 pandemic has essentially awoken us to the potential of many schemes and initiatives. Take for example the work from home  and elearning arrangement. Before the pandemic, various stakeholders of society recognised its benefits but were resistant to break the social norm and order. In a way, this pandemic has been a blessing in disguise, forcing governments and individuals to rethink their social norms and behaviours.With the implementation of the work from home, many realised that there is greater work efficiency due to work life balance. 

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Open-ended Question

Countries should prioritise economic matters in this modern era. Do you agree?

Share with us if you agree or disagree? We appreciate that you can provide us at least two points on this issue.

If you are interested in getting our view on this issue and get notified when there are new issues, please provide us your information after you submit your opinions. Thank you.

GP Class Activities

News Articles

Overview:

In our GP tuition, news articles would be provided to build up the current affairs knowledge of students. Students would be connected to real issues and learn to utilise these informative gems for their essay writing.

 

Classwork: 

We will be making discussion on the following articles during our GP tuition classroom or online. The articles are as follow:


Covid-19 measures prevented severe economic crisis | Today Online

https://www.todayonline.com/singapore/covid-19-support-measures-prevented-more-severe-economic-crisis-singapore-mof

Workers critical in coming months as measures taper off | Straits Times

https://www.straitstimes.com/singapore/reskilling-workers-critical-in-next-few-months-as-jobs-support-scheme-tapers-off-labour-mp


Write a paragraph on how the Singapore government can solve economic problems like unemployment and business bankruptcy. 

Flipside Notes

Overview:

What’s about Flipside? For these structured notes, questions about the issue would be brainstormed and various perspectives on the issue would be provided. These notes are crafted in a manner so that students can identify the determining factors of perspectives which would help them in their essay development.

 

Classwork:

Notes: 

  1. Causes of growth
  2. Benefits and Costs of growth
  3. Why must economic growth be more evenly distributed (inclusive growth)?
  4. What are the consequences of non-inclusive growth?
Essay Outline + Model Essay

Overview:

In our GP tuition, we are going through essay writing skills on how to create the structure for the following questions. Students need to understand how they can derive the key areas of writing and examples to apply in the context of this question. 

 

Classwork:

Essays: 

  1. The key responsibility of a government is to create wealth for the country. What is your view?

  2. To what extent is the pursuit of continuous economic growth a desirable goal?

Compre SAQ/ Summary/AQ

Overview:

In this part of the gp tuition, students attempt the comprehension and understand the requirements of the various types of question. Students are also taught on how to read, extract and express the answer to fulfill the requirements of the different type of the questions

 

Classwork:

Comprehension SAQ: Capitalism and Greed

Skill Development

Overview:

This part of the lesson is to develop and upgrade the various essay writing skills and comprehension answering techniques.

 

Classwork:

In this aspect of development, the focus of the essay writing skill is on paragraph development

Learning Content: Paragraph Development