Monopoly in HC!
Monday, May 19, 2008
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Single Seller:
You don't see any other gelato (Gelato is different from ice cream. Quote Gelato Uncle: The taste is more intense - !!!) seller in HC, do you?

Unique product:
The closest substitute gelato is probably the Meji yogurt sold in Fishtank -.-

Barriers to entry:
You can't set up your gelato shop in HC unless you are invited (to help raise funds no doubt).



qiuting.


qiuting



Monday, May 19, 2008
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Hello,

Click to download notes/summary of the various econs topics:
(i've checked, it's legal to do so)


Resource Allocation:
click here

Firms and how they operate:
click here

Market Failure and Government Intervention:
click here


credits to Zhuoyi from Fivelesslnotes



ceteris paribus,
qiuting


qiuting



nothing to do with econs.
Saturday, May 17, 2008
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Just for fun, since Ashton has completed his very own parody of the song :D

The original 'A Whole New World'.. with a twist.


Anonymous



A Whole New Monopoly
Saturday, May 17, 2008
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A Whole New Monopoly
Lyrics and Vocals by Sentrovasi
Original Song A Whole New World by Alan Menken
Listen Here

I can show you a hell
With a single supplier
Competition can't enter
Thanks to entry barriers.

Set exorbitant price
Knowing it's still demanded.
Profits earned getting super-
normal every single year,

Monopoly...
The government cannot ignore,
They'll say that no means no,
It's bad you know,
Though it may seem appealing

Monopoly...
Produced where MR meets MC,
Deadweight loss everywhere,
But they don't care,
'cos now this is a real monopoly...

They keep competitors out,
With predatory pricing:
Goods priced under cost of production
To maintain the market share.

Monopoly... (Watch them jack up the price)
A giant market just for you, (Watch their coffers get fatter)
Just cause AR's demand,
They're in command,
And get to set the prices...

Monopoly... (Profits all maximized)
Beware X-inefficiency (Always strive to be better)
'Cos when they're way up there
It's crystal clear
What they have is a monopoly...

They've got money...
Don't need AE...
A hellish place...
Consumers face...
Monopoly...

Cheers,
Ashton


Ashton Tan



Suggestion for wanted! - Music & Economics
Saturday, May 17, 2008
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Hi all,

I came across this website which incorporates economics into music in the form of flash animations!

I feel this would be an effective way to reach out to students, especially if the students are familiar with the music used. It could perhaps be shown during lectures, as a short few minutes break to lessons taught with lecture notes.

Unfortunately, I am unable to request for access to the "Animation Database" and hence cannot evaluate the usefulness of the videos. (I can only view one very short demo video here .)

Perhaps the economics unit might want to take a look at the website? ..because it is stated on the website that

"*The database requires a user name and password so that we are only distributing this material to professional educators using it under the educational fair use clause of the 1976 Copyright act.
Please email Andrew Rice with your name and departmental affiliation for access to the database".
(:


karen



"there is no such thing as a free lunch!"
Saturday, May 17, 2008
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Please see Cartoon No 308
@
http://www.hagencartoons.com/cartoons_306_310.html
for a cartoon illustrating
what we learnt at the very beginning of our economics lessons-

"there is no such thing as a free lunch!"

cheers(:


karen



CBS to buy CNET- merger/acquisition!
Friday, May 16, 2008
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Article from: http://www.channelnewsasia.com/stories/afp_world_business/view/348088/1/.html


karen