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Wednesday, August 11, 2004
Today marks a very very important day in the history of Singapore- Singapore goes back to being under the rule of the Lees. Some people call Singapore "The Lee Country", "Lee Inc" and so on. Well, for me, I'd call it " Li3 Jia1 Huang1 Chao2", meaning " The Lee Dynasty". Heard something real funny yesterday-that Genki Sushi @ Yusof Ishak Hall in NUS will open only today, the 12 of August because this is the day that Singapore goes back to being under the Lees. Haha that is really funny. I did not think of that. Look at ST today. More than 75% of the home section was devoted to you-know-who. To me, that means little. Nothing more than just propaganda, telling the whole world how good,how capable, how brilliant you-know-who is. Enough of you-know-who. I wont be so stupid to write so much about him,otherwise I'd be as guilty as the media.
Am reading my Intro Econs book in preparation for my Macroeconomics course. Just realised that there were some chapters there in the Microeconomics section that was not covered in my 1st term but was covered in my 2nd term as I was doing my Intermediate Microecons course. I came across something quite interesting-Gifts as signals. Signalling basically means an action undertaken by one person to reveal certain information about himself to others. E.g. one taking courses to get qualifications in order to signal to people that he/she is capable of doing certain things.
Gift giving is a very strange custom. Gift giving reflects asymmetric information and signalling. Let's say that a guy wishes to let his wife know that he loves her. Choosing a good gift is a signal of his love. If he loves his wife, giving a good gift should be easy. If he merely gives cash, it means that he does not bother to even try.
Isn't it interesting to be able to relate social behaviors to Economics? That's the reason why I think Economics is beautiful. Economics is not all just about maximising profit and minimising cost. Economics is much deeper than that for human behavior is involved. And human behavior can be complicated and hard to fathom sometimes.
*| 9:14 PM |*
