|The 2009 ESS Annual Student Seminar was held on 2 nd August 2009 (Sunday) at Singapore Polytechnic Auditorium. This is one of the major events ESS organises annually. This year’s series on “Singapore’s Economy and the Financial Crisis” is primarily aimed to enhance the appreciation of and raising the awareness level towards current economic issues of topical interest amongst students from junior colleges, polytechnics and centralized institutions.This year, the Seminar was attended by 300 participants from various Tertiary Institutions. The seminar was kicked off by the introductory remarks of Dr Joshua Greene Chairman, ESS Education Subcommittee and Deputy Director, IMF – Singapore Regional Training Institute. Following which, the Speakers presented on current economic issues and ended with a Q & A session.
|Session I: “Macroeconomic Dimensions of the Current Financial Crisis”
||Mr. Manu Bhaskaran
53rd Council, Economic Society of SingaporeCEO/Director
Centennial Asia Advisors Private Limited
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||Mr. Jimmy Koh
53rd Council, Economic Society of SingaporeHead of Economics-Treasury Research
United Overseas Bank
Mr Koh, discussed on the Global Credit Crisis: Dynamics, Transmission, Mechanism and Implication on Global System.
• Non-Traditional Crisis: Explaining the dynamics and transmission mechanism
• Shadow Banking and Traditional Liquidity: How much has evaporated?
• How much is the damage on the real economy?
Session II: “Implications of the Crisis for Financial Sector Reform ”
||Dr. Rajan Govil
International Consultant Economist
IMF-Regional Regional Training InsituteDr. Govil discussed on the : Implications of the Crisis for Financial Sector Reform.
• Asymmetric Information, Adverse Selection and Moral Hazard
• Origination, Funding, and Credit Risk
• Some issues for Financial Reform
||Dr. Peter Kriz
Senior Lecturer of Economics
School of Economics
Singapore Management UniversityDr Kriz share his insights on: Implications of the Crisis for Financial Sector Reform.
• Three basic tenets
• Underlying assumptions
Session III: “Rethinking the Role of Government in the Economy in Light of the Crisis”
||Mr. Donald Low
53rd Council, Economic Society of SingaporeHead, Center for Public Economics
Civil Service College
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||Dr. Joshua Greene
ESS Education SubcommitteeDeputy Director
IMF Singapore Regional Training Institute
Dr Greene shared his insights on Rethinking the Role of Government in the Economy in the Light of the Crisis
• Roles for government in a market economy
• How government action during the crisis reflects these roles
• New approaches to the traditional roles
• Some questions about recent public sector policies
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