Economic Society of Singapore

ESS JC Seminar 2012

The 2012 ESS Annual Student Seminar was held on 12 th May 2012 (Saturday) at Civil Service Auditorium, Civil Service College, 9.00 am to 12.00 noon. This is one of the major events ESS organizes annually. The topic for this year’s series is the “Economic Policy in the Turbulent World” The primary objective of this seminar is to enhance the appreciation and to raise the awareness level towards the current economic issues of topical interest amongst students from junior colleges, polytechnic and centralized institutions.This year’s seminar was attended by 300 participants from various tertiary institutions. The Introductory remarks of Mrs Tan Say Tin Chairman, ESS Education Subcommittee and Curriculum Specialist in Economics, Curriculum Planning and Development Division, Ministry of Education opened the seminar and then followed by the speakers’ presentation on current economic issues and ended by Panel of Discussion and Q & A chaired by Mr. Yeoh Lam Keong, ESS, Vice President.

Introductory Remarks
Ms. Tan Say Tin
Chairman, ESS Education Subcommittee
Curriculum Specialist in Economics
Curriculum Planning and Development Division
Ministry of Education

Click here to download introductory remarks

Session 1: “Monetary Policy in Singapore”

Dr. Choy Keen Meng

Principal Economist
Economic Surveillance and Forecasting Department
Monetary Authority of Singapore

This presentation is an introductory talk on the monetary policy framework in Singapore. While highlighting the relevance of the textbook concepts students have learned, the focus of the presentation is on the uniqueness of the monetary framework adopted by the MAS to tackle inflation in Singapore. In particular, the presenter will discuss the basket, band, and crawl (BBC) framework for exchange rate management and how it contributes to promoting sustainable non-inflationary growth. As an example of how monetary policy is conducted using this approach, the talk will end by explaining the rationale behind the latest MAS policy decision on the Singapore dollar.
Session 2: “Outlook and Challenges for the Region”
Mr. Ravi Balakrishnan

IMF Resident Representative, based in Singapore

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This presentation will present the IMF’s latest outlook for the region, which is hot off the press. He will discuss growth prospects for the region, exposure to deleveraging by European banks, and the difficult challenges Asian policymakers face given the still fragile global environment.

Session 3: “Social Insurance: Pooling Risks for a More Inclusive Singapore”

Mr. Donald Low

Director of Healthcare Leadership College 
MOH Holdings

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This presentation will make the case for wider use of social insurance in the context of a Singapore economy that has become more volatile and a society that has become more unequal in the last decade. Donald will argue that given the changing socioeconomic context facing Singapore today – a fast ageing population, more erratic economic growth, greater inequality, lower social mobility and low wage stagnation – Singapore needs a new social compact that finds a better balance between individual responsibility and social protection. Donald will also contend that pooling risks through social insurance will not only provide better social protection for Singaporeans in a fiscally responsible way, but also promote social trust and cohesion.
Question and Answer
Moderated by Mr Yeoh Lam Keong,
ESS, Vice President

Please click here for more photos.